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Ether has struggled to break out of its long-standing trading range, with hedge fund short positioning playing a key role in capping its price movement, according to analysts.Despite strong trading volume and recent surges in activity, structural weaknesses and competition from alternative networks have left ether vulnerable to ongoing bearish sentiment, an analyst said.
Federal Reserve Chair Powell’s testimony on February 11 will provide critical insights into monetary policy, potentially affecting market sentiment. The U.S. Consumer Price Index (CPI) report on February 12 will influence expectations regarding interest rate cuts and crypto price movements. Bitcoin remains in a narrow range between $95,000 and $100,000 as traders await economic data that could trigger significant volatility.
Quick Take Commodity Futures Trading Commission (CFTC) Commissioner Summer K. Mersinger said that election event contracts on platforms like Kalshi are “here to stay.” Mersinger’s comments come after the CFTC clashed with Kalshi over whether the platform’s contracts over election results could lead to political interference. In September 2024, a federal judge ruled that the CFTC overstepped its authority in attempting to block Kalshi from listing these contracts.
Quick Take Donald Trump-backed World Liberty Financial is forming a strategic token reserve meant to “to bolster leading projects like Bitcoin, Ethereum and other cryptocurrencies that are at the forefront of reshaping global finance.” The DeFi platform’s reserve, dubbed Macro Strategy, will serve to help World Liberty Financial diversify its holdings, according to an announcement. World Liberty Financial also said it is “engaging” with financial institutions in the hopes they will contribute tokenized ass
Quick Take U.S. President Donald Trump plans to tap Brian Quintenz, head of global policy at a16z crypto, to chair the agency. Quintenz served as a commissioner of the CFTC from 2017 to 2021.
- 12:03If Bitcoin Falls Below $117,000, Total Long Liquidations on Major CEXs Will Reach $1.455 BillionBlockBeats News, July 23 — According to data from Coinglass, if Bitcoin falls below $117,000, the cumulative long liquidation intensity on major CEXs will reach $1.455 billion. Conversely, if Bitcoin rebounds and breaks above $119,000, the cumulative short liquidation intensity on major CEXs will be only $181 million. BlockBeats note: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart actually represent the relative significance, or intensity, of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the extent to which the underlying asset’s price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that level, there will be a stronger reaction due to a wave of liquidity.
- 12:03EU prepares €100 billion 'no-deal' plan to counter 30% US tariffsBlockBeats News, July 23 — According to foreign media reports, if negotiations break down and U.S. President Trump follows through on his threat to impose a 30% tariff on most EU exports after August 1, the European Union plans to swiftly impose a 30% tariff on approximately €100 billion (about $117 billion) worth of U.S. goods. A spokesperson for the European Commission stated on Wednesday that, as part of the first wave of countermeasures, the EU will merge the already approved tariff list targeting €21 billion of U.S. goods with a previously proposed list covering an additional €72 billion of U.S. products into a single comprehensive package. According to sources familiar with the matter, U.S. exports—including Boeing aircraft, American-made cars, and industrial products such as bourbon whiskey—will face tariffs matching the 30% rate threatened by Trump. These sources indicated that the tariffs are set to take effect next month, provided negotiations collapse and the U.S. implements its tariff measures after the August deadline. A government official, speaking on condition of anonymity, said that in the absence of an agreement, Berlin is even willing to support the activation of the EU’s “Anti-Coercion Instrument” (ACI). This tool would only be deployed if no deal can be reached. (Jin10)
- 12:02Bitget Launches Spot Trading Event, Unlocking 50,000 BGB AirdropBlockBeats News, July 23 — Bitget has launched the first Trading Club Championship. The competition covers spot trading, spot swap, spot margin, and small-amount exchange transactions. During the event, users who reach the specified daily cumulative purchase amounts will earn corresponding points, with no upper limit on points earned. Eligible users will have the chance to unlock an airdrop reward of 24,500 BGB tokens. Additionally, the user ranked first in cumulative purchase amount will receive a reward of 500 BGB, while users ranked 2nd to 501st will unlock a prize pool of 25,000 BGB. The trading scope is limited to the top five cryptocurrencies: BTC, ETH, BGB, SOL, and DOGE. The transaction amounts of the top 501 users will be published via an official form at 11:00 (UTC+8) on the day following each event day. The event will run from July 24, 00:00:00 (UTC+8) to July 30, 23:59:59 (UTC+8).