Viewpoint: Crypto Market Remains Resilient Despite Weak US Macro Data

Singapore-based crypto investment firm QCP Capital noted in a post that risk assets remain stable despite weaker-than-expected US ADP employment and ISM data. President Trump has accused the Federal Reserve of not cutting interest rates in time and has proposed permanently eliminating the debt ceiling.

The Treasury Secretary announced the "Big Beautiful Bill" plan, which proposes a 100% tax deduction for manufacturing and R&D centers. Congress will vote on the relevant bill on July 4th.

JPMorgan Chase has approved Cryptocurrency ETFs as loan collateral for its retail, trading, and wealth management businesses, formally recognizing the net asset value status of crypto assets for the first time. Publicly listed companies K Wave Media and Treasure Global have successively announced allocations to crypto assets. Circle Internet Financial has submitted an IPO application with a valuation of $7.600 billion to $8.100 billion.

On June 4th, net inflows for spot BTC/ETH ETFs were $87.00 million and $57.00 million, respectively. Although slower than in May, the structural aspect remains solid. $ETH continues to test the 200-day moving average, and the ETH/BTC exchange rate remains near 0.025, indicating relative strength. Demand is rising for $130,000.00 $BTC call options expiring in September, reflecting increasing market expectations of breaking previous highs.