A volatile week of significant economic and political events has unfolded, with the Fed's decision and President Trump's decisive actions at the center. Meanwhile, the crypto market has shown astonishing stability, with capital quietly flowing into Bitcoin and altcoins, opening a new chapter for investors.

Market Overview & Macroeconomic Data

The final trading session of July saw a fierce reaction from the US stock market. Specifically, after weak jobs data and statements from the White House were released, the market lost over $1.11 trillion in market capitalization in a single session. Major indices all fell sharply, reflecting concerns about economic and political instability.

Conversely, the crypto market showed a much more positive picture. Bitcoin only saw a minor correction, with no signs of a panicked sell-off, indicating the maturity and firm conviction of investors. Bitcoin ended July with an 8% gain, while Ethereum saw a strong breakout with over 48% growth. Sui also set a new record for DEX trading volume, reaching $14.2 billion in July. These are signs that capital is shifting towards digital assets as a potential safe haven and investment channel.

In terms of data, the US ADP private employment report for June showed a decrease of 33,000 jobs, significantly lower than the forecast. The unemployment rate for July held at 4.2%, as predicted, but official non-farm payroll data only increased by 73,000, much lower than expectations. Notably, past jobs reports have been sharply revised downwards, with a total of 258,000 jobs being "overstated," leading many analysts to believe that the US labor market is not as robust as previously thought.

The Trump-Fed Showdown: Disputed Data & Rate Cut Pressure

The FOMC meeting at the end of July concluded with a decision to keep interest rates at 4.25%–4.5%. This decision was largely anticipated by the market, but what was noteworthy was the clear division within the Fed itself. With a vote of 9–2, it was the first time since 1993 that two members opposed keeping rates unchanged. Chairman Powell described the current policy as "somewhat restrictive" and stated he would continue to monitor data before making a decision.

However, the Fed's caution did not please President Trump. He immediately took an unprecedented step: he ordered the firing of Erika McEntarfer, the head of the Bureau of Labor Statistics (BLS). Trump accused the BLS of "faking jobs data," hindering rate cuts, and harming the public. He emphasized that "there is no inflation" and "Q2 GDP is up 3%," so "interest rates must be cut immediately" to allow people to buy homes and refinance debt.

President Trump's action shows that he is increasing his direct influence over agencies that play a critical role in shaping monetary policy and macroeconomic statistics. The dissent within the Fed and political pressure from the White House create a risky and unpredictable environment for traditional financial markets, but this further solidifies trust in the independence of assets like Bitcoin.

The Bitcoin Accumulation Wave & New Crypto Movements

Despite the decline in the stock market, capital flows into crypto remain very stable. Global companies continue to accumulate Bitcoin, doing so quietly and with a clear strategy. In the week from July 28th to August 2nd, there were 64 announcements of additional Bitcoin purchases from businesses worldwide, with a total estimated accumulation of 33,300 BTC. This is a very significant number, especially as it occurred while the market was trading sideways, without major news cycles or widespread FOMO.

Some of the notable names include:

• Metaplanet (Japan): This company purchased an additional 463 BTC, bringing its total holdings to 17,595 BTC.
• Vanadi Coffee (Spain): Despite being a coffee roasting and distribution company, Vanadi has accumulated 85 BTC.
• Capital B (France): A private investment firm also entered the market by buying BTC as part of its asset diversification strategy.

The common thread among these companies is that they are not exclusively traditional tech or financial firms, which shows that Bitcoin is increasingly being recognized as a strategic reserve asset, similar to gold.

Furthermore, capital flows into Bitcoin and Ethereum ETFs remain steady. Funds like BlackRock, Bitwise, and Fidelity continue to lead in net assets, showing that institutional investor interest remains very strong, despite minor short-term price fluctuations. Notably, the Base Network, backed by Coinbase, has surpassed Solana in the number of new tokens issued daily. The main driver for this is the explosion of Zora, an on-chain social media platform where users can issue tokens from their own content. This is a sign that crypto is expanding its application beyond finance and moving into the fields of content creation and Web3 social media.

Trump's Crypto Policy & Investment Strategy

In terms of policy, President Trump is taking a firmer and clearer stance than ever in controlling and promoting the digital asset industry. The US Commodity Futures Trading Commission (CFTC) has launched a "crypto campaign" under direct guidance from the White House, which is the first step in implementing new executive orders related to cryptocurrency. Trump Media & Technology Group (TMTG) also released its Q2/2025 financial report with a loss of $20 million and total assets of $3.1 billion. While revenue is still limited, it's clear that this group is investing heavily to build an independent media ecosystem that can integrate blockchain.

President Trump's actions to control agencies that influence monetary policy and macroeconomic statistics create a favorable macro framework for the crypto market from late Q3 onwards. The dissent within the Fed and political pressure from the White House may shake traditional markets, but they highlight the value of decentralized assets like Bitcoin.

The Fed's internal body is starting to show disagreement, even while maintaining a cautious stance. Trump continues to increase his influence on macroeconomic data and the market. August could be a time for capital flow restructuring, and crypto remains a potential destination if stocks weaken. Investors need to closely monitor upcoming data such as CPI, PPI, and the August jobs report for a comprehensive overview.

According to ThuanCapital, this is a quiet accumulation phase, but it is also the period that shapes all the upcoming trends. Instead of chasing FOMO, investors should have a clear strategy, patiently accumulating and holding assets for the long term.

Sources

• The New York Times
• Fox Business
• Bloomberg
• Tether Transparency Report
• CryptoQuant
• The Block
• Coingecko
• Dune Analytics
• Truth Social
• The Committee for a Responsible Federal Budget
• TradingView
• Reuters
• SEC
• White House Press Office
• Metaplanet
• Vanadi Coffee
• Capital B
• Zora
• Base
• Sui
• CME
• JPMorgan
• Fidelity
• BlackRock
• Bitwise

Disclaimer

This article is for informational purposes only and should not be considered financial advice. Please do your own research before making investment decisions.