What will matter for Bitcoin and crypto this week?
Bitcoin climbs 8% in anticipation of crucial macro data — these are the numbers that matter this week. Bitcoin (BTC) ends the week well above $107,000, up about 8% on a weekly basis.
Bitcoin rises 8% in anticipation of crucial macro data — these are the numbers that matter this week
Bitcoin (BTC) sits firmly above $107,000 at the end of the trading week, up roughly 8% week over week. The crypto market is following the sametrend as U.S. stocks, with the S&P 500 and Nasdaq-100 hitting fresh records. Altcoins are also on the move; Solana (SOL) is up more than 15%, and Ethereum (ETH) and Ripple (XRP) are posting double-digit gains.
The big question: can this rally continue? The answer lies in a run of macroeconomic data due over the next few days.
What’s coming up: inflation, jobs, and central banks
The new month kicks off with eurozone inflation data on Tuesday, followed by U.S. ISM indices for manufacturing. Thursday brings the latest U.S. payrolls data and unemployment figures, which have traditionally moved markets for both stocks and crypto.
With Friday, July 4th, a market holiday in the U.S., all volatility is being pulled forward.
On top of that, central bank chiefs Christine Lagarde (ECB) and Jerome Powell (Fed) will speak this week. Markets will parse every comma for hints about future policy.
Tuesday: European inflation and U.S. manufacturing data
Eurostat will publish the first June inflation estimates on Tuesday. The forecast calls for a small uptick to 2.0%. If inflation cools or stays flat, the ECB could cut rates sooner — good news for stocks and crypto. Higher inflation would likely have the opposite effect.
Later that day, investors will eye the U.S. ISM index for manufacturing. May was weak, at 48.5. Analysts expect a slight uptick to 48.8, still under the critical 50 threshold. A surprise beat could spark more rally moves, while a miss could spoil the mood.
Thursday: crucial labor market data
At 14:30 ET, the U.S. nonfarm payrolls (NFP) report will show the number of new jobs outside farming. Analysts look for about 120,000 new jobs. The Fed watches this closely: weak numbers could signal cooling demand and a dovish policy shift.
The unemployment rate comes out at the same time. A rise to 4.3% is expected — the first uptick in months. If unemployment actually climbs, it could make investors nervous and put pressure on risk assets like crypto. If the figure holds steady or falls, that would be a bullish sign.
Thursday afternoon: services sector as the last test
Finally, at 4:00 p.m., the ISM index for the U.S. services sector will be released. The previous reading was a weak 49.9. Analysts expect a rebound to 50.8. A stronger-than-expected print would show the economy’s resilience and boost market sentiment.
On the flip side, a miss could shake confidence and push prices lower.
Summary
The BTC and altcoin rally has been impressive, but this week will test it. Inflation, employment data, and central bank commentary will decide whether we see a continuation or a reality check.
