Markets As we speak – July 6, 2026

Every day evaluation of crypto markets and the forces shaping them, from the Nexo analysis desk.

Bitcoin holds features as Fed tightening fears ease

Bitcoin is holding most of final week's features, with Fed tightening fears easing after Thursday's weaker-than-expected jobs report. The overall crypto market cap is regular close to $2.17 trillion, up 0.4% over the previous 24 hours. U.S. equities opened larger on Monday, whereas oil eased after OPEC+ agreed so as to add an additional 188,000 barrels per day from August. Gold slipped because the greenback firmed off two-week lows.The week's predominant occasion is Wednesday's June FOMC minutes, the primary beneath Kevin Warsh. The tone is anticipated to be hawkish, however with ahead steering stripped from the assertion, markets will scrutinize the minutes for any learn on the trail forward.

Bitcoin
Bitcoin is hovering close to $63,000, softening throughout Monday's session after a six-day rally that lifted costs from late-June lows round $58,500. Regardless of final week's restoration, the asset stays pinned beneath its 50-day and 200-day shifting averages, marking the transfer as a reduction bounce inside a broader downtrend.

Order-book information provides color. Liquidity improved through the climb: bid-ask spreads tightened and slippage fell, so the market can now digest bigger orders with much less value influence. The e-book's skew additionally evened out. Glassnode information exhibits Bitcoin's order e-book was closely tilted to the bid on the June 30 trough, the place resting bids absorbed a peak in taker promoting that marked the underside, however has since eased again to steadiness. A balanced e-book is a constructive sign: it factors to two-way move fairly than one-sided stress, a more healthy and extra usually functioning market with energetic market makers quoting either side. Taken with the tighter spreads, that implies liquidity suppliers are re-engaging fairly than stepping again.

Whereas spot Bitcoin ETFs confronted an eighth week of outflows, with June seeing roughly $4.5 billion in exits, final week recorded the primary internet influx since mid-month, signaling sell-side stress could also be tapering. Following final week's jobs information, markets at the moment are centering on Wednesday's FOMC minutes for the following directional sign.

Ethereum & Altcoins
Ethereum is buying and selling round $1,770, up roughly 12% over the previous week however stalling just under $1,800 after tagging that degree and easing again. The transfer has been broad. Solana has added about 11% over the identical stretch, XRP round 9%, and Dogecoin shut to six%, whereas Hyperliquid's HYPE has led at roughly 13%. On the day, most majors are little modified because the market consolidates final week's advance fairly than extending it. HYPE is the exception, up about 3.6% over 24 hours. Derivatives positioning seems constructive however not stretched. As per Glassnode information Ethereum's perpetual futures open curiosity in native items  has rebuilt however stays round 11% beneath its early-June report, and funding charges have held modestly constructive, according to longs rebuilding with out extra leverage.

Macro & Institutional
Actions throughout asset lessons are being pushed primarily by shifting charge expectations. Final week's mushy payrolls trimmed bets on near-term Fed tightening however didn't reverse them. Markets nonetheless lean towards a hike this 12 months, not a minimize. That bias is setting the cross-asset tone. The greenback has firmed off two-week lows, pulling gold again from its latest rebound. Oil has drifted decrease after OPEC+ agreed on July 5 so as to add one other 188,000 barrels per day from August. That extends the June and July will increase right into a market already nicely equipped, with Strait of Hormuz flows recovering and Chinese language demand mushy. Cheaper crude is the one disinflationary crosscurrent to the tightening story, although it has shifted it little. Fairness futures held larger after the lengthy weekend, led by the Nasdaq 100. The through-line is charge uncertainty. A firmer greenback and higher-for-longer expectations elevate the chance value of non-yielding belongings. That weighs on gold and leaves crypto buying and selling off the identical dollar-and-yields sign.

Wanting Forward
Gentle on information, the week arms the Fed the wheel. Wednesday's June FOMC minutes are the primary driver, the primary beneath Kevin Warsh, and the anticipated learn is hawkish. Monday's ISM Companies launch is the one print price watching, for whether or not costs paid ease from a multi-year excessive, with Fed and ECB audio system filling the session. For crypto, absent idiosyncratic digital-asset catalysts, the greenback and yields maintain management. A hawkish minutes learn is the primary danger to urge for food.

Creator: Dessislava Ianeva, Analyst at Nexo’s Dispatch

This materials is produced by Nexo for informational functions solely and doesn't represent monetary, funding, authorized, or tax recommendation, or a suggestion to transact in any digital asset. Views are the creator's as of the date of publication and will change with out discover. Info is from sources believed dependable, however Nexo makes no guarantee as to its accuracy and accepts no legal responsibility for any loss arising from reliance on this materials.