The markets over the weekend stayed steady, as Bitcoin is slightly up at $64K, while Ethereum hovered around $1,800, indicating that all is calm before the big Fed decision this week.
CoinMarketCap’s Crypto Fear and Greed Index stabilized at 39, reflecting risk-on optimism.
What Traders Should Watch Out for This Week
The markets are heavily influenced by the broader macroeconomic landscape. The primary source of event risk this week stems from the upcoming Fed decision, which is accompanied by crucial U.S. economic growth and inflation indicators.
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Furthermore, ongoing geopolitical tensions between the U.S. and Iran have the potential to impact the energy sector, thereby introducing an additional variable into the Federal Reserve’s policy considerations.
On the other hand, industry players are reacting to new text in the CLARITY Act, which could define crypto regulatory jurisdiction across exchanges, DeFi, token fundraising, and tokenization. It faces political opposition, so the market awaits further progress before pricing in regulatory clues.
Here are the major economic indicators to watch out for this week:
- July 27: Durable goods
- July 28: Advance economic indicators report, wholesale and retail Inventories
- July 29: U.S. interest rate decision
- July 30: Advance estimate GDP, weekly jobless claims, personal Income, consumer spending, PCE core price index
- July 31: Employment cost index, U. Michigan final consumer survey
