CoinVoice has learned from 4E that as of June 16, 16:00 (UTC+8), Bitcoin (BTC) is reported at $106,380, having retreated from a high of $110,300 over the past four days, with a low of $103,700, overall remaining in a weak oscillation range. Although there was an attempt to rebound above $107,000 in the short term, the upward momentum is weak, and bearish sentiment remains dominant.
The crypto market is under simultaneous pressure. Ethereum (ETH) has fallen below $2,800, and mainstream cryptocurrencies like SOL and AVAX have once retraced over 8%. The total market capitalization has dropped to about $3.18 trillion, with risk appetite remaining low. On-chain data shows that retail trading enthusiasm has weakened, and institutional capital inflows have also slowed.
On a macro level, the CPI and PPI released by the U.S. last week both came in below expectations, but the Federal Reserve kept interest rates unchanged and released hawkish signals, anticipating only one rate cut within the year, leading to market adjustments. The dollar has strengthened in the short term, and U.S. Treasury yields have risen, exerting pressure on risk assets.
Additionally, there remains uncertainty in the geopolitical situation. The tensions in the Middle East have not been resolved, gold continues to rise, while Bitcoin's response has been limited, once again raising doubts about its safe-haven attributes.
In terms of regulation, the EU MiCA regulatory guidelines have entered a substantive execution phase, and multiple compliant platforms have been approved, which is expected to improve the industry foundation in the medium to long term. However, in the short term, the market is still dominated by macro expectations and capital sentiment. 4E reminds investors to pay attention to risks and respond cautiously to market fluctuations. [Original link]
