Why Is The Crypto Market Up Today?

What Happened

However, the $2.20 trillion ceiling remains untouched since late July and has to be the level to reclaim for the bulls.

1. Cooler CPI Eases the September Rate-Hike Scare

TOTAL is now defending $2.16 trillion, the 0.382 Fibonacci level. A hold keeps $2.20 trillion and the $2.26 trillion July high in view, while a break exposes $2.12 trillion.

Market Context

The in-line July inflation report ensured that the crypto market moved a tad higher on Thursday, August 13, 2026. TOTAL, the total crypto market ticker was trading near $2.16 trillion, up about 0.6% from yesterday’s low.

Today’s bid traces to inflation data. July CPI, the gauge of consumer prices, rose 3.4% over the year and 0.1% on the month, matching forecasts, while core CPI held at 2.5%. Both readings eased 0.1 point from June, easing pressure on the Fed.

As a result, traders cut September rate-hike odds to 34% on Polymarket, about half of late-July levels, and risk assets caught a bid.

Policy: September hike odds slid to 34% on Polymarket

Still, the relief could prove brief. Producer prices, or PPI, land later today and track wholesale costs at the factory gate rather than the till, an early look at pipeline inflation. A hot number would revive the rate-hike bets that CPI just cooled.

So the market stays capped. Buyers need a soft PPI to clear $2.20 trillion, the 0.236 Fibonacci level that has capped every rally since late July. A soft print reopens $2.26 trillion, while a hot one risks a slide toward $2.12 trillion.

Data: PPI tracks wholesale prices, an early inflation signal

However, volume is the catch. Buying volume sits near 108,000, well below the peaks of late May and June, leaving the rally hard to trust. So OKB must hold $103 to keep the $117 extension in reach. Losing it opens $99 and then $95, the next firm support.

Caution: Buy volume fading below May and June peaks

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Why It Matters

Risk: Hot print could revive September hike bets

Analyst’s View: Today’s mild uptick feels like relief. Until PPI clears and TOTAL reclaims $2.20 trillion, every wave of bullishness could remain undecided and prone to corrections.

Details

Print: Headline CPI 3.4%, core 2.5%, both in line

Level: Hold $2.16 trillion to keep $2.20 trillion in play

2. Thursday’s PPI Is the Next Inflation Test

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Barrier: Clear $2.20T to reopen $2.26T

Coin Spotlight: OKB (OKB)

OKB (OKB), the native token of exchange OKX, is today’s standout, up more than 5% at $104 and stretching its 30-day gain toward 28%. It has risen about 23% since August 6.

Catalyst: Exchange token OKB up 23% since August 6

Line: Hold $103 to keep $117 in reach