Latest news shows that the U.S. Federal Reserve has kept the current interest rate level unchanged, with the rate range remaining at 4.25%-4.5%. The Fed Chairman did not provide a clear stance on the possibility of a rate cut in September, leading to a significant decline in market expectations for a rate cut in September. Currently, the U.S. inflation rate is 2.7%, and it is showing a continuous rise trend, which may bring more uncertainty to future rate cut decisions.

Financial analysts point out that the Federal Reserve's cautious attitude may affect the upward momentum of the cryptocurrency market, but in the long run, potential increases in liquidity could support a rebound in the market in the future. Nevertheless, the market generally expects that the Federal Reserve may cut interest rates 1-2 times before the end of the year. Affected by this news, the cryptocurrency market experienced a short-term decline, but then rebounded during the Asian trading session, maintaining a total market capitalization of around $3.94 trillion, recently showing a sideways fluctuation.

At the same time, the second quarter cryptocurrency community confidence index shows significant differences in market sentiment among different projects. The HYPE project ranks first with a high score of 88.02, with its price soaring by 203.54% in this quarter, attracting widespread attention with its newly launched decentralized options protocol. Following closely is the SPX project, scoring 85.43, with a quarterly increase of 169.60%, demonstrating strong community cohesion. The PENGU project ranks third with a score of 80.38, despite having experienced a significant drop, it still achieved a growth of 172.48% this quarter, driven by ETF applications and the launch of new games.

These data reflect that, despite the uncertainty in the macroeconomic environment, the cryptocurrency market remains active, and the performance of various projects shows a clear trend of differentiation. Investors need to closely monitor the Federal Reserve's policy direction and its potential impact on the crypto market, while also paying attention to the development dynamics and market reactions of individual projects.