Today we will focus on the macro data CPI and the results of the Federal Reserve's monetary policy tonight. It is expected that there will be large instantaneous fluctuations tonight, but yesterday's Nasdaq index was still strong. The important reason is that Apple's stock price rose 7% yesterday. A series of innovative technologies were released at yesterday's WWDC developer conference, especially the new AI technology platform. It was also announced that GPT will be integrated into SIRI. AI technology is constantly being widely developed and applied by technology giants. In the future, AI will be integrated into each of us. A global AI storm is blowing.
The Bitcoin ETF had a total net outflow of 200 million US dollars on June 11, almost all of which were outflows. Grayscale was the leader with 121 million US dollars, followed by ARKB with 56.5 million US dollars. The rest were small outflows, and there was no inflow at all.
In order to win votes, Trump has been constantly giving confidence and support to cryptocurrency practitioners. This time, he met with representatives of mining companies and promised that Washington would support miners. Therefore, whether he can successfully take office in the subsequent elections will have a great impact on us, and his approval rating may also more or less affect the trend of the big pie.
According to on-chain data, the balance of Bitcoin wallets on exchanges has reached a four-year low in recent times. More than 100,000 bitcoins have been withdrawn from exchanges recently, but a large part of them should still come from ETFs. Of course, this data can also prove that large investors are definitely in an accumulation state, which will not affect short-term prices. However, after a period of repeated wash-outs and shocks, when enough chips have accumulated, the time will come and the second wave of bull market will truly come.
The AI Three Musketeers announced today the revised date of the ASI token merger, which was delayed from June 13, 2024 to July 15, 2024. Fetch.ai said that this adjustment is to meet the logistical needs and technical dependence of exchanges, validators and broader ecosystem partners. However, the AI sector as a whole has been falling, and the current market value after the merger should be reduced by 20%. The delay is not actually a negative factor. The merger after the price and market value are relatively low may be much less than the selling pressure at a high level.
We will see the result after tonight. There is a chance of reversal. The current support level of Bitcoin is moving down to 65,000. Once the bottom of yesterday is broken, it will have to touch 65,000. 65,000 is just near MA120. Since 56,000 supported it once on May 1, if it cannot hold the MA120 lifeline, the medium-term upward trend will also be destroyed. So whether it is a downward relay or a rebound today depends mainly on the good or bad data.
The exchange rate of CNY20 has returned to 0.05, and the sentiment seems to have been somewhat dampened.
In fact, you can place orders or add to your positions today to try to see if you can get some pins at low levels. Compared with the pins at 413, many copycats still have 20% room for decline. It does not mean that they will fall by another 20%, but it is still possible to try your luck and defend yourself.
Today's Bitcoin Fear Greed Index: 72 (Greed)
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