The week from July 14 to 18 in the United States is clearly demonstrating this country's dominant role in the global cryptocurrency market. Not only are important macroeconomic data such as the Consumer Price Index (#cpi ) and producer price inflation (PPI) being released, but a series of speeches from senior officials of the U.S. Federal Reserve (FED) along with the House of Representatives considering several landmark crypto bills are likely to create significant market fluctuations.
The impact of monetary policy and economic data
On Tuesday, July 15, the market will pay particular attention to the CPI and Core CPI reports. If inflation numbers are higher than expected (CPI expected 2.7%, previous 2.4%; Core CPI expected 3.0%, previous 2.8%), this could strengthen the Fed's stance on keeping interest rates high, putting pressure on risk assets like cryptocurrencies. Conversely, if inflation decreases, expectations for interest rate cuts will increase, potentially boosting the market.
Additionally, speeches from a series of senior officials from #Fed such as Michelle Bowman, Michael Barr, Susan Collins, Lorie Logan (Tuesday), John Williams (Wednesday), Adriana Kugler, Mary Daly, Lisa Cook, and Christopher Waller (Thursday) will provide further signals regarding monetary policy direction. These remarks could directly influence investor sentiment and capital flows into the crypto market. The Fed Beige Book report on Wednesday will also provide a comprehensive view of the actual economic situation, which could impact the overall market picture.
The Crypto legal framework is shaping the future
In parallel with economic developments, the U.S. House of Representatives will consider important crypto bills that shape the legal infrastructure for the industry:
The CLARITY Act: This bill will clarify the regulatory roles between the SEC and CFTC regarding digital assets, providing the much-needed legal clarity for crypto projects.
The Anti-Surveillance CBDC Act: This is an effort to prevent the deployment of central bank digital currencies (#CBDC ) capable of monitoring citizens, a deeply concerning issue for the crypto community regarding privacy.
The GENIUS Act: Passed by the Senate, this act will create a clear legal framework for stablecoins, an important asset that connects fiat money and the crypto world.
The passage or delay of these bills will have a direct impact on the development, legality, and scalability of crypto projects in the U.S., thereby affecting the global landscape.
In summary, this week is a clear demonstration that macroeconomic and legal decisions from the United States are not just local news but key factors that guide and profoundly impact the entire international cryptocurrency market.