Bitcoin saw a price drop in the past 24 hours, but still holds steady for the week, while several prominent altcoins experienced steep daily declines. Despite briefly reaching above $122,000 on August 11th and achieving a market cap close to $2.5 trillion, Bitcoin fell below $118,500 in the following hours, currently trading near $119,000. The upcoming release of the US CPI report today will likely influence BTC and the wider crypto market. If inflation shows slight increases as expected, it could lead to a rally, fueling hopes for easier monetary policy after the next FOMC meeting. While Bitcoin’s market capitalization has shrunk to approximately $2.36 trillion, its dominance over altcoins remains at around 58.6%. On the other hand, Ethereum (ETH) continues strong with prices exceeding $4,300, a 45% monthly gain. However, several altcoins saw significant price drops. Story (IP), Bonk (BONK), Pudgy Penguins (PNGU), and Pi Network (PI) experienced declines of 16%, 12%, 12%, and 7%, respectively, in the past 24 hours. This resulted in a 2% decline for the total crypto market cap, reaching $4.04 trillion. The cryptocurrency market continues to shift as we await further developments.