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In the market, BTC continued to decline and broke 68k. However, the upward movement in May has achieved the tactical goal: the 5-day line was pulled over the 30-day line, and the downward trend of the 30-day line in April was reversed, turning to an upward trend. USDT7.25 still did not catch up with USD/CNH 7.27.

In terms of the US dollar index, it still fluctuated slightly in the 104-105 range. Gold is still hovering around $2340. Minneapolis Fed Chairman Kashkari said on CNBC on Tuesday that the Fed should hold off on cutting interest rates until substantial progress is made in inflation. He mentioned that if the inflation rate does not continue to fall, the Fed may even consider raising interest rates. Meanwhile, data on Tuesday showed that US consumer confidence unexpectedly improved in May, which strengthened the hawkish outlook for the Fed's policy. The market currently believes that December may be the starting point of the easing cycle, which is much later than the previously predicted rate cut in September. Traders are now focusing on Friday's PCE data, the Fed's preferred inflation indicator, which is expected to be in line with the CPI, indicating that prices have not accelerated. At the same time, the growing risk of geopolitical conflict continues to support the appeal of safe-haven assets.

HODL15Capital reported that BlackRock's IBIT has held 288,670 BTC, surpassing Grayscale GBTC's 287,450, becoming the ETF with the largest number of BTC. In addition, the spot BTCETF has accumulated a net inflow of more than $13.7 billion since its launch. Among them, BlackRock ranked first, with a cumulative net inflow of more than $16.4 billion. I have to say that BlackRock's sales ability is really strong. It's been less than half a year. By the way, BlackRock also created a FoF (fund of funds) for IBIT. It is reported that two funds under BlackRock added IBIT to their investment portfolios in Q1. In this way, BlackRock can leverage the sales force of other investment products and form a joint force with IBIT. Cryptomushao also promotes itself: BlackRock Strategic Income Opportunities Portfolio, a fund under BlackRock, increased its holdings of Bitcoin through IBIT, worth about $3.56 million.

Grayscale's latest poll shows that about 47% of American voters expect to include cryptocurrency B as part of their investment portfolio, highlighting the importance of cryptocurrency B in the upcoming November election. From the fact that Trump, such a shrewd person, turned 180 degrees to support cryptocurrency B, it is known that the penetration rate of encryption among American voters is not low.Wen Wei Po reported that the Hong Kong government will maintain close communication with the Securities and Futures Commission, allowing the Securities and Futures Commission to process all applications from virtual asset platforms as soon as possible, so that citizens and investors have more secure investment options. It's only a few days away from the June 1 deadline? Will there be a sudden turn? As the internal reference speculated yesterday, will a few special exemptions be granted?