US inflation data and financial sector earnings will guide crypto markets in the coming week, with investors looking for new signals on interest rates, economic growth and risk appetite.
The June consumer price index arrives on Tuesday, followed by producer prices on Wednesday, giving markets two opportunities to consider the path of the Federal Reserve’s interest rate policy.
Markus Levin, co-founder of XYO, told CoinDesk that softer CPI and PPI readings could strengthen the case for looser monetary policy, which has historically supported bitcoin. and the crypto market in general. However, higher-than-expected inflation could displace rate cut expectations and potentially send bitcoin below $60,000, he said.
“Investors will also be watching earnings from major U.S. banks, including JPMorgan, Citigroup and Wells Fargo, as their results often provide one of the clearest snapshots of the health of the U.S. economy,” Levin said.
“Strong loan demand, healthy consumer spending and stable credit quality would reinforce the view that economic growth remains resilient, supporting broader risk appetite.”
Renewed tensions between the United States and Iran and the risk of disruption around the Strait of Hormuz are also likely to influence developments, injecting further volatility through oil prices and other risk markets.
What to watch
(All times ET)
- Crypto
- July 13: Ethereum developers will review progress in testing the planned Glamsterdam upgrade.
- July 14: Jito is expected to make the Solana self-custody trading app, JTX, accessible to early adopters.
- Macro
- July 14, 08:30 am: US monthly core inflation rate for June estimated 0.2% (previously 0.3%)
- July 14, 08:30 am: US core consumer price index year-on-year for June estimated at 2.9% (previously 2.9%); Monthly estimate 0.3% (previous 0.2%)
- July 14, 08:30 am: US Consumer Price Index year-on-year for June (previously 4.2%); MoM estimate -0.1% (previous 0.5%)
- July 14, 10 am: US Federal Reserve Chairman Warsh presents the semiannual monetary policy report to Congress.
- July 14, 10 pm: China’s second quarter GDP year-on-year growth rate estimated at 4.4% (previously 5%)
- July 15, 8:45 am: US Fed Williams speech titled “The Future of Liquidity and Market Functioning”
- July 15, 9:45 am: Bank of Canada interest rate decision (previously 2.25%)
- July 16, 08:30 am: US initial unemployment claims for the period ending July 11 (formerly 215K)
- July 17, 5 am: Eurozone Consumer Price Index Final year-on-year for June estimated 2.8% (Previous 3.2%)
- July 17, 10am: Preliminary US Michigan Consumer Sentiment for July (was 49.5)
- Earnings
- July 15: BlackRock (BLK), premarket, $12.55
symbolic events
- Governance votes and calls
- Aave DAO is voting to adopt a standardized technical asset listing framework to ensure consistent and transparent security baselines for assets in Aave V3, V4, and Horizon. Voting ends July 13.
- Ssv.network DAO is voting to reduce the minimum price of its Incentivized Mainnet Program (IMP) rewards from $10 to $8 per SSV. Voting ends on July 14.
- Threshold Network DAO is voting to reorganize its committee, split multi-signature responsibilities, and eliminate contributor compensation to save $649,000. Voting ends July 15.
- Cratos DAO is voting to extend the current mobile app token reward standard deadline from July 31 to August 31, delaying the planned halving to September 1 to help sustain user acquisition. Voting ends on July 16.
- ENS DAO is voting to allocate $1.69 million to fund the SPP3 infrastructure cohort and compensate the selection committee. Voting ends on July 16.
- Arbitrum DAO is voting on the election of members of the Oversight and Transparency Committee (OAT). Delegates can freely distribute their voting power among the 13 eligible candidates using a weighted voting system. Voting ends July 17.
- Unlock
- July 15 – Connex (CONX) will unlock 1.45% of its circulating supply worth $28.67 million.
- July 16: Arbitrum (ARB) will unlock 1.46% of its circulating supply worth $8.62 million.
- July 17 – DeBridge (DBR) will unlock 11.43% of its circulating supply worth $10.13 million.
- Token releases
- July 13 – Credible (CRED) community sale opens on MetaDAO. The increase points to $2 million in community demand.
