TL;DR:
At the macro level, the "One Big Beautiful Bill" fiscal package may provide short-term momentum, however the accompanying $5 trillion increase in national debt intensifies long-term inflationary risks. US equities maintain optimism: S&P 500 and Nasdaq hit new all-time highs, while European markets correct due to tariff uncertainty. In the crypto sphere, the regulatory front remains favorable: SEC gave green light to Grayscale's multi-crypto ETF, while Circle and Ripple apply for banking licenses. Against this backdrop, Bitcoin consolidates near $108K with 30-day momentum rising to +4.2%, open interest growing another 7%, and exchange reserves steadily declining. Key catalysts for the coming days will be the July 9 tariff deadline, FOMC minutes publication and fresh PCE data, which could trigger a surge in market volatility.
Macroeconomics Over the Past Week
Priority: High
"One Big Beautiful Bill" Fiscal Reform
Conclusion: The bill promises the largest tax cut in US history for middl…
