The market awaits CPI data and "Crypto Assets Week", with Bitcoin defending and attacking between $135,000 and $115,000, and Solana aiming for $185.

1. Market Observation

Trump announced a 30% tariff on products imported from Mexico and the EU starting August 1, a move that has put pressure on the market, causing declines in US and European stock futures, while risk aversion has driven up the prices of gold, the US dollar, and Bitcoin. Analysts believe this policy shift has increased the uncertainty around the Federal Reserve's interest rate decisions, with market expectations for a rate cut in September dropping to about 70%. Strong employment data has essentially ruled out the possibility of a rate cut in July, making the June CPI report released this week the focus.

In addition to focusing on CPI data, China's second quarter GDP, and the US earnings season, the market also needs to closely monitor the movements in the US Congress. Congress has declared this week as "Crypto Assets Week" and plans to review several bills that could reshape the digital asset market landscape.

Hong Kong is steadily advancing its stablecoin and asset tokenization strategy. An analyst pointed out that Hong Kong is issuing a limited number of initial stablecoin licenses, focusing on cross-border payment applications. He believes that the "LEAP" framework in Hong Kong's Policy Statement 2.0 strikes a balance between innovation and stability, aiming to accelerate the development of the digital asset ecosystem. Although 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 to reach a new high. Analysts point out that $119,000 to $120,000 is a key resistance zone, and if broken, it may rise to $135,000 to $140,000; if it encounters resistance, it may test support at $114,000 to $115,000. According to analysis, the second round of upward trend for Bitcoin prices has entered its second week. Meanwhile, Solana has increased by 12.87% in the past 30 days, successfully breaking through $160 twice. Analysts expect SOL to challenge $300 before August, with $185 being the 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 a certain penguin project triggering a "profile picture frenzy" sweeping multiple platforms, its floor price soaring 49.4% over the past week and rising 21.8% in 24 hours, far surpassing other blue-chip projects.

2. 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 (YTD -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 Gains and Losses: The NFT sector increased by 8.98%; the GameFi sector increased by 6.12%.
• 24-hour liquidation data: A total of 119,500 people globally were liquidated, with a total liquidation amount of 684 million USD.
• BTC medium to long-term trend channel: upper line (114340.09 USD), lower line (112075.93 USD)
• ETH Medium to Long-term Trend Channel: Upper Line (2788.33 USD), Lower Line (2733.12 USD)

3. ETF Flows (as of July 11)

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

4. Today's Outlook

• U.S. House Financial Services Committee: The week of July 14th will be "Crypto Week", where multiple encryption bills will be reviewed.
• A certain project has opened the token airdrop claim channel, which must be completed before July 15 and will have its TGE in Q3.
• US June unadjusted CPI YoY: Previous value 2.40%, Forecast value 2.70% (July 15, 20:30)
• U.S. June seasonally adjusted CPI monthly rate: Previous value 0.10%, Forecast value 0.30% (July 15, 20:30)
• A certain project will unlock approximately 127 million tokens on July 15 at 8 AM, which is 3.53% of the current circulating supply, valued at about 17.6 million USD.

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%.

5. Hot News

• Data: Multiple tokens will face large unlocks, with one token unlocking a value of approximately $878 million.
• This week's preview | The "Crypto Week" is coming, multiple crypto bills will be reviewed; approximately $800 million worth of tokens are about to be unlocked.
• This week's macro outlook: CPI judgment day is approaching, Bitcoin may continue to reach new historical highs.
• Lianlian Digital plans to raise approximately 394 million HKD for the application of blockchain technology in the payment field.
• A listed company purchased 16,374 ETH again 7 hours ago, bringing its total holdings to 270,000.
• The Czech central bank has included a certain trading platform in its investment portfolio and increased its holdings in Palantir stocks.
• The publicly listed company Davis Commodities is evaluating the establishment of a Solana strategic reserve, considering allocating 5-10% of its funds to SOL.
• The NFT trading volume in the past 7 days increased by 20.67% to $122.6 million, with both the number of buyers and sellers dropping by over 80%.
• 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 in common stock and convertible notes to purchase SOL.
• The listed company MicroCloud Hologram has purchased $200 million worth of Bitcoin and crypto assets related securities derivatives.
• SOON announces a recovery plan, intending to destroy 3% of the total supply of tokens.