Key Takeaways
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Macro Environment: The market faces a crucial test this week with a dense schedule of tech earnings reports, the Federal Reserve's rate decision and Powell's press conference, along with the release of key economic data including core PCE inflation and non-farm payrolls. These pivotal events are expected to shape the market's direction in the coming days. Despite the US-EU trade agreement pushing the S&P 500 and Nasdaq to new record highs, gains remain limited. The S&P 500 barely managed a six-day winning streak, reflecting investors’ caution ahead of major announcements.
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Crypto Market: Bitcoin pulled back during the Asian session and stabilized during US trading hours, ending the day down 1.14%, continuing its consolidation pattern. ETH retreated after breaking above $3,900, in sync with the broader market. The ETH/BTC pair fell back to 0.032, indicating increased tug-of-war between bulls and bears in the $3,800–$4,000 range. Bitcoin dominance rebounded by 0.36%, while most altcoins experienced a general correction.
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Outlook for Today: China and the US to hold economic and trade talks in Sweden (July 27–30)；Federal Reserve rate decision and Powell’s press conference；Sui ecosystem’s multiparty computation network Ika to launch on mainnet
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,389.76 | +0.02% |
| NASDAQ | 21,178.58 | +0.33% |
| BTC | 118,055.10 | -1.14% |
| ETH | 3,797.94 | -1.92% |
Crypto Fear & Greed Index: 73 (previously 75, classified as Greed)
Project Highlights
Trending Tokens: HYPE, OP, BNB
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BNB (-1.92%): US healthcare company Liminatus Pharma plans to raise and deploy $500 million into BNB. BNB pulled back after hitting an all-time high.
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SUI (-8.38%): Mill City Ventures III, Ltd. announced a $450 million private placement, launching Sui's financial strategy.
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SOL (-2.85%): Upexi plans to sign a $500 million equity facility to increase its SOL holdings.
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OP (+1.69%): Listed on Upbit; rose 1.69% in 24 hours.
Macro Economy
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Trump: "I believe the Fed must cut rates this week."
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Trump: "Global tariffs will range between 15% to 20%."
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U.S. Commerce Secretary: Trump will announce tariff decisions on other countries this week.
Industry Highlights
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South Korea's Democratic Party submitted the first stablecoin-specific bill.
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Trump’s CFTC chair nominee faces setbacks; the White House postponed the Quintenz vote twice.
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Strategy did not increase BTC holdings last week.
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PayPal now allows over 100 cryptocurrencies for merchant payments in the U.S.
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Southeast Asian ride-hailing giant Grab now accepts BTC and other crypto payments in the Philippines.
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MARA Holdings raised $950 million via convertible bonds to accumulate more BTC.
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Interactive Brokers plans to issue a stablecoin.
This Week’s Outlook
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July 30:
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U.S. July ADP data
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U.S. Q2 GDP data series
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White House to release its first crypto policy report
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10th anniversary of Ethereum's genesis block
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KMNO token unlock: 9.53% of circulating supply, ~$13.8 million
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China-U.S. economic and trade talks in Sweden (July 27–30)
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July 31:
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U.S. June core PCE data
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Bank of Japan interest rate decision
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Strategy to release Q2 financial results
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OP token unlock: 1.79%, ~$22.8 million
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Microsoft and Meta to report earnings
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August 1:
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U.S. July non-farm payrolls
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Trump’s "reciprocal tariff" delay period ends, with no plans to extend
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Hong Kong to implement the Stablecoin Regulation Ordinance, making the promotion of unlicensed stablecoins illegal
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SUI token unlock: 1.27%, ~$188 million
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GPS token unlock: 20.42%, ~$11.6 million
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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.
