What’s going to matter for Bitcoin and crypto this week?
The price ends the week essentially flat around $119,000, still within reach of the July 14 all-time high.
After a week of swings, Bitcoin (BTC) closes the trading week on a bounce. The price previously dipped to $114,750 but ultimately ends the week largely unchanged near $119,000, still within reach of the July 14 all‑time high. The altcoin market also settles down. Only Binance Coin (BNB) stands out with a 10% jump to a new record high of $834.
What should we expect this week? In this preview: the key macro data and quarterly results that could move the crypto market.
🔍 Monday: Consumer confidence as a gauge
On Tuesday, July 29 at 16:00 CET, the Conference Board will publish the latest U.S. consumer confidence reading. Last month, it unexpectedly fell to 93.0, well below the 99.4 expectation. For July, analysts expect a modest uptick to 95.9, helped by positive trade developments with Japan.
Impact on crypto? A pickup in confidence can lift risk appetite for investors, helping drive both equities and crypto prices. A further pullback could trigger profit-taking.
🏦 Wednesday: Fed weighs in
On Wednesday, July 30 at 20:00 CET, the U.S. central bank will announce its rate decision. The market hardly expects a cut, with only about 4% of analysts pricing in a 25 basis point cut to 4.25%.
All eyes will be on Fed Chair Jerome Powell during the 20:30 CET press conference. If he signals a dovish stance, growth stocks and crypto could benefit. If he sticks to a cautious or hawkish tone, riskier assets could face pressure.
Note: Wednesday evening is expected to see a peak in volatility.
📊 Thursday: PCE core inflation under the microscope
On Thursday, July 31 at 14:30 CET, the core PCE inflation figures for June are released. The prior reading came in a touch higher than expected: +0.2% vs. +0.1% consensus. For July, economists expect a rise to +0.3%.
Scenarios:
- If inflation comes in hotter than expected, a rate cut becomes even less likely, which could put pressure on crypto.
- If it’s cooler than expected, markets could breathe easier and BTC could benefit from a rally in risk appetite.
👷♂️ Friday: Jobs and unemployment wrap up the week
On Friday, August 1 at 14:30 CET, the Bureau of Labor Statistics will release the NFP report on nonfarm payrolls. The last few months have beaten expectations. For July, analysts expect 108,000 new jobs—the lowest since November 2024.
Unemployment data will also be released. In June, the rate unexpectedly fell to 4.1%. Analysts expect a further drop to 4.0% in July.
Market implications:
- Strong numbers? Support for the current rate pause, which is positive for crypto.
- Weak numbers? The Fed may rethink policy, creating uncertainty—and possibly lower prices.
📈 Quarterlies: Big Tech & crypto firms in the spotlight
This week, several influential companies report their quarterly results:
- Tuesday (pre-market): PayPal
- Tuesday (after hours): Mara Holdings (crypto mining)
- Wednesday (after hours): Meta, Microsoft, Robinhood
- Thursday (after hours): Apple, Amazon, Coinbase & Strategy
Expected impact: High volatility on Wednesday and Thursday evenings. Positive surprises could boost risk-on assets like Bitcoin, while weak results could spark risk-off sentiment.
🧭 Conclusion: macro and micro converge
The coming trading week is a classic example of how macroeconomic data and microeconomic company results can reinforce or clash in their impact on the crypto market. For Bitcoin and altcoin investors, stay sharp: Wednesday and Thursday are the key data days. Volatility is lurking—will it move up or down?
Stay vigilant. In crypto, a blink can mean missing the move.
