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ICE cotton futures prices rose as the USDA's key report is about to be released. How big will the gap be between market expectations and reality?

According to Odaily, economist and gold advocate Peter Schiff stated in his latest comments that the market generally believes it is “almost impossible” for Bitcoin to fall to $20,000, but this judgment lacks basis. Schiff pointed out that Bitcoin fell below the $20,000 level about three and a half years ago, which is not too distant, so it is not possible to rule out the possibility of returning to that price range. It is not uncommon for assets to experience significant retracements within a short timeframe in financial markets. He further stated that since Bitcoin is more volatile than most stocks, a similar magnitude of correction is “completely reasonable” in the event of macro or liquidity environment changes, and the market should not underestimate the downside risk.

On June 30, The New York Times reported that several informed officials and diplomats revealed that Oman has submitted a formal proposal to the United States and Western allies to jointly charge a toll on vessels passing through the Strait of Hormuz, aimed at supporting the safety and management of the waterway. The proposal reportedly draws on operational models from the Strait of Malacca and the Singapore Strait. Regional diplomats indicated that the fees would be voluntary, but Iranian officials claimed that payment would be mandatory. Currently, the U.S. has received Oman's proposal and expressed concerns about the arrangement, stating it will continue consultations with Oman. U.S. Secretary of State Marco Rubio previously stated that the U.S. opposes any form of charges for navigation through the Strait of Hormuz, including fees, tolls, or donations, arguing that the pre-war status of free navigation should be restored. The report notes that future management arrangements for the Strait of Hormuz remain a significant topic in U.S.-Iran peace negotiations. Iranian Deputy Foreign Minister Kazem Gharibabadi stated that Iran will soon initiate talks with Oman to discuss matters including the fee mechanism and route adjustments.