Recap
- Markets dipped on Friday as the US trade tariff deadline came into effect and many countries were left without a deal.
- The US revised down jobs data for May-June and posted below-forecast figures for July. Trump subsequently fired the chief of the Bureau of Labor Statistics.
- Equities slumped around the world and the dollar slid. Crypto assets were also badly hit with Bitcoin sliding below $112,000, but showed signs of recovery on Sunday.
- Earlier in the week, the US Federal Reserve held rates steady, as expected, and gave no indication whether it would modify its stance at the next meeting in September.
Top gainers of last week
M (MemeCore) +36%
CFX (Conflux) +16%
IP (Story) +11%
Top losers of last week
FARTCOIN (Fartcoin) -31%
SPX (SPX6900) -25%
BONK (Bonk) -23%
Market metrics
Total Market Cap: $3.7T (-6.8% vs last week)
Bitcoin Dominance: 61.4% (vs 59.9% last week)
Fear and Greed Index: 48/100 (vs 67 last week)
Alt Season Index: 41/100 (vs 44 last week)
This week, we’ll be monitoring (all times UTC):
Tuesday 5 Aug
Economic data
- 14:00: US Services PMI. A print below 50 signals contraction and could reduce crypto appetite.
Thursday 7 Aug
Trade tariffs
- Deadline for the next round of US import levies to take effect, subject to negotiations.
Economic data
- 03:00: China monthly export/imports.
Central banks
- 11:00: Bank of England interest rate decision. A rate cut might weaken GBP and support UK risk assets; a hold would maintain neutral conditions.
