This Week #31 – Monday 28 July

28 July 2025 - 09:15 CEST

Your Weekly Markets Briefing

Recap

  • The US and the EU agreed a 15% tariff deal for European exports to the US after President Trump met with Ursula von der Leyen, President of the European Commission, in Scotland. Trump had previously threatened 50% and 30%. Separately, the US and China may extend their tariff truce another 90 days, the South China Morning Post reported.
  • The White House continued to advocate for lower interest rates in the US, ahead of this week’s Federal Reserve rate decision.
  • The CMC100 Index rebounded through the weekend after declining during the second half of last week.

Top Gainers of Last Week

PUDGE (Pudgy Penguins) +39%
ENA (Ethena) +36%
FLR (Flare) +22%

Top Losers of Last Week

PUMP (pump.fun) -38%
CFX (Conflux) -19%
XTZ (Tezos) -16%

Market Metrics

Total Market Cap: $3.97T (+0.1% vs last week)
Bitcoin Dominance: 59.9% (vs 60% last week)
Fear and Greed Index: 67/100 (vs 67 last week)
Alt Season Index: 44/100 (vs 56 last week)

This week, we’ll be monitoring (all times UTC): 

Tuesday 29 July

Economic data

  • 14:00 JOLTS job openings figures. The number of job openings in the US rose by 374,000 to 7.769m in May, the highest level since Nov 2024. June may see a reversal of two straight months of gains, if the consensus estimate of 7.35m proves to be correct. 

Wednesday 30 July

Economic data

  • 09:00: Euro GDP Growth Rate QoQ.  A weak print may revive safe-haven demand, while resilience could cap crypto upside.
  • 12:30: US GDP Growth Rate QoQ. A sub-2% read would fuel Fed pivot hopes and likely boost crypto, while strength could delay easing and pressure prices.
  • 18:00: Fed Interest Rate Decision. A rate cut would likely spark a crypto rally; a hawkish hold could trigger profit-taking and risk aversion.

Government policy

  • The White House will release its Digital Assets Working Group 180-day report – per a schedule announced in a 23 July post on X by Bo Hines. The report may outline policy on market structure, oversight, consumer protection and the development of a digital stockpile and Bitcoin Strategic Reserve.

Crypto event

  • Ethereum 10Y Anniversary in Zug.

Thursday 31 July

Economic data

  • 12:30: US Core PCE Price Index MoM. A softer inflation print would strengthen the case for rate cuts, offering a bullish setup for crypto.

Friday 1 August

Economic data

  • 09:00: EU Inflation Rate YoY. A drop below 2% would ease ECB pressure and support European risk sentiment, while a hot print may stoke volatility.
  • 12:30: US Unemployment Rate. A modest rise above 4.1% could reinforce easing bets and support crypto.
  • 14:00: US Manufacturing PMI. A print below 50 signals contraction and could reduce crypto appetite

Crypto event (token unlock)

  • SUI (Sui) to unlock 44m tokens, worth about $227m

Public holiday

  • Swiss National Day