Trump Sends Trade Letter to Multiple Countries

On July 10th, the U.S. Securities and Exchange Commission (SEC) postponed the approval of BlackRock's Ethereum ETF that has a physical redemption mechanism.

On July 10th, based on HTX market data, Bitcoin surged past $110,000, witnessing a 24-hour price fluctuation of 1.11%.

On July 10th, the U.S. Securities and Exchange Commission (SEC) verified the receipt of Bitwise's amendment regarding in-kind redemptions for Bitcoin and Ethereum spot ETFs.

July 10th: The minutes of the June meeting of the Federal Reserve that were recently released showed that the participants noticed the stability of long-term inflation expectations and emphasized the significance of maintaining stability. Several participants remarked that short-term inflation expectations had increased. This development could spill over into long-term expectations or have an impact on price and wage setting in the near term. While a few participants pointed out that tariffs would cause a one-time price increase without influencing long-term inflation expectations, most participants indicated that tariffs could have a more lasting effect on inflation. Some participants emphasized that this sustained effect could also affect inflation expectations. Some participants noted that since inflation has been rising for some time, if inflation continues to rise, the risk of losing control of long-term inflation expectations would increase. (Jin10)

On July 10th, in the "Fed Heard" column, Nick Timiraos pointed out that the minutes of the Fed meeting disclosed some things that we were already aware of. Officials were divided into three main camps regarding the interest rate path: - Cut rates later this year but rule out July (the mainstream camp); - Keep rates steady throughout the year; - Advocate for immediate action at the next meeting (the minutes show that only "a few" participants support this, suggesting Fed Governors Waller and Bowman). (FX168)

On July 10th, based on HTX market data, Ethereum has exceeded $2700, and the 24-hour percentage change is 3.46%.