4 things that could impact cryptocurrency markets this week

A busy week lies ahead on the US economic calendar with a raft of inflation data, while tensions rise once again in the Middle East.

Cryptocurrency markets largely maintained their gains over the weekend, but looked a bit shaky on Monday morning as traders digested the latest developments between the US and Iran.

The United States has Fired Several waves of strikes on Iran in response to an Iranian attack on another container ship in the Strait of Hormuz. Iran announced the closure of the strait, while President Trump said otherwise.

Meanwhile, some heavy inflation reports could further destabilize sentiment and increase volatility as the bear market continues.

“The second quarter earnings season of 2026 has arrived, and tensions in the Strait of Hormuz have risen again,” Al Qubaisi’s message said.

Economic events from July 13 to 17

US Central Command reported Monday morning that forces had begun launching more strikes against Iran “to further weaken its ability to attack civilian mariners and commercial vessels that freely transit the Strait of Hormuz.”

Crude oil prices rose nearly 4%, with WTI and Brent reaching $74.50 and $79, respectively, while US stock futures opened slightly lower.

June CPI inflation data is scheduled to be released on Tuesday, which could increase market volatility. This is followed by Wednesday’s Producer Price Index (PPI) data, which measures wholesale inflation.

Annual measures for both the headline CPI and PPI are expected to rise by 3.8% and 6.2%, respectively. I mentioned Yahoo Finance. Rising inflation will increase pressure on the Fed to raise interest rates, which is bad news for riskier assets like cryptocurrencies. The escalation of military action in the Middle East is also not good for allaying concerns about inflation.

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June retail sales data and July Philadelphia Manufacturing Index reports are due on Thursday, followed by Michigan July inflation expectations and consumer confidence reports on Friday.

Main events this week:

1. Markets react to the closure of the Strait of Hormuz – today, 6pm ET

2. Consumer Price Index inflation data for June – Tuesday

3. Producer Price Index inflation data for June – Wednesday

4. Retail sales data for June – Thursday

5. Philadelphia Manufacturing Index for July – Thursday

6. July MI Inflation…

– Al Qubaisi Letter (@KobeissiLetter) July 12, 2026

Several Wall Street banks and finance giants reported second-quarter 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.

Crypto market forecast

The total market cap remained steady over the weekend, at around $2.26 trillion with a very slight decline on Monday morning following the latest airstrikes.

He had Bitcoin The ground was held Just over $64,000 over the last 12 hours or so but fell to $63,400 during early trading, where it remains at the time of writing.

Ether prices fared slightly better, holding above $1,800 for most of the past day after rising 15% over the past two weeks. Escalating conflict and rising inflation this week could cause prices to fall significantly.