Crypto markets extended their rally despite tariff uncertainties, buoyed by economic softness signals and an 88% probability of a September Fed rate cut per CME futures data. Analysts caution of persistent choppiness from trade tensions and geopolitical risks, with focus shifting to key macroeconomic events this week.
Critical inflation data includes July's core Consumer Price Index (CPI) due Tuesday, expected to rise to 2.8% from 2.7%, and the Producer Price Index (PPI) on Thursday. Retail sales figures and preliminary consumer sentiment/inflation expectation readings follow on Friday, alongside an OPEC report and five Fed speaker events—all poised to influence Fed policy and market volatility.
Total crypto market capitalization surged 2% to a record $4.13 trillion. Bitcoin gained over 3% to $121,850—a four-week high within $1,000 of its all-time peak. Ethereum hit $4,320, an almost four-year high just 11.5% below its 2021 record. Altcoins largely stagnated except Hyperliquid (HL) and Chainlink (LINK), both up over 4%.