Key Takeaways
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Macro Environment: On Friday, core PCE for May showed a modest increase, while consumer confidence rose to a four-month high and inflation expectations improved. Trade agreements presented a mixed outlook—optimism around EU-US negotiations contrasted with renewed tensions in US-Canada relations. Over the weekend, Trump’s “Beautiful Act” narrowly passed a procedural vote. Overall, data signals optimism for inflation expectations, tax policy stability under Trump, and upcoming EU-US trade deals, driving bullish sentiment in risk assets. Nasdaq and S&P hit record highs.
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Crypto Market: Positive macro expectations led Bitcoin to post three consecutive daily gains from Friday to Sunday, again surpassing the 108K mark. ETH/BTC rose for four consecutive days, and Bitcoin dominance declined for three straight sessions, suggesting a slight broadening of market risk appetite.
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Today's Outlook: CME Group to launch spot-referenced futures on June 30, covering Bitcoin, Ethereum, and four major US equity indexes. Singapore mandates all unlicensed exchanges to cease operations by June 30. Ethereum Community Conference Europe (EthCC) to be held in Cannes, June 30–July 3. Starting June 30, Aptos will automatically migrate APT and its native tokens to the FA standard.Token Unlocks (estimates): Optimism (OP): 0.67%, ~$17.4M; Kamino (KMNO): 10.44%, ~$13.8M; Across Protocol (ACX): 22.61%, ~$13.5M
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,173.08 | +0.52% |
| NASDAQ | 20,273.46 | +0.52% |
| BTC | 108,357.50 | +0.99% |
| ETH | 2,500.80 | +2.67% |
Crypto Fear & Greed Index: 66 (Greed), down from 68 yesterday.
Project Highlights
Trending Tokens: ARB, PENGU, W
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Solana (SOL): REX Shares announced plans for a staking-based ETF on Solana.
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LISTA: WLFI partnered with Re7 Labs to establish a USD1 liquidity pool on Euler and Lista.
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PENGU: The token was listed on Europe's #1 finance app, RevolutApp, on June 28 and filed an ETF application with CBOE on June 26. It saw a 24-hour price spike of up to 30%.
Macro Economy
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On June 29, the U.S. Senate passed a procedural motion by 51–49 votes to advance Trump’s “Beautiful Act,” a sweeping tax and spending bill. Final vote expected June 30, with plans to deliver it to the President by July 4.
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U.S. Trade Representative Tai suggested trade talks may be extended beyond the original deadline into September.
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U.S. Core PCE YoY (May): 2.7% (vs. 2.6% forecast & previous)
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U.S. June Michigan Consumer Sentiment (final): 60.7 (vs. 60.5 expected)
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Trump: Interest rates should be at 1–2%, expressing opposition to paying high rates on 10-year debt.
Industry Highlights
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Ripple: Dropped its cross-appeal against the SEC, agreed to a $125M fine; permanent injunction remains in effect.
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Hong Kong: Treasury Bureau and SFC launched consultation on proposed regime for virtual asset trading and custody service providers.
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Tianfeng Securities: Subsidiary granted Type 3 license in Hong Kong, allowing VA trading services.
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Argentina: Finalized virtual asset service provider rules. Non-compliant registrations may be revoked; unregistered operators risk court-ordered shutdowns.
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Michael Saylor: Re-shared Bitcoin Tracker; may disclose new BTC purchases next week.
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Gemini: Launched tokenized stock trading for EU clients; first asset is MicroStrategy (MSTR).
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ETF Watch: Analysts suggest SEC may approve Grayscale GDLC ETF this week.
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Base (Layer 2): Co-founder teases a major announcement for July 16.
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Robinhood: Released micro futures for XRP and SOL.
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Fiserv: Partnering with PayPal and Circle to launch USD stablecoin "FIUSD".
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Guotai Haitong: Published report predicting more Hong Kong brokers to expand into VA services.
This Week's Outlook
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July 1
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S&P Global to release U.S. June ISM Manufacturing PMI.
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Argentina's PSAV-registered individuals must comply with new VA service provider rules.
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Ledn to shut down ETH support and yield products; shifting fully to BTC-backed loans.
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Sui token unlock: 1.3%, ~$122.8M.
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Zama (privacy-focused blockchain) to launch testnet.
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July 2
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Ethena (ENA) unlock: 0.67%, ~$10.7M
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July 3
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U.S. to release June Nonfarm Payrolls at 20:30 UTC+8
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July 4
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U.S. markets closed for Independence Day.
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Elon Musk hints Grok 4 release after July 4.
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U.S. Senate expected to vote on Trump’s tax & spending package.
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Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
