Crypto Week Ahead: U.S. Labor Data, Earnings Reports and Token Events in Focus

Bitcoin began the week trading just below $63,000, with Friday’s U.S. jobs report expected to be the key factor determining whether the cryptocurrency’s July recovery can continue. However, geopolitical developments involving Iran could also become a major influence on market sentiment in the coming days.

A modest increase in U.S. employment could create a favorable environment for risk assets such as crypto. A softer jobs figure would ease concerns about a sharp economic slowdown while reducing the possibility of the Federal Reserve moving toward higher interest rates.

IG market analyst Tony Sycamore said a payroll increase of roughly 88,000 jobs with the unemployment rate remaining steady at 4.2% would represent a balanced “Goldilocks” outcome for markets.

Another major focus will be the U.S. Treasury’s debt issuance plans. JPMorgan strategist Jay Barry expects the Treasury to maintain its regular borrowing schedule, which could help prevent additional pressure on interest rates. Larger-than-expected debt sales, however, could increase borrowing costs for consumers and businesses and potentially weigh on crypto markets.

Investors will also be watching quarterly earnings from crypto-focused companies, including Circle, Galaxy, Block, and several bitcoin miners. Meanwhile, Bitcoin proposal BIP-110 is expected to enter its required miner signaling stage, aiming to temporarily limit non-financial data storage on the blockchain.

With current support levels below 3%, BIP-110 is unlikely to influence Bitcoin’s main network. Instead, limited adoption could push participating nodes toward a smaller alternative chain rather than creating a broader network change.

Key Dates to Watch

Crypto Developments

Aug. 3: Ctrl Wallet begins its wind-down process, disabling transfers, deposits, swaps, and decentralized application access while allowing users to export their funds.

Around Aug. 7: BIP-110’s mandatory miner signaling period is scheduled to begin at Bitcoin block 961,632.

Macro Calendar

Aug. 3, 10 a.m. ET: U.S. ISM Manufacturing PMI for July (previous: 53.3)

Aug. 4, 10 a.m. ET: U.S. JOLTS Job Openings report for June (previous: 7.594 million)

Aug. 5, 8:15 a.m. ET: U.S. ADP Employment Change report for July (previous: 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: 54)

Aug. 6, 5 a.m. ET: Eurozone Retail Sales data for June (previous: 1.6% year-over-year)

Aug. 6, 8:30 a.m. ET: U.S. Initial Jobless Claims for the week ending Aug. 1 (previous: 197,000)

Aug. 7, 8:30 a.m. ET: U.S. July Jobs 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 year-over-year inflation (previous: 1.0%) and monthly inflation (previous: -0.3%)

Earnings Schedule

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
• TeraWulf (WULF), before market open
• MercadoLibre (MELI), after market close
• Block (XYZ), after market close

Aug. 6:

• CleanSpark (CLSK), after market close
• MARA Holdings (MARA), after market close

Governance Votes

Several decentralized protocols are holding governance votes this week:

• Stake DAO is voting on extending SDGP-70 compensation to Arbitrum asdCRV LlamaLend borrowers affected by the May 27 vsdCRV oracle manipulation. Voting ends Aug. 3.
• 1inch DAO is voting on the SEAL Safe Harbor Agreement, which would provide legal protection and up to $500,000 in rewards for whitehat hackers recovering funds during active exploits. Voting concludes Aug. 3.
• Giveth DAO is voting on allocating 8.5 million GIV tokens to extend staking rewards on Optimism and Gnosis Chain until February 2027. Voting ends Aug. 3.
• QuickSwap is deciding whether to keep the Old QUICK-to-New QUICK conversion process open permanently or introduce a six-month transition period. Voting ends Aug. 4.
• GoodDollar DAO is voting to establish its first Treasury Committee for budget oversight and member recruitment. Voting ends Aug. 5.
• Orbs is voting to formally create the Orbs DAO, launch initial multisig wallets, and delegate core responsibilities. Voting ends Aug. 6.

Token Unlock Calendar

Aug. 3:

• Bittensor (TAO): 2.3% of circulating supply unlocked, worth approximately $41.3 million.
• SUI: 0.6% of circulating supply unlocked, valued at about $17.2 million.

Aug. 5:

• Succinct (PROVE): 116.7% of circulating supply unlocked, worth roughly $39.3 million.

Aug. 7:

• Layer One X (L1X): 7.4% of circulating supply unlocked, valued at approximately $146.9 million.
• JTO: 3.9% of circulating supply unlocked, worth around $8.5 million.

Aug. 8:

• Stable (STABLE): 3.7% of circulating supply unlocked, valued at approximately $30.3 million.

Token Launches and Exchange Updates

Aug. 3: Kayan will launch its KYN token generation event and begin listing on the Panoptes PBC ATS marketplace.

Aug. 7: Coinbase Prime will remove support for IDEX, Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and FIS.