Key Takeaways
-
Macro Environment: Former President Trump issued the third round of tariff letters, announcing a 30% tariff on goods from Mexico and the EU. At the same time, the "Renovation Gate" scandal at the Federal Reserve has reignited concerns over its independence. Uncertainty surrounding tariffs and the Fed's independence has halted the rally in U.S. equities, with all three major indices closing lower on Friday.
-
Crypto Market: After hitting a new all-time high on Friday, BTC slightly pulled back in sync with the stock market, then broke above the $109K mark on Sunday to reach another record high. ETH/BTC dropped for three consecutive days after hitting recent resistance at 0.026. Bitcoin's market dominance remained high at 64.5% over the weekend. Altcoins saw mixed performance, with tokens themed around "compliance" showing strength.
-
Today's Outlook: July 10: U.S. House Financial Services Committee: The week of July 14 is designated as "Crypto Week." Key bills on the docket include the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. Trump to issue a major statement regarding Russia.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,259.74 | -0.33% |
| NASDAQ | 20,585.53 | -0.22% |
| BTC | 119,073.70 | +1.41% |
| ETH | 2,972.04 | +0.98% |
Crypto Fear & Greed Index: 74 (unchanged from 24 hours ago), indicating "Greed."
Project Highlights
Trending Tokens: XLM, PENGU, HBAR
-
Compliance-themed tokens such as HBAR, ALGO, SAND, and XLM saw broad gains, possibly as an early response to the upcoming CLARITY Act, which aims to define standards for determining whether digital assets are securities.
-
PENGU: Multiple crypto projects and exchanges changed their X (Twitter) profile pictures to "Fat Penguin" themed images. PENGU surged 25%.
-
HYPE: Nuvve Holding Corp. (NVVE), a publicly listed U.S. smart grid technology firm, announced on the 13th that it would add HYPE to its corporate treasury strategy. The HYPE token price broke $49, hitting a new all-time high.
Macro Economy
-
Fed Chair Jerome Powell is reportedly considering resignation.
-
President Trump stated he will not fire Powell but added that it would be "a good thing" if Powell steps down.
-
Fed’s perceived independence is once again under threat, with expectations that there will be no rate cut this month.
-
Fed Governor Austan Goolsbee warned that new tariff threats may delay rate cuts.
-
Trump announced 30% tariffs on goods from Mexico and the EU.
-
The European Commission has extended the suspension of retaliatory tariffs on the U.S. until early August.
-
White House advisor: Unless a deal is improved, Trump’s new tariffs will be implemented.
Industry Highlights
-
Hafu Securities has been approved by the Hong Kong SFC to offer virtual asset trading services.
-
Bloomberg: Binance allegedly helped WLFI write USD1 code. CZ retweeted speculation that Coinbase might be the anonymous source behind attacks on WLFI and Binance.
-
Michael Saylor issued a Bitcoin signal; MicroStrategy may announce another BTC purchase.
-
SharpLink Gaming bought 16,373 ETH (~$48.85 million) through Galaxy.
-
189 addresses each invested up to $1 million in the PUMP public sale.
This Week’s Outlook
-
U.S. House Financial Services Committee: Week of July 14 is "Crypto Week" – reviewing the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act.
-
July 14: Trump to release a major statement on Russia.
-
July 15:
-
July 16:
-
U.S. June PPI report
-
U.S. Beige Book
-
House Ways and Means Committee to discuss digital asset taxation
-
ARB token unlock: 1.87%, ~$38.2 million
-
-
July 17:
-
UXLINK token unlock: 9.17%, ~$14.2 million
-
SOLV token unlock: 17.03%, ~$11.3 million
-
-
July 18:
-
TRUMP token unlock: 45%, ~$878 million
-
MELINIA token unlock: 4.07%, ~$5.2 million
-
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.
