Bitcoin has climbed back above the $106,000 level as the crypto market recovers from recent dips. On the other hand, Ethereum has reclaimed the $2,500 level showing the growing confidence. Other altcoins are also not left behind as the surge in BTC boosts investor sentiment. 

Because of this, the general crypto market is facing an increase in inflows as retail investors move to capitalize on the rising prices. But as we head into a new week, investors must keep watch of some key U.S Economic data that could affect the crypto market. 

As cryptocurrencies recover from the dip caused by the public feud between the U.S president Donald Trump and Elon Musk, the total crypto market cap has surged in tandem. As per TradingView data, the TOTAL has recorded $147.58 billion inflows for the last 3 days. This marks a 4.72% surge over the weekend with the total crypto market cap surging to $3.27 trillion as at press time. 

If the current momentum continues, the total crypto market cap could climb higher. At the moment, the immediate resistance lies around $3.33 trillion. The next resistance is at $3.39 trillion with a climb past this region having the possibility of pushing the TOTAL even higher. 

However, if the TOTAL fails to climb past the short-term resistance, a rebound to the $3.21 trillion support zone could occur. Failing to hold this level might result in a plunge to the next support at $3.13 trillion, thus wiping out all the recent gains. 

BTC has waded off recent bearish pressure. On the day, the king crypto has surged to $106,272 as per the daily chart on TradingView. This steady surge over the last 3 days comes after BTC fell to $100,400 level on Thursday 6 June. The surge depicts that bulls are now regaining control of the market. 

BTC is currently facing resistance at $107,326 price level. A surge past this level could push Bitcoin to the next resistance at $109,455. Moving past this level with strong volumes could open the doors for a new all-time high. 

In case Bitcoin fails to clear the resistance at $107,326, it might face a rebound to the support at $104,031. Breaching this level might cause yet another price turmoil potentially putting the $100,000 mark on the line. 

Ethereum is also surging in tandem with the price of Bitcoin. Often, the second crypto by market cap mirrors the price of Bitcoin despite recent reports showing that ETH is outperforming BTC, although slightly. 

According to the daily chart on TradingView, ETH is trading at $2,526 as at press time. Continued momentum could push Ethereum past the resistance at $2,608. The market could also face yet another attempt for ETH to breach the resistance at $2,705 for a fourth time over the last one month. 

In case bulls fail to back the current rally, Ethereum might continue consolidating around $2,500. A potential dip to the $2,415 resistance might also occur if the sellers take control yet again. If this support is breached, the next support lies at $2,305 price level. 

This week there are various U.S. economic data that could affect investors sentiment in the crypto market. They include the CPI Inflation data to be released on Wednesday, the PPI Inflation data and Jobless Claims set for Thursday, and the Consumer Sentiment data and Consumer Inflation Expectations set for Friday. 

🇺🇸U.S. ECONOMIC DATA THIS WEEK:

• CPI INFLATION (WED.)
• PPI INFLATION (THURS.)
• JOBLESS CLAIMS (THURS.)
• CONSUMER SENTIMENT (FRI.)
• INFLATION EXPECTATIONS (FRI.)$DIA $SPY $QQQ $VIX pic.twitter.com/p6hex5gEpN

— Investing.com (@Investingcom) June 8, 2025

The CPI and PPI inflation data, is set to strongly affect the crypto market sentiment. If the CPI rate is higher than forecasted on Wednesday, it may point to lingering rising prices. This might make investors worried that the Federal Reserve will keep interest rates high for a long time. These fears usually cause investors to sell their holdings in Bitcoin and other volatile coins. 

In the same way, the release of Thursday’s PPI data could help show how much companies are experiencing inflation at their core in production. In the event of sticky inflation, predicted by CPI and PPI, crypto prices may drop because of expectations for tougher monetary policies.

However, weak jobless claims on Thursday and a drop in consumer confidence on Friday could lift the crypto market for a short period. If jobless claims go up and people’s confidence about the future weakens, this might push the Fed to cut interest rates and support market prices. If the expectations about inflation do not change or decline, the market may interpret it favorably and cause crypto values to rise. All in all, traders will quickly react to events, and investors should expect the market to be volatile.