Key Takeaways
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Macro Environment: Risks to the Federal Reserve's independence are rising as Powell faces renewed pressure to cut rates, with a false resignation rumor stirring markets. On trade, the U.S. has reached agreements with Japan and the Philippines; Thailand reports being close to a deal; and the EU is set to negotiate tomorrow. In markets, U.S. stocks were mixed. Tech stocks dragged down the Nasdaq, ending its seven-day winning streak. Capital flowed into bonds, gold, and meme stocks.
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Crypto Market: After the short-lived market disturbance caused by Powell’s fake resignation letter, BTC rebounded to $120,000, up 2.19% in a day. Ethereum staking nodes face a queue for exits, weakening ETH’s momentum, leading to a 0.42% daily loss and breaking a nine-day winning streak. Bitcoin’s dominance rebounded, with altcoins slightly correcting in tandem with ETH.
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Today's Outlook: Trump plans to issue an executive order to promote AI development and is considering declaring July 23 as "AI Action Day"；Earnings reports: Google, Tesla；Token Unlocks: AVAIL: 38.23% of circulating supply unlocked, worth ~$18.9 million，SOON: 22.41% of circulating supply unlocked, worth ~$6.1 million
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,309.63 | +0.06% |
| NASDAQ | 20,892.69 | -0.39% |
| BTC | 119,953.40 | +2.19% |
| ETH | 3,746.31 | -0.42% |
Crypto Fear & Greed Index: 74 (up from 72 in past 24 hours) – Level: Greed
Project Highlights
Trending Tokens: PENGU, ZORA, ONDO
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PENGU: Binance previously removed the Seed tag from PENGU, lowering its risk profile. PENGU has risen for two consecutive days.
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ZORA: Base App integrated its content tokenization tech, enabling posts to be turned into tradable assets via Zora. ZORA surged nearly 50% in a day and is up 250% over the past 7 days.
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TON: Telegram's crypto wallet is now open to 87 million U.S. users.
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ONDO: 21Shares submitted an S-1 filing for an ONDO ETF.
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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U.S. Congress released a draft discussion bill on crypto market structure
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U.S. SEC approved Bitwise’s conversion of its Top 10 Crypto Index Fund into an ETF, covering BTC, ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, and DOT. However, post-approval, SEC paused further reviews, possibly awaiting a unified framework for crypto ETF listings
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Around 519,000 ETH are queued to exit Ethereum’s PoS network – the longest exit wait time in nearly 18 months
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Mexican real estate firm Grupo Murano invests $1 billion in Bitcoin, aiming to build a $10 billion BTC treasury within 5 years
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SpaceX moved $152 million worth of BTC – its first such transfer in 3 years
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SharpLink purchased 79,949 ETH between July 14–20 at an average price of $3,238, totaling
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treasury strategy
This Week’s Outlook
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July 25: ALT token unlock (6.39% of supply, ~$8.9M)
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.
