The market awaits CPI and encryption legislation week, Bitcoin challenges $135,000

Recently, multiple factors in the market are intertwined, and investors are closely monitoring this week's U.S. CPI data and congressional cryptocurrency legislative trends. Bitcoin's price has exceeded $121,500, setting a new historical high. Analysts believe that the next target range is between $135,000 and $140,000, with support levels at $114,000 to $115,000. Solana is also performing strongly, with a 30-day increase of 12.87%, and is expected to challenge the key level of $185.

US policy changes trigger market fluctuations. Trump announced new tariffs on Mexico and the EU, leading to a decline in the stock market and a rise in risk-averse sentiment. This move also adds uncertainty to the Federal Reserve's monetary policy, with market expectations for a rate cut in September dropping to around 70%. The CPI data for June, to be released this week, will serve as an important reference for policy direction.

Hong Kong is steadily advancing its digital asset strategy. Experts point out that Hong Kong has achieved a balance between innovation and stability by optimizing laws, supporting startups, and strengthening international cooperation. Although there are short-term challenges, in the long run, ETFs and commodity tokenization are expected to attract capital inflows.

A new hotspot has emerged in the NFT market. Pudgy Penguins has sparked a "profile picture craze," with its floor price rising by 49.4% within a week, leading in trading volume. The altcoin and Meme coin markets continue to exhibit high speculation.

Key data shows that the price of Bitcoin is $121,974, with a year-to-date increase of 30.75%. The price of Ethereum is $3,048.51, with a year-to-date decrease of 8.76%. The market fear-greed index is 75, indicating a greedy state. The market shares of Bitcoin and Ethereum are 63.6% and 9.7%, respectively. In the past 24 hours, approximately 119,500 people have been liquidated globally, with a total amount of $684 million.

This week's important events include the U.S. Congress reviewing several encryption currency bills, as well as the release of the June CPI data. In addition, Starknet will unlock approximately 127 million tokens on July 15, worth about 17.6 million U.S. dollars.

Recently, among the top 500 tokens by market capitalization, Ski Mask Dog, Usual, and Pudgy Penguins had the highest increases, rising by 57.79%, 46.86%, and 31.60%, respectively.

Other hotspots include: several tokens are about to undergo large unlocks; Lianlian Digital plans to raise approximately HKD 394 million for blockchain technology applications; SharpLink Gaming has once again made a large purchase of ETH; the Czech central bank has included a certain trading platform in its investment portfolio; listed company Davis Commodities is considering allocating 5-10% of its funds to SOL, among others.