The crypto market sentiment has taken a significant turn, fueled by the unexpected upswing in global inflation momentum and a slowing U.S. economy. Last week's economic data revealed a decline in U.S. consumption, a downward revision in GDP, and an unexpected surge in global inflation, which has led to an increasingly evident slowdown in the U.S. economic landscape.

The forecast for GDP by the Atlanta Fed has fallen below 2% with the growth of real disposable income easing below 1%. Anticipations of ideal economic deceleration spurred by the ongoing decline in PCE, a drop in oil futures by 10%, and optimism are triggering macro asset rallies over the past few sessions. The political front has also seen a significant shift, with former President Trump's odds of winning the election rocketing over 50%.

As a result, market sentiment has been upbeat as of last Friday, marked by Bitcoin taking aim at the $70,000 mark and Ethereum lingering around $3,800. The overall recovery in risk sentiment has led to a comeback in the U.S. stock market, with the S&P 500 and Nasdaq Composite indices both experiencing significant gains.

This week is slated to witness the release of critical data, including JOLTS today, the ADP and ISM service sector indices on Wednesday, and non-farm payrolls on Friday. The market is eagerly awaiting these releases, as they will provide valuable insights into the state of the U.S. economy and the potential impact on the crypto market.

In conclusion, the crypto market sentiment has been boosted by the unexpected upswing in global inflation momentum and a slowing U.S. economy. The market is eagerly awaiting the release of critical data this week, which will provide valuable insights into the state of the U.S. economy and the potential impact on the crypto market.