Macroeconomic Background and Non-Farm Data Impact

1. Non-Farm Employment Data Review The latest non-farm employment report released this week shows that the U.S. labor market remains robust, with new jobs exceeding market expectations and the unemployment rate staying low. This data reinforces the likelihood that the Fed will continue to maintain high interest rates, and the market's risk-off sentiment has intensified in the short term.

2. Federal Reserve Policy Outlook The Fed's recent statements have remained cautious about the economic outlook, suggesting a flexible adjustment of monetary policy based on data. Strong non-farm data supports a hawkish stance, but inflationary pressures still carry uncertainties. Overall, the Fed is likely to maintain high interest rates in the short term, and the dollar index has recently rebounded.


Weekly Market Review

In the past week, the Bitcoin market performed strongly, opening at $100,963, reaching a high of $108,528, dipping to a low of $99,613, and finally closing at $108,356. The week recorded a significant increase of 6.82%, with a maximum fluctuation of 8.83%.

From the K-line pattern perspective, this week closed with a nearly full-bodied bullish candle, which completely engulfed last week's bearish candle and successfully regained the 5-week moving average, showing a significant strengthening in technical terms.


Today's Cryptocurrency News

● Data: Bitcoin rose 31.41% in the second quarter

According to Odaily Planet Daily, Cointelegraph stated that Bitcoin closed up 31.41% in the second quarter of 2025, after falling 11.82% in the first quarter.

● Trump will meet with his trade team this week to determine the national tariff rate

According to ChainCatcher, White House Press Secretary Levitt stated that Trump will meet with his trade team this week to determine the national tariff rate.

● Bloomberg Analyst: The probability of the SEC approving XRP and LTC spot ETFs this year is extremely high

According to BlockBeats, FOX Business reporter Eleanor Terrett stated that Bloomberg ETF analysts James Seyffart and Eric Balchunas believe that the SEC has a 95% probability of approving LTC and XRP spot ETFs this year.

Previously reported, REX-OSPREY CEO announced that the Solana spot ETF supporting staking will start trading on Wednesday.

● The Governor of Connecticut has signed a Bitcoin reserve ban

According to Wu Shuo, Connecticut Governor Ned Lamont has officially signed the state's 'Bitcoin Reserve Ban'. The state is now prohibited from accepting, holding, or investing in digital assets.

● SEC received an amendment to convert Grayscale Digital Large Cap Fund to ETF

According to PANews, the SEC confirmed receipt of the amendment to convert the Grayscale Digital Large Cap Fund to an ETF. This fund covers BTC, ETH, XRP, SOL, and ADA.

● Russell Top 200 Value Index adds new strategy

According to Foresight News, the Russell Top 200 Value Index has added a new strategy.

● Metaplanet's BTC yield reached 129.4% in the second quarter

According to Odaily Planet Daily, Metaplanet CEO Simon Gerovich stated that Metaplanet's BTC yield continues to accelerate. The BTC yield for the second quarter reached 129.4%, surpassing the first quarter's 95.6%. He anticipates bringing more results to shareholders in the third quarter.

● Analysis: The non-farm payrolls in the U.S. for June are expected to increase by 129,000, with the unemployment rate remaining at 4.2%

According to Jin10 data, Newsquawk expects the U.S. non-farm employment in June to increase by 129,000, with the unemployment rate expected to remain at 4.2%. Average hourly earnings are expected to decrease from 0.4% to 0.3%, while average weekly hours are expected to remain at 34.3 hours.

Powell stated that the labor market is stable but showing signs of gradual cooling, with strong employment and labor participation rates being signs of economic recovery. Trump may use employment data as a reason for the Fed to cut interest rates, regardless of how the data performs.