Cryptocurrency Market Faces Turbulence with Key Economic Data and Political Moves

Key Points

1. June’s inflation data, including the Consumer Price Index (CPI) and Producer Price Index (PPI), is expected to influence market sentiment, with CPI projected to rise by 0.3% monthly and 2.6% annually.

2. President Donald Trump announced a 30% tariff on the European Union, which may impact market volatility and capital flows between stocks and cryptocurrencies.

3. The Cryptocurrency Week in Congress involves discussions on key regulations like the GENIUS Act (stablecoins), CLARITY Act (cryptocurrency classifications), and Anti-CBDC Act (limiting central bank digital currencies).

4. Republicans support regulatory clarity, but Maxine Waters’ 'Anti-Cryptocurrency Corruption Week' initiative may slow legislative progress.

5. Market experts warn of potential volatility in both stock and cryptocurrency markets due to economic data and trade war developments.