Bitget Daily Digest (7.17)｜Trump Denies Powell Dismissal Rumors; $ETH Rallies, Market Rises; Major $APE Token Unlock Today

远山洞见2025/07/17 02:43

By:远山洞见

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Bitget Daily Digest (7.17)｜Trump Denies Powell Dismissal Rumors; $ETH Rallies, Market Rises; Major $APE Token Unlock Today image 0

Today’s Preview

US weekly initial jobless claims (to July 12) will be released (previous: 227k).
The US July NAHB Housing Market Index will be announced (previous: 32).
Morph Black Card: Unstaking option will go live at 20:00 on July 17, with Phase 2 staking incentives launching at the same time. Holders who unstake cannot participate in additional Morph Token rewards; those who continue staking enter Phase 2 automatically and receive extra Morph Tokens.
ApeCoin (APE) will unlock 15.6 million tokens today, making up 1.95% of circulating supply.

Macro & Hot Topics

1. Procedural Vote on US House Crypto Bills Stalls

The US House was set to advance three major crypto bills during “Crypto Week,” but procedural votes have stalled. The holdup centers on GOP divisions over anti-CBDC provisions. Bills including the GENIUS Stablecoin Regulation Act were slated for votes this week but were delayed by infighting. Some lawmakers are pushing for explicit anti-CBDC language, stalling the process with no clear resolution in sight.

2. SharpLink Gaming Adds to Ethereum Holdings—Over 320,000 ETH Owned

In the past four hours, SharpLink Gaming acquired another 20,279 ETH (worth approx. $68.38 million) via Coinbase Prime and Galaxy Digital. Since early June, SharpLink has accumulated 321k ETH in “MicroStrategy-style” fashion at an average price of $2,745, with $204 million in unrealized gains so far. Notably, Arkham data doesn’t account for the 77k ETH they’ve staked directly.

3. CME Group: No Meme Coin Derivatives, But May Offer 24/7 Crypto Trading

CME—the world’s largest derivatives exchange—has no plans to launch meme coin derivatives due to limited use cases. CME recently expanded into Solana and XRP futures, attracting institutionals and recording multi-billion dollar trade volume. The exchange is considering 24/7 trading to better align with the crypto market but hasn’t made a final decision.

4. WLFI Crypto Portfolio Recovers, Was Down $157M in April

On-chain analyst Ember reports that if WLFI (Trump family’s crypto project) never sold their holdings, their on-chain portfolio—down $157M in April—is now back to breakeven. Since Dec 2023, WLFI spent $352M buying 12 assets (mainly ETH—over 60%). When ETH fell below $1,500 in April, the portfolio faced steep losses; most assets have since moved to Coinbase Prime, making it difficult to verify if any were sold.

5. Trump Denies Drafting Letter to Fire Fed Chair Powell

Trump rejected claims he drafted a letter to dismiss Fed Chair Powell, saying, “Powell has moved too slowly and performed poorly, but we’ll keep meeting challenges.” When asked if he’d fire Powell: “No plans, but things could change in the next eight months. I’ll appoint someone excellent—maybe Hassett from the National Economic Council. I’m only considering ‘low interest rate’ people for Fed Chair.”

Market Updates

1. BTC churns near highs, ETH rallies, alts surge: Over the past 24 hours, $409M in liquidations, mostly shorts.

2. Powell firing rumors spark volatility: US stocks fell then rebounded, Nasdaq hit new highs; USD and bond yields fell, gold rose.

Bitget Daily Digest (7.17)｜Trump Denies Powell Dismissal Rumors; $ETH Rallies, Market Rises; Major $APE Token Unlock Today image 1

3. Bitget BTC/USDT liquidation map: At 118,955 USDT; a 2,000-point drop (to 116,955) triggers $558M in long liquidations; a 2,000-point rally (to 120,955) would trigger $720M in shorts. Short liquidations far outweigh long risk. Manage leverage prudently amid volatility.

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4. BTC spot flows: $2.6B inflow, $2.4B outflow, net inflow $200M last 24hrs.

Bitget Daily Digest (7.17)｜Trump Denies Powell Dismissal Rumors; $ETH Rallies, Market Rises; Major $APE Token Unlock Today image 3

5. Perpetuals net outflows: $BTC, $XRP, $SUI, $XLM, $UNI lead in net outflow—potential trading opportunities.

Bitget Daily Digest (7.17)｜Trump Denies Powell Dismissal Rumors; $ETH Rallies, Market Rises; Major $APE Token Unlock Today image 4

Institutional Views

LD Capital: Taking a short break before acting again; long-term crypto bull trend remains intact. Source

News Updates

White House: Trump will sign an executive order Thursday at 4pm.
UK lawmakers call for a ban on crypto political donations.
Trump denies drafting a letter to fire Fed Chair Powell.

Project Developments

Orca plans to launch its Launchpad in late July or early August.
World Liberty Fi spent tens of millions purchasing 3,007.4 ETH in the past 9 hours.
Bitlayer launched BitVM, a BTC cross-chain bridge, on mainnet.
Ethereum reserve strategy firm BTCS Inc added to the Russell Microcap Index.
Liquid Collective launches LsSOL—liquid staking token for institutional investors.
Trump Media & Technology Group files AI-related trademark applications.
GMX: All GLP liquidity on Arbitrum has been withdrawn.
Eclipse Foundation to airdrop 100 million ES tokens to early users.
Ripple partners with UAE firm Ctrl Alt to tokenize Dubai real estate assets.
SharpLink Gaming still holds $257M in reserve for further ETH purchases.

X Highlights

1. BITWU.ETH: ETH’s “Repricing Wave” Has Only Just Begun

After three years in consolidation, ETH’s current move isn’t a top, but the start of a major repricing cycle. Selling “just to break even” misses the real upside. ETH is now a capital allocation heavyweight, with all six core metrics—validator count, staking rate, L2/DeFi ecosystem, institutional flows, developer activity, and narrative catalysts—hitting new highs. The main course—driven by ETFs and new capital—is just being served. The real opportunity is now and ahead. Link

2. MetaHunter: Leverage Isn’t Gambling—Mindset Dictates the Risk

Most equate leverage with risk, but it magnifies decision-making power. Leverage comes in labor (others work for you), capital (amplifying impact with money), and code (tech scales infinitely). The key isn’t to avoid leverage, but to marry it with clear business models and solid execution, turning it into a value multiplier—not a gamble. Master leverage and you’ll unlock geometric growth and resource optimization when opportunity arises. Link

3. Phyrex: Policy Headwinds Fuel Volatility; BTC and WLFI at Pivotal Point

Big moves today: upbeat PPI data first lifted sentiment, then Powell-firing rumors rocked markets before Trump shut them down, clarifying Powell would finish his term and naming potential successors. Four House bills up for a vote, and the stablecoin bill already cleared the Senate—could be signed off as soon as tomorrow. On-chain, the WLFI community approved circulation; BTC’s main support is $103.5K–108.5K, while the $112–114K URPD gap still needs filling. It’s a crucial period with policy and flow in play. Link

4. KevinZ: Pump Steadies Market, Bonk May Be Next for Revaluation

Key details yesterday: Pump is buying back tokens using platform revenue; market cap has hovered near $6B post-ICO; daily launches lag Bonk (16K vs 20K), as do graduations (125 vs 238). Meanwhile, Pump’s hot new USEFUL token launches, echoing Bonk’s USELESS in reverse. Bonk’s current market cap (<$3B) is under half Pump’s—if Pump doesn’t correct soon, Bonk could be due for a major revaluation. Yesterday, I increased my Bonk position (2/3 on-chain and CEX) and am watching closely. Link

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Nomura strategist Matsuzawa believes that the U.S. stock market's tech rally is more of a technical correction, and the market has not rebuilt confidence in AI investments. Expectations for a Fed rate hike have surged, with the implied probability of a December hike reaching 111%. If dovish officials fail to correct overly hawkish expectations, financing pressures for tech companies will re-emerge, making it difficult for stocks and bonds to rise simultaneously.

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