The global market focuses on CPI data and encryption policy trends, Bitcoin price hits a historic high

The global financial markets are closely monitoring the upcoming release of the US June CPI data and the cryptocurrency policy developments in the US Congress. These factors will have a significant impact on the future economic direction and the landscape of the digital asset market.

Recently, the sudden announcement of a tariff policy has triggered market volatility. This move has led to declines in U.S. and European stock futures, while pushing up the prices of gold, the dollar, and Bitcoin. Analysts have expressed concerns, believing this could impact the credibility of U.S. policies. At the same time, it adds new uncertainty to the Federal Reserve's interest rate decisions. Currently, market expectations for a rate cut in September have fallen to about 70%. Strong employment data has largely ruled out the possibility of a rate cut in July, making the upcoming June CPI data the focus of the market.

In addition to economic data, investors also need to pay attention to the movements of the U.S. Congress. This week has been designated as "cryptocurrency week," and Congress plans to review several important bills that could reshape the regulatory landscape for digital assets.

In Hong Kong, the strategy for stablecoins and asset tokenization is steadily advancing. Experts believe that Hong Kong's policy framework has struck a balance between innovation and stability, aiming to accelerate the construction of the digital asset ecosystem. Despite facing some challenges in the short term, in the long run, ETFs and commodity tokenization are expected to attract capital inflows.

Bitcoin price has reached a new historical high, breaking the $120,000 barrier. Analysts believe that if it can break the resistance level of $121,500, it is likely to test the range of $135,000 to $140,000. Solana has also performed strongly, with an increase of 12.87% over the past 30 days, and analysts expect it may challenge $300.

The altcoin and meme coin markets exhibit a high degree of speculation, with price fluctuations being severe. The NFT sector has seen phenomenal spread, with a certain project's "profile picture craze" sweeping across many well-known platforms, resulting in a significant increase in its floor price and trading volume.

Key Market Data

• Bitcoin price: $121,974( year-to-date +30.75%)
• Ethereum Price: 3,048.51 USD( Year-to-date -8.76%)
• Fear and Greed Index: 75( Greed )
• Bitcoin market share: 63.6%
• Ethereum market share: 9.7%
• Total liquidation amount in 24 hours: 684 million USD

Recent Important Events

• The U.S. House Financial Services Committee will review multiple encryption bills.
• The US June CPI data will be released on July 15.
• Starknet(STRK) will unlock approximately 127 million tokens on July 15.
• Multiple project tokens will face large unlocks.
• Multiple listed companies have increased their holdings of Bitcoin, Ethereum, and other encryption assets.

The current market sentiment is optimistic, but it is still necessary to cautiously pay attention to the potential impact of macroeconomic data and policy changes on the market.