Crypto markets are currently navigating levels around an all-time high of $4 trillion, with altcoins exhibiting promising potential.

加密货币市场目前正在涉足4万亿美元的历史最高水平，山寨币具有有希望的潜力。

Recent economic data from the United States indicates continued economic health and improvement, evidenced by a rebound in retail sales and a decrease in jobless claims. Furthermore, CPI and PPI reports suggest that core price increases remain moderate.

美国的最新经济数据表明，经济健康和改善，零售销售的反弹和失业索赔的减少证明了这一点。此外，CPI和PPI报告表明，核心价格上涨仍然适中。

The upcoming week features housing data and Purchasing Managers' Indexes (PMIs), which typically have limited influence on crypto market movements. The weekend has been relatively quiet regarding tariff-related news.

即将到来的一周具有住房数据和采购经理索引（PMI），通常对加密市场的影响有限。关于与关税有关的新闻，周末相对安静。

Economic Events: July 21 to 25

经济事件：7月21日至25日

• Wednesday: June's existing home sales reports will be released, offering insights into the housing market and overall economy, although they are unlikely to significantly impact higher-risk assets.
• Thursday: July's Global Manufacturing PMI and Services PMI are scheduled. These reports serve as leading economic indicators, providing timely perspectives on evolving economic conditions.
• Friday: Reports on June's Durable Goods Orders will be published. These orders measure the value of orders received by manufacturers for durable goods, helping to assess production activity and demand for major purchases.

Key Events This Week:

星期三：6月的现有房屋销售报告将发布，为房屋市场和整体经济提供见解，尽管它们不太可能显着影响高风险的资产。这些报告是领先的经济指标，提供了对不断发展的经济状况的及时观点。星期五：关于6月的耐用商品订单的报告将发布。这些订单衡量制造商收到的耐用商品的订单价值，有助于评估生产活动和对重大购买的需求。

1. Fed Chair Powell Speaks – Tuesday
2. June Existing Home Sales data – Wednesday
3. July S&P Global Manufacturing PMI data – Thursday
4. June New Home Sales data – Thursday
5. June Durable Goods Orders data – Friday
6. ~15% of S&P 500 companies report…

— The Kobeissi Letter (@KobeissiLetter) July 20, 2025

美联储主席鲍威尔讲话 - 星期二现有的房屋销售数据 - 星期三，标准普尔全球制造PMI数据 - 星期四，6月6日，新的家庭销售数据 - 星期四，6月份耐用的商品订单数据 - 〜S＆P 500公司报告中的15％…

Futures markets indicate a high probability (95.3%) that the Federal Reserve will maintain current interest rates at its July 30 meeting.

期货市场表明，美联储在7月30日的会议上保持当前利率的可能性很高（95.3％）。

The earnings season begins with the "Magnificent Seven" tech giants reporting second-quarter earnings this week, including Google parent Alphabet and Tesla.

收入季节始于“宏伟的七个”科技巨头，报道了本周的第二季度收益，其中包括Google父母字母和特斯拉。

According to Chuck Carlson, chief executive officer at Horizon Investment Services, this earnings season "seems to be especially important because of the rebound that the market has had," adding, "I would think that that has built in a fair amount of optimism in terms of earnings."

Horizon Investment Services首席执行官查克·卡尔森（Chuck Carlson）表示，这个收益季节“似乎尤其重要，因为市场的反弹是”，“我认为这在收入方面具有相当多的乐观态度。”

Crypto Market Outlook

加密市场前景

The total market capitalization has slightly decreased from its weekend peak above $4 trillion. Despite this, the crypto market has experienced a bullish year, with gains of 17.6% since the beginning of the year.

从周末峰值高于4万亿美元的周末峰值，总市值略有下降。尽管如此，加密货币市场经历了看涨年份，自今年年初以来增长了17.6％。

Bitcoin briefly dipped below $117,000 during late trading on Sunday but recovered to above $118,000 during the Asian session on Monday morning. The asset has been consolidating around this level after falling below $120,000 late last week.

在周日的交易中，比特币短暂下跌了117,000美元，但在周一上午的亚洲会议期间收回到118,000美元以上。上周晚些时候下跌低于120,000美元后，该资产一直在此水平上汇总。

Ethereum continues to outperform, surging to over $3,800 on Sunday, reaching a seven-month high. ETH has risen significantly, gaining 46% in the past two weeks, but has since cooled to $3,744 at the time of writing.

以太坊继续表现跑得跑得越高，周日飙升至3,800美元以上，达到了七个月的高点。 ETH在过去的两个星期中占46％，但此后在写作时已冷却至3,744美元。

Other assets showing strong performance this Monday morning include Dogecoin, with a 7.4% increase to $0.27, Cardano, reaching $0.87 after a 4% gain, Stellar, spiking to $0.48, and Chainlink, adding 5% to approach $20.

在本周一提表现出色表现的其他资产包括Dogecoin，加丹诺增加7.4％，达到0.27美元，收益4％，出色，尖峰至0.48美元，链球链路链接达到0.87美元，并增加了5％的速度，达到20美元。