Gate Daily: Surprising differences in China-U.S. tariff negotiations; SEC approves creation and redemption of physical Crypto Assets ETP; Strategy secures massive financing to acquire 21021 coins.

Bitcoin (BTC) has once again entered a retracement phase, with the Asian morning report today (30th) showing a price of around $117,600. Reports of differences have emerged in the new round of tariff negotiations between China and the US, with China stating that a consensus has been reached, while the US team indicated that no agreement would be reached unless President Trump approves. The US Securities and Exchange Commission (SEC) has approved the creation and redemption of exchange-traded products (ETPs) for crypto asset exchanges, allowing authorized representatives to directly exchange shares for the underlying crypto assets instead of cash.

Today's Outlook

1. Change in API crude oil inventory in the United States last week (10,000 barrels) (as of 0725), previous value was -57.7

2. Australia's second quarter Consumer Price Index (quarterly), previous value was 0.9%.

3. Australia’s Consumer Price Index (CPI) for the second quarter (annualized) was previously at 2.4%.

4. France's second quarter GDP preliminary value (quarterly), previous value was 0.1%

5. Germany's Q2 GDP initial value (annualized), previous value was -0.2%.

6. Germany's preliminary GDP (quarterly rate) for the second quarter, previous value was 0.4%.

7. U.S. July ADP Employment Change (in thousands), previous value was -33.0

8. U.S. Q2 Actual GDP Preliminary Value (Annualized Quarterly Rate), Previous Value was -0.5%

9. Preliminary value of the U.S. second quarter Personal Consumption Expenditures Price Index (annualized quarterly rate), previous value was 0.5%.

10. Canada's overnight target rate, previous value was 2.75%

11. U.S. June NAR Seasonally Adjusted Existing Home Sales Index (MoM), previous value was 1.8%

12. U.S. EIA crude oil inventory change (10,000 barrels) (as of 0725), previous value was -316.9

13. Vice Premier He Lifeng of the State Council visited Sweden from July 27 to 30 for economic and trade talks with the US.

14. The Bank of Canada announces its interest rate decision and monetary policy report.

Macroeconomic Events & Coin Circle Hotspots

1. The Hong Kong South China Morning Post reported that China and the United States have differences regarding the timing of once again suspending the increase of tariffs, which is an obstacle that must be cleared before the two largest economies in the world can reach a trade agreement by the August 12 deadline. After a two-day meeting held in Stockholm, Sweden, the Chinese negotiating representatives announced that they had reached a Consensus on extending the suspension of the tariff increase, while the U.S. side insisted that no agreement would be finalized without explicit approval from President Donald Trump. The Chinese side did not announce any breakthroughs and did not specify the extension period. This meeting marks the third round of high-level trade negotiations between China and the United States.

2. The U.S. Securities and Exchange Commission (SEC) on July 29 acknowledged Nasdaq's proposal to amend the BlackRock iShares Ethereum Spot ETF (ETHA) so that the fund can stake its held ETH. Nasdaq's filing will remove the previous statement that neither BlackRock nor the custodian would use any ETH held by the exchange-traded fund (ETF) to validate Ethereum's proof-of-stake chain or earn income. The proposal will add a new "staking" section, authorizing the staking of part or all of the ETHA's Ethereum directly or through one or more trusted staking providers, with any staking rewards to be paid to the ETF and potentially considered as income.

3. The U.S. Securities and Exchange Commission (SEC) has approved the creation and redemption of physical crypto exchange-traded products (ETPs), allowing authorized representatives to exchange shares directly for the underlying crypto assets instead of cash. The securities regulator stated in an announcement on Tuesday that the approved Bitcoin and Ethereum funds will be allowed to create and redeem shares in physical form. SEC Chairman Paul Atkins stated in a release, "This is a new day for the U.S. Securities and Exchange Commission, and my top priority as Chairman is to develop a regulatory framework suitable for the crypto assets market." Atkins noted that the new rules will make crypto ETPs "lower cost and more efficient."

Market Trends

1, $BTC fell into the rollback market again, tentatively reported about $117,600, and exploded $36.82 million in the past 24 hours, the main explosion of long orders;

2. The US stock market closed slightly lower on Tuesday (29th), with the S&P 500 index ending a six-day winning streak, and the Nasdaq index retreating from record highs due to disappointing earnings reports from some companies, overshadowing concerns about high valuations and hopes for an extension of the US-China tariff ceasefire. Additionally, investors are waiting for the latest decisions from the Federal Reserve. The Dow Jones Industrial Average closed down 204.57 points on the 29th, a decline of 0.46%, at 44,632.99 points; the S&P 500 index fell 18.91 points, down 0.30%, at 6,370.86 points; the Nasdaq index dropped 80.29 points, a decrease of 0.38%, at 21,098.29 points. The Philadelphia Semiconductor Index was nearly flat, rising 2.69 points, an increase of 0.04%, at 5,739.79 points.

3. In the Gate BTC/USDT liquidation map, based on the current 117,937.70 USDT, if it drops to around 116,204 USD, the cumulative liquidation amount for long positions exceeds 230 million USD; if it rises to around 118,703 USD, the cumulative liquidation amount for short positions exceeds 165 million USD. The liquidation amount for shorts is significantly lower than that for longs, and it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Gate)

4. In the past 24 hours, BTC spot inflow was 2.09 billion USD, outflow was 2.11 billion USD, resulting in a net inflow of 0.02 billion USD.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $BTC, $ETH, $SOL, $XRP, and $SUI have seen net outflows, indicating trading opportunities.

(Source: Coinglass)

News Updates

1. The White House delays advancing the CFTC chairman nomination vote possibly because he still serves as a director of Kalshi.

2. OpenAI has launched the ChatGPT learning mode, providing a step-by-step guided learning experience.

3. Strategy completed a financing merger of 2.521 billion USD acquiring 21,021 Bitcoins.

4. Hong Kong Monetary Authority: After the "Stablecoin Regulation" comes into effect, a 6-month transition arrangement will be established.

5. Algeria prohibits all encryption activities, and offenders will face imprisonment and fines.

6. Bit Digital's AI infrastructure company Whitefiber seeks $132.8 million IPO

7. eToro will launch tokenized US stocks on the Ethereum blockchain.

8. Market News: Hyperliquid order system suspected malfunction.

9. The publicly listed company 180 Life plans to raise approximately 425 million USD through private placement and transform into an Ethereum treasury reserve company.

10. Analysis: PumpFun is suspected to only repurchase tokens with a 100% income in 1 day, and the related model may be difficult to sustain.

11. Twenty One is expected to increase its holdings by 5,800 BTC before listing, bringing the total holdings to at least 43,500 BTC.

12. Bitmine reveals that its Ethereum holdings have increased to approximately 625,000 coins.

13. SharpLink reveals that its total holdings of Ethereum have increased to approximately 438,000 ETH.

14. CITIC Securities: Continue to pay attention to issuers that may obtain the first batch of stablecoin licenses, and the scenario platforms that participate in the creation of stablecoin use cases with certainty.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Yesterday, I speculated that the fluctuations in the price of $BTC were related to investors' risk-averse sentiment. Today, in addition to some risk-averse sentiment, the price fluctuations also include the potential reversal of the U.S. tariff policy on China. Later today, Bessen and Trump both gave speeches and mentioned issues related to China. Bessen stated that the expectations for a suspension of tariffs on China are somewhat high, and he believes that only by exerting more pressure on China can there be more cooperation regarding tariffs. He also echoed Trump’s comments that if China continues to purchase oil from Russia, it may face high tariffs, suggesting that Trump's patience with Russia is running out. Looking back at Bitcoin's data, as the workweek progresses, the turnover rate has slightly increased, but not significantly. The bulk of the turnover is still concentrated among investors with holding prices above 100,000 USD, who may be concerned about renewed trade friction between China and the U.S., as such friction tends to lead to a downturn in risk markets. Additionally, Powell's hawkish stance is also seen as normal risk aversion. Overall, through the on-chain data of $BTC and ETF data, it can be seen that investors' FOMO sentiment has nearly dissipated, purchasing power is beginning to decline, but the good news is that sell-offs are gradually decreasing. We are back to a situation with less selling and less purchasing power. Let’s see if Powell can break the deadlock this time."