ETF Decisions Deferred, DeFi Scores A Huge Win in the Courts

In July, the core personal consumption expenditures (PCE) index increased by 0.2% month-over-month and 4.2% year-over-year, meeting economists’ projections. This led to a significant pullback in rates and a bond market rally. Surprisingly, the Dollar Index (DXY) also surged, likely exerting downward pressure on cryptoasset prices. Amid these market dynamics, major equity indices experienced slight gains. BTC retraced its earlier post-Grayscale rally gains, a trend also seen in Ethereum and other altcoins. The exception was Maker (MKR), which rose around 10% without an identifiable catalyst. As the week progresses, investor focus is shifting toward the non-farm payroll data due out on Friday, with economists forecasting 170k job additions.