This week's crypto market outlook: Fed meeting minutes to be released, SpaceX to be included in Nasdaq 100 index.

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BlockBeats news. On July 6, this week’s crypto market will focus on the Federal Reserve meeting minutes, U.S. economic data, and multiple crypto industry events. The macro environment and on-chain developments may jointly affect the trend of digital assets.

In the macro sphere, the Federal Reserve will release the minutes of the June FOMC meeting at 12:00 a.m. Beijing time on July 9. The market hopes to use this to gauge the future interest rate path. In addition, the U.S. ISM Services PMI, consumer inflation expectations, initial jobless claims, and China’s June CPI data will also be released in sequence.

On the industry front, SpaceX will be officially added to the Nasdaq 100 index on July 7, becoming the fourth index constituent holding Bitcoin, following Tesla, Strategy, and Mercado Libre. Data shows that SpaceX currently holds approximately 18,712 BTC. After being included in the index, it is expected to benefit from passive allocation demand from index funds.

In addition, U.S. mining company American Bitcoin (ABTC) will resume trading after completing a 1:15 reverse stock split to avoid being delisted by Nasdaq; Berachain will complete the PoL Next upgrade on July 7.

In terms of on-chain governance, multiple governance proposal votes, including those for ENS DAO, Frax DAO, Nexus Mutual DAO, and Arbitrum DAO, will all be concluded by the end of this week.

Regarding token unlocks, Hyperliquid (HYPE) will unlock tokens representing 0.2% of circulating supply on July 6, worth approximately $30.39 million. RAIN will unlock about 7.64% of circulating supply on July 11, worth approximately $787 million. PUMP will unlock about 29.12% of circulating supply on July 12, worth approximately $130 million.

Apart from macro data, developments in the Russia-Ukraine situation and the continued weakening of the Japanese yen are also worth watching. Recently, Bitcoin has shown a strong negative correlation with the USD/JPY exchange rate; when the yen depreciates, it is often accompanied by Bitcoin prices strengthening.

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