According to the source, the U.S. CPI inflation report is the most likely market-moving release this week because it directly shapes Federal Reserve rate expectations and Treasury yields that drive cross-asset risk appetite (source: U.S. Bureau of Labor Statistics; source: Federal Reserve Board). For crypto, BTC and ETH have historically shown heightened intraday volatility around CPI prints as interest-rate expectations and the U.S. dollar reprice in response to inflation surprises (source: CME Group; source: International Monetary Fund). Services PMI is a secondary catalyst, with prices-paid and input-cost components influencing growth and inflation signals that can nudge yields and the dollar, indirectly impacting crypto risk sentiment (source: S&P Global). University of Michigan Consumer Sentiment, particularly 1-year and 5–10-year inflation expectations, can incrementally move rate expectations and risk assets when they deviate from consensus (source: University of Michigan Surveys of Consumers). EIA crude oil inventories can swing WTI and energy equities in the short term and affect gasoline-sensitive inflation expectations, but the pass-through to core CPI and policy expectations is typically more limited near-term (source: U.S. Energy Information Administration; source: U.S. Bureau of Labor Statistics). Existing Home Sales data informs housing turnover and demand, yet shelter inflation in CPI moves with a lag to rents, so its immediate impact on broad market pricing is usually smaller than headline CPI (source: National Association of Realtors; source: U.S. Bureau of Labor Statistics). Trading focus: prioritize CPI risk management for BTC and ETH, then watch Services PMI price subindexes and Michigan long-run inflation expectations for secondary impulses to yields, the dollar, and crypto volatility (source: CME Group; source: S&P Global; source: University of Michigan).

According to @KobeissiLetter, traders should closely monitor several key events this week: the July S&P Global Services PMI on Monday and the ISM Non-Manufacturing PMI on Tuesday, which historically move both equity and crypto markets by signaling economic strength or weakness. The 10-Year Note Auction on Wednesday and Initial Jobless Claims data on Thursday will provide crucial insight into U.S. economic health and interest rate outlook, with direct implications for risk sentiment and crypto market volatility. Additionally, five scheduled Fed speaker events and earnings reports from about 20% of S&P 500 companies could drive market-wide volatility, potentially impacting Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies as traders adjust positions in response to macroeconomic signals and equity performance (source: @KobeissiLetter).

According to MilkRoadDaily, traders should closely monitor several major economic events this week, including the release of S&P Global Services PMI and ISM Non-Manufacturing PMI data, as well as the latest Initial Jobless Claims figures. Additionally, around 20% of S&P 500 companies are reporting earnings. These events are likely to impact traditional markets and crypto price action, as macroeconomic data and corporate earnings can influence risk sentiment and liquidity flows (source: MilkRoadDaily via Twitter, May 5, 2025).