Crypto Markets Enter High-Stakes Week with Economic Data and Big Tech Earnings

This week is packed with events that could move cryptocurrency prices, from major economic data releases to big tech earnings. The market is reacting today after Trump canceled planned US strikes on Iran.

The July ISM Manufacturing PMI data is out Monday, followed by June JOLTS Job Openings data and AMD's quarterly earnings report. Tuesday also sees the release of SpaceX's earnings.

Wednesday brings July ADP Nonfarm Employment Change data and SanDisk's earnings report. The week culminates with Friday's big release: the July jobs report, which could be a major market catalyst.

About 20% of S&P 500 companies are reporting earnings this week, adding volatility to markets, including crypto.

Bitcoin closed July at $62,818 and is down over 49% from its October peak. Analysts note that the 200-week moving average sits near $63,000, while the realized price is around $52,000 and still falling. The monthly RSI reading of 43 remains below the neutral 50 level.

This could indicate a bottoming process for Bitcoin, which historically takes one to three months and often includes a dip below the realized price before finding a true bottom.

XRP is coiling near $1.06 support and needs to reclaim $1.16 to shift its structure. Analysts note that XRP's relief rallies since January have been capped by resistance at $1.16, making it a key level to watch.

Ethereum has been stuck in a range between roughly $1,860 and $1,955 for several weeks. One analyst suggests Ethereum could reach higher levels after a deeper pullback, but only after a specific sequence plays out first: a rally into the $1,900 to $2,000 resistance zone, followed by a distribution period, then a deeper test toward the $900 to $1,400 range before any new bull cycle begins.