Don’t Miss Out on the Market Trends
Over the weekend, the crypto markets saw significant gains, reaching a six-week high in total capitalization. Keep an eye on the upcoming economic events and potential market influencers this week:
Upcoming Economic Events
- July’s S&P Global Manufacturing PMI and Services PMI preliminary readings on Wednesday.
- Release of Q2 2024 GDP growth annualized report on Thursday.
- June’s Core Personal Consumption Expenditures (PCE) on Friday.
These economic indicators may impact market movements and investor sentiment in the coming days.
Key Events to Watch Out For:
- Existing Home Sales data on Tuesday.
- New Home Sales data on Wednesday.
- Q2 2024 GDP data on Thursday.
- June PCE Inflation data on Friday.
- MI Consumer Sentiment data on Friday.
Stay informed about the latest economic data releases and their potential effects on the financial markets.
Market Analysis and Outlook
The crypto market capitalization surged to $2.6 trillion, hitting its peak since early June. Bitcoin led this rally, surpassing $68,000 in early trading on Monday.
- Bitcoin’s price briefly dropped below $66,000 following news of Joe Biden’s withdrawal from the presidential race.
- Altcoins like Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX) also experienced notable gains.
As the market continues to show volatility and resilience, it’s crucial to track these price movements and developments closely.
Hot Take: Stay Informed and Ready
As the crypto markets experience fluctuations and potential influences from economic events, make sure to stay informed and prepared for any market shifts. Keep an eye on the latest data releases and market trends to make well-informed investment decisions in this dynamic environment.
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