Crypto Markets Face Economic Pressures Amid Ongoing Global Events

Crypto markets have been on the rise over the past week, with Bitcoin reaching a new high of $82,300. However, this week may see a shift in market sentiment due to upcoming economic releases and global events. The US is set to release April's consumer price CPI inflation data, which could add to economic pressures exacerbated by the ongoing conflict with Iran.

The PPI inflation report on Wednesday will provide further insight into inflationary pressures, which are expected to have increased due to the war in the Middle East. Other key releases this week include existing home sales figures and retail sales data, which may indicate consumer confidence levels despite higher energy prices.