Good morning, everyone. A new week is starting.

Over the weekend, the overall market hasn’t seen any major changes. BTC and ETH are basically still ranging, and the market is clearly in a wait-and-see mode. Everyone is waiting for the most important data this week—the US June CPI.

If CPI comes in below market expectations, it would be favorable for rate-cut expectations, and risk assets would likely get a boost; if the data is above expectations, it could suppress market sentiment again. So the CPI released late Tuesday is likely the key factor that truly determines the market’s direction this week.

In addition to CPI, there are two other things worth watching this week: first, Federal Reserve Chair Kevin Wos will testify before Congress, and the market will continue looking for signals about future monetary policy; second, the next US earnings season is officially underway, and tech stock performance may also influence crypto market sentiment to some extent.

On-chain, over these past two days, Robinhood Chain has suddenly seen a surge in popularity. A number of funds have started flowing in, and on-chain DEX trading volume has quickly expanded, even briefly moving into the top ranks on the network. In the short term, market funds still seem to like chasing new hotspots, but the durability of these themes remains to be seen, so it’s not advisable to blindly buy at higher prices.

On the news front, tensions between the US and Iran have not eased. The two sides’ ongoing military standoff around the Strait of Hormuz continues. The US military continues to strike Iran-related military targets, and Iran has also responded. Both sides have relatively hardline stances. At the same time, there is still disagreement among parties over whether the Strait of Hormuz will remain normally navigable, which has led international oil prices to rise again and has warmed market risk-avoidance sentiment. If the situation continues to escalate, it may still bring some disruption to global financial markets afterward, so it needs continued monitoring.

From a liquidity perspective, institutions remain relatively positive. In the past 5 trading days, crypto ETFs saw total net inflows of about $287 million, indicating that institutional funds have not shown any obvious retreat so far and the overall accumulation pace remains intact. This is still fairly favorable for the market.

Now let’s look at the charts:

Over the weekend, whether on the 4-hour or daily timeframe, BTC is still maintaining a sideways consolidation with relatively low volatility, suggesting that both bulls and bears are waiting to choose a direction after CPI lands. Therefore, I personally think today will most likely remain dominated by sideways ranging. For BTC, first watch the pressure around 65,000. Only if price breaks out with strong volume will the market be able to open up further upside space.

ETH has been relatively stronger recently, and its trend is clearly healthier than BTC’s. It’s currently trying to challenge the 1,850 area. If it can effectively hold above 1,850, you can continue to watch around 1,900. If it keeps failing to break through, in the short term you still need to guard against another pullback to confirm support.

SOL has also been maintaining a range-bound but relatively strong posture recently. The key level to watch is the resistance around 79. Whether it can break through will determine the upside space for the next phase.

Overall, before CPI is released, I believe the market will mainly keep consolidating and ranging. There’s no need to rush to chase pumps or panic-sell. Waiting patiently for the data to land, then trading in line with the direction the market shows will be more prudent.
$BTC ‌$ETH ‌$SOL ‌