3 Things That May Move Crypto Markets This Week 🚀
CryptoPotato has reported on Tradingview that crypto markets took a hit over the weekend, with Bitcoin sliding to $112,000 amid economic uncertainty sparked by new “reciprocal” tariffs from President Trump and a weak US jobs report 📉.
Trade tensions are heating up as import duties loom on August 7, with US-China trade talks resuming before a key August 12 deadline, potentially fueling more volatility ⚡.
This week, investors are eyeing critical economic indicators like the S&P Global Services PMI on Monday and ISM Non-Manufacturing PMI on Tuesday, which could signal further economic slowdown 📊. Fed Chair Jerome Powell’s speech at the Kansas City Fed’s forum is also in focus for hints on future rate cuts 💬.
Meanwhile, jobless claims data on Thursday may reflect labor market struggles. Despite the dip, crypto markets bounced back slightly, with total capitalization hitting $3.8 trillion. Bitcoin climbed to $114,500, while Ethereum recovered to $3,560, holding its range 🪙. With earnings from tech giants like Palantir and AMD, volatility is back in full swing 🚀.