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According to ChainCatcher, SoSoValue data shows that after a period of continuous gains, most sectors in the crypto market have experienced a general pullback. Specifically, the SocialFi sector fell by 4.02% over the past 24 hours, with Toncoin (TON) down 4.21% and Chiliz (CHZ) down 3.48%. In addition, Bitcoin (BTC) dropped 1.40%, though it briefly surpassed $109,000 during intraday trading before retreating to $107,000. Ethereum (ETH) declined by 1.69%, pulling back to around $2,500. In other sectors, the PayFi sector fell 0.86% in 24 hours, with Monero (XMR) and Telcoin (TEL) down 3.01% and 3.32% respectively. The CeFi sector dropped 1.00%, with Hyperliquid (HYPE) down 5.07%. The Layer1 sector declined 1.66%, with Sui (SUI) and Avalanche (AVAX) down 3.04% and 3.52% respectively. The DeFi sector fell 2.07%, with Aave (AAVE) and Ondo Finance (ONDO) down 3.05% and 3.20% respectively. The Layer2 sector dropped 2.58%, with Celestia (TIA) down 5.28%. The Meme sector fell 3.44%, with SPX6900 (SPX) and Fartcoin (FARTCOIN) down 8.32% and 8.63% respectively. Indices reflecting the historical performance of these sectors show that the ssiSocialFi, ssiNFT, and ssiAI indices fell by 4.18%, 4.07%, and 3.91% respectively over the past 24 hours.

According to a report by Jinse Finance, Morgan Stanley economists state that U.S. trade negotiations are moving toward a tactical escalation. The bank's report notes that if the latest tariffs proposed in letters to trade partners by the Trump administration take effect, the weighted average tariff in Asia will rise to 27%. However, Trump has indicated that the U.S. is close to reaching an agreement with India. Morgan Stanley believes this suggests that most major Asian economies will be able to reach agreements before the August 1 deadline. However, Japan and South Korea may not be able to resolve key issues through negotiations. According to Morgan Stanley, these issues include Japan's auto tariffs and agricultural products, as well as South Korea's requests for tariff reductions on automobiles and steel. (Jin10)