If Bitcoin falls below $104,000, the mainstream CEX long liquidation volume will reach $1.137 billion

On July 2nd, following the release of the ADP data, traders enhanced their wagers on at least two rate cuts by the Fed prior to the end of 2025. The probability of a rate cut in July, as depicted by the Fed Funds Futures, rose from approximately 20% prior to the data release to 27.4%.

On July 2nd, the analyst Adam Button from the financial website Forexlive stated that the June ADP employment figure was the poorest reading since March 2023. This occurs at a difficult time prior to the release of non-farm payroll data tomorrow. Another perspective is that household-based data is indicating a soft market. Currently, the market has fully priced in the possibility of a rate cut in September, with a 22% probability of a 50-basis-point cut. (FXStreet)

On July 2nd, the digital payment field is experiencing a transformation. The once-dominant payment giants Visa and Mastercard are now facing a strong challenge from stablecoins. The emergence of stablecoins not only provides the advantage of lower costs and faster settlements but may also redefine the global payment ecosystem. Without relying on traditional banks and payment networks, stablecoins have significantly reduced merchants' payment costs, especially in cross-border payments, highlighting their efficiency and cost advantages. The market capitalization of stablecoins has reached $253 billion, attracting tech companies, retailers, and others to join in, driving innovation and competition in the payment field. The rapid development of stablecoins in areas such as DeFi (Decentralized Finance) and cross-chain interoperability has made them a core tool for digital payments. Furthermore, corporations and institutional investors have begun using stablecoins for large-scale cross-bor

On July 2nd: The US ADP Employment Change for June witnessed a decline of 33,000, which is the largest drop since March 2023. The anticipated value was 95,000, and the previous value was 37,000. (FXStreet)

On July 2nd, based on the monitoring of OnChain Lens, 3 addresses that are likely to be associated with the same entity withdrew 2,797 ETH from OKX 1 hour ago, with a value of $6.86 million. One of the wallets transferred 797 ETH for staking, which is worth $1.95 million.

On July 2nd, the Greek.Live analyst Adam mentioned that there is a divergent view within the community regarding the market direction. Some traders are cautiously optimistic about the Bitcoin V-shaped reversal trend and anticipate a potential new high. Nevertheless, some traders are worried about the risk of a false breakout. Regarding Ethereum, traders generally think that if it fails to break through after 8 weeks of oscillation, $1800 will become an important downside target.