On the macro front, although the war is ongoing, its impact on the financial market has diminished. Trump has opened his mouth, and the Americans are mediating; the situation between Israel and Palestine has begun to ease.
This week, the Federal Reserve will announce its interest rate decision, and the probability of maintaining the current interest rate is quite high.
On June 13, Bitcoin ETF had a net inflow of 301 million USD, while Ethereum ETF had a net outflow of 2.1 million USD. Surprisingly, there was no outflow from Bitcoin ETF on Friday; this data is a bit surprising. Do American investors also think Bitcoin is a safe-haven asset?
The biggest event over the weekend should be the Binance °ALPHA issue. Last week, Binance just announced that adding on-chain liquidity could earn ALPHA points. Last night, two new ALPHA tokens, ZKJ and
KOGE directly withdrew the pool to cut users, completely cutting off those who were accumulating points. ZKJ dropped over 80%, and KOGE's maximum drop was also around 80%, which means that the liquidity of U has basically disappeared, replaced by first-hand tokens, and the price of tokens has been smashed. This time the new ALPHA airdrop has only 50 U for single numbers, it's really just a meal of pig's feet now, and liquidity has also been manipulated. Miners, don't get too greedy, stop now, the doghouse is eyeing your principal.
This Tuesday, the stablecoin bill in the beautiful country will announce the final resolution in the Senate, and the probability of it passing is very high. Last week we mentioned that the stablecoin bill has great significance for the current debt burden of the beautiful country. Therefore, the stablecoin sector will continue to persist.
Recently, the domestic trendy toy LABUBU has seriously gone viral, it seems like everyone in the country knows that this thing has gone crazy. The stock price of Bubble Mart ° has been rising steadily like Xiaomi. The cryptocurrency market is also not lacking in the speculation of MEME coins, and the same-named MEME labubu has recently doubled. It's obvious that this doll can be popular because there is capital at play. This thing is strikingly similar to the NFTs of the past, based on the principle that going viral leads to extinction, I think it won't last two weeks, people will return to rationality, and prices will return to normal, including stock and coin prices.
Market Interpretation
After Bitcoin's drop on Friday, it rebounded over the weekend, which is pretty much in line with previous expectations. We shouldn't be overly bearish on Bitcoin, but from the market perspective, the bulls' counterattack seems to be quite weak. Of course, this still depends on the situation in the Middle East. At the current position, it's hard to predict the market direction; let's wait until today's US stock market closes. In summary, the current risk is definitely greater than the reward.
Unknowingly, our bull market cycle seems to have been extended for two years. In the past, it generally lasted for about a year or even a year and a half before ending. This time, it has broken the pattern, rising for two years; can it continue to surge?
Regarding altcoins:
The rebound is still an opportunity for altcoins to escape. There may be some opportunities in the local stablecoin sector, but they are not very significant.