Crypto Market Holds Steady as Investors Await Key Economic Data

The cryptocurrency market remained flat on Wednesday, May 14, as investors await key macroeconomic data due Thursday, following a softer-than-expected U.S. Consumer Price Index (CPI) report on Tuesday.

Bitcoin (BTC) held steady near $103,500 while Ethereum (ETH) increased 2.5% on the day to $2,600. Solana (SOL) and XRP also edged up around 2-3% to $177 and $2.57, respectively.

The total cryptocurrency market capitalization decreased by 1.5% over the last 24 hours to approximately $3.46 trillion, according to CoinGecko. It’s up from near $3 trillion a week ago.

ETH leads liquidations, ETFs mixed

Leveraged liquidations totaled $412.67 million over the past 24 hours, per data from to CoinGlass. For the second consecutive day, ETH led the pack with $175 million in liquidations, followed by BTC at $52 million. Altcoins collectively experienced approximately $48 million in liquidations.

Spot BTC exchange-traded funds (ETFs) recorded outflows of $96 million on May 13 – the largest outflows since April 16. Meanwhile, spot Ethereum ETFs attracted over $13 million in inflows, according to SoSoValue data.

According to Dr. Kirill Kretov, Senior Automation Expert at CoinPanel, ETH, XRP, and SOL are seen as relatively stable and lower-risk investments within the crypto market. He explained that as the macroeconomic outlook turned more positive — driven by softer inflation data, rising expectations of Federal Reserve rate cuts, and a 90-day tariff agreement between the U.S. and China — investors began moving capital into these larger, more liquid assets.

On Tuesday, the Consumer Price Index (CPI) report showed a 0.2% monthly increase, slightly below the 0.3% forecast, and a 2.3% year-over-year rise, marking the lowest annual inflation rate since February 2021.

“The bullish sentiment comes largely from improving macro expectations,” Dr. Kretov added. “Lower inflation and anticipated monetary easing have revived risk appetite, and crypto often benefits early in that environment.”

Now, all eyes will be on Thursday’s Producer Price Index (PPI) data, which will offer further insight into inflation and the Federal Reserve’s potential policy moves. A softer-than-expected PPI reading could suggest monetary easing later this year.