{"content":"Crypto Market Update: Bears Bite as BNB Shines Amid Volatility The crypto market is showing bearish signs, with the global market cap dipping 2.5% to $3.95 trillion. Bitcoin (BTC) dropped 2.5% to $118,947 after briefly touching $122,000, while Ethereum (ETH) held steady near $4,292. The AI token sector took the hardest hit, falling 7.2%, led by losses in Virtuals Protocol, ai16z, and Fartcoin. On the bright side, Pump.fun surged 6% and Bitcoin Cash gained 2.4%. BNB stood out with a 3.13% climb to $831.16, breaking the $830 level—signaling possible strength for altcoins. XRP slipped 2% to $3.14 after a volatile day post-SEC settlement, with trading volumes spiking to $12.4 billion and solid support at $3.13. Analysts remain divided on its near-term trajectory, with targets ranging from $3.12 to $13. Ethereum ETFs in the U.S. saw record inflows of $1.02 billion on August 11, led by BlackRock’s $639.79 million, highlighting growing institutional demand and boosting ETH’s market share to 11.8%. All eyes are on today’s U.S. Consumer Price Index (CPI) data, expected to show 2.9% headline and 3.0% core inflation. A softer report could fuel hopes for a Fed rate cut in September, possibly lifting crypto prices, while a hotter reading might prompt caution. Regulatory watchers await the SEC’s liquid staking guidance and the Ripple-SEC joint status update due August 15. A potential $50 million Ripple settlement could propel XRP and set a key precedent. In scam news, a $300 million crypto fraud impacting the U.S. and Mexico has raised alarm bells. On the corporate front, Tokyo-listed Metaplanet boosted its Bitcoin holdings by 518 BTC, aiming to own 1% of BTC supply by 2027. Upcoming events like Phylax’s mainnet upgrade on August 12 and the Delabs Game Festival (August 23–26) are expected to spark innovation and excitement. $BTC $ETH $BNB ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025082025/08/13/63163d24d2054298afbcf48bd99b0d71.jpg"],"tags":[],"tradingPairs":["ETH/USDT"],"quotearticleid":0}