Crypto Market Analysis: Bitcoin Hits $110,000 Mark, Ethereum Approaches Key Resistance Level

Market Observation

The uncertainty of U.S. tariff policy continues to impact the market. The current tariffs amount to a tax equivalent to 1.5% of GDP on U.S. importers, with annual tariff revenues exceeding $300 billion. The lagging effects of these tariffs on inflation are expected to manifest in the July CPI data. The Federal Reserve faces a dilemma: the one-year inflation expectation has fallen to 3%, but the pressure from components such as medical costs and college tuition remains significant, while the labor market shows conflicting signals.

The upcoming "Stablecoin Regulation" in Hong Kong has sparked market expectations for compliance dividends. The regulatory framework will cover core requirements such as anti-money laundering and reserve auditing, and the first batch of licenses planned to be issued within the year may reshape the competitive landscape of the industry. However, stablecoins still need to overcome multiple obstacles to disrupt traditional payment systems, including the distribution of benefits, cross-border regulatory cooperation, and risk stress testing under extreme market conditions.

The crypto market is undergoing a critical technical breakthrough and cycle validation phase. Bitcoin is facing fierce competition around the resistance level of $110,000; if it cannot break through this resistance level, it may fall back to $100,000; conversely, it is expected to challenge $120,000. In the long term, some analysts predict that the peak of this bull market could occur between mid-September and mid-October 2025.

Ethereum is approaching the triangle resistance level at 2630 USD after breaking through 2600 USD. It is recommended to pay attention to changes in trading volume to confirm the trend. The optimistic market sentiment has also driven up related stocks, such as GameSquare, Sharplink, and Bit Digital.

In the altcoin market, Vertex announced the migration of its DEX and the elimination of its native token, resulting in a significant drop in VRTX. Although the competition among tokens within the Solana ecosystem remains hot, related tokens have experienced a pullback. Notably, the $Lore token has gained traction on social media, driving its market value to surpass $2 million.

Key Data

• Bitcoin price: $108,513 (Year-to-date +15.99%)
• Ethereum Price: $2,600.10 (Year-to-date -22.06%)
• Fear and Greed Index: 67 (Greed)
• Market share: BTC 64.2%, ETH 9.3%
• Total liquidation amount in 24 hours: 121 million USD

ETF Flow

• Bitcoin ETF: +$80.08 million, net inflow for 4 consecutive days
• Ethereum ETF: +$46.6308 million, net inflow for 3 consecutive days

Today's Outlook

• The Federal Reserve will release the minutes of the monetary policy meeting.
• The United States will release the initial jobless claims data for the week ending July 5.

Market Highlights

• A well-known investment institution has cleared its COMP holdings.
• Tether holds $8 billion worth of gold in a secret vault in Switzerland.
• Global gold ETFs increased by $38 billion in the first half of the year, with an average daily trading volume reaching a half-year record.
• Multiple listed companies are increasing their investment in cryptocurrencies.
• The number of BONK holding addresses is about to exceed 1 million, at which point 1 trillion tokens will be burned.

The crypto market is at a critical moment, and investors need to closely monitor the impact of technical breakthroughs and macroeconomic factors while managing risks appropriately.