The market awaits CPI data and "Cryptocurrency Week", Bitcoin breaks through $120,000 to set a new high.

Recently, the U.S. government announced that it will impose a 30% tariff on products imported from Mexico and the EU, a move that has raised market concerns and pushed up the prices of safe-haven assets. Analysts believe that this policy shift adds uncertainty to the Federal Reserve's interest rate decisions, with market expectations for a rate cut in September having dropped to around 70%. The CPI data for June, to be released this week, will become a focal point for all parties and will have a significant impact on policy direction in the second half of the year.

In addition to focusing on economic data, the U.S. Congress will hold "Cryptocurrency Week" this week, reviewing multiple related bills that could significantly impact the landscape of the digital asset market. Meanwhile, Hong Kong is steadily advancing its stablecoin and asset tokenization strategy, seeking a balance between innovation and stability by optimizing the legal framework, supporting startups, and strengthening international cooperation.

Bitcoin price breaks through $121,500, setting a new historical high. Analysts believe that if it can break through the $120,000 resistance zone, it is expected to rise to between $135,000 and $140,000. Solana has seen a 12.87% increase in the past 30 days, breaking the $160 mark twice, and some analysts expect it to challenge $300 before August.

The NFT market has seen a phenomenal spread, with the "profile picture craze" sparked by Pudgy Penguins sweeping through several well-known institutions. Its floor price has surged by 49.4% in the past week, with a 24-hour increase of 21.8%, far exceeding other blue-chip projects.

The main data shows that the price of Bitcoin is $121,974, and Ethereum is $3,048.51. The market fear and greed index is at 75, indicating a state of greed. In the past 24 hours, a total of 119,500 people have encountered liquidation, with a total amount reaching $684 million.

This week's important events include the U.S. House Financial Services Committee reviewing multiple encryption bills, as well as the release of the U.S. June CPI data. In addition, Starknet will unlock approximately 127 million tokens on July 15, valued at about $17.6 million.

Recently, among the top 500 tokens by market capitalization, Ski Mask Dog, Usual, and Pudgy Penguins have performed outstandingly, with an increase of over 30%.

In terms of institutional dynamics, the Czech National Bank has included a certain trading platform in its investment portfolio, and several listed companies have announced purchases of Bitcoin or Solana. At the same time, NFT trading volume increased by 20.67% month-on-month, reaching $122.6 million, but the number of buyers and sellers has significantly decreased.