Crypto Market Update August 12: Ethereum, Dogecoin Rise Amid US Inflation Data as Uniswap Crashes 10%

The crypto market is up today, August 12, as US inflation drops to 3.4% in July 2026. Ethereum (ETH) and Dogecoin (DOGE) are some of the biggest gainers among the top ten largest cryptos by market cap. Meanwhile, Uniswap (UNI) is one of the biggest losers after the price dropped by 10% to trade at $3.54 at the time of writing.

Crypto Market Outlook as US CPI Data Shows Cooling Inflation

Ethereum (ETH) price is up by 0.87% today, August 12, to trade at $1,907 at the time of writing. Dogecoin is also up by 1.78% to trade at $0.071.

Data from CoinMarketCap shows that all of the top ten biggest cryptos by market cap, apart from Bitcoin (BTC), are trading in the green as the US CPI data shows that inflation has cooled from 3.5% in June 2026 to 3.4% in July 2026.

This inflation data will have an impact on whether the Federal Reserve will hike or trim rates at the September FOMC meeting.

Data from prediction markets suggest that 62% of investors expect the Fed will leave interest rates unchanged at between 3.50% and 3.75%.

With today’s CPI print showing that inflation is cooling, it could increase the odds of the Fed not hiking rates, as it was earlier expected after July’s FOMC meeting highlighted that most Fed officials are leaning towards increasing interest rates.

Besides the inflation report, geopolitical tensions are also moving the crypto market today. An earlier report by CoinGape revealed that talks between Iran and Oman to discuss reopening the Strait of Hormuz are at an advanced stage, with this causing the price of Bitcoin to rise to $65,000.

Data from prediction markets also shows that there is a 99% chance that the US and Iran will announce a ceasefire by August 31, with the optimism raising market sentiment.

Crypto Market Data

• Total Crypto Market Cap: $2.2 trillion (+0.03%)
• 24-Hour Trading Volumes: $55.45 billion
• Bitcoin: $64,190 (-0.22%)
• Ethereum: $1,915 (+1.26%)
• XRP: $1.02 (+1.39%)
• Bitcoin Dominance: 58.6%
• Ethereum Dominance: 10.5%
• Altcoin Season Index: 41/100
• Fear and Greed Index: 27 (Fear)

Derivatives Market Analysis Today

Data from Coinglass shows that the total open interest across the crypto market is up by 0.66% today, August 12, to $116.23 billion. Bitcoin and Ethereum account for the biggest share of this OI, with BTC’s standing at $47 billion and ETH’s at $25 billion.

The total futures trading volumes across the crypto market today also stand at $138 billion, with this being a slight decline from the $148 billion in volumes seen on August 11.

Most of the traders opening futures positions in the crypto market today are positioned long, with Bitcoin’s funding rate at 0.0066% while Ethereum’s funding rate stands at 0.0040%.

The total liquidations across the crypto market have also reached $187 million today, with $122 million in long liquidations and $64 million in short liquidations. These liquidations affected 78,930 traders.

Ethereum Price Outlook Amid Ongoing Accumulation

Analyst Walter Bloomberg notes that investors are accumulating Ethereum ahead of the release of the US inflation data. The analyst also notes that managed funds are purchasing Ethereum in spot markets at a rate that is seven times higher than normal.

Still, most traders are net short on ETH, suggesting that they are cautious about the inflation report and a potential increase in interest rates by the Fed.

The one-day chart for Ethereum price also shows that the price has gained to test resistance at the 100-day EMA of $1,922. ETH has not closed above this resistance since July 26.

If Ethereum moves above the 100-day EMA and closes above it for three straight days, the price could move to the 200-day EMA of $2,138. The RSI of 55 also supports a bullish long-term Ethereum price forecast.

Dogecoin Price Technical Outlook as Futures Volumes Jump 99%

Data from Coinglass shows that the total derivatives trading volumes for Dogecoin have increased by 99% today, to $1.24 billion.

Dogecoin’s OI has also increased by 6.6%, suggesting that there is a surge in speculative demand for DOGE.

Still, the long/short reading of 0.95 shows that there are more short positions than long positions on Dogecoin.

A recent CoinGape Dogecoin price analysis noted that Dogecoin is moving within a falling wedge pattern that could cause a gain to $0.077. However, if Dogecoin price fails to close above the resistance at $0.070, the price could drop to $0.068.

Uniswap Price Crashes Amid a Surge in Selling Pressure

Uniswap is among the biggest losers in the crypto market today after the price dropped by 10%. The volume histogram bars that have been red for four straight days suggest that this drop is coming from an increase in selling pressure.

The RSI reading of 40 suggests that the momentum is favoring bears, while the MACD line that is tipping south also supports a bearish long-term Uniswap price outlook.

If the decline continues, Uniswap price could move to the psychological support at $3. A recovery could only occur.

Catch up on yesterday’s biggest moves in our Crypto Market Update August 11.