Gate Daily | The Republican Party of the United States announces "Cryptocurrency Week" to review 3 cryptocurrency bills; Ripple opens European stablecoin channel

2025-07-04 07:52:36

Today (4) in the Asian afternoon, Bitcoin (BTC) has pulled back from last night's high, currently reported at around 108750 USD, with 53.94 million USD in liquidations over the past 24 hours, mainly from short orders. In the past 24 hours, there has been a net outflow in futures trading leading for Ethereum (ETH), Solana (SOL), Ripple (XRP), DOGE, and 1000PEPE, presenting trading opportunities.

Today's Outlook

The total number of oil rigs in the United States for the week ( is )( as of 0704), with a previous value of 432.
Eurozone May Producer Price Index ( year-on-year ), previous value was 0.7%
U.S. Treasury Secretary Becerra delivered a speech.
US President Trump delivered a speech.
U.S. Independence Day holiday market closure

Macroeconomic Events & Crypto Circle Hotspots

The leadership of the U.S. House of Representatives announced on Thursday that the week of July 14 will be designated as "Crypto Week," during which three important cryptocurrency bills will be focused on: the "GENIUS Stablecoin Act," the Digital Asset Market Clarity Act, and a bill regarding Central Bank Digital Currency (CBDC).
Cryptocurrency asset management firm Grayscale stated in an email on Thursday that the U.S. Securities and Exchange Commission (SEC) deciding to suspend trading of its Digital Large Cap Fund (GDLC) was "unexpected." The company indicated that the decision made by the regulator on Wednesday surprised industry observers, indicating that the regulatory environment is changing.
According to CME Fed Watch: The probability that the Federal Reserve will keep interest rates unchanged in July is 95.3%, while the probability of a 25 basis point rate cut is 4.7%. The probability that the Federal Reserve will keep interest rates unchanged in September is 33%, the cumulative probability of a 25 basis point rate cut is 64%, and the cumulative probability of a 50 basis point rate cut is 3%.

Market Trend

$BTC has pulled back from last night's high, currently reporting around 108750 USD, with 53.94 million USD liquidated in the past 24 hours, mainly from short orders.
The US stock market closed higher on Thursday, with the Dow Jones Industrial Average rising by 344.11 points, or 0.77%, to close at 44,828.53 points; the S&P 500 index rose by 51.94 points, or 0.83%, to close at 6,279.35 points; and the Nasdaq index rose by 207.97 points, or 1.02%, to close at 20,601.10 points.
In the Gate BTC/USDT liquidation map, based on the current 109,018.40 USDT, if it falls to around 108,700 USD, the cumulative long liquidation amount exceeds 110 million USD; if it rises to around 110,821 USD, the cumulative short liquidation amount exceeds 280 million USD. The liquidation amount for shorts is significantly higher than for longs, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Gate)

In the past 24 hours, contracts such as $ETH, $SOL, $XRP, $DOGE, and $1000PEPE have seen net outflows leading to trading opportunities.

(Source: Coinglass)

News Updates

LD Capital Founder: If ETH breaks through 3,000 USD, it will bring a real bull market to the industry;
The publicly listed company Addentax has signed a term sheet for $1.3 billion, intending to acquire 12,000 Bitcoins.
DeFi Development Corp disclosed a private placement transaction of $112.5 million to fund the purchase of SOL;
The U.S. Department of Justice cracked a $14.6 billion healthcare fraud case, with $245 million in cryptocurrency, cash, and other assets seized;
Trump Media, under Trump, submitted a mixed spot ETF application for BTC and ETH to the SEC;
Bloomberg: Cryptocurrency investments have increased the Trump family's wealth by at least $620 million in just a few months.
Robinhood only spent $5 to issue 213 types of US stock tokens on Arbitrum.
Vitalik: If decentralization is just a slogan, ETH will face risks;
Ripple has applied for a banking license in the United States following Circle, planning to offer more cryptocurrency services.
CITIC Securities: There is a significant divergence in the monetary policy stance among the 12 voting members of the current Federal Reserve.
BlackRock's Bitcoin ETF (IBIT) management fee revenue surpasses the S&P 500 index;
Ripple has reached a new agreement with Swiss banks, opening the European channel for the stablecoin war.

X KOL Selected Insights

Cryptoxiao (@cryptoxiao1127): "1. Do not store private keys or mnemonic phrases in the album and files of devices connected to the internet; 2. Try to use iOS devices that require camera and album permissions, and set up proper isolation; 3. Do not download potentially risky software out of convenience or curiosity."

Small player (@MetaHunter168): "No matter which track you are on, what you are fundamentally competing with is trading ability. Recently, I have been reflecting on trading, and I often see cases around me: relying on harvesting profits to accumulate deep stacks, but eventually losing everything in trading. Whether it's the secondary market, on-chain, or harvesting profits, they are all essentially trading. Harvesting profits also requires calculating odds and controlling maximum losses; it's just that the betting methods are different. As long as you are still at this poker table, your trading ability is being tested at any time. Many people mistakenly believe that the money earned from harvesting profits is a safety cushion; however, when your stack becomes deep, and your single bet size increases, while your trading logic has obvious flaws, the speed of your losses will be ten times faster than when you are making money. In the end, the money lost in a single bet may be more than what you have earned from harvesting profits in the past few years, especially in those traps where you are stuck in altcoins and do not stop-loss; almost everyone has fallen into those basic traps of trading. This is very similar to the logic of Texas Hold'em; in the early stages, you play at a 10/20 level, and after continuously accumulating stacks, you move up to 500/1000. If at this point your strategy still has obvious flaws, you will be in a state of being exploited for a long time without realizing it, and a single loss will exceed a year of winnings at lower levels. Even if you cannot make money through secondary trading, it is still very necessary to learn trading skills, as this can at least help you avoid the basic traps in trading. The trading logic should ideally be polished before you have accumulated a deep stack; otherwise, it is very easy to lose a lot of money in basic traps. It’s like that saying goes, it’s better to suffer losses early; after middle age, falling into big traps is unbearable."

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Last edited on 2025-07-04 07:56:31

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