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 -2.95%  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.