On May 28, the Nasdaq index closed above 17,000 points for the first time. Nvidia's stock price exceeded $111 billion, with a total market value of $2.8 trillion, only $100 billion less than Apple. Goldman Sachs data shows that the so-called seven sisters of the US stock market currently account for about 20.7% of the total net exposure of hedge funds to single stocks. ECB board member Knott said: According to the forecast in March, the ideal situation is to cut interest rates 3-4 times this year; Holzmann said: At most three times.
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The Hong Kong Securities and Exchange Commission said that in the coming months, it will conduct on-site inspections of the business of applicants for virtual asset trading platform licenses to ensure that platforms waiting for licenses comply with regulatory requirements. If violations are found, the application will be rejected promptly, and other regulatory actions will be taken according to the situation. The one-year transition period for the virtual asset trading platform licensing system will end on June 1. The Securities and Exchange Commission reiterated that all platforms operating in Hong Kong must obtain a license or have applied for a license. The latest data shows that there are two platforms that have obtained a license and 18 have applied for approval. The Hong Kong Treasury Bureau: Hong Kong's virtual assets have made good progress in all aspects, with an average daily trading volume of ETFs reaching US$6.4 million. PayPal obtained a New York State crypto trust license. PayPal did not respond to the specific purpose of this trust license before the release. CoinShares' weekly report shows that digital asset investment products have inflows for the third consecutive week, totaling US$1.05 billion, and the cumulative inflow so far this year has set a record high of US$14.9 billion. QCP Capital analysts said: ETH front-end trading volume may still be 15-20 times higher than BTC, and ETH's tilt may still favor call options, but the potential breakthrough of ETH prices will have to wait until the S-1 approval becomes clearer. According to IntoTheBlock data, the amount of ETH flowing into the exchange on May 25 reached 140,660, a new high since January. Semler Scientific, Inc., a US medical company, announced that it has purchased 581 BTC, and its board of directors has adopted BTC as its main treasury reserve asset. After Semler Scientific borrowed MicroStrategy's BTC strategy, its stock price rose 30%. On May 28, the U.S. District Court for the State of Utah dismissed the Debt Box case, requiring the U.S. Securities and Exchange Commission (SEC) to pay approximately $1 million in attorney fees and litigation costs and $750,000 in receiver fees and litigation costs.
Reuters said that Musk's AI company xAI was valued at $24 billion after the latest round of financing. On May 27, xAI completed a $6 billion Series B financing. According to a research report by brokerage firm Bernstein, based on its cryptocurrency price forecast, the ETF market size of BTC and ETH is expected to grow to $450 billion, and the funds flowing into cryptocurrency ETFs will exceed $100 billion in the next 18-24 months. It is predicted that the BTC cycle high will reach $150,000 in 2025, and the target price at the end of this year is $90,000. Jamie Coutts, a former analyst at Bloomberg News, said that the best time to allocate altcoins is when both the smart contract platform index and the altcoin seasonal index are on an upward trend. Currently: The SCP index trend is bullish and may soon exceed the March high. The first condition is met; the altcoin seasonal index drops to 26%, and the second condition is not met; BTC dominance continues. According to the cryptocurrency and liquidity cycle, the altcoin seasonal signal may appear in a few weeks. On May 28, BlackRock IBIT became the world's largest BTC fund, accumulating nearly $20 billion in assets since its listing in the United States at the beginning of this year. BlackRock IBIT, with a net inflow of $101.9 million on Tuesday, holds $19.68 billion in BTC, surpassing Grayscale GBTC's $19.65 billion. Fidelity Investments' FBTC ranks third with a size of $11.1 billion. Since its listing, BlackRock IBIT has increased its holdings of $16.5 billion in BTC, while Grayscale GBTC has outflowed $17.7 billion during the same period. According to documents submitted to the U.S. Securities and Exchange Commission (SEC), two funds managed by BlackRock, BSIIX and MAWIX, purchased the company's BTC spot ETF (IBIT) in the first quarter of this year. On Tuesday, the Nasdaq index closed above 17,000 points for the first time, setting a new high. Nvidia's stock price broke through $111 billion, a record high, with a total market value of $2.8 trillion, only $100 billion behind Apple and $400 billion behind Microsoft. Goldman Sachs data shows that hedge funds' exposure to US technology giants has hit a record high. The so-called Seven Sisters of the US stock market, "Nvidia, Apple, Amazon, Meta, Alphabet, Tesla and Microsoft", currently account for about 20.7% of hedge funds' total net exposure to single US stocks. The market value of Nvidia alone has increased by about US$470 billion.
ECB board member Knott said: According to the forecast in March, the most ideal policy is to cut interest rates 3-4 times this year; Holzmann said: It is expected that the interest rate will be cut twice in 2024, and at most three times. Wells Fargo: The ECB is expected to cut interest rates by 100 basis points this year. BNP Paribas believes that the Bank of England will cut interest rates for the first time in August. UBS said: The ECB is expected to cut interest rates by 25 basis points in June, and then start a quarterly easing cycle, with a cumulative interest rate cut of 75 basis points in 2024 and a cumulative interest rate cut of 100 basis points in 2025; the easing cycle that the Federal Reserve may start later this year will also drive more funds into gold ETFs. UBS raised its gold price forecast for the end of the year to $2,600 per ounce (currently $2,346) and raised its S&P 500 index target for the end of 2024 from 5,400 to 5,600. Institutions have raised their expectations for gold prices and stock indices. On the traditional institutional side, BlackRock’s Bitcoin holdings surpassed Grayscale for the first time, becoming the largest BTC fund. According to documents submitted to the U.S. Securities and Exchange Commission (SEC), two funds managed by BlackRock, BSIIX and MAWIX, purchased the company’s BTC spot ETF (IBIT) in the first quarter of this year. Bernstein, a well-known brokerage firm, raised its expectations for BTC’s cycle high in 2025 to $150,000, and believed that the target price at the end of this year would be $90,000. In the expectations of interest rate cuts and ETH spot ETFs, the longer the time is delayed, the higher the possibility of a soft landing of this wave of corrections, and the closer to the time of interest rate cuts, the more sufficient the reasons for the bull market will appear. The bull market is preheating, the value is discovered late, and the local dog is restless first. This has always been a common phenomenon before entering a new stage of the bull market (such as the Bitcoin BRC craze at the beginning of last year and the meme craze at the beginning of this year). Each restlessness opens a staged bull market. #MegadropLista #meme板块关注热点 #贝莱德IBIT比特币持有量反超灰度GBTC