In this episode of "Blockchain's Blueprint," hosts Alex and Jess analyze the current state of the cryptocurrency market, which is characterized by a neutral sentiment despite significant underlying volatility triggers. The total crypto market cap has dipped to $3.33 trillion, with Bitcoin trading above $108,000 and Ethereum around $2,500. A recent $3.6 billion options expiry and the movement of 80,000 BTC from a long-dormant wallet are creating ripples. Key upcoming events in July are expected to heavily influence the market, including the signing of a new U.S. budget proposal that could increase the national deficit, a U.S.-China tariff deadline, and a U.S. crypto executive order. While implied volatility for both Bitcoin and Ethereum has decreased, traders are positioned for a significant price swing. Potential catalysts for an upward move include a dovish Federal Reserve and de-escalation of Middle East tensions, while a hawkish Fed or miner capitulation could lead to a downturn. The hosts conclude by noting that while the market's direction is uncertain, the fundamentals are being driven by major macroeconomic factors.

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