Bitcoin held steady above the $108,000 level, while ether briefly rose above $2,500 over the weekend, as traders prepare for a week of key macroeconomic data releases.
The world’s largest cryptocurrency traded up 1% in the past 24 hours at $108,423 at the time of writing, and either gained 2.8% to change hands at $2,499, according to The Block’s price page. The cryptocurrency market appears to have recovered much of the losses triggered by the Iran-Israel conflict, which had pushed bitcoin below $100,000.
Traders will closely watch several upcoming macroeconomic data releases and remarks from major central bank officials speaking at the European Central Bank forum this week, analysts said.
Federal Reserve Chair Jerome Powell is expected to speak on Tuesday at an ECB forum panel alongside central bank governors from the UK, South Korea and Japan. While Powell told lawmakers last week that the Fed was in no rush to lower interest rates, U.S. President Donald Trump accused Powell on Sunday of keeping rates “artificially high.”
Peter Chung, head of research at Presto Research, told The Block that this week “will be important,” with a slew of labor market data scheduled for release. That includes May job openings from the U.S. Job Openings and Labor Turnover Survey, as well as June nonfarm payrolls and the unemployment rate.
“Crypto-specific fundamentals this year have never been stronger, driven by policy tailwinds and mainstream adoption,” Chung said. “If these data show weakness, the expectation of rate cuts could strengthen, driving risk asset prices, including crypto, higher.”
Investors are also watching developments in tariff negotiations ahead of the July 8 and 9 deadlines, along with movements in the U.S. dollar. “Tariff talks ahead of the July 8 deadline and continued dollar weakness will keep markets attention this week,” said Vincent Liu, CIO of Kronos Research.
“Crypto’s climbing, but conviction may be tested. Momentum builds as macro winds ease and risk appetite returns,” Liu said. With the bitcoin fear and greed index at 66, he added that the market sentiment “looks elevated,” but one major macro shift “could reset the board.”
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
