Crypto Markets Tumble as US Economic Calendar Unfolds

This week promises to be eventful, with the US economic calendar overflowing with key data releases and announcements.

The Federal Reserve will take center stage, as speeches from new leadership may offer insight into future interest rate decisions. Labor market data and Nvidia's earnings report will also attract significant attention.

Meanwhile, the ongoing conflict in Iran enters its 80th day on Tuesday, with no signs of a breakthrough. As a result, oil prices have spiked to $108 per barrel, causing crypto markets to plummet.

Crypto market capitalization has fallen by approximately $130 billion over the weekend, hitting a three-week low of $2.64 trillion. Bitcoin and Ether led the losses, with BTC falling below $77,000 and ETH dipping to its lowest level since April 7.