Market Sentiment
The current Fear & Greed Index is 65 (Greed). Investor sentiment is leaning towards optimism, characterized mainly by expectations of rising hard assets, with core driving factors including U.S. fiscal uncertainty and the continued inflow of institutional allocations to ETH, although short-term macro pressures lead to consolidation.
Market Overview
The latest price of Bitcoin is $115,700.00, with a 24-hour decline of about 2.00%; the latest price of Ethereum is $3,696.66, with a 24-hour decline of about 4.64%. The fluctuation is mainly due to the June PCE inflation data exceeding expectations and the delay in the implementation of Trump's tariffs, triggering investor profit-taking and risk aversion.
On-chain Focus
Whale wallets have transferred over $900 million worth of ETH from CEX in the past 24 hours, accumulating 790,000 ETH (worth $2.89 billion); USDC Treasury has burned 52 million USDC; smart money addresses have converted BTC short positions to long positions and established a $3.61 million ETH long position.
Institutional Movements
The U.S. Bitcoin spot ETF saw a net outflow of $114.8 million yesterday; Ethereum spot ETF had a net inflow of $17 million, achieving positive inflows for 20 consecutive trading days. The flow of funds directly exacerbates Bitcoin's short-term downward pressure while providing support for Ethereum, and market volatility is expected to remain high.
Regulation and Macro
Hong Kong (Stablecoin Regulations) officially takes effect, opening the first round of issuer license applications; U.S. June core PCE inflation year-on-year rises to 2.8%, non-farm data to be released tonight. Policies drive the development of the Asian digital asset ecosystem, but inflation uncertainty undermines the Fed's September rate cut expectations, directly leading to increased market wait-and-see sentiment.
