Crypto markets ended the weekend with slight losses, but the new week has begun with modest positive price dynamics.
Overview of Current Situation in Crypto Markets
Crypto markets are experiencing a mild rise at the start of the week, with total market capitalization reaching $3.44 trillion. Bitcoin has tested the $109,500 level twice over the past few hours, aiming to return above the $110,000 mark.
Economic Events from July 7 to 11
This week will see numerous economic reports released. On Monday, the Consumer Credit Change report will outline changes in total consumer debt excluding mortgages.
On Tuesday, two reports are expected: the Business Optimism Index for June and the short-term energy outlook from the Energy Information Administration. Wednesday will see the minutes from the last central bank meeting, which may provide hints on future interest rates.
Outlook for Cryptocurrencies in the Coming Week
A favorable outcome from the Trump administration regarding global tariffs could potentially drive Bitcoin to new all-time highs. Meanwhile, postponing the high tariffs on all trading relations may support investor appetite for risk.
Crypto markets remain influenced by numerous economic factors, and this week promises to be volatile with important announcements and events that may impact price dynamics.
