Orange Evening Interpretation 7.1 The current macro environment is like a TV play. When you think the market is stable, there will always be something wrong. It's just a few days since the conflict between Iraq and Israel ended. Everyone thinks it's time to rush to a new high this time, but Trump and Musk are torn again You should know that before the Israel Iran conflict, the Big Cake once stood above 11w, and the background at that time was the Sichuan Malaysia Century Reconciliation. At that time, Lao Ma publicly apologized on Twitter, and the two of them hugged and shook hands in the media. The market even interpreted them as publicly performing a scene to promote Tesla's robotaxi, and then the Big Cake broke through 11w. If it weren't for Israel's fire, everyone would have expected a new high. And this time it seems like the plot has come to an end, because now is a critical moment when the Great Beauty Act is about to pass. Old Ma may have recalled the unpleasantness of that time again, or he may have started taking drugs again, directly attacking on Twitter, saying that this bill will destroy millions of jobs and seriously damage the future industrial development of the United States. Trump immediately replied that Skke was a great man, but his remarks were inappropriate. And today Musk continued to attack, this time directly talking about the New Party. He said that if the bill was passed, he would form the American Party to protest the next day, and he also publicly stated on Twitter that he would stand against those lawmakers who supported the bill on midterm election day. This really angered Old Chuan, who was simply rebelling and inciting internal discord. So he immediately counterattacked, saying that the Old Horse Company had already gone bankrupt without subsidies and considering canceling the subsidies to Old Horse and letting Old Horse roll back to South Africa. Musk's response was also very firm, saying to stop now. Although the power of this gap spraying is not as exaggerated as last time, it also caused Tesla's late trading stock to drop by 7% instantly. It feels that if this event continues to ferment, the US stock market may have to make up for another drop tonight. After all, the first time the two argued, many people reconciled in the middle, and this time they argued again, it shows that the conflict cannot be resolved to a certain extent. We may really see the establishment of a third political party in the United States. At that time, the United States will definitely be even more chaotic, and many funds will choose to wait and seek safety. Of course, there was also good news last night, especially in the tariff negotiations. US Treasury Secretary Vicente stated that a series of trade agreements are expected to be signed in the week before July 9th, indicating that negotiations are accelerating. In addition, the EU relaxed its stance last night, saying that it is willing to accept the US "benchmark tariffs" but seek exemptions for key industries. Canada has also made concessions by canceling the digital services tax, and the US and Canada will resume trade negotiations with the aim of reaching an agreement before July 21st. South Korea's top priority is reportedly to obtain tariff extension permits. On the Chinese side, there is basically consensus on the framework. What was more surprising was that Japan was so tough and directly challenged the United States, saying that Trump was unwilling to impose a 25% tariff on Japanese cars for importing American rice. In addition, Trump once again attacked Powell. This time, he increased the scope of attack, directly scolded the Board of the Federal Reserve and listed the global exchange rates to the Federal Reserve. It is estimated that Powell's speech tonight will be under pressure again. There is really nothing else to play with in the market now except for concepts related to cryptocurrency, stock coins, stablecoins, etc. The trend of shanzhai in the market is like shit. If there is a slight pullback on the shore, shanzhai will immediately die for you. The liquidity is seriously insufficient, and the current market liquidity cannot even support the amount of alpha and Binance spot goods. Alpha's recent projects have been mostly in vain, and there is really no return. Recently, major CEX should have realized that something is wrong and started to take them down crazily. Binance took down alpha bsw kmd lever lto, and Okx immediately took down X BSV GOG DIA BONE OXT. Perhaps this is just the beginning, as I have always said. The, Most of the old knockoffs on CEX have retired from the environment, and even the project teams have been disbanded. However, there is no regulation in the cryptocurrency market, so the exchange is still supporting them. But in reality, such projects are no longer viable. Even if funds overflow from institutions into the cryptocurrency market in the future, it is not these projects that can enjoy the dividends of knockoff cattle. It is those projects that have a complete and reasonable business model from an institutional perspective that can emerge, such as Hype Uni aave Jump. The protocol can achieve self profitability and can be integrated with RWA AI and other sectors. In addition, there are those who can enjoy the dividends of cryptocurrency or stocks. For example, the stock coin project launched by xstock is issued on the Sol chain, Robin Wood and ARB have collaborated to release L2, which supports stock and contract trading. Link continues to serve as a price discovery machine for different platforms, just like DeFi Summer did back then, becoming a bridge between cryptocurrency and stock; Or for projects related to stable currency, the latest Pennsylvania plan launched by US Treasury Secretary Vincent Besant is to use stable currency to transfer the global US treasury bond bonds to the US mainland, and then convert the bonds. If you want to resolve 37w treasury bond, the stable currency market is no small matter. Similarly, RWA track is also a huge market of tens of billions of dollars. So we don't need to look at too many projects this round, just focus on the leaders of these tracks I mentioned. By this time next year, you will find that most of the copycats on CEX can't win.