In early June, the European Central Bank and the Bank of Canada may take the lead in launching a rate cut cycle. The Bank of Canada's interest rate meeting is on June 5, and the European Central Bank's interest rate meeting is on June 6. U.S. data showed that the number of JOLTs job vacancies in the United States in April was 8.059 million, falling to the lowest level in more than three years, consistent with the trend of a slowing labor market. After the data was released, the Federal Reserve's interest rate swaps showed that the Federal Reserve's pace of rate cuts in 2024 would accelerate.
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According to a report by verification company Sumsub, up to 88% of deep forgery cases in 2023 occurred in the cryptocurrency industry. Between 2022 and 2023, global deep forgery incidents increased 10 times, with North America topping the list. The U.S. Securities and Exchange Commission (SEC) is reviewing some transactions of call options on the U.S. stock GameStop. OpenAI CEO Sam Altman has invested in more than 400 companies, with holdings worth at least $2.8 billion. Musk said his artificial intelligence startup xAI will spend at least $9 billion to buy 300,000 Nvidia B200A/chips. CoinShares weekly report shows that digital asset investment products have inflows for the fourth consecutive week, totaling $185 million, with inflows of $2 billion in May, and inflows of more than $15 billion so far this year. CryptoQuant data shows that Kraken's BTC reserves have fallen to 2018 levels, currently holding 122,300 BTC, and ETH reserves have fallen below 1 million for the first time since early 2016. Fortune magazine reported that Base brought Coinbase $56 million in revenue last quarter. State Street Bank announced the reorganization of its digital asset team. The bank plans to provide cryptocurrency custody services, and cryptocurrencies and tokenized assets will be more integrated into the financial system. Global x will reduce the fees for BTC and ETH ETPs launched in Europe to zero.
Bernstein analysts said that after Biden vetoed the SAB 121 repeal bill, the changing narrative behind the SEC's unexpected approval of the ETH ETF has lost credibility. Biden vetoed the bill to repeal SAB 121, indicating that the SEC's decision was more pragmatic to avoid legal disputes. Kaiko analysis shows that MtGox addresses moved 141,000 BTC last week in preparation for creditor repayments on October 31. This activity triggered market selling pressure. At present, the BTC market depth has increased by about 30%, reaching the level before the FTX crash, which may help ease potential price fluctuations. According to glassnode data, there have been only 5 trading days with strong BTC prices in the past 90 days, while in previous cycles, this number reached 18 to 26 days, indicating that the current market may be more cautious relative to historical bull markets. On Thursday, U.S. data showed that the number of JOLTs vacancies in the United States in April was 8.059 million, lower than the expected value of 8.355 million and lower than the previous value of 8.488 million. U.S. job openings fell to their lowest level in more than three years in April, consistent with a gradual slowdown in the labor market, a trend that Fed members hope will continue. After the data was released, the Fed's interest rate swaps showed that the Fed's pace of rate cuts in 2024 accelerated, and the Pie broke through $70,000. The use of the Fed's reverse repurchase facility (PPR) fell below $400 billion for the first time since April to $387.069 billion. As the Fed continues to shrink its balance sheet, the use of reverse repurchase tools represents the remaining excess liquidity in the financial system. It is expected that once the use of reverse repurchase agreements approaches zero, the Fed will have to stop quantitative tightening.
This Friday, the U.S. announced the non-farm payrolls and unemployment rate. Bank of America said: It is expected that non-farm payrolls increased by 178,000 last month, and the unemployment rate may remain at 3.9%. If this estimate is roughly correct, then the job market will be in the "Goldilocks range" that is neither too hot nor too cold. On June 3, the net inflow of BTC spot ETF in the United States exceeded 105 million US dollars, with net inflows for 15 consecutive trading days. According to Into TheBlock data, BTC is in the range of $66,900 to $68,900, and more than 2 million addresses have accumulated a total of 1.1 million BTC. David Krause, a professor at Marquette University in the United States, believes that the Wisconsin Investment Board (SWIB) purchased $164 million in BTC spot ETFs in the first quarter, which may just be a test of market reaction. It is expected that SWIB and other U.S. pension plans may continue to follow up. SWIB manages assets of approximately $156 billion, and BTC ETFs account for 0.1% of its portfolio. Analysts said that looking ahead to June, this week's PMI report and employment report are expected to provide more clarity for the US economy. If the economic slowdown is confirmed and the prospect of lower interest rates is brought, it may become a catalyst for BTC to break through the historical high of $73,000 in March. Since its launch nearly five months ago, BlackRock's IBIT has inflowed a total of $16.6 billion and Fidelity FBTC has inflowed a total of $8.9 billion, accounting for 26% and 56% of the inflow of funds for BlackRock and Fidelity ETF asset management, respectively. BTC is in the range of $66,900 to $68,900, and more than 2 million addresses have accumulated a total of 1.1 million BTC. In early June, the European Central Bank and the Bank of Canada may take the lead in launching a rate cut cycle. Coupled with the stimulus of ETH's spot ETF at the end of June, BTC is entering a 2020-style slow bull market. After the Fed cuts interest rates, it will be the climax of the bull market. #MegadropLista #新币挖矿 #BTC走势分析