Bitcoin ($BTC) and Ethereum ($ETH) attempt to rise amid awaited US economic indicators… Reaching a critical turning point

The U.S. economic schedule predicts a short but significant week, with the cryptocurrency market showing gradual signs of improvement. Last week, the U.S. stock market rose due to easing tensions in the Middle East and expectations of interest rate cuts, but cryptocurrencies responded relatively less sensitively. This week, consecutive economic indicators are expected to potentially impact the Bitcoin (BTC) and major digital asset markets. The Federal Reserve's core Personal Consumption Expenditures (PCE) price index showed an upward trend in May. Fed Chair Jerome Powell forecasted that inflation could become stronger in the summer while maintaining a "cautious wait-and-see" approach. Additionally, President Trump mentioned that the 90-day tariff suspension expiring on July 9th might not need extension, adding economic and trade tension. This week's key economic events start with the June Manufacturing Purchasing Managers' Index (PMI) announcement. The PMI, a crucial leading indicator for manufacturing conditions, will be released on Tuesday. The same day's employment market report will also provide insights into labor demand. Wednesday and Thursday will feature broader labor market indicators like non-farm employment and unemployment rates. These indicators closely influence the future direction of the U.S. economy and the Fed's policy decisions. The June Services PMI will also be announced on Thursday, offering a view of service sector growth momentum. Meanwhile, U.S. traditional financial markets will be closed on Friday for Independence Day. The cryptocurrency market showed a rebound at the start of the week with Asian market opening. The total market capitalization recovered to $346 billion. Bitcoin momentarily rose to $108,750, reaching a two-week high, but soon returned to around $108,500. The ability to break through this resistance point remains a key variable. Ethereum (ETH) showed a slightly better trend, rising 2.8% and recovering the technically important $2,500 point. While altcoins maintained a neutral to slightly bullish flow, Hyperliquid (HYPE) notably surged 7.5%, exceeding $40. Market experts believe this week's economic indicators could directly impact the Fed's interest rate decisions, market liquidity, and risk appetite. Bitcoin and Ethereum are at important resistance points, making this week a crucial turning point for future market direction.