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The crypto market enters another crucial week as investors closely watch U.S. <a href="https://www.marketwatch.com/economy-politics/calendar" rel="noopener noreferrer nofollow">inflation data</a>, Federal Reserve speeches, jobless claims, and the CLARITY Act hearing.&nbsp;
With Bitcoin trading near $63,176 and the total crypto market cap slipping 1.15%, these events could decide the market’s next move.
<h2 id="h-major-u-s-economic-indicators-scheduled-for-this-week" class="wp-block-heading">Major U.S Economic Indicators Scheduled For This Week</h2>
<h3 id="h-july-14-june-cpi-report-nbsp" class="wp-block-heading">July 14: June CPI Report&nbsp;</h3>
The first major event this week is the June Consumer Price Index (CPI) <a href="https://in.investing.com/economic-calendar/cpi-733" rel="noopener noreferrer nofollow">report</a> from the U.S. Bureau of Labor Statistics. Economists expect headline CPI inflation to remain around 4.2% year over year, unchanged from May.&nbsp;
Core CPI, which excludes food and energy, is expected to stay near 2.9% annually after rising 0.2% month over month in May.
If inflation comes in higher than expected, markets could reduce hopes for future Fed rate cuts. That may pressure Bitcoin and other risk assets.
<h3 id="h-july-15-ppi-report-and-fed-chair-kevin-warsh-s-testimony" class="wp-block-heading">July 15: PPI Report and Fed Chair Kevin Warsh’s Testimony</h3>
The second key event comes on July 15 with the release of the Producer Price Index (PPI), which tracks wholesale inflation.
Analysts expect June’s <a href="https://in.investing.com/economic-calendar/ppi-734" rel="noopener noreferrer nofollow">headline PPI</a> to decline 0.2% month over month, easing from May’s 1.1% increase. Core PPI is expected to rise 0.3%.
On the same day, Fed Chair Kevin Warsh will present the Federal Reserve’s semiannual monetary policy report before Congress. Lawmakers are expected to question him on inflation, interest rates, and the U.S. economy.
Any hawkish comment could strengthen the U.S. dollar, while a dovish tone may support digital assets.
<h3 id="h-july-16-initial-jobless-claims" class="wp-block-heading">July 16: Initial Jobless Claims</h3>
On July 16, the market will focus on the <a href="https://in.investing.com/economic-calendar/initial-jobless-claims-294" rel="noopener noreferrer nofollow">latest</a> U.S. initial jobless claims data. Economists expect new unemployment claims to come in around 218,000, slightly above the previous week’s 215,000. A stable labor market could give the Federal Reserve more room to keep interest rates higher, while weaker employment data may strengthen hopes for future rate cuts.
<h3 id="h-july-17-clarity-act-hearing" class="wp-block-heading">July 17: CLARITY Act Hearing</h3>
The final major event arrives on July 17, when the House Financial Services Committee will hold an important hearing in New York on the CLARITY Act.
Lawmakers are expected to discuss an updated version of the bill that combines proposals from both Senate committees. However, several key provisions are still under negotiation, leaving uncertainty over the timing of a Senate floor vote.
<h2 class="wp-block-heading" id="crypto-market-remains-under-pressure-following-u-s-iran-conflict">Crypto Market Remains Under Pressure Following U.S.-Iran Conflict</h2>
This week’s economic events come as crypto markets continue to face pressure following the growing tensions between the U.S. and Iran.
As of now, the total crypto market capitalization has fallen 1.15% to around $2.17 trillion. Bitcoin trades near $63,176, while Ethereum remains around $1,790. Other large-cap cryptocurrencies, including XRP, Solana, and Tron, are also down between 1% and 2%.
With inflation reports, Fed commentary, labor market data, and crypto regulation all arriving within days, this week could become one of the most important macro events for the crypto market this month.
<ul>
 <li><a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/app_uploads/markets/cryptocurrencies/1732706235335c95cffr6tq.webp" alt="currency-symbol" width="20" height="20">BTC$ 62,615.59(-0.66%) <img src="https://image.coinpedia.org/wp-content/uploads/2024/06/08160332/top-looser-img.svg" alt="top looser" width="14" height="8"></a></li>
</ul>
<ul>
 <li><a href="https://markets.coinpedia.org/ethereum/" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/app_uploads/markets/cryptocurrencies/1732707154916ch3rtvrhc6.webp" alt="currency-symbol" width="20" height="20">ETH$ 1,787.37(0.26%) <img src="https://image.coinpedia.org/wp-content/uploads/2024/06/08160338/top-gainer-img.svg" alt="top gainer" width="14" height="8"></a></li>
</ul>
<ul>
 <li><a href="https://markets.coinpedia.org/xrp/" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/app_uploads/markets/cryptocurrencies/xrp.webp" alt="currency-symbol" width="20" height="20">XRP$ 1.07(-0.82%) <img src="https://image.coinpedia.org/wp-content/uploads/2024/06/08160332/top-looser-img.svg" alt="top looser" width="14" height="8"></a></li>
</ul>
<ul>
 <li><a href="https://markets.coinpedia.org/solana/" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/app_uploads/markets/cryptocurrencies/1720611656740klzlgpkxni.webp" alt="currency-symbol" width="20" height="20">SOL$ 75.13(-1.39%) <img src="https://image.coinpedia.org/wp-content/uploads/2024/06/08160332/top-looser-img.svg" alt="top looser" width="14" height="8"></a></li>
</ul>

Key Economic Indicators to Watch This Week: CPI, PPI & CLARITY Act in Focus

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