FOMC Minutes Drop This Week While SpaceX Rockets Into the Nasdaq 100 With 18,712 BTC on Board 🚀

Investors are bracing for the release of U.S. Federal Open Market Committee minutes on July 8 at 2:00 p.m. ET, with market participants watching for signals on the central bank's next move after the Federal Reserve held policy rates unchanged at its most recent gathering. Hawkish expectations have intensified after commentary attributed to Fed Chair Kevin Warsh suggesting a tighter path ahead, and analysts have pointed to ongoing inflationary pressure as a potential driver of further monetary tightening, a scenario that could weigh on digital assets by curbing risk appetite.

The macro calendar is crowded around the FOMC release. The S&P Global Services PMI Final for June is due July 6 at 9:45 a.m. ET (estimate 51.3; previous 50.7), followed by the ISM Services PMI for June (previous 54.5). U.S. Consumer Inflation Expectations for June arrive July 7 at 11:00 a.m. ET (previous 3.5%), and China's Consumer Price Index YoY for June follows on July 8 at 9:30 p.m. ET (previous 1.2%). Weekly U.S. Initial Jobless Claims for the period ending July 4 are scheduled July 9 at 8:30 a.m. ET (previous 215K), the same day Fed's Williams is set to deliver a keynote discussion titled "The Future of Market Liquidity and Functioning" at 9:00 a.m. ET. Canada's Unemployment Rate for June closes the week on July 10 at 8:30 a.m. ET (previous 6.6%).

Crypto-linked equities are also in focus. American Bitcoin ($ABTC) is set to trade following a 1-for-15 reverse stock split that reduced total outstanding shares to about 73 million. SpaceX ($SPCX) is scheduled to join the Nasdaq 100 on July 7, becoming the fourth member of the tech-heavy index to hold bitcoin ($BTC $64,145.76), alongside Tesla ($TSLA), Strategy ($MSTR) and Mercado Libre ($MELI). The company holds 18,712 BTC and is expected to carry more weight in the index than the latter two. Berachain ($BERA) is slated to undergo its PoL Next upgrade on July 7.

Governance activity continues in parallel. ENS DAO is voting on an executable proposal to renew its Security Council for a two-year term, deploy an updated contract with an extension function, and rotate one multisig signer, with voting ending July 6. Frax DAO is voting to allocate 42,000 wFRA. Beyond scheduled events, bitcoin's negative correlation to the yen-dollar exchange rate has been unusually high, with $BTC tending to rise when the yen weakens, a dynamic traders are monitoring alongside geopolitical developments.