Crypto Markets on High Alert as Economic Data and Earnings Reports Loom

This week's economic data releases and big tech earnings could significantly impact cryptocurrency prices. Key events include major economic reports, such as the July ISM Manufacturing PMI data on Monday and the July jobs report due Friday.

The US canceled planned strikes on Iran, causing market fluctuations, but analysts are keeping an eye on Bitcoin, Ethereum, and XRP prices.

Bitcoin closed July at $62,818, down 49% from its October peak. One analyst suggests that Bitcoin may be starting a bottoming process, which can take one to three months and includes a dip below the realized price before finding a true bottom.

XRP is currently coiling near $1.06 support, with chart analysts tracking the token predicting that reclaiming $1.16 could shift its structure positively.