Key Takeaways
-
Macro Environment: The June PPI hit a one-year low, slightly increasing expectations of a rate cut. Rumors of Fed Chair Powell’s dismissal triggered temporary market turmoil; safe-haven assets like gold and U.S. bonds rose in response. However, Trump later denied the dismissal rumors, leading to a rebound in risk assets. All three major U.S. stock indices closed higher, with the Nasdaq reaching a new record high.
-
Crypto Market: Under pressure from Trump, a series of "Crypto Week" bills passed a procedural vote and entered the stage of substantive debate and voting. However, the second round of voting saw confusion, with the ban on CBDCs becoming a key point of contention. On market performance, BTC rebounded alongside U.S. equities, overcoming selling pressure from ancient whales and closing up 0.74%. ETH maintained its strong momentum, breaking above $3,400 and ETH/BTC surpassed 0.028. Bitcoin dominance dropped below 63%, signaling further recovery in altcoin sentiment.
-
Today's Outlook: Vote on the "Crypto Week" legislation；UXLINK: Unlocks 9.17% of circulating supply, worth ~$14.2 million；OLV: Unlocks 17.03% of circulating supply, worth ~$11.3 million
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,263.71 | +0.32% |
| NASDAQ | 20,730.49 | +0.25% |
| BTC | 118,641.90 | +0.74% |
| ETH | 3,371.39 | +7.44% |
Crypto Fear & Greed Index: 74 (up from 70 a day earlier), level: Greed
Project Highlights
Trending Tokens: ETH, BONK, FLOKI
-
ETH: Continued its strong performance, peaking above $3,400; ETH/BTC surpassed 0.028
-
Meme Sector: Broad rally led by MEW, BONK, FLOKI, CAT, BOME, and FARTCOIN
-
TRUMP: Trump-themed meme coin TRUMP is reportedly preparing to launch a gaming project
Macro Economy
-
A U.S. lawmaker revealed Fed Chair Jerome Powell is about to be dismissed, confirmed by White House officials. Some insiders claimed Trump has already drafted a dismissal letter. Trump denied both the intent and the drafting of such a letter, unless Powell is found guilty of fraud in Fed renovations.
-
U.S. June PPI rose 2.3% year-over-year, below prior value and expectations
-
Fed Beige Book: Economic outlook ranges from neutral to slightly pessimistic
-
Fed’s Bostic: Full inflationary impact of tariffs may not be seen until 2026
-
Trump: Will introduce a single tariff rate for 150 countries
Industry Highlights
-
The U.S. House of Representatives passed a procedural vote on crypto legislation; a final vote is expected this week. The second round stalled, with some Republicans insisting on including a CBDC ban.
-
The SEC delayed decisions on physical redemptions for Bitwise’s Bitcoin and Ethereum ETFs
-
Proposal to allow trading of WLFI Token, linked to the Trump family crypto project, has passed
-
SharpLink Gaming accumulated another 6,377 ETH today (~$19.56M); it still holds ~$257M available for Ethereum purchases
-
Paypal plans to expand its PYUSD stablecoin to the Arbitrum chain
-
Bank of America plans to launch a stablecoin, pending legal clarity
-
Citigroup is exploring the issuance of a stablecoin for cross-border payments
-
CME is considering 24/7 crypto trading, explicitly excluding meme coin products
This Week’s Outlook
-
July 17: Vote on "Crypto Week" legislation; UXLINK unlock (9.17%, ~$14.2M); SOLV unlock (17.03%, ~$11.3M)
-
July 18: TRUMP token unlock (45%, ~$878M); MELINIA token unlock (4.07%, ~$5.2M)
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.
