Bitcoin ETF was launched on June 4, which happened to be the 100th trading day after the ETF was launched. A total of 887 million US dollars flowed in, with Fidelity FBTC flowing in 370 million and BlackRock IBIT flowing in 275 million. What can't be bought at 70,000? Institutions are buying so much, and some people even say what's the point of buying 70,000? ? This is the meaning. Of course, the macro aspect is definitely closely related to the expectation of interest rate cuts returning to people's attention.

UNISWAP released a countdown launch message on X yesterday, saying that there was a super news exposure, I don't know what it is, but the price of UNI has risen by 20%. This UNI is actually a love-hate relationship. Last time, it said that it would empower tokens, but the proposal was not passed. The project party took the opportunity to sell a lot of goods. I don't know what it will do this time. Is the project party going to ship again? The future space of UNI should still be extremely limited.

BNB finally stopped selling at 600 and became 700. Today, the ecosystem on the BNB chain has also started to rise with the leader. BNB has surpassed SOL and returned to the third place. The market value has exceeded 100 billion. This time it is not due to the launchpad, but a real rise. As for the reason, there are different opinions. Some say that whoever enters will be the endorsed coin, but I think it may come from the hype of MEME. Maybe BNB chain will also start to hype MEME. $WHY has increased tenfold in two days. It may be to compete with SOL on MEME.

With the rise of the big cake, the Bitcoin ecosystem has also risen. Babylon should be the most exposed Bitcoin pledge ecosystem that has not yet been launched. The project has raised hundreds of millions of US dollars. I don’t know how much big cake it can absorb. At present, the test is round after round, and it is estimated that the big guys will be launched soon.

Market Interpretation

I mentioned yesterday that 70,000 is not a resistance for Bitcoin at all. The pressure is at 71,000-72,000. Yesterday, we were just looking for a posture to support the sky. The pillar came in the evening. This round is the real money of ETFs buying upwards, so the shoulder on the right side should be considered solid at present. 66,600 is the shoulder support of this round. It seems that there is only an increase on the right side. There is no other way to choose. A new high is just around the corner. But when it breaks through 72,000 or breaks through the historical high, I expect there will be a pin action to shake off the fleas on the body and continue to reach a new high.

Bitcoin is still flat. According to analysts, ETF will bring $4 billion of inflow to Bitcoin. Let's see how high it can go.

In terms of altcoins, BN is the world today. BNB is unique, but basically all altcoins, especially Bitcoin ecology, are rising to varying degrees. SOL and ecology have also made some efforts, but they are slightly inferior to BNB ecology.

Today's Bitcoin Panic Greed Index: 75 (Greed)

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