Market follows CPI data and the U.S. "Crypto Week", Bitcoin and Solana trend analysis

Recently, Trump announced a 30% tariff on products imported from Mexico and the EU, causing market fluctuations. This policy change adds uncertainty to the Federal Reserve's interest rate decisions, with market expectations for a rate cut in September dropping to around 70%. Strong employment data has basically ruled out the possibility of a rate cut in July, making the June CPI to be released this week the focal point of attention.

In addition to economic data, the U.S. Congress has announced this week as "Cryptocurrency Week" and plans to review multiple encryption bills that could reshape the digital asset market landscape.

In Hong Kong, the strategy for stablecoins and asset tokenization is steadily advancing. Analysis indicates that the "LEAP" framework in Hong Kong's Policy Statement 2.0 strikes a balance between innovation and robustness, aiming to accelerate the construction of the digital asset ecosystem. Despite facing challenges in the short term, in the long run, ETFs and commodity tokenization have the potential to attract capital inflows.

Bitcoin breaks through $121,500, setting a new historical high. Analysts point out that the $119,000 to $120,000 range is a key resistance zone for Bitcoin. If it successfully breaks through, it may rise to $135,000 to $140,000, but if it is blocked, it could retrace to the support level of $114,000 to $115,000.

Solana has increased by 12.87% in the past 30 days and has successfully broken through 160 dollars twice. Analysts believe that the current price trend is similar to the upward trend after the 125 dollar breakthrough in April, and it is expected to challenge 300 dollars before August. In the short term, 185 dollars is the key target price.

In terms of market dynamics, the performance of altcoins and Meme coins shows a high degree of speculation and community-driven characteristics. The NFT sector has seen phenomenal spread, with the "profile picture craze" sparked by Pudgy Penguins sweeping across multiple platforms, and its floor price has surged by 49.4% in the past week.

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 USD.

ETF Flows (as of July 11)

• Bitcoin ETF: +$1.03 billion, 7-day net inflow continues
• Ethereum ETF: +$205 million, with a net inflow for 6 consecutive days

Today's Outlook

• U.S. House Financial Services Committee: The week of July 14 will be "Encryption Week", during which multiple encryption bills will be reviewed.
• Sunrise has opened the $RISE airdrop claiming channel, which must be completed by July 15 and will be held in Q3 TGE.
• U.S. June unadjusted CPI year-on-year: Previous value 2.40%, Forecast value 2.70% (July 15, 20:30)
• US June seasonally adjusted CPI month-on-month: Previous value 0.10%, Forecast value 0.30% (July 15 20:30)
• Starknet (STRK) will unlock approximately 127 million tokens on July 15 at 8 AM.

Top 500 market cap gains today: Ski Mask Dog (SKI) up 57.79%, Usual (USUAL) up 46.86%, Pudgy Penguins (PENGU) up 31.60%, Algorand (ALGO) up 29.80%, XYO (XYO) up 29.15%.

Hot News

• Tokens such as TRUMP, ARB, and SEI will see large unlocks, with TRUMP unlocking a value of approximately 878 million USD.
• Lianlian Digital plans to raise approximately HKD 394 million for the application of blockchain technology in the payment field.
• The Czech central bank has included a certain trading platform in its investment portfolio and increased its holdings of Palantir shares.
• The listed company Davis Commodities is evaluating the establishment of a Solana strategic reserve, considering allocating 5-10% of its funds to SOL.
• In the past 7 days, the NFT trading volume increased by 20.67% to 122.6 million USD, with both the number of buyers and sellers dropping by over 80%.
• The publicly traded company Upexi announced a simultaneous private placement of $200 million in common stock and convertible notes to purchase SOL.
• The listed company MicroCloud Hologram has purchased $200 million of Bitcoin and encryption-related securities derivatives.
• SOON releases recovery plan, proposing to destroy 3% of total supply of tokens.