Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), recently said that he expects the Ethereum ETF S1 to be approved this summer. This news is of great significance to the market and has a profound impact on the price and market sentiment of Ethereum.

First, the approval of the Ethereum ETF will greatly enhance the market legitimacy and attractiveness of Ethereum. As an investment tool, ETFs can easily allow more traditional investors to enter the cryptocurrency market. Previously, the approval of the Bitcoin ETF has caused huge market fluctuations and price increases, and the Ethereum ETF is expected to have a similar effect. Secondly, from a regulatory perspective, this decision of the SEC will further clarify the regulatory framework of the cryptocurrency market. Chairman Gensler previously had a more cautious attitude towards the cryptocurrency market, emphasizing the strengthening of market supervision and the protection of investor interests. However, this statement shows that the SEC is gradually accepting and regulating the cryptocurrency market. This is a positive signal for the healthy development of the entire cryptocurrency market.

CryptoQuant Research Director Julio Moreno pointed out that on June 12, demand for Ethereum increased significantly, with long-term holders accumulating 298,000 ETH in 24 hours, worth approximately $1.34 billion. This purchase marked the second-highest level on record and was only 6% below the record set on September 11, 2023. On September 11, 2023, when the price of Ethereum fell below $1,600, long-term holders purchased 317,000 ETH.

This data has important implications for the market. First, it indicates strong long-term bullish sentiment in the market. The increase in holdings by long-term holders is often seen as a signal of confidence in future price trends. Their large purchases indicate that they expect the price of Ethereum to rise in the future, thereby obtaining higher returns.

Secondly, this purchase behavior will support the short-term price of Ethereum. A large amount of buying demand increases the liquidity of the market and may also drive up prices. Especially in the current market environment, any large-scale increase in holdings may trigger a positive reaction from the market. In addition, the increase in holdings by long-term holders also reflects their confidence in the Ethereum ecosystem and technological development. As the world's most widely used smart contract platform, Ethereum's ecosystem continues to expand and its application scenarios continue to increase. These factors provide a solid foundation for the long-term value of Ethereum.

Bitcoin and Ethereum options with a nominal value of about $2 billion are about to expire, and the potential impact on the market cannot be ignored. Tomorrow, $1.32 billion of Bitcoin options will expire, with a Put/Call Ratio of 0.5 and a maximum pain point of $69,000. At the same time, Ethereum options with a nominal value of $670 million will also expire, with a Put/Call Ratio of 0.37 and a maximum pain point of $3,650.

From this data, we can see that there are some differences in the market's views on the two major cryptocurrencies. First, the Put/Call Ratio of BTC options is 0.5, indicating that the bullish sentiment in the market is strong. However, the maximum pain point is $69,000, showing that the market is under greater pressure at this price point. This means that if the Bitcoin price approaches this level at expiration, many options will become worthless, triggering price fluctuations. On the other hand, the Put/Call Ratio of ETH options is 0.37, indicating that the market has a stronger bullish sentiment on Ethereum. The maximum pain point is $3,650, which appears to be relatively conservative in the recent market fluctuations. However, this does not mean that the price of Ethereum will rise steadily, and the volatility of the market is still high.

The U.S. spot Bitcoin ETF saw a net outflow of 3,313 coins yesterday, worth $226 million.

BTC: It closed with a small negative line yesterday, and the volume was a bit large. The US spot Bitcoin ETF had a net outflow yesterday, indicating that there is still a certain amount of selling pressure on the upper side. In the short term, it is still in a large-scale adjustment. Patiently wait for the confirmation of the retracement of the May moving average position. The upward trend is far from over, so there is no need to panic.

ETH: Strong short-term trend linked to Bitcoin.

TON: A strong currency, deviating from the 5-day moving average in the short term. It may fall back to the 5-day moving average today without breaking it, and finally continue to move upward.

ONDO: The leader of the RWA track, a strong currency. It is now above the 30-day moving average, and the daily MACD golden cross may form, and it may choose to go against the current in the short term.

UNI: It closed with a hammer line yesterday, and the long lower shadow line indicates that funds are involved below. Considering its decentralized security positive factors, it is conducive to the rise of UNI in the short term.

NOT: Yesterday, the market closed with a small negative line and received support from the 5-day moving average and the 20-day moving average. It may see an oversold rebound in the short term.

Today’s hot topics: RWA; Solana ecosystem.

The Fear Index is currently at 74 (Extreme Greed) #美国5月CPI超预期回落 #美联储何时降息？ #MegadropLista