Reserve Dollar

Cardano

United

Wednesday

Bitcoin

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 <ul> 
 <li aria-level="1">The US Census Bureau will publish June’s final retail sales data, a significant consumer sentiment indicator.&nbsp;</li> 
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 <li aria-level="1">Eurostat will release the final consumer prices for Europe in June, with expectations of a decline in inflation.&nbsp;</li> 
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 The favorable court ruling in <a href="https://www.crypto-news-flash.com/the-ripple-vs-sec-aftermath-what-to-expect-after-court-ruling-xrp-is-not-a-security/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s favor </a>and declining US consumer and producer prices triggered substantial price increases in the cryptocurrency market. Following this development on Thursday, July 13, XRP, Cardano (ADA), and Polygon (MATIC) prices experienced significant upward movements, recording double-digit gains.&nbsp; 
 Additionally, the price of Bitcoin reached a <a href="https://www.crypto-news-flash.com/bitcoin-holds-steady-above-30k-as-altcoin-rally-boosts-market-sentiment-can-btc-bulls-push-price-to-35000-by-julys-end/" target="_blank" rel="noopener noreferrer nofollow">new yearly high </a>of $31,862, although it failed to sustain this bullish breakout. As the week drew close, profit-taking intensified despite positive economic data from the United States. 
 After initially gaining ground, the US stock indices retraced their advances, resulting in price consolidations within the cryptocurrency market. Bitcoin experienced a correction of approximately four percentage points in two hours, bringing it back to the lower boundary of the sideways range observed in the previous three weeks of trading. 
 The price of BTC found stability in the $30,000 range and made a <a href="https://www.crypto-news-flash.com/game-changer-europe-launches-spot-bitcoin-etf-can-it-drive-btc-price-to-a-new-all-time-high-of-100000-details/" target="_blank" rel="noopener noreferrer nofollow">modest recovery </a>to around $30,300 over the weekend. Despite the positive developments, the possibility of a short-term price correction remains a potential scenario. 
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 <div class="mcw-chart mcw-chart-light" data-font="Poppins" data-coin="bitcoin" data-symbol="BTC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div> 
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 <h3 id="important-economic-data-to-be-considered-this-week">Important Economic Data To Be Considered This Week</h3> 
 The upcoming trading week commences on Tuesday, featuring new retail data from the United States. This will be followed by the release of the latest consumer prices for Europe, and the preliminary figures of newly issued US building permits midweek. Additionally, the Federal Reserve of Philadelphia will present the most recent data from the Philly-Fed manufacturing index the following day.&nbsp; 
 Thursday will present preliminary estimates regarding current sales figures for existing properties in the US housing market. Moreover, quarterly figures from major US bank Bank of America on Tuesday, along with those from car manufacturer Tesla on Wednesday evening, will offer further insights into the economic landscape in the United States. 
 <h3 id="us-retail-sales-data">US Retail Sales Data</h3> 
 The US Census Bureau will publish June’s final retail sales data, a significant consumer sentiment indicator. If retail sales stabilize and exceed expectations of a +0.5 percent increase, it could boost consumer sentiment, potentially benefiting the US dollar index (DXY) and the crypto market. However, falling short of the estimate may solidify the ongoing price consolidation. 
 <h3 id="eu-consumer-prices">EU Consumer Prices</h3> 
 Eurostat will release the final consumer prices for Europe in June, with expectations of a decline in inflation. A decrease in inflation would positively impact the European stock market and stabilize the crypto market. Conversely, higher-than-expected EU consumer prices would exacerbate inflation issues and negatively affect European financial markets, potentially impacting Bitcoin prices. 
 Additionally, the Census Bureau will present preliminary estimates for US building permits in June. Market observers anticipate a slight decline in permits granted compared to the previous month. Meeting or exceeding these estimates could boost the US stock market and contribute to Bitcoin’s value. 
 <h3 id="philadelphia-fed-index">Philadelphia Fed Index</h3> 
 The release of the Philadelphia Fed’s manufacturing index will provide insights into the business prospects of US industrial companies. A positive outcome would indicate stability and potentially lead to positive US stock and crypto market reactions. Conversely, a significantly lower-than-expected index could suggest economic weakening, leading to corrections in both markets. 
 Additionally, the sales figures for existing properties in June are expected to show a slowdown. Surpassing estimates would weaken the US dollar, benefiting Bitcoin and other cryptocurrencies. However, if sales decline as projected, the US dollar may rebound, creating selling pressure in the stock and crypto markets.
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