Vietnam has legalized cryptocurrencies via the passage of a new bill into law in a bold embrace of digitization. Apart from giving the nod to Bitcoin, the new law will lay the foundation for digital innovation across the Southeast Asian country. Vietnam Recognizes Bitcoin In Historic Move The National Assembly of Vietnam has passed the
A degen crypto trader has pulled in the trade of a lifetime after racking up a 9,000x gain on a single memecoin. The surge in Solana-based memecoin HOUSE to reach an all-time high may have earned him an early retirement, but whispers of insider trading continue to linger.
Crypto Trader Racks 9,000X Gains With HOUSE
According to an X post by Lookonchain, a crypto trader has gained a staggering $2.2 million in profit from an initial investment of $239. Per the data, the unknown trader purchased 25.77 million HOUSE for $239 in four separate transactions a month ago, but a memecoin rally has seen the value of his holdings surge.
A month after his purchase, the Solana-based memecoin reached an all-time high of 0.1055%, sending the trader’s holdings to new highs. The mega rally saw his initial $239 clinch a valuation of $2.2 million, translating to a 9,228x return in a month.
Onchain data indicates that the crypto trader sold 1.91 million HOUSE for $58.8K as the earliest profit-taking play. Despite the spike in valuation, the crypto trader is still sitting on $2.15 million worth of HOUSE in a strong show of faith.
“A month ago, he bought 25.77M $HOUSE for only $239, sold 1.91M $HOUSE for $58.8K, and still holds 23.85M $HOUSE (2.15M),” said Lookonchain.
HOUSE has gained over 60% in the last 24 hours, with trading volumes surging to $53.09 million, a near 60% increase. The Solana-based memecoin’s rise comes amid Bitcoin and altcoins flashing bullish signals at the start of the week.
Speculation Of Insider Trading Continues To Linger?
Since purchasing HOUSE, on-chain data reveals that the trader’s activity levels have dropped to the lowest levels. Prior to the $239 purchase, the crypto trader purchased and sold around 10 memecoins per day, but trading activity came to a halt after the HOUSE accumulation.
Lookonchain describes the behavior as signals of a “retirement,” but a cross-section of the crypto community is pointing to insider activity. The long-term holding behaviour is sparking speculation that the crypto trader may be a project member or developer with knowledge of an incoming price pump
“He used to trade ~10 coins daily but has hardly traded after buying $HOUSE,” noted Lookonchain. “Early retirement?”
Previously, a group of crypto traders netted $666K from a single trade, stoking similar insider trading speculations. The trader raked in the profit with a meagre investment of $4.5K in the Base Is For Everyone token.
As July ends, traders and investors will keep an eye on August. They willwatch several US economic signals that could influence their portfolios.
This week’s US economic signals are particularly important with Bitcoin (BTC) eyeing the $120,000 threshold.
US Economic Indicators That Could Impact Bitcoin This Week
The crypto market is up today, with Bitcoin leading the charge as it closes in on $120,000. However, whether this optimism is sustainable depends on how this week’s US economic signals unfold.
US Economic Signals this week. Source: MarketWatch
Consumer Confidence
The consumer confidence report is starting this week’s US economic signals, which are due on Tuesday. The Conference Board’s Consumer Confidence Index plummeted to 93.0 in June 2025, a 5.0-point drop from May (98.0).
According to data on MarketWatch, the median forecast is 96.0, suggesting economists are more optimistic for July. However, consumers express growing concerns amid Trump’s tariffs.
“Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future,” Reuters reported, citing Joanne Hsu, the director of the Surveys of Consumers.
This erosion of confidence suggests a reduced risk appetite. Pessimistic consumers are less likely to invest in speculative assets like Bitcoin, favoring safer options like bonds or cash.
If the July consumer confidence rises above expectations, it could bolster risk appetite, potentially boosting crypto.
The Job Openings and Labor Turnover Survey (JOLTS) report and Job Openings are due on Tuesday and will be released by the US Bureau of Labor Statistics (BLS).
JOLTS
The June JOLTS report, due on Tuesday, is projected to come in lower than the 7.8 million recorded in May. According to economists surveyed by MarketWatch, data on job openings, hires, and separations in the US could come in at 7.4 million.
Despite the projected drop, a 7.4 million reading would still exceed the multi-month low of 7.192 million recorded in March. Notwithstanding, it remains the key highlight of this week’s US economic indicators.
ADP Employment
Another labor market data point to watch this week is the July ADP employment report. The BLS report, which is more comprehensive and widely regarded as the official measure, indicated that private-sector employment dropped by 33,000 jobs in June 2025.
The figure was significantly lower than economists’ expectations of a 95,000 job increase, with the decline suggesting a slowdown in hiring. Data on MarketWatch shows that economists projected 82,000 job increases in July, which would still be lower than the previous reading.
Initial Jobless Claims
Another labor market data feature among US economic signals this week is the initial jobless claims, due on Thursday. This weekly jobs data highlights the number of US citizens who filed for unemployment insurance the previous week.
Initial jobless claims came in at 217,000 in the week ending July 19, but economists anticipate better prospects for the week ending July 26 and anticipate up to 221,000 applications.
An uptick in jobless claims may signal economic weakness. This would increase the likelihood of the Fed adopting a more accommodative monetary stance.
Such a shift could lead to a weaker dollar, enhancing Bitcoin’s attractiveness as an alternative asset. However, if the rise in claims is viewed as a temporary fluctuation, the impact on Bitcoin may be limited.
Meanwhile, analysts say a resilient labor market, coupled with sticky inflation, could allow interest rates to remain elevated. However, signs of a cooling job sector could temper the Fed’s path.
Non-Farm Payrolls
The US Employment report, or Non-Farm Payrolls (NFP) for July 2025, is scheduled for release on Friday. The economy added 147,000 jobs in June after 139,000 jobs in April. Meanwhile, the unemployment rate dropped to 4.1% in June after 4.2% in May.
Non-farm payroll and unemployment in the US. Source: Trading Economics
Data on MarketWatch shows that economists anticipate an increase of 4.2% in the US unemployment rate against a slowdown in jobs to 102,000. This drop or slowdown reflects potential economic impacts from President Trump’s tariffs.
Strong job growth may lead the Fed to maintain its current monetary policy stance or even consider tightening, which could strengthen the US dollar and potentially suppress Bitcoin.
However, if underlying economic concerns prompt the Fed to adopt a more dovish approach, Bitcoin could benefit as investors seek alternative stores of value.
Analysts say tough employment conditions in the US come as employers seeking clarity around the White House’s trade policy progressively having to deal with frequent adjustments to timelines and schedules.
FOMC Interest Rate Decision
Meanwhile, this week’s US economic signals highlight the FOMC interest rate decision on Wednesday. This economic indicator comes after the US CPI (Consumer Price Index) showed inflation rose to 2.7% in June.
The FOMC minutes on July 9 suggested rate cuts this year, with policymakers agreeing inflation had eased but remained “somewhat elevated.” Additionally, uncertainty around the outlook had diminished, though not disappeared.
However, whether the Fed will cut interest rates on July 30 remains to be seen. Data on the CME FedWatch Tool shows that interest bettors see a 96.9% probability that the Fed will keep interest rates unchanged between 4.25% and 4.50%.
“What’s more interesting is the Powell press conference. A few days ago, Trump met Powell, and he’s expecting the Fed to be dovish. A few other Fed governors are also calling for low interest rates, so this press conference will be pivotal,” one user observed.
Indeed, beyond the FOMC interest rate decision, traders and investors will closely examine Fed chair Jerome Powell’s speech for signals into the Fed’s future outlook.
If Powell hints at rate cuts in September, it could inspire optimism in the market. However, if he sounds just like the last FOMC meetings, the crypto market might see a sharp correction.
In a recent interview with CNBC, Chicago Federal Reserve Bank President Austan Goolsbee shared his position on the possibility of a FED interest rate cut in 2025. Goolsbee states that the Fed may lower the rates in the next 10-16 months, albeit with a cautious approach due to trade policy unpredictability. Austan Goolsbee Shares His Timeline for an Interest Rate Cut Federal Reserve Bank official Austin Goolsbee posited that the Fed will probably keep interest rates steady for now, carefully evaluating the effects of evolving trade policies on the economy. Goolsbee emphasized that the unusually high EU tariffs could disrupt supply chains. However, as the economy remains strong, rate cuts could be possible if tariff-related uncertainties do not trigger inflation, added the Fed President. Forecasting future FED interest rate decisions, he stated, “I’m still underneath hopeful that we can get back to that environment, and 10 to 16 months from… Read More at Coingape.com