Crypto Assets Market Dynamics and Economic Data Overview

Market Observation

U.S. President Trump recently signed an executive order adjusting tariff rates on goods from multiple countries, covering a wide range. This move aims to protect American manufacturing and address trade inequality issues. Meanwhile, the core PCE price index in June rose 2.8% year-on-year, reaching a five-month high, indicating that inflationary pressures still exist. However, consumer spending growth has slowed, real disposable income remains flat, and the household savings rate stays at a cautious level of 4.5%.

Despite the Federal Reserve keeping interest rates unchanged this week, it is rare to see two board members supporting a rate cut. The Federal Reserve Chair emphasized that the current labor market conditions are a key consideration for monetary policy. The market is closely watching the upcoming non-farm payroll data, which may have a significant impact on the future direction of monetary policy. Currently, the probability of a rate cut in September is about 50%.

The upcoming stablecoin regulatory regulations in Hong Kong have attracted widespread attention. Industry experts believe that this marks the formal entry of stablecoin technology into the regulatory framework, which is expected to promote the transition of related technologies from the conceptual stage to large-scale commercial applications. Industry participants are actively positioning themselves to enhance their comprehensive service capabilities and promote the deep integration of stablecoins with the real economy.

The price of Bitcoin fluctuates around $115,000. Analysts point out that $114,000 is a key support level, and if it is lost, it may trigger further declines. Meanwhile, $115,883 is seen as an important liquidation level. If it can break through the resistance at $118,000, it may open the possibility of hitting a new historical high. On the fundamentals, the number of enterprise-level buyers has significantly increased recently, with a buy-sell ratio reaching 100:1, coupled with the recovery of net inflows into spot ETF funds and favorable policy news, which together have boosted market sentiment.

Ethereum's price fluctuates around $3600. Despite facing resistance at the $4000 mark, its rebound speed exceeds that of Bitcoin. Retail investors are actively buying near $3600, which is seen as a potential buy signal. However, there remains a cautious sentiment in the market, primarily due to the decline in Ethereum's ecosystem indicators relative to its competitors. Some analysts are adopting hedging strategies, going long on Ethereum while shorting other Crypto Assets.

In terms of regulation, the U.S. Securities and Exchange Commission has announced a comprehensive Crypto Assets initiative aimed at making the United States a global center for crypto assets by revising securities rules. The plan encompasses multiple aspects, including the establishment of token classification standards, updating custody rules, and streamlining trading licenses.

In the traditional finance sector, the founder of Bridgewater Associates has officially stepped down from the board, marking the end of an era. At the same time, the fund has introduced new major shareholders. Additionally, the design company Figma has successfully gone public, with its stock price significantly increasing, and it is reported that the company holds a large amount of Crypto Assets.

Key Data

• Bitcoin Price: 115,619 USD, Year-to-Date Increase 23.51%
• Ethereum price: 3,682.83 USD, Year-to-date increase of 11.05%
• Market Sentiment Index: 65 (Greed)
• Bitcoin market share: 61.1%
• Ethereum market share: 11.8%
• Total liquidations in the last 24 hours: $630 million

ETF Capital Flow

• Bitcoin ETF: Net outflow of $115 million
• Ethereum ETF: Net inflow of $16.9996 million, continuous net inflow for 20 days

Market Outlook

• Hong Kong starts implementing stablecoin regulatory regulations
• The United States will release the employment data for July, with the market expecting an unemployment rate of 4.20%.
• Multiple Crypto Assets projects will undergo token unlocking.
• The market is paying attention to the implementation of US tariff policies and their impact.

Hot News

• Multiple technology and finance companies have released their financial reports, with varying performance.
• Crypto Assets holdings surpass the milestone of 100 billion USD
• Emerging Crypto Assets projects launch staking pools and stablecoin applications
• Public companies increasing their holdings in Crypto Assets, indicating growing interest from institutional investors.