As the United States economic calendar gears up for another eventful week, all eyes are on pivotal events such as the Federal Reserve meeting minutes and Nvidia's earnings report. Coupled with global economic reports and consumer sentiment indexes, this week promises significant market movements that could potentially impact both traditional and crypto markets.

Economic Highlights: Federal Reserve Minutes and Nvidia's Report

The highlight of the economic week ahead is the release of the Federal Reserve meeting minutes on Wednesday. These minutes are eagerly anticipated as they provide insight into future monetary policy decisions, including the possibility of rate cuts.

Additionally, Thursday brings May's Global Manufacturing PMI preliminary report, offering a snapshot of business conditions in the manufacturing sector. The following day, May 23, sees a similar PMI report for the services sector, a crucial indicator given its substantial contribution to the US GDP.

Friday concludes the economic week with the release of May's Michigan Consumer Sentiment Index, which measures inflation expectations. This index provides valuable insights into consumer confidence levels and their impact on the economy.

Wednesday also marks the highly anticipated quarterly revenue report from semiconductor giant Nvidia. Investors are keenly watching this report, as it could influence the performance of tech stocks and potentially impact the crypto market.

Market Expectations and Crypto Impact

Last week's rally in the US stock market, fueled by favorable figures in the CPI report, sparked speculation of a cooling economy and potential rate cuts by the Federal Reserve. This sentiment may be further clarified by the minutes of the Federal Reserve meeting.

While traditional markets react to economic data, the crypto market is also influenced by these events. However, with no major economic events scheduled this week, crypto markets may experience relatively low volatility. Nevertheless, recent market trends have shown resilience, with total capitalization surpassing $2.5 trillion and Bitcoin holding above $66,000.

Despite a slight dip in crypto prices over the past 24 hours, Bitcoin remains stable around $67,000, while Ethereum has retraced to $3,078 after reaching a weekend high. Altcoins have predominantly followed this trend, signaling cautious trading sentiments in the crypto market.

As markets await key economic data and earnings reports, both traditional and crypto investors are preparing for potential market movements that could shape investment strategies in the days ahead.