Gate Daily: Bitcoin falls below $115,000; Trump announces latest global minimum tariffs; SEC announces "encryption plan" rewriting token rules.

Bitcoin (BTC) prices further retraced, reporting around 114,950 USD during today's (1st) Asian session. Before the deadline, U.S. President Trump announced the maintenance of a 10% global minimum tariff, identifying multiple trading partners' tariff rates ranging from 10% to 41%. The U.S. Securities and Exchange Commission (SEC) launched a "encryption plan" to rewrite digital asset rules. Strategy announced a 4.2 billion USD STRC stock issuance plan, which will be used for Bitcoin acquisition, among other things.

Today's Outlook

1. Australia's second quarter producer price index (annual rate), previous value was 3.7%.

2. France's July Markit/CDAF Manufacturing Purchasing Managers' Index final value was 48.4, previous value.

3. The final value of the Markit/BME Manufacturing Purchasing Managers' Index for Germany in July is 49.2, with a previous value of 49.2.

4. Eurozone July Markit Manufacturing Purchasing Managers' Index final value, previous value was 49.8

5. The UK July Markit/CIPS Manufacturing Purchasing Managers' Index, previous value was 48.2.

6. Eurozone July Consumer Price Index preliminary value (year-on-year), previous value was 2.0%.

7. Eurozone July consumer price index preliminary value (month-on-month), previous value was 0.3%.

8. The unemployment rate in the United States for July was 4.1%, previous value.

9, The change in non-farm payroll employment in the U.S. for July (in thousands), with a previous value of 147.

10, U.S. June construction spending (month-on-month), previous value was -0.3%

11. The ISM Manufacturing Purchasing Managers' Index for July in the United States, previous value was 49.0.

12. The final value of the University of Michigan Consumer Sentiment Index for July in the United States was 61.8, with a previous value of 61.8.

Macro Events & Crypto Hotspots

1. The White House announced that U.S. President Trump will maintain a 10% global minimum tariff, while imported products from countries with a trade surplus with the U.S. will face tariffs of 15% or higher. Trump signed an executive order that establishes "reciprocal tariffs" for multiple countries and regions, with specific rates ranging from 10% to 41%. For EU countries, if the current tariff on goods is below 15%, it will be raised to 15%; there will be no additional charges for those above 15%. The White House stated that a 39% tariff will be imposed on Swiss goods. The tariff rate for Pakistan is 19%. A 19% tariff will be imposed on Malaysian goods; a 20% tariff on goods from Vietnam. A 20% tariff will be imposed on Bangladesh. A 15% tariff will be imposed on Israel. Additionally, tariffs on Canada will increase from 25% to 35%, with the higher tariffs taking effect on August 1, 2025 (local time).

2. The U.S. Securities and Exchange Commission (SEC) will launch a full commission initiative called "Project Crypto" to update securities rules based on blockchain activities and to assist the U.S. market in transitioning to an "on-chain" model. Chairman Paul Atkins stated during a speech at the American Enterprise Institute on July 31 that the initiative will implement the recommendations outlined in the Presidential Working Group (PWG) report released this week and will be built on the federal payment stablecoin framework of the new "GENIUS Act." He emphasized that these remarks represent his personal views and do not necessarily reflect the views of the agency or other commissioners.

3. According to the Ethereum Foundation blog, yesterday marked the 10th anniversary of Ethereum, and today the official "lean Ethereum" vision was released as a development blueprint and personal mission for the next decade. This vision emphasizes a new generation of encryption at its core, balancing extreme performance, security, and decentralization, proposing a dual-track strategy of "fortress mode" and "beast mode" to propel Ethereum as the cornerstone of the value internet. The upgrade content covers three major sub-layers: consensus layer, data layer, and execution layer, aiming to achieve a dual breakthrough in performance and security, while also addressing future threats such as quantum computing. The Foundation stated that "lean Ethereum" is not only a technical upgrade but also a manifestation of minimalism and craftsmanship, aimed at establishing an unbreakable Ethereum network for future generations.

Market Trend

1、$BTC further retraced, currently reported around 114,950 USD, with a liquidation of 81.73 million USD in the past 24 hours, mainly for long positions;

2. The US stock market fell on Thursday (July 31), with the Dow down 330.30 points, a decrease of 0.74%, closing at 44,130.98 points; the S&P 500 index dropped 0.37%, marking the third consecutive trading day of decline, while the Nasdaq index edged down 0.03%. The Philadelphia Semiconductor Index plummeted 3.10%, and TSMC ADR fell 0.53%, closing at 241.62 dollars.

3. In the Gate BTC/USDT liquidation map, based on the current 115,836.30 USDT, if it falls to around 115,606 USDT, the total liquidation amount of long positions will exceed 438 million USDT; if it rises to around 119,702 USDT, the total liquidation amount of short positions will exceed 619 million USDT. The liquidation amount for short positions is significantly higher than that for long positions, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Gate)

4. In the past 24 hours, BTC spot inflow was 2.24 billion USD, outflow was 2.4 billion USD, with a net outflow of 160 million USD.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $ETH, $BTC, $SOL, $XRP, and $SUI have seen net outflows leading to trading opportunities.

(Source: Coinglass)

News Updates

1. PumpFun registers subdomains, or will launch a trading fee dashboard or incentive mechanism.

2. Apple reported Q3 revenue of $94.04 billion for the 2025 fiscal year, and is increasing its investment in the field of artificial intelligence.

3. A newly created wallet has received 23,314 ETH from Galaxy Digital again, worth approximately 88.27 million USD.

4. Mill City Ventures successfully completed a $450 million private placement and launched the SUI treasury strategy.

5. Trump identifies multiple trade partners' tariff rates ranging from 10% to 41%.

6. The SEC Chairman announced major initiatives to adapt to the development of encryption currency.

7. White House: A 39% tariff will be imposed on Swiss goods, and the Canadian tariff will be increased from 25% to 35%.

8. Puffer Finance announced that Puffer UniFi AVS has been upgraded, offering millisecond transactions.

9, "The ancient giant whale that held 3,963 BTC for 14.5 years" has sold 180 BTC again.

10. The shares of American Bitcoin held by Trump's second son are worth up to 367 million dollars.

11. Tether: The total holdings of US Treasury bonds have exceeded 127 billion USD, with a net profit of approximately 4.9 billion USD in Q2.

12. Strategy announced a $4.2 billion STRC stock issuance plan, achieving operational revenue of $14 billion in Q2 and a net profit of $10 billion.

13. The Ethereum Foundation announced the "lean Ethereum" vision, starting a new journey for the next decade.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Today's homework is submitted early, after all, it's not difficult to write. Although the PCE data has been released, just as expected, even if the data isn't good, the pressure on the market is very short-term because the current macro data is not very useful for the market. It's not that macro data isn't important, but any data now may not be able to stop Trump's firm intention to cut interest rates. The more dissatisfaction Trump expresses towards Powell in the media, the higher the market's desensitization to macro data becomes. Good data that can support interest rate cuts is good data, and data that cannot support interest rate cuts is also good data. The more Powell resists, the stronger the counterattack from Trump becomes. This is why, after the PCE data, the probability of the Federal Reserve not cutting interest rates in September has risen to 61%, but the market still remains lively. For example, tomorrow's unemployment rate data; if this data rises, it will raise market expectations for the Federal Reserve's interest rate cuts, which is good data. If this data falls, it reduces the Federal Reserve's determination to cut interest rates, and the market will not be overly concerned because the greater worry is Trump. We'll find out tomorrow. Today, around $118,500, I took profits on 80% of the long positions from the 29th and 30th, leaving 20% to see how it goes; once this position is fully closed, I'll review it again. Looking back at the Bitcoin data, the turnover rate is further decreasing. Although there has been a lot of macro data in the past two days and the market's volatility has been large, the decrease in turnover indicates that the impact of the current data on investors is becoming less and less. Although the FOMO sentiment is almost gone, selling off is not the main choice for current investors. Compared to tomorrow's unemployment rate, today's closing reports of $MSTR and $Coin will have a quicker impact on the market. In the second quarter, both the price of $BTC and the market's activity level were higher than in the first quarter, so the reports from MSTR and Coin should be better than those from the first quarter and may have a positive feedback on the market."