Ethereum leads the crypto market, this week focus on Powell's speech and the progress of US-EU trade.

Ethereum (ETH) rose by 4%, driving mainstream tokens such as DOGE, XRP, and SOL to follow suit, bringing the crypto market close to a market capitalization of $4 trillion once again. Investors are following the speech by Fed Chairman Powell scheduled for Tuesday, hoping for his stance on interest rate policies. Meanwhile, as the deadline for tariffs under the Trump administration approaches, trade negotiations between the U.S. and the EU have also become a market focus.

Ethereum leads the rise, and the overall crypto market is active.

Ethereum (ETH) continues to expand its rise, up 4% within the day, currently priced at $3,781.11, with a weekly rise of 25%. Bitcoin (BTC) remains stable at $118,000, showing no significant fluctuations. The total market capitalization of crypto approaches $4 trillion, indicating strong recovery momentum in the market.

As of the time of writing, XRP has risen by 3.71%, stabilizing above $3.5, continuing a weekly rise of 21%; meanwhile, Dogecoin (DOGE) has the most remarkable increase, soaring 10.37% to $0.279, with a weekly increase of as much as 35%. According to Coinglass data, DOGE futures open interest surged by 17% to $5 billion, reflecting strong bullish sentiment among market traders.

In the past 24 hours, the total liquidation volume in the crypto market reached $365 million, with short liquidations amounting to $210 million, further confirming the dominance of the bullish trend.

Powell's speech becomes the focus of the market

This Tuesday (July 22), Fed Chairman Jerome Powell will give a speech, becoming the focus of the global market. Currently, the U.S. June CPI data shows that inflation remains sticky, reducing market expectations for a rate cut in the near term. However, the Trump administration continues to pressure Powell to resign and calls for a one-time rate cut of 300 basis points.

The market is generally focused on whether Powell will address the rumors of resignation in this speech. Currently, Powell's term will last until May 2026, but the Trump camp continues to express dissatisfaction with his monetary policy stance.

0192837464656574839201 The progress of US-EU trade negotiations is optimistic.

On July 20 (last Sunday), U.S. Commerce Secretary Howard Gutman stated that a trade agreement with the European Union is expected to be reached before the tariff deadline on August 1. Currently, the Trump administration threatens to impose a 30% tariff on the EU, but has also hinted at a possible reduction to 15%-20%.

Rudnik stated in an interview with CBS's "Face the Nation":

"We just had an in-depth conversation with European negotiators, and I believe there is still 'ample room' to reach an agreement. This is communication between the two largest trading partners in the world, and I am confident that we will reach an agreement."

Under the dual game of the Fed's speech and trade situation, market sentiment is cautiously optimistic. Analysts expect that Bitcoin will consolidate its foundation during this phase, while the second half of 2025 may usher in a comprehensive explosion of altcoin season.

Conclusion: Ethereum and other mainstream tokens have driven a strong rebound in the market, with crypto market capitalization approaching historical highs. Investors need to closely follow Fed speeches and the dynamics of US-EU trade, as potential policy changes could become key driving factors for market trends in the coming weeks. (For cryptocurrency news, supports Google SEO optimization for inclusion)