Crypto Week Ahead: Jobs Data, Corporate Earnings and Token Events Take Center Stage
Bitcoin entered the week trading near the $63,000 mark, with Friday’s U.S. employment report expected to be the biggest economic catalyst for determining whether the July recovery can extend further. At the same time, developments involving Iran could become increasingly important for market direction.
A moderate slowdown in U.S. job growth could provide a favorable scenario for crypto and other risk assets. A weaker hiring figure may ease concerns about economic weakness while also reducing the likelihood of the Federal Reserve considering additional rate hikes.
IG market analyst Tony Sycamore said a payroll increase of approximately 88,000 alongside an unchanged unemployment rate of 4.2% would represent a balanced outcome for markets.
Investors will also monitor the U.S. Treasury’s upcoming borrowing plans. JPMorgan strategist Jay Barry expects the Treasury to maintain its current pace of debt issuance, which would help avoid additional upward pressure on interest rates. However, a larger-than-expected increase in borrowing could raise financing costs for consumers and businesses, creating potential headwinds for cryptocurrencies.
Beyond macroeconomic developments, the market will focus on earnings from major crypto-related companies including Circle, Galaxy, Block, and several bitcoin miners. Traders will also follow BIP-110, a Bitcoin proposal aimed at temporarily limiting non-financial data stored on the network, as it moves into its required miner signaling period.
With current support below 3%, BIP-110 is unlikely to modify Bitcoin’s primary blockchain. Instead, if adoption remains limited, it could result in supporters moving to a smaller alternative chain.
Market Events to Track
Crypto Calendar
Aug. 3: Ctrl Wallet will begin its shutdown process, disabling sending, receiving, swaps, and decentralized application access while allowing users to export their assets.
Around Aug. 7: BIP-110’s mandatory miner signaling phase is expected to begin at Bitcoin block 961,632.
Economic Indicators
Aug. 3, 10 a.m. ET: U.S. ISM Manufacturing PMI for July (previous reading: 53.3)
Aug. 4, 10 a.m. ET: U.S. JOLTS Job Openings report for June (previous reading: 7.594 million)
Aug. 5, 8:15 a.m. ET: U.S. ADP Employment Change for July (previous reading: 98,000)
Aug. 5, 8:30 a.m. ET: U.S. Treasury quarterly refunding announcement
Aug. 5, 10 a.m. ET: U.S. ISM Services PMI for July (previous reading: 54)
Aug. 6, 5 a.m. ET: Eurozone retail sales data for June (previous reading: 1.6% year-over-year)
Aug. 6, 8:30 a.m. ET: U.S. initial jobless claims for the week ending Aug. 1 (previous reading: 197,000)
Aug. 7, 8:30 a.m. ET: U.S. July employment report, including nonfarm payrolls (previous: 57,000), unemployment rate (previous: 4.2%), and average hourly earnings (previous: 0.3% month-over-month)
Aug. 8, 9:30 p.m. ET: China July CPI data, including annual inflation (previous: 1.0%) and monthly inflation (previous: -0.3%)
Earnings Watch
Aug. 3: American Bitcoin (ABTC), before market open
Aug. 4: Hut 8 (HUT), before market open
Aug. 5:
- Circle Internet Group (CRCL), before market open
- Galaxy Digital (GLXY), before market open
- Riot Platforms (RIOT), before market open
- MercadoLibre (MELI), after market close
- Block (XYZ), after market close
- TeraWulf (WULF), before market open
Aug. 6:
- CleanSpark (CLSK), after market close
- MARA Holdings (MARA), after market close
Governance Activity
Several crypto projects are scheduled for governance decisions this week:
- Stake DAO will vote on extending SDGP-70 compensation to Arbitrum asdCRV LlamaLend borrowers affected by the May 27 vsdCRV oracle manipulation. Voting ends Aug. 3.
- 1inch DAO will vote on implementing the SEAL Safe Harbor Agreement, which would protect ethical hackers and offer rewards of up to $500,000 for recovering funds during exploits. Voting ends Aug. 3.
- Giveth DAO will vote on allocating 8.5 million GIV tokens to continue staking incentives on Optimism and Gnosis Chain through February 2027. Voting ends Aug. 3.
- QuickSwap will decide whether to keep its Old QUICK-to-New QUICK conversion option open permanently or introduce a six-month transition period. Voting ends Aug. 4.
- GoodDollar DAO will vote on creating its first Treasury Committee to oversee financial planning and member recruitment. Voting ends Aug. 5.
- Orbs will vote on officially establishing the Orbs DAO, creating initial multisig wallets, and transferring foundational responsibilities. Voting ends Aug. 6.
Upcoming Token Unlocks
Aug. 3:
- Bittensor (TAO): 2.3% of circulating supply unlocked, valued at approximately $41.3 million.
- SUI: 0.6% of circulating supply unlocked, worth around $17.2 million.
Aug. 5:
- Succinct (PROVE): 116.7% of circulating supply unlocked, valued at about $39.3 million.
Aug. 7:
- Layer One X (L1X): 7.4% of circulating supply unlocked, worth approximately $146.9 million.
- JTO: 3.9% of circulating supply unlocked, worth about $8.5 million.
Aug. 8:
- Stable (STABLE): 3.7% of circulating supply unlocked, valued at roughly $30.3 million.
Token Launches and Listings
Aug. 3: Kayan will begin its KYN token generation event and list on the Panoptes PBC ATS marketplace.
Aug. 7: Coinbase Prime will delist IDEX, Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and FIS.
