Crypto markets remained largely range-bound over the past 24 hours, though sentiment briefly improved over the weekend after U.S. President Donald Trump suggested that a “largely negotiated” agreement with Iran may be nearing completion.
According to market commentary from The Kobeissi Letter, there are also signs of potential progress toward a proposed 60-day ceasefire extension in the Iran conflict—adding another layer of geopolitical uncertainty for traders to monitor.
Macro Data in Focus as Inflation Signals Loom
This week’s market direction is expected to be heavily influenced by key U.S. economic releases, particularly inflation-related indicators that could shape Federal Reserve policy expectations.
With U.S. markets closed on Monday for Memorial Day, liquidity may be thinner, though futures and crypto assets could still react to headlines surrounding a potential U.S.–Iran agreement.
Trump’s recent comments remained cautious, stating that any deal would be “good and proper,” while also downplaying expectations of an immediate announcement. Meanwhile, reporting from Axios suggested the White House no longer anticipates an agreement being finalized immediately, with negotiations potentially extending several more days.
Key Data Releases Ahead
Attention will shift sharply on Tuesday with the release of U.S. consumer confidence data for May, offering insight into how inflation pressures are affecting households.
Thursday is expected to be the most significant macroeconomic session of the week, featuring:
- April Personal Consumption Expenditures (PCE) Price Index
- First-quarter GDP figures
- Additional labor market updates including weekly jobless claims
- April new home sales data
Economists warn that higher energy prices—particularly gasoline—may temporarily lift headline spending, while underlying demand conditions could show softness. Inflation concerns are also expected to remain elevated as rising freight and fuel costs continue to feed through the economy.
Crypto Market Outlook: Bitcoin Stabilizes, Ether Under Pressure
Crypto total market capitalization has remained largely unchanged over the past day, although volatility persists beneath the surface.
Bitcoin briefly dropped to around $76,000 during late Sunday trading but rebounded quickly, reclaiming the $77,000 level in early Asian trading hours. Traders are now watching the $78,000 resistance zone, which could be tested if geopolitical headlines turn favorable this week.
Ether, however, continues to show relative weakness, slipping below the $2,100 level.
Among altcoins, most major assets remained flat, with modest gains seen in Hyperliquid, Zcash, and Monero.
