Key Takeaways
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Macro Environment: The Federal Reserve's meeting minutes indicate a cautious dovish tone, with the probability of a rate cut in July largely unchanged. On trade policy, Trump’s second wave of tariff letters targets eight countries, with tariffs as high as 50% on Brazil. Despite the trade concerns, markets ignored the anxiety, and all three major U.S. stock indices closed higher. Tech stocks were strong, with Nvidia's market capitalization briefly surpassing $4 trillion.
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Crypto Market: Risk-on sentiment in the U.S. stock market boosted Bitcoin to surpass $112,000, setting a new all-time high. ETH continued its strong trend, rising 5.86%, and the ETH/BTC exchange rate rose to around 0.025. Bitcoin's market dominance fell below 65%, marking a fifth consecutive day of decline, while altcoins generally strengthened, showing a broad upward trend in exchange rates.
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Today's Outlook: July 10: Moo Deng, the hippo at a Thai zoo, celebrates its one-year anniversary.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,263.25 | +0.61% |
| NASDAQ | 20,611.34 | +0.94% |
| BTC | 111,123.80 | +2.12% |
| ETH | 2,768.36 | +5.86% |
Crypto Fear & Greed Index: 71 (up from 66, 24 hours ago), currently in the Greed zone.
Project Highlights
Trending Tokens: BTC, ETH, USELESS
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PUMP: The PUMP token is set for launch via an Initial Token Offering (ITO) on July 12. It will be transferable 48–72 hours after the public sale ends.
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USELESS: Pump.fun is about to issue tokens, with a $4 billion FDV, making the market cautiously optimistic. This has impacted competing platform Bonkfun, with the top meme coin USELESS surging more than 30%.
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GMX: GMX was hacked, with losses estimated at $40 million. As a result, GMX plummeted by 15.7%.
Macro Economy
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Federal Reserve Minutes: Most officials believe tariffs may continue to drive inflation, with a few open to considering rate cuts at the next meeting.
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Trump issued trade letters to countries including Brazil, the Philippines, Brunei, and Algeria, with tariffs on Brazil reaching up to 50%.
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Trump announced a 50% tariff on copper starting August 1, 2025.
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UK Media: The EU is reportedly close to reaching an agreement with Trump, though it could face higher tariffs than the UK.
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Nvidia's market capitalization briefly surpassed $4 trillion.
Industry Highlights
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The U.S. House of Representatives plans to vote on the GENIUS Stablecoin Act proposed by the Senate next week, abandoning its own version.
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The U.S. SEC issued a statement on tokenized securities, noting that blockchain technology opens up new models for issuing and trading securities in tokenized forms. Tokenization could facilitate capital formation and improve the ability of investors to use their assets as collateral. However, market participants must carefully consider and comply with federal securities laws when trading such instruments.
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Bitcoin sets a new all-time high, nearing $112,000 per coin.
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GameSquare, a U.S.-based company, announces plans to gradually build an Ethereum treasury, totaling up to $100 million.
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Remixpoint raises 31.5 billion yen (approx. $215 million) to increase its Bitcoin holdings.
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The U.S. SEC has delayed approval of BlackRock's physical Ethereum ETF redemption method.xStocks to integrate the upcoming Jupiter Lend
This Week’s Outlook
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July 11: IMX unlock – 1.31% of supply ($10.1M); IO unlock – 7.87% ($9.1M); MOVE unlock – 1.92% (~$7.7M)
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
