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Bitcoin, the altcoins, and the broader financial markets face another eventful week, with geopolitical developments, key US labor data, major earnings reports, and fresh economic indicators all capable of influencing investor sentiment.The cryptocurrency market is in a fragile place once again. The weekend moves on the war front in the Middle East did little to boost BTC and the alts higher, and Trump’s reassuring words about an upcoming deal for the Strait of Hormuz are taken with a grain of salt.<h2 id="key-events-in-focus">Key Events in Focus</h2>The first market reaction was expected to be a larger one, after US President Donald Trump canceled the planned military strikes against Iran over the weekend. Moreover, he claimed on a couple of occasions that there’s a Hormuz deal in the making, but Iranian officials denied it.Admittedly, the US stock futures markets indeed <a href="https://x.com/KobeissiLetter/status/2084037538356892010" rel="noopener noreferrer nofollow">rose</a> after Trump’s promises, while oil prices plunged. The impact in the crypto space, though, was limited to a <a href="https://cryptopotato.com/bitcoin-price-rebounds-as-trump-calls-off-iran-strikes-and-hints-at-a-deal/" rel="noopener noreferrer nofollow">brief surge from BTC</a> to $63,500 yesterday, only to be halted and driven below $63,000 on Monday morning.The next big thing in focus would be the manufacturing and labor data. The July ISM Manufacturing PMI, one of the first major indicators of the US economy’s health, will be announced later today. Tuesday will see the release of the June JOLTS Job Openings report, which, aligned with Wednesday’s ADP Nonfarm Employment Change, will provide a glimpse into employment conditions ahead of Friday’s official jobs report.Friday’s July Nonfarm Payrolls report is considered one of the Fed’s most closely watched economic releases. A stronger labor market could reduce expectations for policy easing, and vice versa.<blockquote class="twitter-tweet">Key Events This Week:1. Markets React to Trump Cancelling US Strikes on Iran – Today, 6 PM ET2. July ISM Manufacturing PMI data – Monday3. June JOLTS Job Openings data – Tuesday4. AMD, <a href="https://x.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AMD</a>, and SpaceX, <a href="https://x.com/search?q=%24SPCX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SPCX</a>, Report Earnings – Tuesday5. July ADP Nonfarm Employment…— The Kobeissi Letter (@KobeissiLetter) <a href="https://x.com/KobeissiLetter/status/2083924910615773234?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 2, 2026</a></blockquote><h2 id="earnings-season-is-here">Earnings Season Is Here</h2>Nearly 20% of S&amp;P 500 companies are scheduled to report quarterly results this week, providing additional insight into corporate profitability and investor sentiment. Some of the most anticipated names this week are SpaceX and AMD on Tuesday, followed by SanDisk on Wednesday.Although these companies do not have a direct connection to the crypto market (aside from <a href="https://cryptopotato.com/spacex-reveals-how-much-bitcoin-btc-it-owns/" rel="noopener noreferrer nofollow">SpaceX’s BTC holdings</a>), strong earnings from major tech firms have frequently boosted appetite for higher-risk assets.This week, described as ‘huge’ by the analysts at the Kobeissi Letter, combines geopolitical developments, labor-market data, manufacturing activity, and corporate earnings, and it comes shortly after the Fed <a href="https://cryptopotato.com/bitcoin-price-tumbles-to-2-week-low-as-fed-and-boj-keep-rates-unchanged-weekly-crypto-recap/" rel="noopener noreferrer nofollow">delivered</a> one of its most closely watched monetary policy decisions in years.A slowing economy, paired with contained geopolitical risks, could benefit BTC and the rest of the market. However, stronger-than-expected data or another major escalation in the Middle East could push the market leader toward $60,000 again.The post <a href="https://cryptopotato.com/the-huge-macro-week-is-here-will-this-data-finally-spark-a-crypto-breakout/" rel="noopener noreferrer nofollow">The ‘Huge’ Macro Week Is Here: Will This Data Finally Spark a Crypto Breakout?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

The ‘Huge’ Macro Week Is Here: Will This Data Finally Spark a Crypto Breakout?

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