Potential Influencers of Bitcoin Fluctuations: Four Factors Impacting the Cryptocurrency Market This Week

Despite the ongoing tariff uncertainty, both crypto and stock markets have been rallying. This rally may be aided by economic softness signs and increasing odds of a rate cut in September. However, the future may continue to be unstable due to trade, macro, and geopolitical developments. This week, inflation data and consumer sentiment reports are significant and could influence the Federal Reserve's decision in September.

Important events include the OPEC Monthly Report, July's CPI and PPI Inflation data, July's Retail Sales data, MI Consumer Sentiment data, and five Fed speaker events. Meanwhile, in the crypto market, total market capitalization has hit an all-time high of $4.13 trillion. Bitcoin and Ethereum have also seen significant increases, with Bitcoin nearing its all-time high and Ethereum just 11.5% away from its 2021 peak.