Key Takeaways
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Macro Environment: Canada has withdrawn its digital services tax on tech companies and is expected to resume trade negotiations with the United States. Bessent anticipates a series of new trade agreements to be signed before July 9. Positive sentiment has driven both the S&P 500 and NASDAQ to new highs.
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Crypto Market: Bitcoin opened high but declined, continuing its fluctuating trend with a weakened correlation to U.S. stocks, signaling market divergence. The SOL Staking ETF has boosted expectations for ETH staking, and the ETH/BTC ratio has maintained a 5-day rise. Bitcoin's market dominance has slightly decreased for four consecutive days, with altcoins catching up in terms of exchange rates.
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Today's Outlook: S&P Global will release the U.S. June ISM Manufacturing Index. Argentina will finalize regulations for virtual asset service providers; individuals registered under PSAV must comply with new rules before July 1. Crypto lending platform Ledn announced it will terminate Ethereum support and yield-bearing services, fully shifting to a Bitcoin-backed loan model. Zama, a privacy-focused confidential blockchain protocol, will launch its testnet on July 1.
Token Unlocks (estimates): SUI : 1.3%, ~$122.8M
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,204.94 | +0.52% |
| NASDAQ | 20,369.73 | +0.52% |
| BTC | 107,145.60 | -1.12% |
| ETH | 2485.43 | -0.61% |
Crypto Fear & Greed Index: 64 (Greed), down from 66 yesterday.
Project Highlights
Trending Tokens: HFT, SOL, ARB
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SOL: REX-OSPREY SOL spot ETF will begin trading on Wednesday.
Macro Economy
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Goldman Sachs has advanced its Fed rate cut prediction to September.
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Trump will meet with his trade team this week to determine national tariff rates.
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Trump: "Interest rates should be cut to 1%, and Powell and his committee are to blame."
Industry Highlights
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U.S. Treasury Secretary: Stablecoin legislation may be completed by mid-July.
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Kazakhstan's central bank governor: Plans to establish a national cryptocurrency reserve.
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Strategy increased its Bitcoin holdings by 4,980 BTC, valued at $106,801 per Bitcoin, totaling $531.9 million.
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Stablecoin issuer Circle has applied to establish a national trust bank in the U.S.
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Robinhood plans to expand its tokenized U.S. stocks offering to "thousands of tokens" by the end of the year; Robinhood EU will also launch tokenized stocks.
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Korea's IBK Industrial Bank and Shinhan Financial Group have applied for trademark registration for the KRW stablecoin.
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BitMine has announced a private fundraising round of $250 million to implement its Ethereum financial strategy.
This Week's Outlook
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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.
