After the release of US PCE data, the market expects the Federal Reserve to cut interest rates at least once in 2024 | Binance Morning Report (June 1)

● The annual rate of the US core PCE price index in April remained at 2.8%

According to BlockBeats, on May 31, the annual rate of the U.S. core PCE price index in April was 2.8%, in line with expectations and the previous value of 2.8%.

● After the release of the US PCE data, the market expects the Federal Reserve to cut interest rates at least once in 2024

According to Jinshi, after the release of the US PCE data, the interest rate swap market pricing remained stable. The market expects that the Federal Reserve will cut interest rates at least once by 2024.

● Founder of Satoshi Action Fund: US President Biden has officially vetoed the SAB 121 bill

According to Golden Finance, Dennis Porter, founder of Satoshi Action Fund, said on social media that President Biden has officially vetoed the SAB 121 bill.

● NYSE Group President confirms the success of Bitcoin ETF and the liquidity it brings

According to Odaily Planet Daily, Lynn Martin, president of the New York Stock Exchange Group, said in an interview with CNBC that the success of the Bitcoin ETF and the liquidity it brings are indisputable.

● Viewpoint: BTC and ETH derivatives will promote the integration of cryptocurrencies into traditional finance

According to ChainCatcher, TradFi executives said that BTC and ETH derivatives will play a key role in integrating cryptocurrencies into traditional finance (TradFi) and driving them to record highs. Pierce Crosby, general manager of TradingView, pointed out that derivatives have always been an important part of cryptocurrency trading, but high fees and slippage have had an adverse impact on traders.

Giovanni Vicisoso, head of global cryptocurrency products at CME Group, believes that a spot Bitcoin ETF will attract investors who are reluctant to use centralized exchanges and help Bitcoin price discovery. Jim Iuorio, managing director of TJM Institutional Services, said the Federal Reserve may have to cut interest rates and ease policy, which is good for stocks and Bitcoin.

Crosby also mentioned that large institutional investors are changing the narrative that cryptocurrencies are just an adjunct to tech stocks, and that although the market is sometimes affected by internal black swan events, the crypto market will eventually recover.

● CryptoQuant CEO: Bitcoin market sentiment is similar to mid-2020, with $1 billion added to new whale wallets every day

According to Odaily Planet Daily, CryptoQuant founder and CEO Ki Young Ju said that the current atmosphere in the Bitcoin market is similar to that in mid-2020. At that time, BTC hovered around $10,000 for 6 months, and on-chain activity was active, which was later revealed to be over-the-counter transactions. Now, despite lower price volatility, on-chain activity is still active, with $1 billion added to new whale wallets every day.

● NFT global sales fell 54% in May, with BAYC, Mad Lads and CryptoPunks seeing the biggest declines

According to Odaily Planet Daily, CryptoSlam data shows that the blockchain-based digital collectibles market slowed down in May. In the past 30 days, global sales of NFTs were $624 million, and overall NFT sales fell 54% compared with April. Among the top 10 NFT series, Solana-based Mad Lads, Ethereum-based series CryptoPunks, and Bored Ape Yacht Club (BAYC) fell the most. Among them, BAYC's sales fell the most, by 54%, Mad Lads' sales fell by 44%, and CryptoPunks' sales fell by 41%.

● Mt.Gox returned $9 billion worth of Bitcoin ten years after bankruptcy, and the market is worried about price pressure

According to Odaily Planet Daily, the collapsed trading platform Mt.Gox is about to return about $9 billion in Bitcoin ten years after filing for bankruptcy, which has made cryptocurrency investors increasingly worried that this will suppress prices. Bitcoin prices fell earlier this week after Mt.Gox's Japanese trustee began moving tokens in digital wallets. However, large creditors and long-term market participants do not foresee a lasting impact on Bitcoin prices. Many plan to either keep the tokens or gradually sell them.

● The Hong Kong Monetary Authority warns the public to be vigilant against fraudulent activities carried out in its name

According to Odaily Planet Daily, the Hong Kong Monetary Authority recently said that it has noticed that some criminals have used projects related to it, such as the Digital Hong Kong Dollar (e-HKD) Pilot Program and the Cross-Border Wealth Management Connect Mechanism, to conduct fraudulent activities. The HKMA solemnly reminds the general public, whether they are mainland residents or Hong Kong residents, to be vigilant and guard against being deceived. The HKMA has received inquiries from the public, claiming that a company has been selected for the Digital Hong Kong Dollar Pilot Program and will release digital Hong Kong dollars, equity and dividends to attract public investment. The HKMA has reported the incident to the Hong Kong police.