The market awaits CPI and encryption legislation, Bitcoin and Solana continue to rise

Recently, the global financial market's focus has been on the upcoming CPI data to be released by the United States and the legislative trends regarding encryption currency in Congress. The news of Trump announcing tariffs on products from Mexico and the EU has triggered market fluctuations, driving up the prices of safe-haven assets. Analysts generally believe that this policy shift has increased the uncertainty of the economic outlook and may influence the Federal Reserve's monetary policy decisions.

This week, the U.S. Congress will review multiple cryptocurrency-related bills, which may have a significant impact on the digital asset market. At the same time, Hong Kong is steadily advancing its stablecoin and asset tokenization strategies by optimizing laws, supporting startups, and other measures to balance innovation and regulation.

The price of Bitcoin has broken through the $120,000 mark, setting a new historical high. Analysts believe that if it can break through the $121,500 resistance level, it is expected to further reach the $135,000 to $140,000 range. Solana has risen by 12.87% over the past 30 days, and analysts expect it to challenge the $185 to $300 range.

The NFT market has been active recently, with the Pudgy Penguins project creating a buzz, leading to a significant rise in floor prices and trading volumes. Speculative sentiment in the altcoin and meme coin markets is high, with some projects experiencing extreme volatility.

Bitcoin ETFs and Ethereum ETFs continue to show a net inflow of funds. The market is focused on important events such as the US June CPI data and the Starknet token unlock. Recently, tokens with significant price increases include SKI, USUAL, PENGU, and others.

Multiple listed companies are increasing their holdings in cryptocurrencies, such as SharpLink Gaming purchasing Ethereum, Davis Commodities and Upexi considering increasing their holdings in Solana, and MicroCloud Hologram buying Bitcoin and related derivatives. The Czech central bank has also included Coinbase in its investment portfolio.

Overall, the cryptocurrency market continues to show a pump trend, but we still need to be wary of the volatility risks that may arise from policy changes and macroeconomic data.