Bitcoin had hovered near $62K over the weekend, with $63K on Monday, Asia time. Meanwhile, Ethereum stabilized at $1,700.
The market remains affected by recent macro data like job growth and June payrolls, as fears of a near-term Fed hike have lifted broader risk appetite.
CoinMarketCap’s Crypto Fear and Greed Index stabilized at 28, slightly increasing from last week at 18, as cautiously optimistic.
What Traders Should Watch Out for This Week
The major focus for this week is still on the market’s interpretation of the Fed path, like Fed minutes on Wednesday, and early earnings reports will help shape the next leg of rate and growth expectations
Even though the recent employment data had pushed back the rate hike expectation, the market is still cautiously watching whether upcoming data confirms the likelihood of future rate hikes.
Here are the major economic indicators to watch out for this week:
- July 6: US services PMI, ISM report on business services PMI, and global services PMI
- July 8: monthly wholesale trade, Fed minutes, consumer credit
- July 9: weekly jobless claims and existing home sales
