Each week, we observe how new developments impact the cryptocurrency charts. This particular week holds notable events that are expected to influence the market, with the process associated with tariffs acting as a pivotal point, making July 9 a day of significant importance. What should investors anticipate in the coming days and hours? Will Bitcoin 
$77,464 and altcoins experience an upward trend?
Crypto Calendar Highlights
At the time of writing, Bitcoin sits at $108,400, while altcoins are progressing with a 1-2% gain. Key employment data came out last week ahead of this month’s Federal Reserve meeting. Mid-month, the Consumer Price Index will be released, and the Fed will disclose its decision regarding potential rate cuts in September, just 23 days later.
Here are this week’s important developments:
July 9, Wednesday
- 07:00 US Reciprocal Tariffs Deadline
- 21:00 Fed Minutes
July 10, Thursday
- 07:00 Von der Leyen Confidence Vote
- 15:30 US Initial Jobless Claims (Expectation: 235K Previous: 233K)
- 16:00 Fed/Musalem
- 20:15 Fed/Waller
- 21:30 Fed/Daly
Caution for Investors
Tariffs are this month’s most critical development, as Trump is set to implement increased tariffs starting August 1, leaving nations with only hours to negotiate. A surprise extension for negotiation could happen, but it would likely still adversely affect cryptocurrencies. With ongoing uncertainty, investors might perceive current prices as reasonable and opt to sell in anticipation of a rise in September.
So far, agreements have only been announced with the United Kingdom and Vietnam. Announcements regarding deals with other countries are expected by Wednesday, with India being considered a sure bet. This week, last-minute deals will be crucial amidst threats of additional tariffs on numerous nations.
The Federal Reserve minutes will provide insights into the significance of tariffs within the Fed committee. Prior to the inflation data release next week, there is a risk that the minutes could dampen market appetite. Moreover, the week of July 15 will see earnings reports from major firms including BlackRock and JPM, presenting a potential for significant market volatility based on the news flow, which might increase as we move towards the following week.
Investors should be cautious regarding the risk of a US-EU standoff and the potential for increased sales due to inflation concerns. And of course, the future remains unpredictable, leaving room for surprises in the crypto world.
