Crypto markets have largely held on to gains over the weekend, but were looking a little shaky on Monday morning as traders digested the latest developments between the US and Iran.
The US has launched several waves of strikes on Iran over an Iranian attack on another container ship in the Strait of Hormuz. Iran has declared the Strait closed, while President Trump said otherwise.
Meanwhile, some heavy inflation reports could further rattle sentiment and add to the volatility as the bear market drags on.
“Q2 2026 earnings season has arrived, and Strait of Hormuz tensions are mounting again,” said the Kobeissi Letter.
US Central Command reported on Monday morning that forces began launching more strikes against Iran “to continue degrading their ability to attack civilian mariners and commercial ships freely transiting the Strait of Hormuz.”
Crude oil prices were up around 4%, with WTI and Brent hitting $74.50 and $79, respectively, while US stock futures opened slightly lower.
June’s Consumer Price Index (CPI) inflation data is due on Tuesday, which could add to the market volatility. This is followed by the Producer Price Index (PPI) data out on Wednesday, measuring wholesale inflation.
Year-on-year measures for both headline CPI and PPI are expected to rise by 3.8% and 6.2%, respectively, reported Yahoo Finance. Rising inflation will put more pressure on the Federal Reserve to hike rates, which is bad news for risk-on assets such as crypto. The escalation of military action in the Middle East is also not good for dampening inflation concerns.
June Retail Sales data and July Philly Fed Manufacturing Index reports are due on Thursday, followed by July’s Michigan Inflation Expectations and Consumer Sentiment reports on Friday.
Key Events This Week:
1. Markets React to Strait of Hormuz Closure – Today, 6 PM ET
2. June CPI Inflation data – Tuesday
3. June PPI Inflation data – Wednesday
4. June Retail Sales data – Thursday
5. July Philly Fed Manufacturing Index – Thursday
6. July MI Inflation…
— The Kobeissi Letter (@KobeissiLetter) July 12, 2026
Several Wall Street banks and finance giants are reporting Q2 earnings this week, including JPMorgan Chase, Goldman Sachs, Bank of America, Wells Fargo, and Citibank on Tuesday, followed by Morgan Stanley and BlackRock on Wednesday.
Total market capitalization has remained steady over the weekend, hovering around $2.26 trillion with a very minor dip on Monday morning after the latest airstrikes.
Bitcoin had held ground just above $64,000 for the past 12 hours or so but dipped to $63,400 during early trading, where it remains at the time of writing.
Ether prices fared a little better, holding above $1,800 for most of the past day following a 15% gain over the past fortnight. Escalation of conflict and higher inflation this week could send both much lower.
The post 4 Things That Could Impact Crypto Markets This Week appeared first on CryptoPotato.
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