Will Bitcoin Swing Like a Wild West Rodeo? Discover What’s Coming Next Week! 🤠💰

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In a curious dance, the crypto markets hover like a restless ghost at the edge of an all-time high, hovering at $4 trillion. Altcoins, those brash upstarts, seem to be holding their heads high these days, strutting about as if they own the saloon.

The past week scrawled its tale across the economy’s parchment, revealing a modest heartbeat—retail sales are rising like the morning sun, and jobless claims tumble down like a spent poker chip. Even the CPI and PPI reports whisper mild tales of price stability, as if they too are players in this unpredictable game.

Yet, as we stroll into the week ahead, we find housing data and PMIs lining up like indifferent cowboys at a watering hole, rarely stirring the pot of crypto action. To top it all, the weekend passed with quieter tariff news than a desert without wind.

Economic Events July 21 to 25

Come Wednesday, the world shall bear witness to June’s existing home sales reports—a window to see how the housing market is faring. But let’s be honest, they matter less in the grand casino of high-risk assets, like a tumbleweed at a banquet.

Then on Thursday, we’ll get the July Global Manufacturing PMI and Services PMI—a fancy way of gathering the tales of producers and providers. These reports usually arrive with the punctuality of a train but impact crypto markets about as much as a chihuahua barking at a bear.

Friday hits us with June’s Durable Goods Orders, and the only excitement here might come from watching paint dry, as it measures the cost of goods that ought to last. What a wild ride!

Key Events This Week:

1. Fed Chair Powell Speaks – Tuesday (Prepare your earplugs!)

2. June Existing Home Sales data – Wednesday (Will it shake a tail feather?)

3. July S&P Global Manufacturing PMI data – Thursday (Yawn…)

4. June New Home Sales data – Thursday (Spoiler: Same as above)

5. June Durable Goods Orders data – Friday (Someone cue the crickets)

6. ~15% of S&P 500 companies report… (Popcorn, anyone?)

— The Kobeissi Letter (@KobeissiLetter) July 20, 2025

Meanwhile, futures markets bet quite heavily—95.3% confident that the Federal Reserve will keep those rates steady a week from now. And oh, those “Magnificent Seven”—tech giants set to regale us with their second-quarter earnings—give a nod to Google’s Alphabet and Tesla. Bet your bottom dollar they’re rolling in it!

Chuck Carlson, head honcho at Horizon Investment Services, tossed out his twirling words: “This earnings season feels like a gambler’s high-stakes game of chance, all twinkling with optimism.”

Crypto Market Outlook

Total market capitalization retreated a touch, a shy suitor following its weekend high, but this year still leaves the door ajar for bullish vibes—up 17.6% so far. Not too shabby for a bunch of digital coins hopping around like happy bunnies!

Bitcoin, that wild mustang, dipped below $117,000 during Sunday’s twilight but galloped back above $118,000 come Monday morning in Asia—its wandering heart seems to enjoy a good adventure around this price. Quite the rollercoaster, wouldn’t you say?

Ethereum still steals the show like a seasoned performer, surging over $3,800, its seven-month high igniting chatter. With a staggering 46% gain in the past fortnight, it has now calmed to a coy $3,744.

On this fine Monday morning, other gallant contenders are showing promise, with Dogecoin pumping 7.4% to hit $0.27, Cardano flirting with $0.87 after a cheeky 4% gain, Stellar bouncing up to $0.48, and Chainlink tiptoeing closer to $20 with a 5% uptick. Must be a fiesta!

 

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2025-07-21 09:38