Crypto market update August 10: BTC and ETH stall as Solana hits 2-week high ahead of US CPI

The crypto market is trading in a narrow range today, August 10, as investors wait for the latest US inflation data.

Bitcoin (BTC) is holding between $64,700 and $65,300, while Ethereum (ETH) remains above the $1,900 support level. Solana (SOL), however, is outperforming both major cryptocurrencies after climbing to $77, its highest level since July 27.

The market is now focused on the US Consumer Price Index (CPI) report due August 12, which could influence expectations for the Federal Reserve's next interest-rate decision.

For a look at the previous day's market action, read our Crypto Market Update August 9, which covered Bitcoin and Ethereum's pullback, Solana's gains and the latest CLARITY Act developments.

Why Is the Crypto Market Moving Sideways Today?

The main factor keeping traders cautious is the upcoming US CPI report.

MarketWatch's economic calendar shows that analysts expect US inflation to fall slightly from 3.5% in June 2026 to 3.4% in July 2026.

The inflation reading could affect expectations for the Federal Reserve's September meeting. If inflation comes in lower than expected, traders could reduce their expectations for another rate hike.

Current Fed rate prediction markets show that about 36% of participants expect a rate hike at the September FOMC meeting. A further decline in those odds could support riskier assets such as cryptocurrencies.

The crypto market is also getting some support from easing geopolitical tensions. Reports indicate that the US and Iran are making progress in negotiations, which could reduce uncertainty across financial markets.

Institutional demand is another positive factor.

Ethereum ETFs recorded around $244 million in weekly inflows between August 3 and August 7, their strongest weekly inflow since April. Bitcoin ETFs also attracted around $844 million during the same period.

These inflows suggest that institutional demand remains an important source of support for the crypto market.

Crypto Market Data August 10

Crypto Derivatives Market Shows Higher Open Interest

Crypto derivatives activity has picked up slightly as traders position ahead of the CPI report.

Total crypto liquidations reached approximately $93 million on August 10, down 37% from the previous day.

Bitcoin and Ethereum recorded the largest liquidations at around $17 million and $14 million, respectively. The largest single liquidation occurred on Binance, involving a BTC/USD position worth approximately $1.07 million.

Meanwhile, total crypto open interest increased by about 1.05% to $114 billion.

Total derivatives trading volume stood at around $76 billion.

Funding rates also remained positive. Bitcoin's open-interest-weighted funding rate was around 0.0077%, while Ethereum's stood at approximately 0.0057%.

Positive funding rates generally indicate that long traders are paying short traders, suggesting that bullish positioning remains present in the derivatives market.

Bitcoin Whales Accumulate BTC Ahead of US CPI

Bitcoin whale activity is also attracting attention ahead of the inflation report.

According to CryptoQuant data, wallets holding more than 10,000 BTC accumulated around 46,420 BTC on August 9.

At the same time, smaller Bitcoin holders with between 0.1 and 1 BTC sold around 9,700 BTC.

This creates an interesting split in the market. Larger holders appear to be increasing their exposure while smaller holders are reducing their positions.

Bitcoin's active address count has also fallen to levels last seen in 2018. Some analysts view declining network activity at these levels as a possible sign that the market could be approaching a bottom.

However, the trend needs to be watched alongside price and trading volume before drawing a stronger conclusion.

Ethereum Price Forms an Ascending Triangle

Ethereum is showing a more constructive technical setup despite the broader crypto market moving sideways.

ETH is trading above the $1,900 support level and is forming what appears to be an ascending triangle pattern on the chart.

The key resistance is around $1,925.

A daily close above $1,925 could confirm a breakout and strengthen the recovery that began on August 1.

The MACD remains positive, suggesting that bullish momentum is still present. However, the red and negative histogram bars show that buying pressure is weakening near the resistance area.

If ETH breaks above $1,925 and holds the level, the next major target could be the psychological $2,000 level.

A failure to break resistance, however, could keep Ethereum inside its current range.

Solana Hits Two-Week High as Bulls Target $100

Solana is currently one of the strongest performers among major cryptocurrencies.

SOL climbed to around $77 on August 10, reaching its highest level since July 27.

The move has attracted attention from crypto analyst Ali Martinez, who suggested that Solana could eventually target the $100 level.

Two technical signals are supporting the bullish outlook: a MACD golden cross and a TD Sequential buy signal.

The immediate level to watch is $78.

A confirmed breakout above $78 could strengthen the bullish setup and potentially open the way toward higher levels, including the $100 psychological resistance.

However, traders should watch trading volume and momentum closely. A breakout without strong buying activity could result in another rejection.

What to Watch Next in the Crypto Market

The August 12 US CPI report is now the most important near-term catalyst for Bitcoin, Ethereum and the broader crypto market.

A softer-than-expected inflation reading could reduce expectations for another Fed rate hike and support risk assets. A hotter CPI reading could have the opposite effect by increasing pressure on cryptocurrencies.

For Bitcoin, traders are watching the $64,500-$65,300 range.

For Ethereum, $1,925 remains the key breakout level.

For Solana, a move above $78 could strengthen the path toward the $100 target.

Meanwhile, the increase in Bitcoin whale accumulation and continued ETF inflows provide additional signs that institutional demand remains active despite the market's current lack of strong momentum.