Bitcoin traded around $64K over the weekend, then opened the week at $63K on Monday, Asia time, while Ethereum stayed steady at $1,800.
The market tends to be more erratic as liquidity is thinner, leading to less trading over the weekend.
CoinMarketCap’s Crypto Fear and Greed Index stabilized at 30, slightly increasing from last week at 29, indicating a cautiously optimistic outlook.
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What Traders Should Watch Out for This Week
The main macro focus for this week remains on U.S. rates and inflation expectations, as Chairman Kevin Warsh will testify before the Senate on Wednesday to discuss the potential for a rate hike. Conversely, softer prints would likely reduce yield pressure and could spark a risk-on rally.
Furthermore, progress regarding stablecoin frameworks, the expansion of tokenization, or regulatory advancements such as potential updates to the Clarity Act could provide significant sectoral clues. These developments may support custody providers, exchanges, and blockchain services, even amid continued spot price volatility.
Here are the major economic indicators to watch out for this week:
- July 13: monthly treasury balance
- July 14: CPI and NFIB index of small business optimism
- July 15: Empire State manufacturing survey, PPI, personal consumption
- July 16: Retail sales, Philadelphia Fed business outlook survey, weekly jobless claims, manufacturing & trade: inventories & sales, NAHB housing market index, pending home sales index
- July 17: Housing starts, import prices, industrial production, capacity utilization
