Bitcoin price faces 5 macro tests this week

Bitcoin traded near $62,747 early on Aug. 3 after reaching an intraday high of $63,697, as investors prepared for five major U.S. economic releases and several closely watched corporate earnings reports. Summary Bitcoin traded near $62,747 after briefly reaching $63,697 as Iran de-escalation produced only limited gains. Five major U.S. releases culminate Friday with July payrolls, shaping expectations for Federal Reserve policy. AMD, SpaceX and Sandisk report this week, adding corporate catalysts beside major U.S. labor releases. The week begins with the July ISM Manufacturing PMI on Monday. It ends with the official July employment report on Friday. Between those releases, traders will receive job-opening data, private payroll figures and the ISM Services PMI. Together, the reports could alter expectations for Federal Reserve policy after officials kept interest rates unchanged last week. Bitcoin’s response to Iran diplomacy remains muted The first potential catalyst arrived before the U.S. trading week began. President Donald Trump canceled planned strikes against Iran and said negotiations intended to reopen the Strait of Hormuz would begin on Monday. BREAKING: US stock market f...