Next week (June 29 to July 5) is set to be a pivotal period for crypto markets, with a confluence of macro data releases and regulatory deadlines.
Macro Data: US June Nonfarm Payrolls
On Friday July 3, the US will release the June nonfarm payrolls report, the most critical economic indicator ahead of the Fed's July rate decision. A stronger-than-expected reading could reinforce rate hike expectations, weighing on risk assets; a weaker print could fuel a market rebound.
Regulatory Storm: MiCA Transition Grace Period Ends
The 18-month transition grace period under the EU's Markets in Crypto-Assets (MiCA) regulation expires on June 30. Crypto platforms that have not obtained a full license must cease operations in the EU. Several major exchanges have already announced partial withdrawals or license applications, and a wave of shutdown notices is expected next week.
Mining and ATM Bans: Russia, Tennessee Take Effect
Russia's crypto mining ban takes effect July 1, prohibiting industrial-scale mining in certain regions. Meanwhile, Tennessee (USA) will enforce new restrictions on crypto ATMs, requiring operators to register customer information and impose daily limits.
Other Key Events
On the hardware side, Hikvision has announced hard drive price increases, impacting miners' storage costs. Polygon zkEVM Beta will sunset on July 5; users must migrate assets beforehand. Securitize plans to list on the NYSE next week, becoming the first compliant tokenized securities platform. Trump's crypto campaign account also opens for registration, likely amplifying market sentiment swings.
Source: MarsBit