1. This week's large unlock tokens
In the next 7 days, there will be single large unlocks (over $5 million) including APT STRK IMX SEI MOVE, and linear large unlocks (single-day unlocks over $1 million) for SOL WLD TIA DOGE TAO AVAX SUI DOT IP MORPHO NEAR ETHFI JTO, with a total unlock value exceeding $341 million.
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2. Nasdaq applies to add XRP, SOL, ADA, XLM to the cryptocurrency index
On June 2, 2024, Nasdaq submitted a rule change application (19b-4) to the SEC to include XRP, SOL, XLM, and ADA in the digital asset benchmark index. The proposal aims to allow Hashdex Nasdaq Cryptocurrency Index U.S. ETF (NCIQ) to transition from the existing Nasdaq Cryptocurrency U.S. Settlement Price Index (NCIUS) to the broader Nasdaq Cryptocurrency Index (NCI). Currently, the NCI includes 9 cryptocurrencies, and if the SEC approves the application, the ETF will be allowed to invest in these currencies. The SEC is expected to make a final decision by November 2, 2025.
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3. Strategy announced the re-purchase of 1,045 bitcoins
Strategy announced the re-purchase of 1,045 bitcoins at a cost of approximately $110 million, with a unit price of about $105,426. As of June 8, Strategy holds a total of 582,000 bitcoins, with a cumulative purchase cost of approximately $40.79 billion, and an average purchase price of about $70,086.
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4. QCP: Bitcoin volatility under pressure, bullish expectations delayed to September
QCP Capital points out that Bitcoin's continued sideways movement has pushed implied volatility close to a one-year low, but actual volatility is even lower, indicating a lack of direction in the market. Currently, there is a lack of clear catalysts; if BTC fails to effectively break above $110K or falls below $100K, it is expected to remain in consolidation. ETF inflows have slowed, and futures positions have decreased, resulting in a fatigue in market sentiment. Investors are generally postponing bullish options from July to September, reflecting delayed bullish expectations. Key data to watch this week includes US CPI and PPI.
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5. Australian police, in collaboration with multiple departments, dismantled an interstate money laundering network involving an amount of up to 190 million Australian dollars.
Australian police, in collaboration with multiple departments, dismantled an interstate money laundering network involving an amount of up to 190 million Australian dollars, most of which was transferred into cryptocurrency. Police have currently seized approximately 21 million Australian dollars in assets, including properties, bank accounts, vehicles, and around 170,000 Australian dollars in cryptocurrency assets. The organization laundered money by mixing legal and illegal cash through a security company, using antique car dealerships, promotional companies, and cryptocurrency trading channels. The case is still under investigation.
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6. Wu discusses this week's macro indicators and analysis: US CPI and the first meeting of the China-US economic and trade consultation mechanism
Summary
Last week's US May employment data was weak, the Federal Reserve's Beige Book shows economic slowdown, and the European Central Bank lowered interest rates; this week focuses on US May CPI and the first meeting of the China-US economic and trade consultation mechanism, among others.
Last week's review
In May, the seasonally adjusted non-farm payroll in the United States recorded 139,000, the lowest since February, exceeding the market expectation of 130,000, with the unemployment rate remaining at 4.2% for the third consecutive month.
In May, the ADP employment number in the United States increased by 37,000, the lowest level since March 2023, far below the expected 114,000, and the previous value was revised to 62,000.
The European Central Bank announced its latest interest rate decision, lowering the rate by 25 basis points as expected, reducing the deposit facility rate from 2.25% to 2%, marking the eighth rate cut in a year.
The Federal Reserve's Beige Book shows that economic activity in the United States has slightly declined in recent weeks since the last report, indicating that tariffs and high uncertainty are having a cascading effect on the economy.
The number of initial jobless claims in the United States for the week ending May 31 was 247,000, expected to be 235,000, and the previous value was revised from 240,000 to 239,000.
The US ISM Services PMI for May stood at 49.9, significantly below the expected 52, with the previous value in April being 51.6.
Key events & indicators this week
June 9
China's May CPI year-on-year (09:30)
He Lifeng visited the UK from June 8 to 13 and held the first meeting of the China-US economic and trade consultation mechanism.
June 10
China's May M2 money supply year-on-year
June 11
US May unadjusted CPI year-on-year (20:30)
June 12
The number of initial jobless claims in the United States for the week ending June 7 (10,000) (20:30)
US May PPI year-on-year (20:30)
June 13
The Federal Reserve released the (US Quarterly Financial Accounts Report) (00:00)
