[7.18 Morning Report]

ETH stands out alone, while the altcoins remain silent; the strongest Alpha in this round of market is ETH itself—if you don't get on board, you won't feel the joy of making money.
1️⃣ $BTC: Bearish pressure is overwhelming, large holders + ETF can't pull it up.
80,000 ancient giant whales have just moved their holdings, and the price has returned to around 120K USDT. The treasury and ETF are stepping in to support, and BTC surprisingly held steady... The big brother is really tough now.
2️⃣ $ETH: The absolute star, rising to a level you can't believe.
🔹 The ETF benefits are coming in a chain reaction, even Nasdaq is proposing to allow iShares Ethereum Trust to participate in ETH staking;
🔹 OTC out of stock, Wintermute founder bluntly states: it's nearly impossible to buy ETH off the market;
🔹 SharpLink Gaming plans to issue an additional $5 billion to continue buying ETH.
In this wave of market, if you are not on the ETH chain, the wealth effect is basically = 0.
3️⃣ $SOL: Completely following the rise, no own pace
After stabilizing at 170, it follows ETH's strength, but there is no independent drive; let's see how the ecosystem performs.
📉 Current Situation of Shanzhai:
All MEME on the ETH chain are silent, with almost no upward movement, and both heat and liquidity have not picked up. The true wealth spotlight shines only on ETH itself and related ETFs.
📊 Policy & Macro:
4️⃣ Trump:
✔️ Plan to open 401(k) account for investing in cryptocurrencies & private equity assets;
✔️ Supports small-amount cryptocurrency tax exemption policy;
✔️ Repeated calls for the Federal Reserve to lower interest rates as soon as possible.
5️⃣ Significant Disagreement Among Federal Reserve Board Members
Waller tends to favor interest rate cuts, while Kugler remains cautious; the conflicting expectations of the economy and inflation continue to dominate the direction of short-term policies.
6️⃣ Superstate's founder's liquor business acquisition failed, but the crypto financial strategy is still being advanced.
7️⃣ Russia: Digital Ruble Plan to Launch in 2026, Public Attitude is Cautious;
Sberbank plans to offer domestic cryptocurrency asset custody services.
8️⃣ U.S. publicly traded companies are going crazy over Crypto
🔹 Bit Origin secures $500 million in funding to launch Dogecoin treasury plan;
🔹 Enlightify announced the purchase of 20 million USD worth of CYBER tokens over the next 12 months;
→ Various "treasuries" have started to absurdly compete with each other.
9️⃣ BTCT announced a strategic shift, liquidating all BTC and converting it entirely into ETH, completely switching the coin-stock logic.
🎯 One-sentence summary:
ETH has risen in this round of market, its supply has also been depleted, and altcoins basically have no chance.
This is not just a rotation in the crypto market, but a comprehensive unfolding of the logic of coinification. The next step is to keep a close eye on on-chain liquidity + ETF trends.