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No updates for three days Have you missed it? Today, let's first talk about the fundamental situation this week: Over the weekend, the situation in the Gulf region cooled down temporarily, Brent crude oil once dropped about 5.2%, WTI fell about 5.4%, U.S. Treasury yields and the dollar fell simultaneously, and U.S. stock futures rebounded. This combination is favorable for crypto assets in the short term because it alleviates both inflation and liquidity tightening expectations. But the real risk this week comes from the Federal Reserve. Officially, the FOMC will hold a meeting on July 28–29; the statement will be released around 2:00 AM Beijing time on July 30, followed by a press conference by Powell at 2:30 AM. The market currently prices in about a one-third chance of a rate hike, meaning the uncertainty of this meeting is significantly higher than a regular policy meeting. Then, at 8:30 PM Beijing time on July 30, the preliminary U.S. Q2 GDP and June PCE will be released simultaneously, and at 8:30 PM on July 31, the Q2 Employment Cost Index will be published. In other words, there is a continuous macro volatility window in the latter half of this week. The ETF capital flow shows improvement but remains unstable: On July 24, BTC spot ETFs had a net outflow of about $240.1 million, ending the previous continuous inflows; ETH spot ETFs had a net outflow of about $70.7 million on the same day; However, ETH still had a net inflow of about $103.9 million for the week, and about $337.7 million net inflow since July. This indicates institutional demand has clearly improved compared to June but is not yet enough to confirm sustained one-way inflows. In the next article, we will talk about the market! $BTC $XAU