According to a report by Grayscale, the crypto market in July reflected the broader economic sentiment surrounding the possibility of a soft landing for the US economy. The report states that recent data suggests low inflation and consistent growth, reducing the risk of a recession. However, the possibility of a soft landing is not guaranteed, and the crypto recovery may pause if the economy stumbles or the Federal Reserve raises real rates further. The report also notes that while Bitcoin remained relatively stable, other risky assets such as US regional bank equities and crude oil performed well, while Ethereum showed more volatility. The US District Court ruling on SEC v. Ripple Labs was a significant event in July, impacting several other tokens and reflecting broader market dynamics.