US stocks are rising across the board, Ethereum continues to fluctuate, possibly repeating the mid-2021 market trend.

Market Overview

U.S. stocks generally rose on Tuesday, with the technology sector performing particularly well. The Dow Jones Industrial Average rose for the fourth consecutive trading day, as a certain chip giant's market capitalization once again surpassed that of a certain software giant, reclaiming its position as the world's highest-valued publicly traded company, currently valued at $3.45 trillion.

In the Hong Kong stock market, stablecoin concept stocks remain active. A certain fintech company's stock price surged by 16%, a certain holding company rose by over 14%, and a certain digital payment company increased by over 5%. The rise in the stock price of a certain holding company is mainly attributed to its early investment in a certain stablecoin issuer, and the company's recent application for a U.S. listing has become a driving factor.

At the same time, an economist from a certain international bank predicts that the Federal Reserve may delay interest rate cuts until December, but may choose to cut rates significantly by 50 basis points at that time. He believes that the impact of tariffs on inflation will be temporary and will not affect the economy in the long term. In addition, the OECD has significantly lowered its growth forecast for the U.S. economy to 1.6% and warned that the trade policies of a certain former political figure are dragging down global economic development. Investors are closely watching the employment report for May, which is set to be released this Friday, to assess the economic situation.

An analyst stated that 2025 will be a key point for generative AI to transition from technological breakthroughs to widespread application. Currently, AI is mainly used in the financial sector for traditional asset management and quantitative trading, but it is expected to better adapt to the digital asset market in the future by optimizing market-making strategies. Furthermore, building AI-enabled Web3 infrastructure, such as smart contract security audits and digital content assetization, will promote the synergistic development of AI and the Web3 ecosystem.

The Bitcoin market is experiencing increased volatility, showing a short-term trend of oscillating upwards. In terms of the political environment, both Poland and South Korea have elected presidents who support cryptocurrency. Despite the market news being mostly positive, there has been no significant rise in Bitcoin prices. A digital asset research director at a certain bank warned that currently, 61 publicly listed companies hold a total of 673,800 Bitcoins, accounting for 3.2% of the total supply. If Bitcoin prices fall below 22% of these companies' average purchase price, it could trigger forced sell-offs by the companies. Referring to the case in 2022 where a mining company sold 7,202 Bitcoins when prices were 22% below cost, if Bitcoin falls below $90,000, approximately half of the companies' holdings may face risk of loss. This indicates that while the influx of corporate holdings has increased buying pressure, it has also buried potential sell-off risks.

Ethereum has been relatively stable, oscillating around $2600 for 25 days. The US Ethereum ETF has seen continuous increases in holdings for 12 days, with an asset management company owning approximately $4 billion in ETH through the ETF. Analysis shows that Ethereum may face a critical turning point, with options for upward or downward movement. On-chain data indicates that a suspected whale or institution has purchased 108,278 Ether (approximately $283 million) via OTC. An OTC wallet of a digital asset company withdrew 89,000 ETH (approximately $234 million) from exchanges in the past 12 hours and subsequently transferred a total of 108,278 ETH to a specific address. An analyst pointed out that Ethereum is trying to maintain $2500 as a support level and consolidate its position as the low point of the macro range between $2500-$4000. The current trend is similar to a certain position in mid-2021; if successful, Ethereum may enter a new range-bound market.

A research institution pointed out that despite Bitcoin continuously breaking historical highs attracting institutional funds, the altcoin market remains stagnant. Ongoing token unlocks and a lack of new narratives are hindering development. A certain public chain token has recently performed poorly, fluctuating around $150. Its meme coin platform plans to raise $1 billion through token sales, with a valuation of $4 billion. Although the officials have not confirmed a specific release date, the platform's social media accounts hinted at a possible launch within two weeks, which could lead to outflow pressure on the entire ecosystem. Notably, early this morning, there were reports that a former political figure would launch a brand of cryptocurrency wallet and trading application, encouraging supporters to buy Meme coins. This news caused a brief 40% rise in a certain NFT platform token. However, the family of that individual later denied any association with the project, causing the token to pull back nearly 20% from its peak.

Key Data (As of June 4, 12:00 HKT)

• Bitcoin: $105,723 (year-to-date +12.73%), daily spot trading volume $25.243 billion
• Ethereum: $2,616.39 (Year-to-date -21.69%), daily spot trading volume is $14.58 billion
• Fear and Greed Index: 57 (Neutral)
• Average GAS: BTC: 2.63 sat/vB ETH: 4.36 Gwei
• Market Share: BTC 63.1%, ETH 9.6%
• 24-hour BTC long/short ratio: 1.0247
• Sector rise and fall: AI down 2.1%; Meme down 1.67%
• 24-hour liquidation data: A total of 68,138 people were liquidated globally, with a total liquidation amount of 148 million USD, including 25.52 million USD in BTC liquidations, 35.96 million USD in Ether liquidations, and 8.75 million USD in SOL liquidations.
• BTC medium to long-term trend channel: upper channel line (106908.13 USD), lower channel line (104791.13 USD)
• ETH medium to long-term trend channel: upper channel line (2588.05 USD), lower channel line (2536.80 USD)

Note: When the price is above the upper and lower bounds, it indicates a medium to long-term bullish trend; conversely, it indicates a bearish trend. When the price is within the range or repeatedly passes through the cost range in the short term, it indicates a bottoming or topping state.

ETF Flows (As of June 3)

• Bitcoin ETF: +$378 million (ending a 3-day outflow)
• Ethereum ETF: +$109 million (12-day net inflow continues)

Today's Preview

• A trading platform will launch Lagrange (LA)
• A trading platform will delist multiple perpetual contracts on June 5.
• Multiple projects will have token unlocks in the near future.
• The ADP employment figures for May in the US and the initial jobless claims for the week ending May 31 will be released.

Top 500 Market Cap Largest Rise

0×0.ai (0×0) rise 67.69%, Acet (ACT) rise 28.59%, Alchemist AI (ALCH) rise 23.39%, Magic Eden (ME) rise 22.03%, Animecoin (ANIME) rise 21.70%.

Hot News

• The Ethereum spot ETF saw a net inflow of $109 million yesterday, marking the 12th consecutive day of net inflows.
• It is suspected that a certain institution has purchased over 100,000 ETH through OTC and currently holds nearly 140,000 ETH.
• A certain asset management company's Bitcoin spot ETF has entered the top 25 ETFs in the United States, with assets reaching 72.4 billion USD in just 1.4 years.
• A project party transferred 150 million tokens and sent 20 million of them to a certain address.
• A Spanish coffee chain plans to invest over $1.1 billion to purchase Bitcoin, transforming into a "Bitcoin-first" company.
• A certain former political figure's family denies involvement in a specific wallet project, and a certain NFT platform responds that it is an official collaboration.
• CEO of a certain image application: Cleared cryptocurrency holdings at the end of last year, profiting 570 million yuan, of which 80% was distributed as dividends to shareholders.
• A certain stablecoin issuer transferred over 37,000 BTC to a certain capital, worth nearly 4 billion dollars.
• A certain project's airdrop will start in June, with 25% released immediately and the remaining 75% unlocked linearly in the form of NFTs.
• The CEO of a certain project has stepped down, and a former executive of a certain trading platform has taken over.
• A certain company plans to issue 2.5 million preferred shares to increase its holdings of Bitcoin.
• A certain project plans to raise $1 billion through a token sale, with a valuation of $4 billion.
• Ethereum co-founder says he is in talks with sovereign wealth funds for infrastructure collaboration