Trump has changed his mind again, restoring the 90-day tariff window with the EU and has agreed to extend the deadline to July 9. Last week, Trump announced plans to impose a 50% tariff on the EU starting June 1. On Monday, the U.S. stock indexes were closed, with the Nasdaq futures rising by 1.5% and the S&P 500 index rising by 1.2%, while the dollar index fell by 0.1%.
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Hester Peirce, head of the SEC's cryptocurrency working group, stated that she supports issuing further guidelines to determine which activities fall outside of the jurisdiction of securities laws, such as clearly involving direct participation in PoS and DPoS systems, as well as providing technical services that assist people in participating in these consensus mechanisms. The SEC's past regulatory approach has failed to effectively prevent fraud, instead causing confusion among compliant operators. This statement is seen as positive news for institutional participation in staking in the U.S. Musk stated that he has returned to a 7×24 work schedule, highly focused on X/xAI and Tesla, as key technologies are being launched. U.S. Treasury Secretary Basant: The sovereign wealth fund plan has been paused until all other matters are resolved. Data from asset management company Bitwise shows that in 2025, U.S. and other companies' BTC purchases have exceeded three times the new supply of BTC, with companies accumulating a total of 205,507 BTC this year, while the new supply of BTC is 64,556 BTC, only including the increases disclosed by listed companies. Fundraising Digest data shows that there were 7 large financing deals last week, with the largest financing amount being $135 million for Worldcoin. U.S. listed company Semler Scientific increased its holdings by 455 BTC from May 13 to May 22, bringing total holdings to 4,264 BTC.
Coindesk analyst Aoyon Ashraf stated that BTC has hit an all-time high, primarily driven by institutions. Although there was a brief surge of retail enthusiasm during the U.S. elections, marked by a rapid meme craze that temporarily boosted market sentiment, that wave of excitement has long since faded. Current market sentiment shows a trend towards more sustainable behavior, which may pave the way for the long term. Analyst Eugene Ng Ah Sio noted that despite the volatility along the way (especially in the altcoin market), BTC still maintains a clear upward trend. As long as this trend is upheld, the altcoin market has a chance, and upward potential may be revised. Last week, U.S. BTC spot ETFs saw inflows of $2.75 billion, including $2.432 billion for BlackRock's IBIT, $209.9 million for Fidelity's FBTC, and an outflow of $89.2 million for Grayscale's GBTC. ETH spot ETFs saw inflows of about $250 million, the highest level since early February. Cumulative net inflows for U.S. BTC spot ETFs reached $44.499 billion, setting a new historical high. BlackRock's IBIT has not seen any net outflows for 30 consecutive days, with ETF net assets exceeding $71 billion, approximately three times that of second-ranked Fidelity. Strategy announced an increase of 4,020 BTC last week, bringing total holdings to 580,250 BTC, with a cost of about $40.61 billion. Data from DefiLlama shows that the total market capitalization of stablecoins increased by 1.02% over the past 7 days, reaching $246.365 billion.
QCP stated that since late April, so-called risk assets have been steadily rising, with the U.S. stock index S&P 500 nearing 6,000 points. However, Trump's sudden proposal to raise tariffs on the EU to 50% disrupted market calm. Trump extended the tariff implementation deadline to July 9, stabilizing the market. BTC has benefited from the continuous net inflow of spot ETFs for 30 days. Amidst the turbulence in the U.S. environment, crypto assets are showing a stronger maturity. Trump has changed his mind again, restoring the 90-day negotiation window with the EU and has agreed to extend the deadline to July 9. Last week, Trump announced plans to impose a 50% tariff on EU imports starting June 1. The fourth round of tariff negotiations between Japan and the U.S. is scheduled for the 30th (needs attention). On Monday, U.S. stock indexes were closed, and BTC rebounded to $110,000. Federal Reserve's Goolsbee: There is still a possibility of a rate cut in the next 10 to 16 months and believes that the economy remains strong despite market volatility. If tariffs and uncertainty do not pose a threat to inflation, interest rates may eventually fall. Federal Reserve's Bostic: The Fed may need to wait 3 to 6 months to observe how uncertainty is resolved; Federal Reserve's Williams stated that the situation cannot be fully understood in June or July. Morgan Stanley stated that the Federal Reserve may at least wait until the July meeting, but the firm believes the Fed will not cut rates this year, expecting a 175 basis point cut starting in March 2026, with terminal rate expectations dropping to 2.50 - 2.75%. Citibank stated that considering the escalation of tariffs, it is raising its 0-3 month gold target price to $3,500 per ounce, expecting it to consolidate between $3,100 and $3,500 per ounce.
This week's agenda includes the Bitcoin 2025 conference on Wednesday, which will run from May 27 to 29. Attendees include David Sacks, the White House cryptocurrency and AI director, and U.S. Senator Cynthia Lummis. It is expected that U.S. Vice President Vance will speak at the conference. On Thursday, the Federal Reserve will release the minutes from the May monetary policy meeting; on Friday, the U.S. core PCE price index year-on-year for April will be announced. The PCE data on Friday will be an important basis for the direction of the Federal Reserve's monetary strategy (the previous PCE price index was 2.3%, the expected value is 2.2%; the previous core PCE price index was 2.6%, the expected value is 2.6%). Trump's unpredictable actions have influenced the market, and the plan for a 50% tariff on the EU has been postponed to July 9, improving market sentiment, with BTC touching $110,000 again on Monday. Once Trump's tariffs are implemented (with a 90-day buffer period), the Federal Reserve's monetary policy is also likely to follow suit. The Federal Reserve has been in a wait-and-see mode until the impact of tariffs is fully reflected in economic data, awaiting a break in market calm this summer and a resurgence of market enthusiasm. Wishing for a smooth summer.#加密市场反弹