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Bitcoin is enjoying some fresh relief as inflation data paints a slightly rosier picture than risk-asset traders feared.
If approved, new Solana and XRP exchange-traded funds could bring in as much as $13.6 billion in fresh investment capital during their first six to 12 months, according to JPMorgan analysts.The analysts posited that the “next wave of cryptocurrency” ETFs will not be as meaningful as those launched for bitcoin and ether given what they perceive to be “far lower investor interest.”
JPMorgan estimated that XRP and Solana ETFs could attract net inflows of over $15 billion.
The German analyst said that Dogecoin (DOGE), HBAR, XLM, and Cardano (ADA) are set to experience a parabolic rally.
Standard Chartered’s Geoff Kendrick cautioned that a breach of bitcoin’s $90,000 support level could spark spot ETF unwinds.He noted that this potential retracement might deepen to the low $80,000s, driven further by macroeconomic selling pressures.
Whale Boosts Position to 7,292 ETH Despite Unrealized Losses
BTC's 2025 trajectory is still optimistic, while the $100,000 mark is a significant resistance before an upside price resume
Bitcoin’s price initially surged following Donald Trump’s election victory, buoyed by the prospect of his pro-crypto policies.However, macro headwinds have seen markets cool since mid-December, leading analysts at K33 to ponder if Trump’s inauguration is no longer a sell-the-news event.
- 18:29Analysis: Nonfarm Payroll Report Unlikely to Alter Fed’s Wait-and-See StanceOn July 6, after non-farm payroll data showed that the U.S. economy added significantly more jobs than expected and the unemployment rate unexpectedly declined, gold experienced temporary pressure in the previous trading session. However, XS.com analyst Linh Tran stated in a report that the data does not indicate an overheated economy, but rather reflects a relatively stable pace of growth. Tran noted that this is not enough to force the Federal Reserve to reconsider its wait-and-see stance on monetary policy, which is also why gold prices did not fall further. (Jin10)
- 17:48No Breakthrough Achieved as US-EU Trade Talks Extend Into the WeekendAccording to a report by Jinse Finance, citing CCTV News, on the 4th local time, EU diplomats stated that EU negotiators failed to achieve a breakthrough in the US-EU trade talks, and the negotiations will continue through the weekend. EU negotiators indicated that if a broader trade agreement cannot be reached, they hope to ensure that the deadline for the US to postpone additional tariffs will be extended. It is reported that the scale of the EU's second round of countermeasures has been reduced from the initial 95 billion euros to 72 billion euros. EU diplomats noted that the US has threatened to impose a 17% tariff on EU agricultural exports.
- 17:13Iran warns Israel: Any further attacks will remove all "red lines"According to Jinse Finance, on the 4th local time, the spokesperson for Iran's Islamic Revolutionary Guard Corps, Naeini, issued a warning to Israel, stating that if Israel launches another attack, Iran will no longer observe any "red lines." He noted that Iran's swift response disrupted the enemy's plans, and that only by observing the objectives of the war can one determine who will ultimately win or lose.