As we enter the first week of the second half of the year, the cryptocurrency market shows positive signs. Bitcoin and Ethereum have both seen slight increases, pushing the overall market capitalization close to 3.44 trillion. This minor rebound has injected a bit of optimism into the market.

However, the market faces many uncertainties this week. The U.S. House of Representatives has just approved a $3.4 trillion bill, which is considered favorable to businesses, thus boosting market optimism. At the same time, we must closely monitor the upcoming energy data, central bank meeting minutes, tariff deadlines, and U.S. Treasury auctions, as these important events may trigger market fluctuations.

July 9 will be a critical moment. This is the deadline for the United States' reciprocal tariff 'grace period'. If a decision is made to extend this deadline, it could trigger a significant shift in market sentiment. Conversely, if the new tariffs are imposed as planned, it may adversely affect risk assets.

Currently, Bitcoin is attempting to break through the $109,500 mark, just 2.2% away from its all-time high. Ethereum is also making a push towards the $2,600 level. In the short term, the direction of the market largely depends on the specific implementation of U.S. policies. Given the current situation, we can expect that market volatility may intensify in the coming period.

In this complex and ever-changing market environment, investors need to remain vigilant, closely monitor various policy trends and market indicators, in order to timely adjust their investment strategies. At the same time, they must also recognize the high-risk nature of the cryptocurrency market, make cautious decisions, and allocate assets wisely.