Crypto markets were largely unchanged over the past 24 hours, though they received a boost over the weekend after US President Trump suggested a “largely negotiated” deal with Iran was imminent.
“It also appears further progress has been made toward a 60-day ceasefire extension for the Iran War,” noted the Kobeissi Letter.
This week brings a series of important inflation and growth reports that could increase pressure on the economy and the Federal Reserve.
Economic Events May 25 to 29
US markets will be closed on Monday for Memorial Day, but investors may still see movement in stock futures and crypto markets as they react to any developments related to a US-Iran agreement.
In his latest remarks, Trump was characteristically evasive. “If I made a deal with Iran, it will be a good and proper one,” he said, responding to earlier comments that implied a deal was nearly finalized.
According to Axios, the White House no longer expects an announcement on a deal with Iran on Monday and believes it may take “several more days.”
Tuesday begins the week’s economic calendar with May’s consumer confidence report, a release that will reflect recent inflation trends.
Thursday is the major data day, with April’s Personal Consumption Expenditures (PCE) Price Index and the first-quarter GDP figures scheduled for release.
“Headline spending will be lifted by higher gasoline prices, but otherwise we are likely to see some weakness,” said ING economist James Knightley in a note.
He added that the PCE figures “will do little to ease inflation concerns in an environment where freight costs are rising appreciably in response to higher motor fuel costs.”
Key Events This Week:
1. US-Iran Agreement Details – Expected Today
2. US Markets Closed, Memorial Day – Monday
3. May Consumer Confidence data – Tuesday
4. April PCE Inflation data – Thursday
5. US Q1 2026 GDP data – Thursday
6. April New Home Sales data – Thursday
We…
— The Kobeissi Letter (@KobeissiLetter) May 24, 2026
New home sales for April and weekly jobless claims will also be published this week, but market attention will likely remain centered on any announcements from the White House regarding a deal with Iran.
Crypto Market Outlook
Total crypto market capitalization was essentially flat over the past day, although Bitcoin and other major coins bounced back quickly after a sharp Saturday sell-off.
Bitcoin briefly dropped to $76,000 late Sunday but recovered to trade around $77,000 during the Monday morning Asian session. Immediate resistance sits near $78,000, a level that could be tested or breached if positive developments on an Iran agreement surface this week.
Ether has shown continued weakness, trading below $2,100 on Monday morning.
Altcoins were mostly muted, with small gains reported for projects such as Hyperliquid, Zcash, and Monero.