On July 1, Bitcoin once dropped from a high of $107,000 to below $105,000 😱, triggering a liquidation wave of over $252 million across the network.#特朗普马斯克分歧
But don't panic, on July 2 the market started to recover, with BTC slightly bouncing back above $107K.#MEME币狂欢

🔍 The market shows mixed performance, with only a few coins 'struggling to rebound'.

  • BTC: Up 1.23%, returning to over $107K.

  • SOL: Slight increase, but treading water around $150 🥴.

  • ETH: Continuing to dip, still below $2500.

  • SUI & TRX: Small bullish candles, rising 1.5% and 0.8% respectively.

Overall, this market wave is mixed, considered as 'partial recovery + overall oscillation'.

💬 Who is stirring the market? Powell spoke again...

The trigger for this brief pullback is widely believed to be the hawkish remarks of Federal Reserve Chairman Powell at the European Central Bank forum.

In simple terms:👇

"If it weren't for the recent tariffs raising inflation, we would have started cutting rates long ago."
— Powell

He also emphasized that there will be no preset rate cut timetable and will 'let the data speak'📉, which has slightly dampened short-term market expectations.

But the market still has some hope: most people believe that there is still a chance of a rate cut in September, and there might be a wave of explosive catalysts for risk assets at the end of Q3💥.

⚡ On the other hand: Did Musk clash with Trump again?

In addition to macro news, the drama outside the crypto world hasn't stopped—Musk recently clashed with Trump again over a Republican reconciliation bill, which has a very dramatic name: 'A Great Beautiful Bill (OBBB)'🔥.

Although this isn't a direct negative, every time the big players clash, it does have some impact on market sentiment.

🧠 Industry performance varies: AI & memecoin are warming up, while DeFi is lagging...

From a sector perspective:

  • DeFi: The biggest victim, with an average drop of nearly 4% in the past 24 hours, rebounding the slowest🐢.

  • AI, L2, memecoin: Leading the recovery, with an average increase of 1%-3% 🚀.

This indicates that capital is more inclined towards new narratives and short-term speculative assets.

📊 Technical aspect: Increased probability of range-bound fluctuations.

The trading department QCP Capital emphasized the horizontal structure in the short term and pointed out that market sentiment is cautious, with the main players still oscillating.

📈 Risk reversal slightly increased, but implied volatility remains sluggish.

📈 The futures basis shows mediocre performance, with capital leaning towards a wait-and-see and range trading.

CoinGlass data also points out:

🚀 Lower key support: $105K, $103K 👉 Once a liquidation occurs, it might attract liquidity quickly.

🚀 Upper targets: $108K and $109K; if it stabilizes, it might open up new upward space.

🧭 Summary: Short-term oscillation is the main theme, focus on major catalysts.

Currently, the market rhythm feels a bit lackluster—neither up nor down🍗.
Whales are testing the waters, retail investors are waiting, and the main players are oscillating.

As long as there are no major issues macro-wise + no capital flight, there might still be some prospects at the end of Q3.

✍️ DYOR, manage risk well, and may everyone set sail in the crypto world!🌊

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