JPMorgan Chase: Gold and silver prices are expected to be $2,600/ounce and $34/ounce respectively next year; Bank of America and Citigroup released reports respectively, gold prices may reach $3,000/ounce in the next 12-18 months, and they believe that the Fed's interest rate cut may lead to capital inflows into physically backed gold ETFs. (Currently gold prices are $2,319/ounce and silver prices are $28.88/ounce)

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At the annual meeting of the Investment Funds Association, Hong Kong Financial Secretary Wong Wai-lun said that Hong Kong is actively implementing a number of measures to further consolidate Hong Kong's position as an international financial center, including: first, continue to improve the listing system; second, further improve the liquidity and efficiency of the stock market; third, strive to expand and deepen the interconnection between the capital market and the mainland and other parts of the world; fourth, strive to promote the development of asset wealth management business; fifth, Hong Kong is also rapidly advancing the development of the virtual asset industry. South Korea approved the "Virtual Asset User Protection Act Implementation Order", which stipulates the specific content of the "Virtual Asset User Protection Act". The law will take effect on July 19. Its promulgation is aimed at protecting virtual asset users and establishing a healthy market order. The law defines the definition of virtual assets and the exclusion of virtual assets, and stipulates the obligations of virtual asset operators to safely store and manage user deposits and virtual assets. CoinShares weekly report shows that digital asset investment products have outflows for the second consecutive week last week, totaling US$584 million, and a total decrease of US$1.2 billion together with last week. Hut 8 announced that it has received a strategic investment of US$150 million from Coatue. QCP Capital stated that due to the increase in break-even prices after the halving, miners are under tremendous selling pressure, and miners' BTC holdings have fallen to the lowest level in the past 14 years, with total reserves down 50,000 from the beginning of the year. On June 25, 10x Research stated that BTC is currently severely oversold, and many analysts recommend buying on dips, while altcoins seem to be performing relatively steadily. 10x Research's Greed and Fear Index is close to its historical low, and the market may be close to a stage low.

Nomura Securities and its digital asset subsidiary Laser Digital surveyed 547 Japanese institutional investors in April. 54% of investors will buy crypto assets in the next three years. Only a quarter of them have a positive impression of cryptocurrencies, and 52% are neutral. Diversification is considered the most important driver of investment. 62% of investors believe it is a benefit. Two-thirds believe that 2-5% of cryptocurrency allocation is optimal, and 17% believe that the proportion is higher. Robert Kiyosaki, author of "Rich Dad Poor Dad", said: "BTC is plummeting, most people should sell, and I am waiting to buy more. All markets have ups and downs. Many people make a lot of money by trading the market, which means buying low and selling high. My strategy is similar to Warren Buffett's buy and hold." On June 25, the Nasdaq rebounded 1% to 17,718 points, the big cake rebounded 2% to $62,000, and the ether rebounded 4% to $3,400. In the past two weeks, the net outflow of US spot BTC ETFs reached $1.298 billion, of which Grayscale GBTC had the largest net outflow, reaching $517.3 million. BlackRock IBIT was the only ETF with net inflow, with a net inflow of $43.1 million in the past two weeks. The net inflow of BTC ETFs has been negative for seven consecutive trading days, the longest since May. Matt Hougan, Chief Information Officer of Bitwise, said: "In the history of BTC, various mechanisms have artificially locked in future demand in advance and put it in a "lock box". The biggest problem is GBTC, which has locked in tens of billions of dollars of future demand in advance. It believes that the market has solved most of the excess supply and has seen GBTC's assets stabilize. When it is completely solved, it will be very exciting for new demand to be more directly converted into price increases."

IG Markets analyst Tony Sycamore said that the MtGox compensation may not have as much impact on BTC as expected. It is expected that about half of the BTC (worth about $4.5 billion) may enter the market in July. A large part of the so-called MtGox selling pressure has been reflected in the current market conditions. The repayment has been going on for a long time. He does not believe that the current selling will fall further. The strong support of the 200-day moving average is a reason to remain optimistic in the coming weeks. EMC Labs said that short-term traders as a whole have entered a floating loss state. Yesterday, 28,000 BTC were sold at a loss. The fear and greed index has fallen to the "fear" range. The mid-term adjustment of BTC is likely to end. The market will rebound at $58,400. In the extremely panic situation yesterday, 9% of the targets in the top 500 currencies have started to rebound. The trend of these projects can be focused on in the future. JustinSun continues to increase his holdings of 1,449 ETH through the 0xDBf address. In the past four days, he has accumulated 15,415.5 ETH through the OxDBf address, with an average price of $3,478. "Mr.100" has increased his holdings of 113.96 BTC again since May 19. U.S. Treasury Secretary Yellen said she did not see the "basis" for a U.S. recession, and she expects the Fed to reach its 2% inflation target next year, which is faster than the Fed's monetary policy makers predict. Fed President Daly said that if inflation gradually declines and the labor market rebalances slowly, then the Fed can gradually adjust its policy; if inflation falls rapidly or the labor market weakens beyond expectations, it will be necessary to lower the policy rate; if inflation falls slower than expected, interest rates must remain at a high level for a longer period of time; the rebound in the U.S. stock market reflects enthusiasm for the future. JPMorgan Chase: Gold prices are expected to reach $2,600 per ounce next year; Bank of America and Citigroup have released reports that gold prices may reach $3,000 per ounce in the next 12-18 months (currently $2,319 per ounce). They believe that the Fed's rate cut may lead to capital inflows into physically backed gold ETFs. Anxiety is useless. After the extreme rise, longs are exhausted, and after the panic selling, shorts are exhausted, they rise, switching again and again. Cyclical endurance is time. People can only see the initial lows and the final highs. They know the pain during this period.After this wave of shorts is exhausted, a new rise will begin. Just hold on. #Mt.Gox将启动偿还计划 #美联储何时降息？