BTCC Crypto Daily (7.9)｜Trump Pressures the Federal Reserve Again as Markets Remain in Range-Bound Consolidation

1.Overview

• Trump criticizes Powell for slow action on inflation
• SEC considers new fast-track approval framework for ETFs
• Ripple shareholder Linqto has filed for bankruptcy
• Trump’s Truth Social files S-1 to propose a crypto blue-chip ETF

2.Macro & Policy Outlook

Key Events Today

• U.S. EIA Crude Oil Inventories for the week of July 4 (previous: 3.845 million barrels)
• Bank of England releases Financial Policy Committee Meeting Minutes
• Deadline for U.S.-EU tariff negotiations previously extended to July 9
  

Global Macro Developments

1.Trump lashes out at Powell, defends dollar status, and reaffirms August tariff agenda
U.S. President Donald Trump once again sharply criticized Federal Reserve Chairman Jerome Powell, urging Congress to investigate him and calling for his immediate resignation. He accused Powell of acting “like a baby” and being too slow to combat inflation, pushing for immediate rate cuts. Trump also publicly voiced his preference for current Treasury Secretary Bessent. He emphasized the national security importance of the U.S. dollar, stating “losing the standard dollar is like losing a war.” On the new round of tariffs on Japan, South Korea, and others scheduled to take effect on August 1, he clarified it is not a delay but rather a strategic pressure move in U.S.-China trade negotiations, aimed at attracting more foreign capital back to the U.S.

2..SEC considers new fast-track ETF approval framework
The U.S. Securities and Exchange Commission (SEC) is considering a new framework to accelerate the approval process for ETFs, with a draft expected to be released this month. Multiple spot crypto ETFs may be approved in succession. The new framework could allow exchanges to list qualifying crypto ETFs directly based on a unified standard, bypassing the need for individual 19b-4 filings and the 75-day review cycle. Bloomberg ETF analyst James Seyffart predicts that the new rules may be implemented as early as September or October, potentially leading to a wave of crypto ETF approvals.

3.Trump pressures Korea on military costs, criticizes Putin, and teases new trade moves
During a Cabinet meeting at the White House, Trump stated that South Korea should bear more of the cost for its own military defense. He called the current U.S. military presence in Korea “grossly unfair to America” and emphasized that South Korea gains enormous economic benefits from it. Meanwhile, Trump announced new U.S. defensive arms support for Ukraine and said he is considering increased sanctions on Russia, expressing dissatisfaction with Putin. He also stated: “Tomorrow morning, we will release trade-related measures for at least seven countries.”

4.Fed Research Report: Economic uncertainty could bring back zero interest rate risk
A joint report by the New York Fed and the San Francisco Fed noted that although short-term rates are currently elevated, the possibility of Fed policy rates returning close to zero in the coming years remains. The report stated that the medium-to-long-term risk of the target rate falling back into an ultra-low range “has dropped to its lowest level in 15 years,” but in the context of growing economic uncertainty, the likelihood of a return to near-zero rates “remains significant.”

5.South Korea’s National Tax Service: residents paid in virtual assets from overseas companies must report as composite income
The Korean National Tax Service stated that residents receiving virtual assets from overseas companies as compensation for labor must report them as composite income. The agency previously clarified in a March ruling that if such income was not subject to withholding tax via a designated tax agent, the individual is responsible for final reporting and payment under Korea’s composite income tax rules.

Traditional Asset Correlation

 • Nasdaq +0.029%, S&P 500 -0.072%, Dow -0.37%
• Spot gold -0.45%, at $3,286.9/oz
• WTI crude (USOIL) -0.04%, at $68.1/barrel

3.Crypto Market Snapshot

1. Spot Performance of Major Cryptocurrencies

 (as of 14:00 HKT, July 9, 2025)

2.Futures Capital Flow Analysis

According to Coinglass data on July 9, BTC, SOL, XRP, FARTCOIN, WLD, LTC, and PNUT saw the largest net outflows in futures trading over the past 24 hours, potentially indicating trading opportunities.

3. Bitcoin Liquidation Map

As of July 9 (Coinglass), if BTC drops below $107,000 from the current price of $108,640, cumulative long liquidations across major CEXs could reach $1.122 billion. Conversely, a breakout above $110,000 would trigger up to $944 million in short liquidations. Leverage levels should be managed prudently to avoid large-scale forced liquidations amid volatility.

4. Bitcoin Long/Short Ratio

As of 14:00 HKT on July 9, Coinglass data shows the global BTC long/short ratio at 0.7578, with 43.11% long vs. 56.89% short positions.

5. On-Chain Monitoring

• According to Onchain Lens, a whale/institution sold 33,582 ETH at an average price of $2,512, totaling $85.38 million USDC, and subsequently deposited the USDC into Aave V3. The whale still holds 100,000 ETH staked via Lido, worth approximately $261.2 million at current prices.

• Onchain Lens also reported that a dormant whale address became active today and moved 9,000 BTC (approx. $977 million). In the past 24 hours, this whale has transferred a total of 17,283 BTC (approx. $1.88 billion).

4.Blockchain Headlines

• Bitcoin spot ETFs recorded net inflows of $80.08 million yesterday, fourth consecutive day of inflows
• Ethereum spot ETFs recorded net inflows of $46.63 million yesterday, third consecutive day of inflows
• Robinhood: Received numerous requests for tokenized stock issuance
• Movement (MOVE) to unlock 50 million tokens today, representing 1.92% of circulating supply
• Polkadot Foundation proposes issuing co-branded Visa card, vote ends July 9
• Bloomberg: Tether stores $8 billion in gold in secret Swiss vaults
• Ripple shareholder Linqto has filed for bankruptcy
• Tether makes strategic investment in blockchain forensics firm Crystal Intelligence
• Trump’s Truth Social has filed an S-1 form to propose a crypto blue-chip ETF
• Trader Eugene: BTC remains capped below key $110,000 resistance, expects breakout later this week
• ETH ICO whale sells another 1,000 ETH at cost of $0.31, has cashed out nearly $900 million over past month
• GMGN co-founder: From today, users affected by MEV despite activating protection can submit info for compensation
• GameSquare rose 5.84% after hours, plans phased establishment of $100 million ETH treasury
• Whale sells 1.59 million FARTCOIN to buy SPX, BONK, and PENGU
• GameSquare raises $8 million, plans to launch ETH fund management strategy
• Grayscale announces Q2 multi-asset fund allocation; highest weights in Uniswap (34.01%) and Aave (30.74%)

5.Institutional Insights · Daily Picks

• Goldman Sachs: With reduced tariff pressure and easing inflation, the Fed may cut rates earlier in September. Chief U.S. Economist David Mericle sees a slightly greater than 50% chance of a September rate cut. The terminal rate forecast has been lowered to 3.00%-3.25%, down from the prior 3.50%-3.75%.
• Greeks.live: Bitcoin bears are preparing to attack the $105,000 level, which is also the critical price level that bulls must defend.
• QCP Capital: Bitcoin volatility remains near historic lows. A breakout above $110,000 could trigger fresh buying interest. Some large institutions continue to accumulate September $130,000 call options.
• Matrixport: The market currently lacks fresh catalysts, and most retail investors appear to have entered “summer vacation mode” early.

6.BTCC Exclusive Market Analysis

On July 8, Bitcoin prices continued to range weakly between $107,800 and $108,600, currently hovering around $108,300. The 4-hour chart shows MA5, MA10, and MA20 converging, with price candles fluctuating tightly around these moving averages. The MACD indicator is in a bearish crossover, with diminishing red histogram momentum. Signal lines are lingering below the zero axis, indicating weak short-term bullish sentiment.

Kevin Warsh, a leading candidate for the next Fed Chair, publicly called for lower interest rates and dismissed inflation concerns from Trump’s tariffs—his stance is distinctly dovish and reinforces the market’s expectations for rate cuts within the year. Simultaneously, a joint report from the New York and San Francisco Feds highlighted that “the possibility of returning to near-zero interest rates in the medium to long term remains significant,” suggesting a policy shift from “holding steady” to “preemptive pivot” may be underway.

Overall, Bitcoin is currently in a convergence zone of “dovish policy bias, cautious market sentiment, and technical consolidation.” From a trading perspective, close attention should be paid to the effectiveness of the $108,000 support level. A breakdown may lead to a retest of the previous low around $106,500; conversely, a breakout above $109,000 may pave the way for a renewed push toward the $110,800 resistance zone. Investors are advised to closely monitor macro variables—such as developments in tariff negotiations—during this high-impact news window for their implications on risk assets.

Risk Disclaimer: The content above is for informational purposes only and does not constitute investment advice or trading guidance. Markets involve risks. Please conduct your own due diligence and manage risks carefully.

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