Crypto Market Braces for Price Volatility as Key Economic Events Loom

This week's economic calendar is packed with events that could significantly impact crypto prices. Major releases include July ISM Manufacturing PMI data on Monday and the July jobs report, which is due Friday.

The US strike on Iran has also had an immediate effect on markets. Beyond these events, many S&P 500 companies are reporting earnings this week, adding potential for volatility across markets, including crypto.

Bitcoin currently trades at $62,818, down over 49% from its October peak. Analysts point to the 200-week moving average near $63,000 and a monthly RSI reading of 43 as signs that Bitcoin may be starting a bottoming process.

XRP is coiling near a key level, with analysts watching for signs of movement around the $1.06 support and $1.16 resistance levels. Ethereum has been stuck in a tight range between roughly $1,860 and $1,955, but one analyst suggests it could eventually reach higher levels after a deeper pullback.