According to BlockBeats, due to weak employment reports, market expectations for a Fed rate cut have risen. Trump's new tariffs will take effect on August 7, with tariffs of at least 10% on all countries, 39% on Switzerland, and 25% on India. Some countries may negotiate for lower tax rates.
On Monday, US June factory orders month-on-month. On Tuesday, US July S&P Global Services PMI final value; US July ISM Non-Manufacturing PMI.
On Thursday, US initial jobless claims for the week ending August 2; US July New York Fed 1-year inflation expectations.
● US CFTC acting chair announces the launch of the 'Crypto Sprint' program
According to Foresight News, Caroline Pham, acting chair of the US Commodity Futures Trading Commission (CFTC), announced the launch of the 'Crypto Sprint' program. This program will closely collaborate with SEC Commissioner Paul Atkins and Hester Peirce to advance the SEC's Project Crypto, fulfilling President Trump's promise of a 'golden age of cryptocurrency.'
● Bitcoin mining difficulty hits all-time high, expected to decrease on August 9
According to Cointelegraph, Bitcoin mining difficulty reached a historic high of 1.276 trillion this week, expected to drop by about 3% to 1.237 trillion during the difficulty adjustment on August 9. The current average block time is about 10 minutes and 20 seconds.
CryptoQuant data shows that mining difficulty decreased in June, dropping to 1.169 trillion in the first half of July, but then resumed its long-term upward trend. Mining difficulty and network hash rate are crucial for miner profitability and Bitcoin's high stock-to-flow ratio.
The stock-to-flow ratio measures the total supply of a financial asset or commodity against its new supply. Bitcoin's stock-to-flow ratio is higher than gold, with about 94% of BTC already mined. Difficulty adjustments make Bitcoin prices insensitive to production, preventing oversupply from causing price crashes.
● Analyst: ETH daily active addresses surge to 841,100, reaching a one-year high
According to Deep Tide TechFlow, on-chain analyst Ali's monitoring shows that the number of daily active addresses for Ethereum (ETH) has increased to 841,100, reaching its highest level in a year. This surge occurred before ETH's price fell below $3,500.
● DeFi education fund calls on US Senate to establish a dedicated regulatory framework for DeFi
According to Wu Shuo, the DeFi Education Fund (DEF) submitted a statement in collaboration with a16z Crypto, Uniswap Labs, Solana Policy Institute, calling on the US Senate to establish a dedicated regulatory framework for DeFi in the (2025 Responsible Financial Innovation Act).
DEF emphasizes the need to distinguish between DeFi developers and centralized intermediaries, implement technology-neutral regulation, and suggests that federal legislation should take precedence over state laws to prevent traditional finance from using regulations to suppress competition.
● Arthur Hayes: Bitcoin will test $100,000, Ethereum will test $3,000
According to Foresight News, Arthur Hayes stated that the market believes the US tariff bill will expire in the third quarter after the non-farm payroll data was released. He noted that no major economy can quickly create credit to boost nominal GDP. Therefore, Bitcoin will test $100,000, and Ethereum will test $3,000.
● Analyst says Bitcoin breaking below channel pattern may face bearish retest
According to Deep Tide TechFlow, on August 2, cryptocurrency analyst Muro stated on social media X that Bitcoin (BTC) has broken below the channel pattern and may be undergoing a bearish retest. Muro pointed out that BTC needs to return above the channel pattern to restore bullish expectations, otherwise a chain decline may occur. He reminded investors to cautiously manage risks.
