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
