Palladium prices fell on Monday on profit-taking after marking huge profits in recent days.

The dollar index hit early 2022 lows amid increasing concerns about the Federal Reserve’s independence, hurting confidence in the US monetary system. 

A weaker dollar makes the greenback-denominated metals futures cheaper to holders of other currencies.

Investors interpreted Fed Chair Jerome Powell’s last week Congressional testimony as leaning cautious, after saying that rate cuts are likely if inflation doesn’t rise this summer in response to tariffs.

According to the Fedwatch tool, the odds of a Fed 0.25% interest rate cut in July stood at 20%.

The odds of such a cut in September stood at a much better 93%.

Currently, markets await a spate of important US data this week, including the crucial payrolls report on Friday, which would impact market’s expectations for upcoming Fed moves. 

The dollar was pressured once more by renewed attacks by President Donald Trump against Powell, urging him to resign before the end of his term in May.

Trump also said he wants main interest rates down to 1% from the current 4.25-4.5%, adding he plans to replace Powell with someone much more interested in monetary easing.

Investors are also analyzing Trump’s new massive tax cut and spending bill, currently in the Senate, which is estimated to add $3.3 trillion to government debt in 10 years.

The dollar index fell 0.2% as of 15:57 GMT to 97.1, with a session-high at 97.3, and a low at 96.9.

Palladium futures fell 2.9% as of 15:58 GMT to $1118 an ounce.

MicroStrategy continues to grab headlines with its incredulous bitcoin purchases even as the cryptocurrency hits record highs. 

Through the X platform, MicroStrategy’s CEO Micheal Saylor announced a new purchase of 4980 bitcoins, raising the company’s totaling holdings to a new record high of 597,325 bitcoins, averaging $79,977 per unit, with a total value of $42.4 billion.

The purchase occurred between June 23 and 29, with the company spending $532 million in total, spending on average $106,801 per unit.

MicroStrategy has taken a strategy of heavy bitcoin investments since 2020 as a way to guard against inflation.

Saylor has seen a 64% return on his bitcoin investment in 2024, with this bold strategy raising eyebrows and drawing the admiration of many crypto investors. 

MetaPlanet

Japan’s MetaPlanet also expanded its bitcoin holdings by adding 1005 units worth $108.15 million, averaging $107,601 per unit. 

The company now owns 13,350 bitcoins in total, averaging $97,831 per unit, with a total value of $1.31 billion.

Bitcoin is currently trading near $108,000 on Monday after a 7% surge last week, about to end the second quarter with an excellent 30% profit, boosted by strong institutional demand with ETFs in the US marking net influx of $2.22 billion last week, the highest since May.

As of 13:20 GMT, bitcoin fell 0.4% on Coinmarketcap to $107.8 thousand.

Best Quarter Since 2020

Bitcoin is up 31.08% in the second quarter of 2025, on track for the best quarterly performance since 2020 amid strong institutional demand. 

Analysts are predicting another run against the coveted record high of $112,000, especially as billions of dollars continue to flow into instant ETFs in America.

Persistent Sideways 

Since bitcoin breaches $100,000 for the second time this year in May, prices wavered between $102,000 and $110,000.

The price mostly settled above $107,000 in June, marking a monthly profit of $3.56%.

According to historical data, bitcoin is usually leaning towards positive results in July, with average profits of 7.56%, which could be the case this year as well as geopolitical risks softened. 

Some analysts now believe the price could very well surge towards fresh record highs at $120,000.

The RSI index is showing positive momentum above the neutral level of 50, while the MACD index is similarly sending out positive signals, underpinning the upward trend.

Oil prices stabilized on Monday as Middle East tensions receded, and with the outlook of increasing OPEC+ production in August and concerns about global demand.

Brent futures settled at $67.76 a barrel for August futures, while September futures rose 17 cents to $66.97 a barrel.

US West Texas Intermediate rose 9 cents, or 0.1% to $65.61 a barrel.

Negative Week, Positive Months

Both Brent and US crude marked their biggest weekly decline since March 2023 last month, but are heading for the second monthly profit in a row at over 5%.

Prices were highly volatile in June, surging to over $80 a barrel during the 12-day Israel-Iran war, before tumbling to nearly $67 a barrel after the ceasefire.

There are now renewed concerns about OPEC+ plans to raise output by nearly 411 thousand bpd in August, following similar hikes in May, June, and July. 

OPEC+ is scheduled to hold its next meeting on July 6.

A Reuters survey showed OPEC production rose in May but the gains were limited as some countries reduced production to compensate for previous hikes beyond their quotas.

Analysts warn that the markets will remain under pressure due to concerns about weaker demand, especially in China, the world’s largest crude importer.