Macro Outlook: CPI data will influence Fed policy, Bitcoin may continue to set new highs

In the coming week, the market will welcome the release of important economic data. The U.S. CPI data is highly anticipated and may have a significant impact on the Fed's future monetary policy. If the inflation data comes in below expectations, it may reignite market hopes for a rate cut in July, while the opposite could dampen rate cut expectations. Additionally, data such as retail sales will also provide important references for economic trends.

In the cryptocurrency market, institutional investors continue to pour in, and Bitcoin is expected to continue reaching historical highs. Investors should also pay attention to the latest developments from the U.S. government regarding tariffs and the measures that Trump may take.

Important events in the coming week include:

• From Tuesday to Thursday, several Fed officials will speak on the economy and monetary policy.
• On Thursday, the U.S. will release data on June retail sales and initial jobless claims.
• The initial value of the U.S. July inflation expectations will be released on Friday.

Overall, CPI data will be the focus of the market. If inflation continues to slow down, it may boost market expectations for the Fed to shift to an easing policy; conversely, it may dampen those expectations. Investors need to closely monitor the impact of this data on the financial markets.

A country's central bank incorporates Coinbase into its portfolio, increasing its holdings in Palantir stock.

According to public documents, the country's central bank adjusted its U.S. investment portfolio in the second quarter, increasing its holdings in Palantir Technologies and adding a position in a certain cryptocurrency exchange platform. Specifically, the central bank purchased over $18 million worth of stock in the exchange platform. At the same time, the central bank also increased its holdings of Palantir shares by 49,135, bringing its total holdings to 519,950 shares.

The stock price of data analytics company Palantir surged 80% in the first half of 2025, significantly outperforming the market. The company benefited from strong earnings reports and growing investor interest in artificial intelligence. The stock price of a certain cryptocurrency exchange increased by 41% in the first half of 2025, and then rose another 10% in the following weeks. According to market data, the exchange's stock price has also risen by about 60% over the past month.

This move indicates that the central bank is gradually increasing its investment in emerging technologies and the cryptocurrency industry, reflecting its optimism about the future development prospects of these fields.

Small Bitcoin holders accumulate faster than miners' output

On-chain data analysis shows that small wallets holding less than 100 BTC are accelerating their accumulation of Bitcoin, with a current accumulation rate of approximately 19,300 BTC per month, surpassing the miners' monthly output rate of about 13,400 BTC. This indicates that the continuous net buying by small holders in the market is causing a measurable supply tightening.

Analysts predict that within the next 6 months, at least 36 new publicly listed companies are expected to integrate Bitcoin into their balance sheets, representing a 25% increase compared to the current number of 141 publicly listed companies that hold Bitcoin. Currently, companies increasing their Bitcoin holdings are mainly emerging companies or those facing operational challenges.

Hong Kong Officials: The first phase of stablecoin license issuance will be limited.

The Secretary for Financial Services and the Treasury of Hong Kong stated in an interview that only a small number of stablecoin licenses will be issued in the first phase. Regarding whether to allow the issuance of RMB stablecoins, he stated that the law does not restrict the types of pegged currencies, but if it involves currencies from other regions, discussions may be necessary with relevant authorities.

The government's latest policy declaration suggests promoting the "tokenization" of financial assets. The official stated that Hong Kong already has experience in issuing tokenized green bonds, and the next step hopes to extend to areas such as ETFs, believing that commodity trading, such as metals, can also be researched for token payments. This reflects that Hong Kong is actively exploring the application prospects of digital assets in the financial sector.

The public sale of PUMP tokens is complete, raising $500 million.

According to official information, the public sale of the PUMP token has completed 100% of its sales progress, with a fundraising amount reaching $500 million. On-chain data analysis shows:

• Complete a quota of 500 million dollars within 12 minutes
• 185 addresses purchased up to the $1 million limit
• 121 addresses purchased over $500,000
• USDC accounts for 97%, while USDT only accounts for about 3%.

Some analysts believe that the $500 million limit displayed on a certain exchange's official website shows a $100 million difference from the originally planned $600 million, which may be due to the failure of some exchanges' public sale systems to synchronize successfully. In response, the exchange released a statement saying that due to API delays leading to oversubscription, the funds of users who were not allocated will be fully refunded.

NFT market trading volume increased by 20.67% month-on-month, participation significantly shrank.

Data shows that the trading volume of the NFT market increased by 20.67% in the past week, reaching $122.6 million. However, market participation has significantly shrunk, with the number of NFT buyers decreasing by 89.08% to 88,157 people, and the number of sellers dropping by 82.62% to 56,817 people. The number of transactions remained relatively stable, increasing by 1.63% to 1,357,999 transactions.

The Ethereum network has regained its dominant position, with a trading volume of $50 million, a month-on-month increase of 133.36%. The Bitcoin network's trading volume is $15.5 million, an increase of 50.12%. The Polygon network's trading volume is $14.6 million, a decrease of 41.86%.

This week's high-value transactions include several Autoglyphs pieces and Otherdeed Expanded #7, with transaction prices all above $200,000.

Multiple listed companies increase their holdings in crypto assets

A certain industrial investment company in Norway announced that it is seeking capital balance allocation through Bitcoin, currently holding 754 coins, worth approximately 82 million USD, accounting for 1.7% of the company's market value. The company stated that Bitcoin can serve as a tool to hedge against inflation and currency fluctuations, supporting its diversification and value creation strategy.

A publicly listed company in Singapore has disclosed that it is evaluating the establishment of a Solana strategic reserve, considering allocating 5-10% of its funds to SOL. The company is also exploring projects such as using SOL for tokenized commodity trading.

Another listed company announced the issuance of approximately $4.8 million in common stock, with part of the proceeds to be used to incorporate a certain token into its corporate financial strategy.

These trends indicate that an increasing number of traditional enterprises are incorporating crypto assets into their investment portfolios and business strategies.