Key Takeaways
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Macro Environment: U.S. equities closed mixed on July 30. The Nasdaq barely ended in positive territory as markets weighed strong economic data, hawkish Fed signals, tech earnings, and trade developments. On the data front, ADP employment and GDP growth beat expectations, showing economic and labor market resilience, which weakened market expectations for rate cuts. In terms of monetary policy, the Fed held rates steady as expected, but Powell struck a hawkish tone at the press conference, giving no indication of an imminent cut and emphasizing inflation risks, which pushed the dollar and Treasury yields sharply higher. On trade, the impact was mixed: the U.S. increased tariffs on India and enforced a 50% tariff on Brazil while reaching a trade agreement with South Korea. Strong earnings from Meta and Microsoft helped maintain confidence in tech stocks.
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Crypto Market: Amid heavy macro events, Bitcoin mirrored U.S. equities with wide intraday swings. Powell’s hawkish tone briefly dragged BTC below 116k before rebounding alongside equities, ending the day slightly down by 0.08%. ETH showed relative strength, with ETH/BTC gaining for the second day. However, Bitcoin dominance rose for the third straight day as altcoins broadly retreated.
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Outlook for Today:
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U.S. Core PCE data for June
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Bank of Japan interest rate decision
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Strategy to release Q2 earnings
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OP token unlock (1.79% of supply, ~$22.8M)
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Amazon and Apple earnings
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Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,362.89 | -0.13% |
| NASDAQ | 21,129.67 | +0.15% |
| BTC | 117,839.20 | -0.08% |
| ETH | 3,810.72 | +0.43% |
Crypto Fear & Greed Index: 72 (down from 74 24h ago), indicating “Greed”
Project Highlights
Trending Tokens: ENA, CFX
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CFX (+9.1%): Conflux announced a partnership with AnchorX and Eastcompeace Technology to pilot the AxCNH offshore RMB stablecoin in Singapore and Malaysia starting August 1.
Macro Economy
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Fed kept rates unchanged, in line with expectations
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FOMC Statement: Inflation remains slightly elevated; employment is solid; economic growth slowed in H1; outlook remains highly uncertain; no signal of imminent rate cuts
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Powell: 30–40% of core inflation comes from tariffs; no decision yet for September meeting; policy decisions not influenced by government debt costs
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Trump: Reached a trade deal with South Korea (15% tariffs + $350B investment); imposed 25% tariffs and penalties on India; 50% tariffs on Brazil effective in 7 days
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ADP Employment: U.S. added 104,000 jobs in July, above expectations
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Q2 GDP: U.S. economy grew at an annualized rate of 3.0%, beating forecasts
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U.S. Treasury Secretary: Trade negotiations may continue beyond August 1 if no agreement is reached
Industry Highlights
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Osaka Exchange in Japan plans to list crypto derivatives
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Indonesia raises taxes on crypto exchanges and miners
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The White House Digital Assets Working Group published a report titled “Strengthening U.S. Leadership in Digital FinTech”, advocating for a regulatory framework for digital assets (excluding Bitcoin reserve strategies)
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Coinbase: crypto assets listed on its futures exchange for 6 months will automatically qualify for ETP listing, expected to roll out between September–October
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Linea released tokenomics: ~72B total supply, with 9% airdropped to early users
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BTCS plans to raise $2B to continue accumulating ETH
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Telegram founder under renewed investigation by French authorities over illegal content on the platform
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Fundamental to raise $200M in a private round to launch an Ethereum treasury strategy
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JPMorgan formed a strategic partnership with Coinbase
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Canaan designated Bitcoin as its primary long-term reserve asset
This Week’s Outlook
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July 31: U.S. June Core PCE; Bank of Japan rate decision; Strategy Q2 earnings; OP unlock (1.79%, ~$22.8M); Amazon and Apple earnings
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August 1: U.S. July Nonfarm Payrolls; Trump’s delayed “reciprocal tariffs” set to expire unless further extended; Hong Kong to enforce the Stablecoin Bill — promoting unlicensed stablecoins will be deemed illegal;
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SUI unlock (1.27%, ~$188M)
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GPS unlock (20.42%, ~$11.6M)
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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.
