Crypto Market

BTC and ETH Market Insight

Interest rates remained unchanged, but Fed Chair Powell's shifted tone suggested openness to rate cuts in September, with markets pricing in 75% probability. The unemployment rate edged up to 4.2% from 4.1%, meeting expectations. Markets faced potential recession fears as crypto and stocks declined, with BTC dropping 4.5% to $113,500 amid new Trump tariff announcements. Ethereum spot ETFs recorded their 20th consecutive day of net inflows, while ETF holdings now represent 5% of total ETH supply. The Strategic ETH Reserve holdings surpassed $10 billion, with 64 entities controlling 2.27% of supply.

Upcoming Macro Calendar - Source: Trading Economics

Options Market

U.S. stock markets experienced a sharp decline as disappointing job data, coupled with fears of rising inflation and broad trade tariffs, sparked widespread investor panic. Crypto markets mirrored this downturn on Friday, with BTC and ETH both ending the week in negative territory. However, realized volatility trended lower throughout the week—BTC’s 7-day realized volatility remained subdued below 30, while ETH’s approached 50 before slightly increasing during the dip. Implied volatility for BTC dipped slightly at the front end, whereas it rose for ETH. Meanwhile, skew shifted toward puts in the near term, reflecting heightened demand for downside protection amid concerns of a continued downturn.

Altcoins and Blockchain News

• SEC launches "Project Crypto" plan, covering tokenization support and more.

• Hong Kong's "Stablecoin Regulation Bill" officially takes effect on 1st Aug.

• CBOE submits generic listing standards for crypto asset ETPs, with SOL and XRP ETPs expected in Q4.

• CoinShares: Digital asset investment products recorded $1.9 billion in inflows last week, with Ethereum attracting $1.59 billion.

• Anchorage Digital accumulated over $1.19 billion in Bitcoin in 9 hours.

• Multiple addresses accumulated 648,000 ETH, valued at $2.44 billion, in half a month.

• Ethereum PoS Network Exit Queue Increases to 699,800, Withdrawal Delayed Over 12 Days

• Macro Outlook for Next Week: Fed Decision + Non-Farm Payrolls "Super Week" Arrives.

• Kaia Native USDT Lands in South Korean Tourist Spots, Tourists Can Exchange Cash at Stablecoin ATMs

• Coinbase Q2 total revenue decreased by 26% QoQ, shares fell 10.46% pre-market.

   

Macro

The major indices posted losses for the week: the DJIA lost 2.9%, the S&P 500 -2.4%, and the Nasdaq -2.2%. Chinese stocks also closed lower for the week: the Shanghai Composite Index lost 0.94%, the CSI 300 lost 1.75% and the Hang Seng index lost 3.47%.