U.S. data on Thursday showed that the annualized quarterly rate of real GDP in the first quarter was revised to 1.3%, lower than the initial value of 1.6%, and significantly lower than the growth rate of 3.4% in the fourth quarter of 2023. The annualized quarterly rate of the core PCE price index preferred by the Federal Reserve in the first quarter was revised to 3.6%, lower than the previous expectation of 3.7%. The inflation data was generally lower than expected, and there were many signs that the U.S. economy may be weakening. Analyst Tom Lee said: Due to seasonal factors, the average increase in U.S. stocks in June was 3.9%.
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The U.S. Treasury Department will release its first risk assessment on non-fungible tokens (NFTs) on the 29th local time. It also warned that NFTs are highly vulnerable to fraud and scams and are likely to be stolen. Tom Emmer, the majority whip of the U.S. House of Representatives, said that the "lame duck session" at the end of the year is the best time to pass major cryptocurrency legislation. Although cryptocurrencies have made some progress in Congress, Emmer pointed out that legislation faces major obstacles in the Senate, which hopes to have more say on major cryptocurrency bills. Canada is expected to adopt the International Crypto Asset Reporting Framework (CARF) for taxation by 2026. CARF will impose new reporting requirements on crypto asset service providers (CASPs), such as cryptocurrency exchanges, crypto asset brokers and dealers, whether individuals or corporate entities. Cathie Wood's ARK Invest invested $60 million in Musk's xAI. Analysis platform Nansen said that DBS Bank holds 173,000 ETH (about $650 million). DBS Bank is the largest bank in Singapore with $491.9 billion in assets. A DBS spokesperson denied "holding 173,700 ETH" and declined to comment when asked by analyst Edward Wilson whether the address was one the bank used to hold funds for its crypto clients.
Gemini, which was affected by the Genesis bankruptcy case, said that more than a year after the end of Gemini Earn, Earn customers have received $2.18 billion worth of physical digital assets, a 232% increase from when withdrawals were stopped in November 2022. Glassnodle Weekly Report, the selling pressure of long-term BTC holders has cooled significantly, and these investors are returning to the form of hoarding coins, starting to hoard again for the first time since December 2023. Analysts pointed out that BTC's price trend in the past three months has been milder than in previous bull cycles. Glassnode Research Report stated that the selling pressure from "diamond hands" is only half of the previous bull market top, and BTC long-term holders (LTH) continue to resist the urge to take profits, even though BTC price trends are close to $70,000 and the average profit of LTH addresses is 3.5 times. So far, LTH addresses have not sold BTC at a rate that makes the current bull market unsustainable. Robinhood lawyers said in a document filed with the Miami Federal Court on May 28 that they are finalizing a settlement agreement with the investor group and expect to complete the settlement and dismiss the lawsuit in the next two weeks. Investors sued Robinhood for stopping trading in certain meme stocks in 2021, including Gamestop. BlackRock submitted a revised S-1 document for the spot ETH ETF, with the stock code ETHA, which will be listed on the Nasdaq. The media said: BlackRock may purchase $10 million in ETH to provide seed funds for its ETH ETF. Bloomberg ETF analyst Eric Balchunas said that BlackRock's revised S-1 is a "good sign", and the U.S. Securities and Exchange Commission (SEC) may conduct another round of "fine-tuning" comments. It is a reasonable possibility to launch an ETH ETF at the end of June; analyst Balchunas believes that the probability of approval will be around July 4, and early approval is unlikely.
Fidelity Spot ETH ETF has been listed on the website of the Depository Trust & Clearing Corporation (DTCC) in the United States, with the code FETH and the creation/redemption column marked as D. (Listing the "standard process" for preparing for the launch of a new ETF on the DTCC website does not mean that the ETF has obtained any regulatory approval or other approval process results) Lynn Martin, president of the New York Stock Exchange (NYSE), said that if the regulatory environment for cryptocurrency trading becomes clearer, the NYSE will consider providing cryptocurrency trading services. The US-listed spot BTC ETF has accumulated $58 billion in assets, showing the market's strong demand for regulated crypto products. The US spot BTC ETF has had net inflows for 11 consecutive days, with a scale of 30,345 BTC◇On May 29, there was a net inflow of $28.3 million. Forbes said: The inflation rate of BTC after halving is now 75% lower than the current US inflation rate and 72% lower than the annual issuance of gold. BTC currently generates about 450 per day, with an inflation rate of about 0.84%, while the latest inflation data in the United States in May was 3.4%, and the annual inflation rate of gold is between 1% and 3%. Each halving of BTC will reduce the new supply, tighten the market supply, and may increase the value of the asset over time. Data released on Thursday showed that the annualized quarterly rate of real GDP in the first quarter of the United States was revised to 1.3%, lower than the initial value of 1.6%, and significantly lower than the growth rate of 3.4% in the fourth quarter of 2023. The annualized quarterly rate of the core PCE price index preferred by the Federal Reserve in the first quarter was revised to 3.6%, lower than the previous expectation of 3.7%. Analyst Bespoke Investment Group said that overall, there were no major surprises, and on the positive side, the inflation data was generally lower than expected. There are also many signs that the US economy may be weakening.
Fed's Bostic said that the inflation path will fluctuate, but the overall trend is downward. Many different inflation indicators seen on the dashboard are returning to the target range. It is expected that the fourth quarter of this year will be the time to really consider and prepare for rate cuts. Tom Lee, a well-known Wall Street analyst and head of research at Fundstrat, said that after the S&P 500 rose 5% in May, it is expected to rise another 4% in June. Catalysts include: seasonal factors, the average increase of the US stock market in June was 3.9%; the core PCE data for April released on Friday, and the CPI data for May released on June 12, inflation will continue to decline, and the market's expectations for the number of rate cuts by the Federal Reserve before the end of the year have begun to rise. The record $6 trillion of "wait-and-see cash" in US money market funds, Nvidia's amazing performance last week may prompt investors to use this cash to buy stocks. On Friday, the US released the core PCE price index for April. Previous data showed that the US core CPI in April fell from 3.8% to 3.6%. The second quarter may be the turning point for US inflation, from recovery to decline. According to the cyclicality of the big cake, the currency market is also expected to see a turning point this summer. #贝莱德IBIT比特币持有量反超灰度GBTC #meme板块关注热点 #BTC走势分析
