JPMorgan remains bullish on U.S. stocks even as some observers warn that the economy is beginning to pay the price for President Donald Trump’s tariffs.

The investment banking giant forecasts that the S&P 500, Wall Street’s benchmark index, will yield a “high single-digit return over the next 12 months,” driven by three key factors.

One of the main reasons for optimism is that markets don’t care about signs of an economic slowdown. Instead, traders are focused on resilient corporate earnings and the subsequent economic recovery.

Since President Trump fired the first tariff salvo on April 2, economists have downgraded full-year U.S. growth forecasts from 2.3% to 1.5%. Still, the S&P 500 has gained over 28% in the four months. The index has held steady despite recent economic data revealing softness in the labour market and consumption, as well as stickiness in manufacturing and service sector inflation.

While the macro analysts’ warning is concerning and likely playing out in the background, corporate earnings in the U.S. are ignoring the slowdown risks, at least in the short term, making it the second catalyst for JPMorgan’s bullish thesis.

Over 80% of S&P 500 companies have recently reported their Q2 earnings, with 82% surpassing earnings expectations and 79% beating revenue forecasts—the strongest performance since the second quarter of 2021.

The winners and losers

According to JPMorgan, while Wall Street analysts initially projected earnings growth below 5%, the index is now on pace for an impressive 11% growth rate. This robust showing supports the ongoing bullish trend in the stock market.

“The full-year earnings expectations for both this year and next have already started to turn higher,” analysts at JPMorgan’s wealth management said in a market note on Friday, adding that the market is increasingly differentiating between the winners and losers of the Trump trade war.

Additionally, the market is now figuring out and pricing in which companies are getting hit most by U.S. tariffs. So far, it looks like mega corporations will be just fine. This could bolster the case for further positive sentiment in the markets.

JPMorgan analysts explained that consumer-facing and smaller companies with restrained bargaining power against their trading partners and rigid supply chains are facing a stagnant earnings outlook.

This ties to JPMorgan’s last catalyst: Trump’s tariff bark is proving worse than its bite for large firms, which are managing to secure exemptions and even turn the tariff policies, aimed at sparking a manufacturing boom, into a tailwind.

“The latest example is President Donald Trump’s suggestion that imported semiconductors would be taxed at a 100% rate unless the companies commit to relocating production to the United States. Another sign? Apple products are exempted from the latest tariff rates on Indian goods. Indeed, the company also announced an additional $100 billion investment in U.S. manufacturing facilities. The stock gained almost 9% this week. Tariffs are not happening in a vacuum,” analysts explained.

Big firms gain an additional advantage from the One Big Beautiful Act (OBBA), under which firms can claim 100% bonus depreciation for purchases of qualified business property and immediate expense of domestic research and development costs. According to some analysts, the depreciation policy could increase free cash flow for some by over 30%, which could incentivize more investment.

The bank added that its investment strategy remains focused on large-cap equities, particularly in the technology, financials, and utilities sectors, which it believes are best positioned to navigate this new economic environment.

The crypto angle

JPMorgan’s positive outlook for stocks could bode well for cryptocurrencies, as both tend to move in tandem. The digital assets market has plenty going on for itself, with the Trump administration appointing pro-crypto officials to key regulatory positions.

Recently, the U.S. Securities and Exchange Commission (SEC) ruled that liquid staking, under certain conditions, falls outside the purview of Securities Law. The ruling has raised hopes for staking spot ether ETFs winning regulatory approval.

Ether has rallied over 13% to over $4,200, reaching levels last seen in 2021. Prices surged nearly 50% last month, CoinDesk data show.

SPK is up 330% over three days as Spark attracts billions on TVL. The SPK rotated after the ignition airdrop and was fanned by the overdrive phase and exchange list.

Defi Tokens is focused. High lipids and top Ethereum synthesis are trending and reflects the great performance of Ethereum, but attention is quickly exposed to sparks.

Discover: Best Meme Coin ICO for Investing in 2025

SPK Crypto Rallying Increases 220% over 3 days

SPK, the governance token of Spk, is The best cipher to buy Currently, he has achieved an impressive 220% in three days.

This surge was pushed up SPK3 (no data) The profits will be extended from early July to the highest ever high, breaking beyond the June 2025 high.

At spot rates, the path with the lowest resistance is in the north.

On the daily charts, SPK Crypto was registered at $0.188 early today, before retreating.

However, SPK has risen by 80% over the last 24 hours, doubled since the price peaked since yesterday. Top Solanamime Coin.

For now, local support is at its high in June 2025, and buyers will remain in control as long as this level is maintained. SPK Crypto could surge to new levels in the coming days.

What is Spark Crypto?

Spark is a Defi protocol designed to optimize Stablecoin yield.

The platform aims to make Defi more efficient through a range of products.

Sparklend offers a Stablecoin lending market where SPK holders vote for loan interest rates.

https://www.youtube.com/watch?v=61q4cowdm_m

This product is stabilized by Spark Ryoidity Layer (SLL). This is a solution that automates capital across multiple Ethereum Layer-2, including optimism and base.

Simply put, SLL optimizes yield production while ensuring Sparklend receives consistent fluidity.

In addition to lending, users can save money through spark savings. You can deposit silly things like USDC and USDS to get competitive yields. Spark Savings can also be integrated with other Defi protocols.

Spark works as “Sky Star,” a Subdao within Sky Protocol, which was previously a Makerdao.

To benefit its owners, Spark will leverage Sky Protocol’s Stablecoin Reserve.

As a result, the protocol can efficiently deploy capital across Defi, CEFI and actual assets.

Behind this ecosystem is the SPK, which is primarily used for governance. Active holders, such as those participating in staking, can earn Spark Points for additional SPK rewards.

Discover: 13 The best pre-cryptode before investing in July 2025 – Top Token Precels

Why is SPK encrypted?

The catalyst behind the recent surge was the completion of the Ignition Airdrop on June 17th.

Welcome to Spark Ignition Airdrop.

It is the launch moment of a new era of decentralized finance.

Recognizes visionaries. Believers. Someone who saw the future.

The Ignition Phase 1 Eligibility Checker is now live.

Please check if you are eligible pic.twitter.com/mk8aaxkrlm

– Kick (@sparkdotfi) June 12, 2025

Through this airdrop, 20-300 million SPK tokens were distributed to early adopters, causing FOMO.

Prices temporarily fell, but the recovery was strong due to the ongoing overdrive phase, so SPK holders need a stake between July 29th and August 12th.

Overdrive is for those who bet, stay and believe.

You can bet via SPK in the second phase of airdrop @symbioticfi Get share of unclaimed ignition SPK.

Here’s how to secure qualifications pic.twitter.com/6khwdtvatw

– Kick (@sparkdotfi) June 18, 2025

The stakers receive additional SPK tokens based on accumulated spark points.

Currently, over 3,000 stakers have locked in nearly 130 million SPKs.

(Source: Spark)

Spark will also reward users who deposit SUSDC in OP Mainnet and Spark Savings in Unichain.

In an X post, Spark announced that they release around 76,000 OP tokens each week, boosting the yields of savers.

Just unlock more OP Rewards

Spark is now releasing:

~76,000 on/week
~ Increase APY to 4.42% on current TVL

There is no lockup. There are no gimmicks. It’s just pure @Popularity Spark rewards!

Live now until the end of 2025. Start now https://t.co/r70dq71mvl pic.twitter.com/ouexzgapbu

– Kick (@sparkdotfi) July 22, 2025

Additionally, SPK Crypto received improved liquidity after being listed in major exchanges such as Coinbase and Binance. SPK prices at the rally attracted millions of traders across these platforms, and were keen to ride the upward wave, providing even more fuel to FOMO.

Discover: Best New Cryptocurrencies to Invest in 2025 – Top New Cryptocoins

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REZ crypto surged 70% in two days, extending gains from mid-July. Renzo taps into EigenLayer, changing the liquidity restaking game on Ethereum and Solana.

The total crypto market cap is steadily approaching the $4 trillion mark, with Bitcoin remaining the most dominant, commanding a 61% market share. This high liquidity means prices don’t move as quickly, though the digital gold has surged in the past week. With Bitcoin rallying, some of the best altcoins to buy have emerged.

Over the past 24 hours, Renzo has been among the top performers, jumping 10%, extending its two-day gains to nearly 70%.

The token is currently in a bullish breakout formation, decisively surpassing June 2025 highs and heading toward $0.020, targeting Q2 2025 highs.

Buyers are in a strong position and may push REZ (No data) crypto to be among the next cryptos to explode. Despite a pullback yesterday that reversed some gains, trading volume is rising, building on the July 15 momentum. This leg up also confirms gains from July 8 to July 11, when REZ crypto added 122% before retracing.

Although House Speaker Mike Johnson canceled yesterday’s remaining floor votes due to opposition from some Republicans, there is strong hope that the GENIUS Act will eventually pass.

Congress voted to allow debate on the bill’s details, with Donald Trump posting on TruthSocial that he was in the Oval Office with 11 of the 12 Congress members needed to pass the act.

EXPLORE: 20+ Next Crypto to Explode in 2025

What Is Renzo?

The passing of the GENIUS and CLARITY Acts would be transformative for Ethereum, where the Renzo protocol plays a key role in securing the mainnet.

Renzo is a liquid restaking protocol for Ethereum and Solana.

It simplifies, flexibilizes, and enhances the interoperability and rewards of ETH and SOL staking on their mainnets.

The platform leverages EigenLayer, allowing users to deposit ETH or liquid staking tokens like stETH to receive a liquid restaking token (LRT).

The LRT represents a share of staked assets and auto-compounds staking and restaking rewards.

Crucially, the token is tradable, enabling users to engage in DeFi activities while earning yields from Ethereum or Solana mainnets and EigenLayer’s Actively Validated Services (AVS).

Renzo also supports EigenLayer AVS security by managing node operators and user strategies.

DISCOVER: Top Solana Meme Coins to Buy in July 2025 

Why Is REZ Rallying?

The REZ crypto surge is driven by technical candlestick patterns and fundamental developments.

The potential passage of the GENIUS Act is likely to boost activity on Ethereum and Solana, directly benefiting liquid restaking protocols like Renzo.

Additionally, Renzo has capitalized on EigenLayer’s initiatives. After introducing slashing in April, EigenLayer recently launched Flow Vaults with contributions from Renzo and Concrete.

1/ Cross-Chain Asset Restaking on EigenCloud with Flow Vaults

Restaking is no longer ETH-only. @RenzoProtocol’s Flow Vaults unlock cross-chain, multi-asset restaking for any project on EigenCloud.

→ Restake any ERC-20, including L2 assets
→ Launch vaults w/ deposit tokens,… pic.twitter.com/D5xjvWWNxT

— EigenCloud (@eigenlayer) July 14, 2025

Flow Vaults changes restaking by enabling cross-chain and multi-asset restaking. This removes previous restrictions limiting restaking to ETH, allowing users to restake any ERC-20 token, including layer-2 tokens like ARB. Flow Vaults expand restaking’s scope, making it more versatile and rewarding.

Renzo has also been actively buying back REZ from the secondary market.

Recently, they purchased 1.38 million REZ and sent them to a compounding staking pool.

Weekly Rev Share Stats

38.31% APY
7.07 ETH / ~$18k
1,384,615 REZ

Every week, the protocol uses ETH revenue to buy back $REZ and then auto-compound to $ezREZ stakers.

Stake your REZ https://t.co/mzSXyomAi5

— Renzo (@RenzoProtocol) July 13, 2025

The buyback program reduces the circulating supply, creating upward price pressure if demand spikes.

DISCOVER: 17 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis

REZ Crypto Jumps 70% in 2 Days: What Is Renzo? Why Is It Rallying?

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The XRP price is currently dipping into a crucial $2 liquidation zone amid rising short pressure. As long positions get liquidated and shorts pile in, a subsequent surge in open interest hints at a looming short squeeze. A clean sweep of $2 has analysts believing that it may be the trigger XRP needs to ignite a fresh price rally. 

XRP Price Eyes $2 Sweep To Fuel Next Rally

A new technical analysis by Cryptoinsightuk on X (former Twitter) reveals that XRP has recently retraced into a key liquidity zone near the $2 mark. This move has raised speculation about a possible bullish reversal that could set the stage for a major price rally. 

According to the analyst’s 1-hour XRP chart, the altcoin’s drop into this liquidity zone was not random—it aligned perfectly with a dense liquidity cluster near the $2 level, as shown on the heatmap data. This zone acted as a magnet for price action, where a significant number of buy and sell orders were concentrated, suggesting that market participants have been targeting this area for some time.

As XRP entered this key liquidity zone, Cryptoinsightuk revealed that a large number of long positions were liquidated. This spike, displayed primarily on the liquidation indicator at the bottom of the chart, confirms that many traders were caught in overly aggressive long positions and forced out of the market as prices dropped. This led to severe sell pressure, allowing XRP to reach the targeted liquidity range more swiftly.

Simultaneously, XRP’s Open Interest (OI) metric began to rise. Rather than showing a decline, which would indicate traders exiting the market, Open Interest moved upward, suggesting that new positions were being opened despite the downturn. 

Typically, an increase in OI during a dip into a high-liquidity zone is seen as a warning sign for short sellers. If the price reverses from here, those short positions could be forced to close rapidly, triggering a short squeeze. Such a move could lead to a fast and aggressive price rally as shorts are liquidated and buy pressure intensifies. 

Overall, the $2 price point has become more than just a psychological barrier but a convergence of liquidation events, rising open interest, and concentrated liquidity. A clean sweep below this level could complete the liquidity hunt, shake out remaining weak hands, and potentially set the stage for a bullish reversal in the XRP price. 

Next Stop For XRP: Explosive Rise To $46?

While some analysts take a conservative stance on XRP’s near-term price, market experts like Egrag Crypto stand out with a bold forecast of a $46 all-time high by 29 September 2025. The analyst predicts that XRP’s bullish run could begin in July, projecting three ambitious short-term price targets before the end of the year. 

Once it breaks bearish barriers, XRP is expected to rally to an initial target of $12, marking a 500% increase from its price of $2.18 at the time of the analysis. Following this, Egrag Crypto predicts an average target of $24 for XRP before a potentially explosive rise to the $46 peak, which represents a whopping 2,500% surge from current levels. 

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin’s (BTC) recent range play resolved bullishly early Monday, shifting focus to the $90,000-$92,000 range, which was previously a strong support zone.

The leading cryptocurrency by market value rose past $87,000, convincingly breaking out of a week-long consolidation between $83,000 and $86,000. The renewed willingness among the bulls to lead the price action indicates the resumption of the recovery from the April 7 lows under $75,000.

It also means potential for a continued move higher to the $90,000-$92,000 range, which acted as the floor, arresting price drops from December to early February. The support zone was eventually breached in late February, spurring a rapid decline to under $75,000.

The range breakout is seen on the hourly chart (left).

It follows the recent invalidation of the bearish trendline, characterizing the sell-off from record highs, as seen on the daily chart. BTC has also surpassed the 30-day exponential moving average (EMA) of price highs, indicating a bullish shift in momentum.

The focus, therefore, is on the $90,000-$92,000 range, the former support zone from early this year. Those tracking moving averages should note that the 200-day simple moving average (SMA) is now located at $88,245.

The bullish outlook risks invalidation should prices fall all the way back to $85K by the day’s end (UTC).

Billionaire “Bond King” Jeffrey Gundlach says the stock market is struggling to sustain rallies due to a massive expense draining the government’s coffers.

In a new CNBC interview, the CEO of investment management firm DoubleLine Capital points out that the S&P 500 has given up most of its gains since the Federal Reserve began its rate-cutting cycle in Q3 2024.

According to Gundlach, risk assets like equities tend to witness upside bursts when the Fed slashes interest rates. With the S&P500 plummeting to a level last seen in September of last year, Gundlach says the bearish price action indicates a deeper issue is troubling the stock market.

“Since the Fed starting cutting rates back in September, bond yields are still up and the stock market is doing very, very little since then. So this is an unusual time period where the Fed cutting rates by 100 basis points and talking about two more, we have not seen a rally in the 10-year Treasury bond…

We have also not really had a rally in stocks since the Fed started cutting interest rates. There’s that old phrase ‘Don’t fight the Fed,’ which is supposed to mean that if the Fed is cutting, you’re supposed to stay long risk but it sort of isn’t working this time.

I think that’s going to continue to be a theme as we move forward in time.

I think that we really have a big problem… with this interest expense. It’s over $3 billion a day in interest expense on the Treasury debt.”

Interest expense is the interest paid by the US government to holders of its $36.22 trillion national debt. The nonpartisan, nonprofit Committee for a Responsible Federal Budget (CRFB) says data from the Treasury Department showed that the government paid $882 billion in interest costs during the 2024 fiscal year, which ran from October 1st, 2023 to September 30th, 2024.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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