BlockBeats News, July 1st, HTX Researcher Chloe pointed out that as of July 1st, the 24-hour spot trading volume of the cryptocurrency market fell to about $1.04 trillion, a decrease of over 20% from early June, with Bitcoin maintaining a consolidation around $107,000. As the July 9th deadline for U.S. tariffs approaches, the market is concerned that the rise in import costs and the tightening of U.S. dollar liquidity will restrain risk appetite.
The "Pennsylvania Plan" proposed by Deutsche Bank has begun to attract attention, aiming to attract domestic support for government bonds through regulatory exemptions, tax incentives, and stablecoin legislation, and promote the popularization of USD stablecoins.
On-chain data shows that the demand momentum index has dropped to a historical low, with miner revenue declining and selling pressure rising; in terms of derivatives, open interest in Bitcoin options remains at a high of $90 billion, with a Put/Call ratio of 0.74. CME FedWatch shows that the expectation of a rate cut in September has risen to over 70%, with the macro policy direction still dominating market sentiment.
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