BTCC Crypto Daily (7.2)｜Powell Signals Delayed Rate Cuts Again, “America Beautiful Act” Disappoints Crypto Industry
By:C, Fiona1.Overview
- Fed Chair Powell: Tariff uncertainty leads to delayed rate cuts
- US SEC approves Grayscale’s Digital Large Cap Fund conversion into ETF
- Bitcoin spot ETFs saw a net outflow of $342 million yesterday
2.Macro & Policy Outlook
Key Events Today
- ECB President Christine Lagarde to deliver a speech
- US EIA Crude Oil Inventories for the week ending June 27 (previous: -5.836 million barrels)
- US June ADP Employment Change (previous: 370,000)
Global Macro Developments
1.Fed Chair Powell: Tariff Uncertainty Delaying Rate Cuts
At a conference in Sintra, Portugal, Fed Chair Jerome Powell stated that if not for President Trump’s tariff policies, the Fed would have already begun cutting rates in 2025 and adopted a more accommodative monetary policy. He also noted that due to tariff impacts, nearly all inflation forecasts are being revised upward. Despite growing pressure from the U.S. administration, Powell emphasized that the Fed remains in a wait-and-see mode due to prevailing economic uncertainties.
2.Crypto Tax Breaks Omitted from “America Beautiful Act”
The U.S. Senate narrowly passed the “America Beautiful Act” led by President Trump, but key crypto tax incentive provisions were left out. Despite last-minute lobbying by pro-crypto lawmakers such as Wyoming Senator Cynthia Lummis, who aimed to include tax relief for miners, stakers, large holders, and everyday users, the amendments failed to enter the review process due to time constraints.
3.Arizona Governor Vetoes Bitcoin Reserve Bill HB2324
Arizona Governor Katie Hobbs has vetoed HB2324, a bill that would have established a digital asset reserve fund to hold digital assets acquired through criminal asset seizures.
4.Powell: Stablecoin Framework Needed
Fed Chair Powell expressed full support for Governor Bowman’s leverage ratio proposal and stressed the importance of developing a regulatory framework for stablecoins, noting that “progress is being made.”
Traditional Asset Correlation
- US stock indexes closed mixed: S&P 500 fell 0.11%, Nasdaq down 0.82%, Dow Jones rose 0.91%
- Spot gold edged down 0.03% to $3,337.79/oz
- WTI crude oil rose 0.05% to $65.50/barrel
3.Crypto Market Snapshot
1. Spot Performance of Major Cryptocurrencies
(as of July 2, 2025, 14:00 HKT)
2.Futures Capital Flow Analysis
According to Coinglass data on July 2, contracts for BTC, ETH, SOL, DOGE, HYPE, and SUI saw leading net outflows over the past 24 hours, indicating potential trading opportunities.
3. Bitcoin Liquidation Map
As per Coinglass, based on the current BTC price of $106,618:If BTC falls below $105,000, cumulative long liquidation pressure across major CEXs may reach $480 million；If BTC breaks above $108,000, cumulative short liquidation pressure could reach $1.316 billion.Traders are advised to manage leverage carefully to avoid triggering large-scale liquidations amid volatility.
4. Bitcoin Long/Short Ratio
As of 14:00 HKT on July 2, Coinglass data shows the global BTC long/short ratio at 1.8802, with 65.28% long and 34.72% short positions.
5. On-Chain Monitoring
Glassnode data shows Bitcoin’s exchange supply ratio has dropped to 14.5%, the lowest since August 2018. According to The Block, June spot trading volume on centralized exchanges was $1.07 trillion, down from $1.47 trillion in May. Since peaking at $2.94 trillion in December 2024, monthly volumes have declined steadily, marking a 63.6% drop from the recent high.
4.Blockchain Headlines
- SharpLink Gaming increases ETH holdings to 198,167 tokens
- Stablechain, a public chain backed by USDT, officially launched
- US SEC approves Grayscale’s Digital Large Cap Fund conversion into ETF
- Figma reveals holdings of nearly $70 million in Bitcoin ETFs, with additional $30 million BTC purchase approved
- DeFi Development to raise $100 million via convertible bonds to increase Solana holdings and share buybacks
- GMGN partners with xStocks to support US stock trading on Solana
- Ethereum Community Foundation established to enhance ETH value
- Webus secures $100 million credit line, potentially to build XRP reserves
- Limitless completes $4 million strategic funding round with participation from Coinbase Ventures
- Ethena (ENA) to unlock 40.63 million tokens today, 0.67% of circulating supply
- Bit Digital raises $162.9 million, possibly for ETH acquisition
- Bitcoin spot ETFs saw $342 million in net outflows yesterday
- Crypto market declines for second straight day, with AI sector leading losses at -4.48%
5.Institutional Insights · Daily Picks
Citi: Circle (CRCL) has strong potential to drive stablecoin adoption. Initiated with a “Buy/High Risk” rating and a $243 price target — 34% upside from current price.
Draper VC: Bitcoin’s growth is driven by optimism over Trump’s trade deals, anticipation of regulatory clarity, and expansion of Web3 apps built on Bitcoin. BTC could replace the dollar in 10 years.
Bitwise: Despite weak ETH and SOL performance, strong institutional demand and ETF flows support their $200K Bitcoin price target for 2025.
Greeks.live: On-chain BTC concentration around $105,000 has reached 15%, signaling a key positioning zone.
6.BTCC Exclusive Market Analysis
On July 2, Bitcoin staged a short-term rebound after recent declines, currently trading around $106,700, up roughly 0.5% on the day.On the 4-hour chart, BTC found support below $106,000 and recovered above the 5-day and 10-day moving averages, approaching the 20-day line — signaling a modest recovery in short-term momentum. MACD lines show slowing downside movement, with histogram turning slightly positive, indicating weakening bearish pressure and a potential shift toward a choppy uptrend.
Markets are closely watching ECB President Lagarde’s speech later today. The technical structure remains weak overall, requiring continued monitoring of whether buying volume supports the rebound and if mid-term moving averages form a support base.
Short-term traders are advised to watch the validity of the $106,000 support and whether a bullish MACD crossover emerges. Additionally, attention should be paid to upcoming European monetary policy decisions and their potential impact on risk assets.
Risk Disclaimer: The content above is for informational purposes only and does not constitute investment advice or trading recommendations. Markets are volatile; please exercise caution and manage your risk appropriately.
How to Trade Crypto on BTCC?
This brief instruction will assist you in registering for and trading on the BTCC exchange.
Step 1: Register an account
The first step is to hit the “Sign Up” button on the BTCC website or app. Your email address and a strong password are all you need. After completing that, look for a verification email in your inbox. To activate your account, click the link in the email.
Step 2: Finish the KYC
The Know Your Customer (KYC) procedure is the next step after your account is operational. The main goal of this stage is to maintain compliance and security. You must upload identification, such as a passport or driver’s license. You’ll receive a confirmation email as soon as your documents are validated, so don’t worry—it’s a quick process.
Step 3. Deposit Funds
After that, adding money to your account is simple. BTCC provides a range of payment options, such as credit cards and bank transfers. To get your money into your trading account, simply choose what works best for you, enter the amount, and then follow the instructions.
Fiat Deposit. Buy USDT using Visa/Mastercard (KYC required).
Crypto Deposit. Transfer crypto from another platform or wallet.
Step 4. Start Trading
If you wish to follow profitable traders, you might go for copy trading, futures, or spot trading. After choosing your order type and the cryptocurrency you wish to trade, press the buy or sell button. Managing your portfolio and keeping track of your trades is made simple by the user-friendly interface.
Look more for details: How to Trade Crypto Futures Contracts on BTCC
BTCC FAQs
Is BTCC safe?
Based on its track record since 2011, BTCC has established itself as a secure cryptocurrency exchange. There have been no reports of fraudulent activity involving user accounts or the platform’s infrastructure. By enforcing mandatory know-your-customer (KYC) and anti-money laundering (AML) procedures, the cryptocurrency trading platform gives consumers greater security. For operations like withdrawals, it also provides extra security features like two-factor authentication (2FA).
Is KYC Necessary for BTCC?
Indeed. Before using BTCC goods, users must finish the Know Your Customer (KYC) process. A facial recognition scan and legitimate identification documents must be submitted for this process. Usually, it is finished in a few minutes. This procedure has the benefit of strengthening the security of the exchange and satisfying legal requirements.
Because their accounts will have a lower daily withdrawal limit, those who do not finish their KYC are unable to make deposits. It should be noted that those who present a legitimate ID without a facial recognition scan will likewise have restricted withdrawal options.
Is There a Mobile App for BTCC?
Indeed. For users of iOS and Android, BTCC has a mobile app. The exchange’s website offers the mobile app for download. Since both the web version and the mobile app have the same features and capabilities, they are comparable.
Will I Have to Pay BTCC Trading Fees?
Indeed. BTCC levies a fee for trade, just like a lot of other centralised exchanges. Each user’s VIP level, which is unlocked according to their available money, determines the different costs. The BTCC website provides information on the charge rates.
Can I Access BTCC From the U.S?
You can, indeed. According to its website, BTCC has obtained a crypto license from the US Financial Crimes Enforcement Network (FinCEN), which enables the cryptocurrency exchange to provide its services to investors who are headquartered in the US.
According to BTCC’s User Agreement document, its goods are not allowed to be used in nations and organisations that have been sanctioned by the United States or other nations where it has a licence.
BTCC Guide:
How to Trade Crypto Futures Contracts on BTCC
BTCC Guide-How to Deposit Crypto on BTCC?
What is Crypto Futures Trading – Beginner’s Guide
What is Leverage in Cryptocurrency? How Can I Trade at 100X Leverage?
BTCC Review 2024: Best Crypto Futures Exchange
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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