Crypto Market Trades Cautiously Ahead of US CPI Report

The crypto market is trading in a narrow range on August 10 as investors await the US Consumer Price Index (CPI) report due on August 12. Bitcoin (BTC) and Ethereum (ETH) are holding steady, with BTC between $64,700 and $65,300 and ETH above the $1,900 support level.

Solana (SOL), however, is outperforming both major cryptocurrencies after climbing to its highest level since July 27 at around $77. The move has attracted attention from crypto analyst Ali Martinez, who suggested that Solana could eventually target the $100 level.

Traders are watching the US CPI report closely, as a softer-than-expected inflation reading could reduce expectations for another Federal Reserve rate hike and support risk assets. A hotter CPI reading could have the opposite effect by increasing pressure on cryptocurrencies.