On Monday, the US stock index opened, with the Nasdaq index increasing by 0.23% during the session, the S&P 500 index up by 0.04%, and gold down by 0.68% to $3310 per ounce. On Thursday, during the Federal Reserve's interest rate meeting, when asked whether the Fed should cut interest rates this week, Trump stated: "It must be done".
Back to the point:
The US Senate Banking Committee has launched a draft discussion on the CLARITY Act (market structure bill), proposing the concept of subsidiary assets to clarify the meaning of digital assets and seeking to define the SEC's regulatory approach to digital assets, inviting public comments before early August. Last week, the House of Representatives voted to pass the bill, awaiting Senate approval and submission for Trump's signature. A Gallup survey showed that 60% of Americans have no plans to invest in cryptocurrencies; about 14% of American adults own cryptocurrencies, with a slight increase in digital asset holdings since 2021, but most Americans still view them as risk assets. The UK-listed company Coinsilium Group's subsidiary Forza increased its holdings by 12.4230 BTC, holding a total of 124.4239 BTC; the European listed company Capital B increased its holdings by 58 BTC, holding a total of 2013 BTC. Bloomberg reported that Trump Media & Technology Group (TMTG) has invested $300 million in BTC-related securities-linked options strategies, with unclear details. Validatorqueue data shows that about 660,000 ETH are waiting to exit ETH PoS, with a waiting time of about 11 days and 11 hours; about 263,000 ETH are queued to enter, with an expected wait of 4 days and 14 hours. Matrixport stated that current market sentiment is gradually turning optimistic, with a dense release of US stock earnings reports this week, a postponed White House digital asset report, and key events like the Fed's interest rate decision potentially becoming new catalysts for market volatility. From historical data, BTC's performance in August and September is relatively weak; although the bullish expectation for the year remains, seasonal disturbances may lead to a short-term consolidation period in the market.
Analyst Chloe stated that the global trade situation is easing, with the US and Europe reaching an agreement on tariff disputes, and negotiations in regions like the US-Japan and US-Canada-Mexico accelerating, providing support for stabilizing the global supply chain and warming market risk appetite, laying the groundwork for a stage-wise rebound for risk assets like BTC. Powell's wording in the interest rate meeting is key; if he conveys a mild message, it may alleviate market concerns about high interest rates; conversely, if he leans hawkish, the crypto market may face volatility pressure again. Last week, BTC spot ETF inflows were $72.3 million, and ETH spot ETF inflows were $1.8465 billion. Tether issued an additional $1 billion stablecoin on Monday, with a total issuance of $8 billion stablecoins since July 1. According to btcNLNico data, last week entities with BTC reserve strategies increased their holdings by 29,500 BTC, with 62 related announcements published; SharpLink Gaming increased its holdings by 77,206 ETH ($296 million) over the weekend. JackYi, founder of LD Capital, stated that the market is entering a long bull market, possibly bidding farewell to the traditional four-year cycle, and that stablecoins and blockchain present an opportunity for the dollar's globalization in the US, with the market continuing to grow. Blockware analyst Mitchell Askew said that BTC will no longer experience parabolic price rises or devastating bear markets; the spot ETF has permanently reduced volatility and changed market dynamics, and the next 10 years will be characterized by rises, consolidations, and boredom.
Regarding tariff news, EU Commission President von der Leyen stated that the trade agreement reached with the US will bring stability and long-term confidence, agreeing to implement a unified 15% tariff; Trump stated he has reached a trade agreement with the EU, and the EU will invest an additional $600 billion in the US. John Plassard, strategy director at Cité Gestion, stated that this agreement releases the "predictability" that the market needs, further enhancing risk reduction and eliminating macro adverse factors, sending a green light message to the market. On Monday, when asked whether the Fed should cut interest rates this week, Trump stated: "I think it must be done." Vought, director of the US Office of Management and Budget, said that Trump's only request to the Fed is to cut interest rates, and Trump is looking for a Fed head who is on top of the economy. Swiss bank Pictet stated that the Fed may restart its interest rate cut cycle at the September meeting, as a weakening economic outlook means the Fed will implement looser monetary policy in the second half of the year. UBS stated that since concerns triggered by US tariffs peaked in April, the S&P 500 index has risen nearly 30%, and the significant increase in recent weeks reflects many potential positive signals, but uncertainties regarding tariffs still exist, and the market should prepare for possible volatility in the coming weeks.
On Monday, the US stock index opened, with the Nasdaq index increasing by 0.23% during the session, the S&P 500 index up by 0.04%; BTC up by 0.2%, ETH up by 0.8% reaching $3900; BNB reached a new high with a market value of $11.9 billion. Analyst Eugene Ng Ah Sio stated that BNB hitting an all-time high is noteworthy news, being the first mainstream coin to achieve a historical high aside from BTC, which is positive information for Total3 (total market cap excluding BTC and ETH). This week, many data will be released: on Wednesday, July ADP employment figures, previous value -35,000, expected value 78,000; on Thursday, the Fed's interest rate meeting and Powell's press conference; the US June core PCE price index year-on-year, expected 2.70%, previous value 2.70%; on Friday, the US July non-farm employment population (ten thousand), expected 102, previous value 147; July unemployment rate previous value 4.1%, expected value 4.2%. The US and Europe reached an agreement on tariffs, macro headwinds have decreased; the likelihood of a dovish stance from the Fed in the interest rate meeting is high, with macro positives approaching. Among mainstream coins, BTC reached a new high, BNB has reached a new high, ETH is close to $4000, analysts are inclined to believe the market is entering a long-term bull market, and if this week's employment and inflation data supports it, the bull market will be clearer. We will wait for new highs in mainstream coins and the recovery of altcoins, maintaining a good sentiment and hoping for a smooth return of the bull market.