Key Takeaways
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Macro Environment: As the tariff deadline approaches, prospects for a US-EU trade agreement remain dim. Gold and US Treasury prices rose, while the Nasdaq and S&P 500 hit new all-time highs but gave up gains by the close, reflecting market caution ahead of key earnings reports from Google and Tesla.
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Crypto Market: Despite recent disclosures from Strategy and Trump Media & Technology Group about holding Bitcoin reserves, the market reaction was muted. Bitcoin opened high but ended the day nearly flat with a slight 0.1% gain. Ethereum’s momentum weakened, closing with a doji pattern and a marginal 0.14% increase. Notably, Bitcoin’s market dominance dropped below 60.5%, marking nine consecutive days of decline, while altcoins showed simultaneous increases in volume and price—signaling a shift in market risk appetite toward mid- and small-cap tokens.
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Today's Outlook: The White House Digital Asset Market Working Group is expected to release its first crypto policy report on July 22；Federal Reserve Chair Jerome Powell will deliver welcome remarks at a regulatory conference
Main Asset Changes
Crypto Fear & Greed Index: 72 (previous 24 hours: 71), level: Greed
Project Highlights
Trending Tokens: SOL, ENA, PENGU
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ENA: StablecoinX completed a $360 million funding round and launched the ENA treasury strategy, with plans to list a stablecoin under the ticker "USDE" on Nasdaq
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PENGU: After a week of consolidation, surged over 20%; boosted by several projects and exchanges adopting the fat penguin avatar and ETF speculation
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SKY: MKR has rebranded to SKY
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DOGE: US-listed company Bit Origin announced the purchase of 40.54 million DOGE at an average price of $0.2466
Macro Economy
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US Commerce Secretary: August 1 is the final deadline; Europe is "ready for battle"
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White House: The August 1 tariff deadline is merely a starting point
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US Representative Luna: Sent a letter to the DOJ accusing Powell of perjury on two occasions and filed criminal charges
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White House: Trump has no plans to fire Powell
Industry Highlights
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Thailand’s SEC plans to ease investor qualification requirements for crypto investments
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Strategy: Acquired 6,220 BTC last week at an average price of $118,940; will issue 5 million STRC shares to raise funds for further BTC purchases
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US SEC Chair: Declared ETH is not a security
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BitGo: Filed for IPO in the US
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PolyMarket: Acquired a crypto trading platform to restart US operations
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Dynamix: A blank-check company plans to merge and form EtherMachine, aiming to hold over $1.5 billion in ETH
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Trump Media & Technology Group: Announced total Bitcoin reserve holdings have reached $2 billion
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BTCS: US-listed firm acquired an additional 22,935 ETH and raised another $10 million to continue ETH accumulation
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Upexi (SOL treasury company): Purchased 100,000 SOL worth $17.7 million, bringing total holdings to 1.82 million SOL
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Mercurity Fintech: Secured $200 million strategic investment from Solana Ventures to initiate Solana treasury strategy
This Week’s Outlook
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July 22: White House Digital Asset Market Working Group expected to release its first crypto policy report; Powell to deliver welcome speech at regulatory conference
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July 23: Trump plans to issue an executive order promoting AI development, potentially declaring July 23 as “AI Action Day”; AVAIL token unlock (38.23% of circulating supply, ~$18.9M); SOON token unlock (22.41%, ~$6.1M)
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July 24: Google and Tesla earnings reports
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July 25: ALT token unlock (6.39% of supply, ~$8.9M)
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