US stocks are all pumping, Ethereum continues to fluctuate, possibly repeating the mid-2021 market conditions.

Market Overview

U.S. stocks closed higher across the board on Tuesday, with technology stocks performing exceptionally well. The Dow rose for the fourth consecutive trading day, as one tech giant's market capitalization once again surpassed that of another giant, reclaiming the title of the world's highest market capitalization publicly traded company, currently valued at $3.45 trillion. Hong Kong stocks related to stablecoins continued to strengthen, with several relevant companies' stock prices rising significantly.

An economist predicts that the Federal Reserve may delay its interest rate cut until December, but may choose to cut rates significantly by 50 basis points at that time. He believes that the impact of tariffs on inflation will be one-time and will not continuously affect the economy. In addition, the OECD has significantly lowered its growth forecast for the U.S. economy to 1.6% and warned that a certain politician's trade policy is dragging down global economic development. Investors are closely watching the employment report for May, which is set to be released this Friday, to assess the economic situation.

An analyst stated that 2025 will be a key turning point for generative AI, transitioning from technological breakthroughs to widespread applications. Currently, AI is primarily used in the financial sector for traditional asset management and quantitative trading, but it is expected to better adapt to the digital asset market in the future by optimizing market-making strategies, among other methods. In addition, building AI-enabled Web3 infrastructure, such as smart contract security audits and digital content assetization, will promote the collaborative development of AI and the Web3 ecosystem.

Cryptocurrency Market

The Bitcoin market is experiencing intensified volatility, showing a short-term upward trend. In terms of the political environment, both Poland and South Korea have elected presidents who support cryptocurrency. Although there are many positive market news, the price of Bitcoin has not seen a significant rise. The head of digital asset research at a certain bank has issued a warning that currently, 61 listed companies hold a total of 673,800 Bitcoins, accounting for 3.2% of the total supply. If the price of Bitcoin falls below 22% of these companies' average purchase price, it may trigger forced sell-offs by the companies. This indicates that while the corporate holding trend has increased buying pressure, it also lays the groundwork for potential sell-off risks.

Ethereum has shown relative stability, oscillating around $2,600 for 25 days. The U.S. Ethereum ETF has seen continuous accumulation for 12 days, with a certain asset management company holding approximately $4 billion in ETH through the ETF. Analysis indicates that Ethereum may be approaching a critical turning point, facing a choice between upward or downward movement. On-chain data shows that a suspected whale or institution has purchased 108,278 Ether (approximately $283 million) through OTC. An analyst pointed out that Ethereum is working hard to establish $2,500 as a support level, and solidify it as the low point of the macro range between $2,500 and $4,000. The current trend resembles a certain period in mid-2021; if successful, Ethereum may enter a new phase of range-bound trading.

A research institution pointed out that despite Bitcoin continuously refreshing its historical highs and attracting institutional funds, the altcoin market has stagnated, with ongoing token unlocks and a lack of new narratives becoming bottlenecks for development. Solana tokens have recently performed poorly, fluctuating around $150. Its meme coin platform plans to raise $1 billion through token sales, with a valuation of $4 billion. Although the official confirmation of the specific sale date is still pending, the platform's social media accounts hinted that it might launch within two weeks, which could put the entire Solana ecosystem under pressure of capital outflow.

It is worth noting that early this morning, there was news that a certain political figure would launch a branded cryptocurrency wallet and trading app to encourage supporters to buy Meme coins. This news led to a brief pump of 40% for a certain token. However, related parties later denied any connection to the project, causing the token to retrace nearly 20% from its peak.

Market Data

• Bitcoin: $105,723 (Year-to-date +12.73%), Daily Spot Trading Volume $25.243 billion
• Ethereum: $2,616.39 (Year-to-Date -21.69%), Daily Spot Trading Volume is $14.58 billion
• Fear and Greed Index: 57 (Neutral)
• Average GAS: BTC: 2.63 sat/vB ETH: 4.36 Gwei
• Market share: BTC 63.1%, Ether 9.6%
• 24-hour BTC long-short ratio: 1.0247
• Sector rise and fall: AI down 2.1%; Meme down 1.67%
• 24-hour liquidation data: A total of 68,138 people were liquidated globally, with a total liquidation amount of $148 million, including $25.52 million in BTC liquidations, $35.96 million in Ether liquidations, and $8.75 million in SOL liquidations.

ETF Flow (as of June 3)

• Bitcoin ETF: +$378 million (ending a 3-day outflow)
• Ethereum ETF: +$109 million (net inflow for 12 consecutive days)

Today's Outlook

• A trading platform will launch Lagrange (LA)
• A trading platform will delist multiple perpetual contracts on June 5.
• Multiple projects will undergo token unlocks
• The US ADP employment figures and initial jobless claims for May will be released.

Top 500 Market Cap Biggest Rise

0×0.ai (0×0) rose 67.69%, Acet (ACT) pumped 28.59%, Alchemist AI (ALCH) rose 23.39%, Magic Eden (ME) rose 22.03%, Animecoin (ANIME) rose 21.70%.

Hot News

• Ethereum spot ETF saw a net inflow of $109 million yesterday, marking the 12th consecutive day of net inflow.
• It is suspected that a certain institution purchased over 100,000 Ether through OTC and now holds nearly 140,000 Ether.
• A certain Bitcoin spot ETF has entered the top 25 ETFs in the United States, with assets reaching 72.4 billion USD in just 1.4 years since its establishment.
• Spanish coffee chain Vanadi plans to invest over $1.1 billion to acquire Bitcoin, transforming into a "Bitcoin-first" company.
• Meitu CEO: Sold off cryptocurrency at the end of last year, making a profit of 570 million yuan, of which 80% was distributed as dividends to shareholders.
• The Sonic airdrop will start in June, with 25% released immediately and the remaining 75% unlocked linearly in the form of NFTs.
• A certain project plans to issue 2.5 million shares of "Stride" preferred stock to increase its Bitcoin holdings.
• A certain project plans to raise $1 billion through a token sale, with a valuation of $4 billion.
• Ethereum co-founder claims to be in talks with sovereign wealth funds for infrastructure cooperation