Wall Street braces for summer test with Big Tech earnings and Fed meeting on deck

The last week of July is shaping up to be the kind of gauntlet that makes portfolio managers cancel vacation plans. A Federal Reserve meeting, a wave of Big Tech earnings, and a fresh read on retail crypto engagement are all landing within a 48-hour window, creating the conditions for a meaningful shift in market sentiment across both traditional finance and digital assets. The FOMC is set to convene on July 28-29, and markets are pricing in roughly a 3% probability of a rate cut. In English: nobody expects the Fed to actually do anything. But what Chair Jerome Powell says afterward matters enormously, because the tone of those remarks tends to ripple through every risk asset class, crypto included. The Fed factor and what it means for crypto A hawkish lean, even a subtle one, could tighten financial conditions in ways that hit speculative assets hardest. Bitcoin and Ethereum have historically shown sensitivity to shifts in rate expectations, because liquidity conditions in traditional markets tend to set the floor and ceiling for crypto risk appetite. Conversely, if Powell strikes a more dovish tone or hints at cuts later in the year, the relief rally could extend beyond equities ...