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After more than three months of immovable military sentence, Bitcoin has officially regained $ 100,000 milestones, showing the strength of rebirth. This recovery takes place after the price drops 32% from the historic peak in January. Motivated by positive macroeconomic factors – as Target tensions cool down and Fed Starting more comfortable In the policy tone (Dovish) – the breakthrough of Bitcoin in accordance with the general risk trend of the market and even surpassed the stock in the profit race.
It is worth noting that the cash flow into Bitcoin seems to be sustainable, expressed by work Actual capitalization Having reached a new record high and cash flow to ETF funds that exceeded the $ 920 million threshold in just two weeks. On-chain data also shows that the number of held BTC is losses has decreased sharplywith more than 3 million BTC back to the interest area. Combined with the increased transaction volume and Cash flow ETF Leading by organizations, Bitcoin is currently standing on a solid foundation. As long as the macro conditions are still supported, short -term reductions will quickly be absorbed, strengthen the expectation of increasing prices and paving the way for Bitcoin to the new height.
Meanwhile, the Federal Reserve (Fed) still Keep interest rates When concerned about inflation increases and the unemployment rate simultaneously escalate, highlighting the risk of the “stagflation” condition. Fed President Jerome Powell emphasizes uncertainty about economic prospects, saying the Fed needs more data before deciding on the next action. Although the market expects a batch Cut interest rates in JulyThe Fed still proved to be cautious, prioritizing price stability rather than a quick reaction to slow growth.
In the field of energy, crude oil price plunge Due to OPEC+ increased target output, but the price of gasoline in the US is still stubborn at a high level because of the narrow oil filtration capacity and the seasonal demand skyrocketing. This difference, comes from the knot at the refinery and processing profit margin (crack spreads) Increased, showing that retail fuel costs can only decrease if the supply problems are solved and the oil prices remain low.
American Trade Agreement Just being acclaimed recently also brings quite modest economic benefits. Although tariffs for some items such as British cars and US agricultural products have decreased, the agreement lacks comprehensive overall coverage and only brings small benefits, while larger trade challenges have not been resolved.
Add pressure to the economy, labor productivity in the US reduce For the first time in nearly three years, while the labor costs on each unit skyrocketed, affected by tariffs and trade disruption. Businesses are wrestle With high salary costs and reduced efficiency, this can lead to narrowing profit margin and shy investment – unless the productivity is recovered or the trade stress is relieved.
In the world of Crypto, new developments show the growing interest from the organization and the government, although there are still many legal and political barriers. New Hampshire made a breakthrough when becoming the first state in the US through law Allow investment in cryptocurrencies and precious metals. This move reflects the trend of integration of increased digital assets at state levels, amid the national policy debate continued.
Meanwhile, the legislate in Washington continued. The US Senate has not been able to pass a bill GENIUS Act With a voting rate of 48-49, and three senators did not vote and one move requested to reconsider. This shows the difficulty in achieving the bisexual consensus for key bills related to economy and innovation. In the private sector, BlackRock has promoted its role by meeting the US Securities and Exchange (SEC) committee to discuss the introduction of Staking features and improve the options trading rules for Crypto ETFs. The meeting marked an important development step in managing digital assets, with Blackrock supporting Staking in ETF -based Ethereum -based ETFs and expanding product functions. This also reflects the change in the SEC approach, as the agency increasingly proactively shapes digital property space.
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