CoinEx News: Bitcoin retreated toward $65,000 as U.S. spot BTC ETFs recorded roughly $225 million in net outflows. Global markets are re-pricing a “higher oil + higher inflation + higher rates” scenario. The Trump administration formally imposed 10%–12.5% tariffs on roughly 60 economies to replace the expiring temporary 10% global tariffs, while Middle East tensions continue to escalate. Brent crude spiked more than 7% above $100 before retracing, and it is now oscillating near $94. Treasury yields surged, and the probability of a 25 bp Fed hike next week jumped from 10% to about 38% within days. 

AI demand remains intact—Google Cloud’s and Intel’s data-center businesses posted strong growth—yet investors are questioning the pace of capital spending after Google and Tesla reported negative free cash flow and raised full-year capex guidance. U.S. equities sold off across the board, with growth stocks being hit hardest. The Magnificent Seven lost nearly $800 billion in market value in a single session. Near-term focus remains on the formal implementation of the new tariffs on July 24, further developments in the Middle East, and the policy signal from next week’s FOMC meeting.