Your day-ahead look for July 8, 2026
By Omkar Godbole|Edited by Sheldon Reback Jul 8, 2026, 11:15 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Donald Trump informed NATO leaders that the ceasefire with Iran has ended as airstrikes resume. (Win McNamee/Getty Images)SummaryShowThis is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
Bitcoin BTC$62,258.25 is currently at a critical juncture, with market analysts observing mixed inflation indicators. The situation has been complicated further by recent escalations in the Middle East, particularly involving Iran, which are impacting oil prices.
Earlier in the week, it was noted that inflation breakevens—reflecting bond market expectations for future living costs—have significantly decreased, which could weaken the rationale for the Federal Reserve to raise interest rates, providing a boost for BTC.
However, a survey from the Federal Reserve Bank of New York released Tuesday indicates that U.S. consumers are not aligned with market sentiments.
Consumers now anticipate inflation to rise to 3.7% in the coming year, an increase from 3.5% in May and the highest prediction since September 2023. Over the next three years, inflation expectations rose to 3.3%, the highest since June 2022.
Federal Reserve Chair Kevin Warsh has reiterated the bank's commitment to reducing inflation to 2%, leaving little room for those hoping it would accommodate higher inflation or yield to political pressure for rate reductions.
The question remains whether the Fed will prioritize breakevens, which are currently at or below 2% on the short end, or the rising consumer inflation concerns.
The Fed typically favors breakevens as they represent institutional capital allocation, while consumer surveys often lag and can be swayed by volatile costs like energy and food. Thus, the argument that declining breakevens support bullish sentiment for bitcoin continues to be valid.
Nonetheless, the central bank may not completely disregard consumer sentiment, which can become self-reinforcing if energy prices remain unstable.
In a significant development, the U.S.-Iran ceasefire has been officially terminated. The two nations conducted airstrikes against each other today, causing oil benchmarks to surge approximately 5%. Bitcoin has retreated to around $62,000 and could decline further if the market panic spreads to Wall Street later today.
Analysts are also monitoring the release of the Fed’s minutes from the June meeting, expected later today.
“Wednesday’s Fed minutes are crucial. With a crowded long position and high funding costs, a hawkish interpretation could trigger a sell-off and the Strategy authorization looms over any rally. While we acknowledge the recent bounce, we remain cautious and advise keeping positions manageable ahead of the minutes,” analysts at Marex stated in an email.
Stay vigilant!
For further insights into today’s altcoin and derivatives market activity, check out Crypto Markets Today. For a detailed schedule of events this week, refer to CoinDesk's "Crypto Week Ahead.
What’s trending
- Bitcoin under pressure as Trump says Iran ceasefire is over (CoinDesk): The cryptocurrency market faced pressure following airstrikes between the U.S. and Iran, which strengthened the dollar and coincided with President Donald Trump's announcement that the ceasefire had ended.
- Dow futures drop 700 points, oil surges after Trump declares Iran ceasefire ‘over’ (CNBC): Stock futures plummeted amid renewed tensions in the Middle East, with Dow futures falling by 705 points, or 1.3%, while oil prices surged over 6%.
- Crypto exchange Kraken is trying to become a bank in Europe (CoinDesk): Kraken, which plans to go public in the U.S., is seeking a full banking license in Europe, focusing on Lithuania for this goal, as per sources familiar with the matter.
- BlackRock-backed Securitize slides 40% after SPAC debut despite tokenization boom (CoinDesk): Securitize (SECZ), the tokenization firm supported by BlackRock, has faced a challenging start after its public debut, with shares dropping by approximately 25% on Tuesday despite a surge in tokenization trends.
Today’s signal
CC's daily chart. (TradingView)The chart depicts daily price fluctuations of Canton Network's CC token in candlestick format.
The price has fallen to its lowest level since January, breaking through the support established in March at around 13.5 cents. This breach shifts attention to the next support level of approximately 10 cents, which was the low recorded in January.
A support level is where demand previously returned after a decline, leading to upward movement. Falling below such a level indicates a weakening of demand.
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SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
In June, the stablecoin market cap decreased to $312B, marking its largest monthly decline since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
By CoinDesk Research23 hours agoIn June, the stablecoin market cap decreased to $312B, marking its largest monthly decline since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Why it matters:
In June, the stablecoin market cap decreased to $312B, marking its largest monthly decline since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
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