The overall cryptocurrency market, including Bitcoin, has seen a long-awaited rebound starting from last night, with Bitcoin surging to the level of $63,500 and Ethereum also rising above $3,500. In the past 24 hours, a total of 36,367 individuals have been liquidated, with the total liquidation amounting to $115 million.
Among all cryptocurrencies, the strongest rebound was seen in the interoperability concept sector, which includes LayerZero (ZRO), Wormhole (W), Axelar (AXL), ZetaChain (ZETA), etc., all experiencing over 10% gains in the past 24 hours.
Other tokens such as ZKsync (ZK), Ondo (ONDO), Notcoin (NOT), Solana (SOL) also saw considerable trading volumes and price rebounds.
Looking at the global macroeconomic market, this week remains a tense time for investors. The Federal Reserve is set to update the minutes from the June Federal Open Market Committee (FOMC) meeting to gain deeper insight into when the Fed might cut interest rates. Furthermore, Powell is scheduled to speak early this week, and any of his statements will influence the overall market’s fluctuations. On July 5th, key data including June’s non-farm employment figures and unemployment rate will be released. Economists predict that the number of employed in the US is expected to increase by about 190,000, significantly lower than the previous figure of 272,000, while the unemployment rate is likely to remain at 4%.
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