Bitcoin, Ether, XRP, Dogecoin fall as CPI eases hike odds
Bitcoin, Ethereum, XRP, Solana and Dogecoin trade lower as July CPI matches expectations, core inflation eases to 2.5%, and September hike odds fall to 40% from 48%.
Leading cryptocurrencies fell, even as stocks rallied on Wednesday as investors weighed the latest consumer inflation numbers that came in line with expectations. m. 06987 Crypto Market Retreats Further Bitcoin and Ethereum recorded sharp selling pressure, while XRP and Dogecoin also traded in the red on Wednesday. Cryptocurrency-related stocks also fell, with Strategy Inc.
(NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. 73%, respectively. Over the past 24 hours, more than $175 million in crypto positions were liquidated, with short sellers accounting for $93 million of the losses, according to Coinglass data. 49% over the last 24 hours.
An increase in open interest, along with a price decrease, typically indicates that short positions are being built up. "Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index. m. 79% over the last 24 hours.
Read Also: 'The US Is in Trouble' and Bitcoin Will Reap the Benefits, Macro Guru Says—But How? Stocks Rally After CPI Report Major indexes lifted on Wednesday. 49. 27.
5%, also as expected. Meanwhile, the odds of an interest rate hike in September fell to 40% from 48% the day before, according to the CME Fedwatch tool. The Anatomy of Bitcoin’s Bottom Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said Bitcoin risks breaking down to $60,000 if it fails to hold current support near $63,500 “The final level of support is that area; if that doesn’t happen, we’re very likely to be sweeping the lows again,” the analyst projected. It's very simple.
If #Bitcoin can't hold this level here, and doesn't want to test the resistance zones, we're looking to be getting a break downwards to $60,000. com/4QrZWX4EUt — Michaël van de Poppe (@CryptoMichNL) August 12, 2026 On-chain analytics firm CryptoQuant observes that Bitcoin’s losses have spread beyond speculative traders and are now being borne by long-term holders. Historically, at each significant cycle bottom, long-term holders have been sitting on more severe unrealized losses than the broader market, the research firm stated.
“Bitcoin is displaying a condition repeatedly associated with macro bottoms, but not yet the emotional and financial exhaustion that made previous bottoms unmistakable,” CryptoQuant added. com (@cryptoquant_com) August 12, 2026 Read Also: XRP Network Activity Jumps 84% but ETFs See Zero Inflows: What's Going On? Photo: KateStock / Shutterstock