In the cryptocurrency market of July, Trump's series of operations was like a giant rock thrown into a calm lake, stirring up waves that completely disrupted the market's original tranquility.
Crazy Bitcoin
On July 28, Bitcoin's price range was fixed at 117,000-119,800, like a mischievous sprite weaving through a maze of short-term double-sided temptations, causing many investors to be entangled. Some adventurous KOLs boldly placed high-risk short orders at high levels, betting on a price correction; while another group confidently held bullish views, predicting it would break through the 130,000 mark. On the same day, Ethereum did not fall behind, strongly breaking through the 3,860 mark, reaching a high of 3,862.19, and the market's call for it to hit 4,000+ surged, becoming the center of attention.
Stablecoins and the Underlying Currents of the Overall Market
On July 17, the (Genius Act) passed by the U.S. House of Representatives officially took effect, dropping a deep-water bomb into the calm waters of the cryptocurrency sector. This act focuses on the development and innovation of stablecoins, attempting to cleverly utilize the synergies between private stablecoins and national-level digital asset reserves to consolidate the dollar's dominant position in global reserve assets, sparking heated discussions in the market about the future landscape of digital currencies and the direction of the financial system. On July 28, the entire cryptocurrency market presented a strong oscillating trend, with mainstream coins like SOL, BNB, XRP, and ENA also embarking on a rebound journey. In addition, the news of the extension of the tariff suspension between China and the U.S. for 90 days was interpreted as a favorable factor, stimulating both U.S. stocks and Bitcoin to rise simultaneously. The discussions among central bank governors on July 1 and the U.S. Senate's "Big Beautiful" bill vote on July 4 further spotlighted the liquidity of stablecoins and the TVL of DeFi projects, along with on-chain leverage.
Trump: The "Super Player" of the Cryptocurrency World
On July 18, Trump signed a cryptocurrency bill in the East Room of the White House, an action that sounded the horn for the United States’ innovative development in the digital asset field, bringing a clearer regulatory framework and compliance path to the cryptocurrency industry. Behind this lies a profound consideration of developing a digital dollar strategy and enhancing the global dominance of the U.S. dollar.
On July 25, when the news broke that Trump had reached a consensus with Federal Reserve Chairman Powell on interest rate cuts, it was like a shockwave, instantly igniting the financial markets, causing severe tremors in every corner, including the cryptocurrency market. On July 31, the Federal Reserve is set to announce its interest rate decision, and the market is holding its breath, closely watching the influence of Trump on Federal Reserve policy and the subsequent chain reactions.
In terms of tariff policy, starting from July 3, Trump announced consecutive tariffs of 20% on goods exported from Vietnam, 40% on goods transshipped through Vietnam from third countries, and an additional 10% tariff on countries that adopt "anti-American policies" within the BRICS nations. These high tariffs came into effect on August 1, with plans to impose a 50% tariff on imported copper, affecting the semiconductor and pharmaceutical sectors. This series of actions was like a series of explosive shells, causing a huge impact on the global economic landscape and trade relationships.
In July, Trump boldly declared once again that he would create a reserve consisting of five cryptocurrencies, aiming to elevate the United States to the throne of the "World Cryptocurrency Capital." Moreover, Trump Media and Technology Group submitted documents to the U.S. Securities and Exchange Commission, seeking approval to launch a "Cryptocurrency Blue-Chip ETF," adding fuel to the cryptocurrency market and pushing its popularity to new heights.
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