BTC (1.34% | Current Price 119,079 USDT): BTC is currently in a high-level oscillation upward pattern. Since breaking through 112,000 USDT, trading volume has significantly increased, confirming the validity of the rise. The current price is testing the 119,000 USDT level; if it can effectively break through and stabilize above 119,500 USDT, it is expected to further challenge 120,000 USDT and higher levels. On July 11, the net inflow for BTC ETF reached 1.029 billion USD in a single day, with BlackRock's IBIT inflow at 953 million USD, indicating that institutional funds are continuously increasing their positions in Bitcoin, enhancing their allocation weight for this asset.
ETH (1.11% | Current Price 2,979 USDT): ETH is currently in a high-level oscillation consolidation phase, with an overall strong trend. Recent strong support is near 2,920 USDT, while the main resistance is at the 3,000 USDT level. The current price is consolidating near the key resistance level, with short-term bullish and bearish forces in a stalemate. Future attention should be paid to the breakthrough of 3,000 USDT and whether trading volume increases accordingly. On July 11, the net inflow for ETH ETF was 204 million USD in a single day, with BlackRock's ETHA inflow at 137 million USD and Fidelity's FETH inflow at 12 million USD.
Altcoins: Some mainstream altcoins have seen slight pullbacks, but the long-short ratio and funding rates still lean towards bullish, suggesting continued oscillation upward in the short term. The Fear and Greed Index reported 74 today, remaining in the greed zone, indicating relatively positive market sentiment but cautioning against the risk of overheating.
Macro: On July 11, the S&P 500 index fell by 0.33%, closing at 6,259.75 points; the Dow Jones index dropped by 0.63%, closing at 44,371.51 points; the Nasdaq index decreased by 0.22%, closing at 20,585.53 points. As of July 14, 10:30 AM (UTC+8), the spot price of gold is temporarily reported at 3,359 USD per ounce, with a 24-hour increase of 0.1%.
According to Gate's market data, the current price of the HBRA token is 0.253 USD, having risen approximately 27.13% in 24 hours. HBAR is the native cryptocurrency of the Hedera network, used for paying transaction fees and securing network safety. Hedera is a public network that employs hashgraph technology, derived from traditional blockchain, offering higher transaction throughput and lower latency.
Hedera has recently welcomed multiple positive developments: its council member Australian Payments Plus (AP+) has been selected to participate in the Reserve Bank of Australia's tokenization pilot project, further strengthening Hedera's positioning in the payment and financial infrastructure sector. Additionally, Hedera has partnered with NVIDIA, SCAN UK, and Accenture's public sector to promote trusted computing and compliant applications for pre-certified sovereign AI systems through groundbreaking chip governance technology. Driven by positive news, the price of HBAR has steadily risen from around 0.17 USDT, breaking through the key resistance level of 0.25 USDT, and continues to rise with increasing volume, indicating accelerated capital inflow and significantly enhanced market buying interest. The current price is further testing higher levels, maintaining a strong pattern in the short term.
According to Gate's market data, the current price of the XLM token is 0.504 USD, having risen 22.11% in 24 hours. XLM, short for Stellar Lumens, is the native cryptocurrency of the Stellar network and a decentralized open-source payment network. Stellar is a decentralized payment network based on blockchain technology, aiming to create an open financial system that provides low-cost financial services to low-income populations.
The rise in XLM's price is mainly driven by expectations of network upgrades. The recently released Stellar Core v23.0.0rc2 version brings faster transaction speeds, better support for NFTs and stablecoins, and new asset liquidity tracking features. It also introduces a system for parallel execution of Soroban smart contracts, significantly enhancing network efficiency. This upgrade is expected to be officially voted on the mainnet on August 14, and the market has strong expectations for it. Consequently, XLM has shown strong upward momentum, with prices continuously breaking new highs accompanied by increased trading volume, rising steadily from around 0.29 USDT, currently surpassing the 0.50 USDT level and reaching a high of 0.50598 USDT.
According to Gate's market data, the current price of the ALGO token is 0.285 USD, having risen approximately 28.75% in 24 hours. Algorand (ALGO) is a blockchain-based cryptocurrency platform designed to achieve speed, security, and decentralization, addressing the well-known "impossible triangle" problem in the blockchain space. The Algorand platform supports smart contracts, and its consensus mechanism is based on Pure Proof-of-Stake (PPoS). The native cryptocurrency ALGO is used for paying transaction fees, participating in governance, and staking.
Benefiting from the long-term advantages of the RWA market and its own strong and scalable network, ALGO's price has steadily risen from around 0.19 USDT, currently breaking through the 0.28 USDT level and reaching a high of 0.28823 USDT. The market has broken through multiple key resistance areas and closed above the trend line, especially with significant volume accompanying the breakthrough of key levels, indicating active buying power and effective support for upward momentum. The market is also realizing its potential: with 100% uptime, transaction speeds exceeding 10,000 per second, and a leading public chain ecosystem based on RWA TVL, a solid foundation is laid for future increases.
As the crypto week approaches, market sentiment continues to heat up, with major crypto sectors generally rising. BTC has broken through 120,000 USD, setting a new historical high; ETH is maintaining a narrow oscillation around 3,000 USD. Notably, Google Trends data shows that despite Bitcoin's price hitting new highs, public search interest is significantly lower than during the bull market peaks of 2017 and 2021.
Unlike previous cycles, this round of Bitcoin's rise is not driven by retail sentiment or network heat, but rather by deeper macroeconomic and policy changes: the increase in the US debt ceiling by 5 trillion USD and ongoing massive deficit spending, along with the upcoming release of a crypto policy report by the Trump working group, are collectively driving the demand for capital allocation to Bitcoin. Data shows that seasonal factors in July, bullish options buying, and a short squeeze have also contributed to further price increases.
This week, the US Congress plans to vote on several important bills related to cryptocurrency, including the GENIUS Act aimed at encouraging innovation, the CLARITY Act focusing on regulatory clarity, and the Anti-CBDC Surveillance State Act, which limits the monitoring capabilities of central bank digital currencies. These bills are expected to have a profound impact on the US cryptocurrency industry in the future. However, the specific details of the bills have not yet been fully disclosed, and there may be a time lag from voting to the final implementation of the legislation.
The passage of these bills could have significant implications for the cryptocurrency industry. The GENIUS Act and CLARITY Act reflect the US's attempt to provide a more stable framework for innovation and compliance in the industry; while the advancement of the Anti-CBDC Surveillance State Act responds to market concerns about excessive centralization and privacy risks. Overall, although the market remains cautious in the short term, if the legislation is successfully implemented, it will provide clearer compliance pathways for businesses and investors, and is expected to attract more institutional capital into the market, driving the industry towards a more mature and regulated direction.
Pump.fun's official PUMP token completed its presale in 12 minutes, attracting 23,959 wallets that completed KYC, with 10,145 addresses successfully purchasing, averaging a subscription amount of 44,209 USD. 89.7% of the presale funds were completed directly through the official website, with only about 10.3% coming from centralized exchanges (CEX). In the official presale, there were 202 wallet addresses with subscription amounts exceeding 1 million USD; another 138 addresses subscribed for amounts between 500,000 and 1 million USD, 445 addresses between 100,000 and 500,000 USD, and 1,030 addresses between 10,000 and 100,000 USD, while the largest number of users, totaling 5,758, subscribed for amounts below 1,000 USD.
Pump.fun successfully raised over 500 million USD in this public sale, making it the third largest ICO in crypto history, showcasing its strong appeal and capital attraction as a leader in the Meme sector. Notably, the funds are highly concentrated: the top 340 addresses collectively purchased over 300 million USD, accounting for about 60% of the total fundraising amount, with an average investment of 44,000 USD per person. This structure indicates that a large amount of high-net-worth and institutional-level capital is gathered behind the project, providing strong support for the initial price. However, excessive concentration may also bring volatility risks in the future.
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