The market awaits CPI data and "Crypto Week", with Bitcoin fluctuating between 115,000 and 135,000.

Market Observation

Recently, Trump announced a 30% tariff on products imported from Mexico and the EU to the US starting from August 1, which has raised market concerns. US and European stock futures fell in response, and safe-haven sentiment drove up the prices of gold, the US dollar, and Bitcoin. Analysts generally believe that this policy change has increased the uncertainty of the Federal Reserve's interest rate decisions, with market expectations for a rate cut in September shifting from certain to around 70%. Strong employment data has largely ruled out the possibility of a rate cut in July, making the upcoming June CPI report the focus of attention this week.

In addition to the CPI data, the market will also focus on China's Q2 GDP, the US earnings season, and developments in the US Congress. Congress has declared this week as "Cryptocurrency Week" and plans to review several related bills that may reshape the landscape of the digital asset market.

In Hong Kong, the strategy for stablecoins and asset tokenization is progressing steadily. Analysts point out that Hong Kong is issuing a limited number of the first stablecoin licenses, focusing on cross-border payment applications. The "LEAP" framework in Hong Kong's policy statement 2.0 strikes a balance between innovation and stability by optimizing laws, supporting startups, and enhancing international cooperation. In the long run, ETFs and commodity tokenization have the potential to attract capital inflows, but improvements in the legal framework and ensuring transaction security are still needed.

Bitcoin breaks through $121,500 to set a new high. Analysts point out that the key resistance zone is between $119,000 and $120,000; if broken, it may rise to $135,000 to $140,000, but if it faces resistance, it may test the support at $114,000 to $115,000. Solana has risen by 12.87% in the past 30 days, breaking through $160 twice. Analysts expect SOL to aim for $300 before August, with $185 being a key target price in the short term.

Altcoins and Meme coins exhibit high speculative and community-driven characteristics. The NFT sector has seen phenomenal spread, with Pudgy Penguins triggering a "profile picture craze" sweeping multiple institutions, as its floor price has skyrocketed by 49.4% in the past week and increased by 21.8% in 24 hours, far surpassing other blue-chip projects.

Key Data (As of July 14, 12:00 HKT)

• Bitcoin: $121,974 (Year-to-date +30.75%), Daily Spot Trading Volume $42.164 billion
• Ethereum: $3,048.51 (Year-to-date -8.76%), Daily spot trading volume is $25.486 billion
• Fear and Greed Index: 75 (Greed)
• Average GAS: BTC: 0.52 sat/vB, ETH: 2.22 Gwei
• Market Share: BTC 63.6%, ETH 9.7%
• 24-hour BTC long-short ratio: 1.192
• Sector performance: NFT sector increased by 8.98%; GameFi sector increased by 6.12%
• 24-hour liquidation data: A total of 119,500 people were liquidated globally, with a total liquidation amount of $684 million.

ETF Flow (as of July 11)

• Bitcoin ETF: +$1.03 billion, continued net inflow for 7 days
• Ethereum ETF: +$205 million, sustained net inflow for 6 days

Today's Outlook

• The U.S. House Committee on Financial Services will review multiple encryption bills.
• Sunrise has opened the $RISE airdrop claiming channel.
• The year-on-year CPI for June in the U.S. and the month-on-month seasonally adjusted CPI will be released.
• Starknet (STRK) will unlock approximately 127 million coins.

Hot News

• Tokens such as TRUMP, ARB, and SEI will see large unlocks.
• The Czech central bank has included a certain trading platform in its investment portfolio.
• Public company Davis Commodities assesses the establishment of a Solana strategic reserve
• The NFT trading volume in the past 7 days increased by 20.67% month-on-month to reach $122.6 million.
• PUMP on-chain public offering data analysis: USDC accounts for 97%, while USDT only accounts for about 3%
• The publicly traded company Upexi announced a private placement of 200 million USD to purchase SOL.
• SOON releases recovery plan, proposing to destroy 3% of the total supply of tokens.