Looking back at the market analysis of June written half a month ago, there is basically no big difference. Let's take a look at the BTC urpd data. It is basically the same as before, with a wide range of 66,000-72,000. As long as there is no big negative sentiment to hit the price, it is basically not a big problem. It still maintains fluctuations.
BTC ETF data, first of all, this data cannot affect the market changes for the time being, it can only capture the sentiment of American investors, and the increase in holdings has not been large in recent times. It has become flat. Everyone pays attention to the trend of BTC in the early morning Beijing time on weekdays, especially after 4 o'clock, the trading volume is very obvious.
Let’s look at the data of stablecoins. As shown in the figure below, USDT is still doing well. It has been growing very slightly in the past month, far less than the big growth from the beginning of the year to April.
As for USDC, it is still fluctuating and falling.
Basically, it is also clearly reflected in the BTC market. Boring and annoying volatility.
At present, BTC is still more affected by the macro data information of the United States. The CPI will be released tomorrow night on the 12th and the Federal Reserve interest rate meeting will be held in the early morning of the 13th. (The interest rate in June will remain unchanged, mainly depending on the speech of Mr. Bao)
BTC fell from 69,600 this morning to a low of 66,700, and is now around 67,100, highlighting a cautious risk-averse attitude. If the CPI data is positive tomorrow night and Powell's speech is also positive, it should hit 72,000 again. Otherwise, let's see if the 66,000 position will break through, so be cautious with the contract in the next two days. Let's take a look at #ETH. Not long ago, the SEC chairman said that it might take some time for the S-1/S-3 of the ETH spot ETF to pass, as shown in the figure below.
I don’t know if it will be delayed until the end of the month or even the next month.
The current price of ETH is still cost-effective. Of course, it still depends on the performance of BTC, that is, the macro situation in the next two days.
The best scenario is that the CPI and speeches in the next two days are both good for the market, and then the S-1/S-3 approval of ETH spot ETFs will slowly start to be hyped next week. Then there is still room for fun, and copycats, especially those with good flexibility, are still expected, otherwise it will be very tiring.
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