Data released on Friday shows: the US unemployment rate in May is 4.2%, matching the expected value of 4.20%, unchanged from the previous value of 4.20%. The non-farm payrolls for May are 139,000, higher than the expected value of 130,000, and the previous value was revised from 177,000 to 147,000. The market expects the Fed to cut rates twice this year in September and December. Trump stated: 'Mr. Too Late' Powell of the Fed is a disaster! Europe has cut rates 10 times, while the US has not done it once.
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Reporter Eleanor Terrett stated: A DeFi roundtable hosted by the SEC will be held next Monday, and on Tuesday, the House will hold a nomination hearing on the cryptocurrency market structure bill (CLARITY Act). The US Senate confirmed that Fed Governor Michelle Bowman has been promoted to deputy supervisor of regulation, giving her a voice in both banking access for cryptocurrencies and stablecoin issuance. The banking sector has long been a pain point for the cryptocurrency industry; previously, the Fed and the other two major banking regulatory agencies took a highly cautious approach to the cryptocurrency field but lifted previous restrictions on banks providing services to the cryptocurrency industry in April this year. El Salvador President Nayib Bukele held talks with White House digital asset policy advisor Bo Hines, discussing cooperation between the US and El Salvador in the fields of BTC and digital assets. Uber CEO Dara Khosrowshahi stated: They are considering using stablecoins to reduce operating costs and believe that the development of stablecoins is very promising, especially for global companies. On June 6th, the cryptocurrency fear and greed index was 45 (down from 57 yesterday), indicating that market sentiment has dropped into the fear zone.
According to glassnode data, BTC holders have returned to an accumulation mode after a brief inclination to sell, with the accumulation behavior strongest among those holding 10 - 100 BTC and those holding less than 1 BTC, both reaching the highest possible score of 1.0. The number of large BTC futures traders at the Chicago Mercantile Exchange (CME) reached a record high of 217, a 36% increase since the beginning of the year, indicating a significant increase in institutional investor interest in BTC. QCP Capital stated that the ADP employment and ISM data released in the US were below expectations, and risk assets showed strong resilience. Trump criticized the Fed for lagging behind the European Central Bank, calling for the permanent abolition of the debt ceiling, as market expectations dominated by fiscal policy continue to heat up, and structural fundamentals still support market performance. With the accumulation of fiscal catalysts, optimism for potential BTC price increases remains. CMC Markets analyst Carlo Pruscino stated that the Fed is expected to maintain interest rates this month, but an unexpected rate cut could help push BTC to new highs. If the next two rate cuts come earlier, it could drive BTC up to $112,000. The Fed has enough data to make a decision, but due to Trump's tariff policy, the Fed still faces uncertainty. GreeksLive analyst Adam stated that today saw the largest historical block trade of cryptocurrency options, with a total nominal value of $1.19 billion, as block traders believe that June's price increase will be limited, while the third quarter may see significant market movements. The recent market lacks hot topics, but from a long-term perspective, various positive factors are still being continuously released, in line with the recent mainstream thoughts in the market.
On June 5, the US BTC spot ETF saw an outflow of $278.4 million, while the ETH spot ETF saw an inflow of $11.3 million. Since May 11, BlackRock's ETH spot ETF ETHA has accumulated an additional 214,000 ETH, valued at about $560 million. Swiss Sygnum Bank released a market outlook stating: The estimated supply of BTC liquidity has decreased by 30% over the past 18 months, with ETF institutions and corporate reserves being the main accumulation force. Given the strong demand backdrop, liquidity exhaustion may lay the groundwork for price increases in the coming months. At the same time, turbulence in the US Treasury market and a weakening dollar are further reinforcing BTC's safe-haven attributes. The decline in US Treasury prices and the expansion of US debt are driving investors back to gold and BTC. Trump Media Group (Nasdaq, NYSE Texas: DJT) stated: It has submitted an S-3 registration statement to the US Securities and Exchange Commission to initiate a $2.3 billion BTC reserve plan, described as 'one of the largest BTC reserve trades by a public company'. Stablecoin issuer Circle listed on the New York Stock Exchange on Thursday, with major underwriters including JPMorgan, Citigroup, and Goldman Sachs, coinciding with US lawmakers pushing for stablecoin regulatory legislation. The listing triggered circuit breakers twice, with an IPO price of $31, closing at $83.23 on Thursday; on Friday, it rose over 40% to $119, with a market capitalization of $27 billion. The Hong Kong government (on June 6) published in the Gazette the announcement of the (Stablecoin Ordinance (Effective Date)), designating August 2, 2025, as the date for the (Stablecoin Ordinance) (Chapter 656) to come into effect. The Secretary for Financial Services and the Treasury in Hong Kong, Xu Zhengyu, stated: In response to the latest developments in the virtual asset market, the Treasury will issue a second policy declaration on the development of virtual assets, outlining the next policy vision and direction, encouraging local and international enterprises to explore innovations and applications of virtual asset technology.
Musk and Trump publicly clash. Trump: The debt ceiling should be completely abolished to avoid economic disaster. Musk criticizes the (One Big Beautiful Bill Act) pushed by Trump, stating: This massive and ridiculous congressional spending bill is extremely disgusting, and the huge overspending will make America a debt slave; the 'huge and ugly bill' will increase the deficit to $2.5 trillion, cutting all the crazy spending increases in the 'huge and ugly bill' to prevent America from going bankrupt! Data released on Friday shows: the US unemployment rate in May is 4.2%, matching the expected value of 4.20%, unchanged from the previous value of 4.20%. The non-farm payrolls for May are 139,000, higher than the expected value of 130,000, and the previous value was revised from 177,000 to 147,000. After the non-farm employment data was released, traders reduced their bets on Federal Reserve interest rate cuts, expecting the Fed to cut rates twice this year in September and December. Fed's Harker stated: In the face of uncertainty, the Fed may still cut rates later this year. Trump stated: 'Mr. Too Late' Powell of the Fed is a disaster! Europe has cut rates 10 times, while the US has not done it once; just cut 100 basis points directly, ignite the rocket fuel! If 'Mr. Too Late' Powell's Fed starts cutting rates now, the US can significantly lower the short- and long-term interest rates of the upcoming debt, he is making America pay a huge price, borrowing costs should be much lower! On Friday, US stock indices opened, with the Nasdaq up 1% during the session, S&P 500 index up 0.8%, Dow Jones index up 0.6%, BTC up 1.1%, and ETH down 2.8%. The S&P 500 index surpassed 6000 points for the first time since February, while the cryptocurrency market has not recovered from the decline during Musk and Trump's clash. US lawmakers are pushing for stablecoin regulatory legislation, with stablecoin issuer Circle listed on the US stock market, and enthusiasm in traditional markets remains strong, the positive momentum of stablecoins is beneficial for the medium- to long-term cryptocurrency market. After the employment data was released, Trump again pressured Powell to cut rates as soon as possible. Employment data remains stable, with little change in outlook, still stuck in the wait before the Fed starts cutting rates, with the next expected rate cuts in September and December. Hope for a smooth summer.#比特币
