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

Market Overview

U.S. stocks rose broadly on Tuesday, with technology stocks performing exceptionally well. The Dow Jones index has risen for four consecutive trading days, with a certain tech giant's market value once again surpassing another tech giant, reclaiming the title of the world's most valuable publicly traded company, with a current market value of $3.45 trillion. Hong Kong stocks related to stablecoins continue to strengthen, with many related companies' stock prices surging.

A renowned economist predicts that the Federal Reserve may delay interest rate cuts until December, but may choose to implement a substantial cut of 50 basis points at that time. He believes that the impact of tariffs on inflation will be one-off and will not have a lasting effect on the economy. In addition, the OECD has significantly lowered its growth forecast for the U.S. economy to 1.6% and warned that certain trade policies are dragging down global economic development. Investors are closely monitoring the upcoming May employment report, which will be released this Friday, to assess the economic situation.

An analyst stated that 2025 will be a key milestone for generative AI, transitioning from technological breakthroughs to widespread application. Currently, AI is mainly used in the financial sector for traditional asset management and quantitative trading, but in the future, it is expected to better adapt to the digital asset market through methods such as optimizing market-making strategies. In addition, 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 fluctuating upward trend in the short term. In terms of the political environment, both Poland and South Korea have elected presidents who support cryptocurrencies. Although market news is largely positive, the price of Bitcoin has not seen a significant rise. The head of digital asset research at a certain bank has issued a warning that 61 listed companies collectively hold 673,800 Bitcoins, accounting for 3.2% of the total supply. If the price of Bitcoin falls below 22% of these companies' average purchase price, it could trigger forced selling by the companies. This indicates that while the corporate holding trend has increased buying pressure, it also lays the groundwork for potential selling risks.

Ethereum has shown relative stability, oscillating around $2600 for 25 days. The U.S. Ethereum ETF has increased its holdings for 12 consecutive days, with a certain asset management company owning approximately $4 billion in ETH through the ETF. Analysis indicates that Ethereum may be approaching a critical turning point, facing a choice between upward or downward movement. On-chain data shows that a suspected whale or institution has purchased 108,278 Ether (approximately $283 million) through OTC methods. An OTC wallet of a certain digital asset company has withdrawn 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.

Analysts point out that Ethereum is struggling to maintain $2500 as a support level and solidify it as the lower end of the macro range between $2500 and $4000. The current trend is similar to a certain period in mid-2021, and if successful, Ethereum may enter a new round of range-bound trading.

A research institution pointed out that despite Bitcoin continuously breaking historical highs to attract institutional funds, the altcoin market has stagnated, with ongoing token unlocks and a lack of new narratives becoming constraints to development. The performance of Solana tokens has been poor recently, fluctuating around $150. Its meme coin platform plans to raise $1 billion through a token sale, with a valuation of $4 billion. Although the official confirmation of the specific sale date has not been made, the platform's social media accounts hinted that it may go live within two weeks, an action that could put pressure on the entire Solana ecosystem facing capital outflows.

It is worth noting that early this morning, there were reports that a certain political figure would launch a branded crypto wallet and trading application to encourage supporters to buy Meme coins, which led to a temporary rise of 40% in a certain platform's token. However, the parties involved 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%, Ether 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 for BTC, 35.96 million USD for Ether, and 8.75 million USD for SOL.
• BTC medium to long-term trend channel: upper boundary line (106908.13 USD), lower boundary line (104791.13 USD)
• Medium to long-term trend channel for Ether: Upper channel line ($2588.05), lower channel line ($2536.80)

ETF Flow (as of June 3)

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

Today's Outlook

• A trading platform will launch a new project.
• A trading platform will delist multiple perpetual contracts on June 5.
• Multiple projects will undergo token unlocks.
• The US May ADP employment figures and initial jobless claims will be released.

Top 500 Market Cap Largest Rise

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

Hot News

• Ethereum spot ETF saw a net inflow of 109 million USD yesterday, marking the 12th consecutive day of net inflows.
• It is suspected that a certain institution purchased over 100,000 Ether through OTC and now holds nearly 140,000 Ether.
• 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 since its establishment.
• A Spanish coffee chain plans to invest over $1.1 billion to purchase Bitcoin, transforming into a "Bitcoin-first" company.
• CEO of a certain company: Sold off cryptocurrency at the end of last year, making a profit of 570 million yuan, of which 80% was distributed as dividends to shareholders.
• A certain project's airdrop will start in June, with 25% released immediately and the remaining 75% unlocked linearly in the form of NFTs.
• A certain company plans to issue 2.5 million preferred shares to increase its Bitcoin holdings.
• A certain project plans to raise $1 billion through token sales, with a valuation of $4 billion.
• Ethereum co-founder claims to be in talks with sovereign wealth funds for infrastructure collaboration