Market Observation and Important Data

Trump hinted that he might not seek a third term and stated that he will decide on the new Federal Reserve Board member this week. He plans to announce new tariff policies targeting drugs and chips within the next week.

Former Treasury Secretaries Paulson and Geithner warned that the U.S. Treasury market faces multiple threats, including an unsustainable fiscal path and issues within the political system. After Trump fired the head of the Bureau of Labor Statistics, the market has raised doubts about the credibility of official data. However, weak employment data has led Wall Street to anticipate that the Federal Reserve will initiate interest rate cuts in September this year.

The Web 3.0 layout in Hong Kong is showing positive effects. Hong Kong-listed companies are entering the Web 3.0 field through financing, promoting financial innovation, optimizing operational efficiency, and enhancing global competitiveness. This trend is attracting global capital and talent to Hong Kong.

Bitcoin recently broke below the short-term support range, leading to a large number of leveraged long positions being liquidated. Analysts expect the price may further dip to the $109,000 - $112,000 range. In the long term, some analysts predict that the price of Bitcoin may reach $135,000 - $150,000 around September 2025.

Ethereum prices have rebounded to around $3,650. Despite experiencing significant net outflows in its ETF, on-chain data shows that institutions and large holders are still actively buying.

The trading activity on the Pump.fun platform surpasses that of Bonk.fun. At the same time, MYX has surged significantly recently and reached an all-time high, but there may be manipulation behind this. It is worth noting that the Chinese Ministry of State Security has issued a warning about the risks of biometric data collection, which closely aligns with the Worldcoin project.

Key Data

• Bitcoin: $113,525, Year-to-date +21.98%
• Ethereum: $3,582.39, Year-to-date +8.91%
• Fear and Greed Index: 54( Neutral )
• Market Share: BTC 61.1%, ETH 11.8%
• Total liquidation amount in 24 hours: $358 million

ETF Flow

• Bitcoin ETF: -$196 million, net outflow for 4 days
• Ethereum ETF: +$73.22 million

Today's Outlook

• Linea on-chain DEX Etherex will launch REX
• The implementation date for Trump's reciprocal tariffs has been postponed to August 7.
• Heroes of Mavia and EigenCloud will unlock a portion of tokens.
• Jito will unlock approximately 11 million tokens on August 7.

Hot News

• The Ministry of State Security warns that a certain foreign company collecting iris information poses a threat to national security.
• Hack VC has withdrawn MYX received from the airdrop claiming contract.
• Over 955,000 Bitcoins are held by more than a hundred publicly listed companies globally.
• Galaxy plans to issue tokenized stock GLXY
• In July, the Ethereum blockchain transaction volume approached $240 billion.