At the macro level, relevant leaders in Japan have discussed the urgency of establishing a national strategic Bitcoin reserve. Meanwhile, Japanese listed company Metaplanet announced it will purchase approximately $837 million worth of Bitcoin through a new stock issuance, demonstrating its firm stance on digital asset allocation.

Institutional funds are also accelerating their layout. According to the latest 13F filings, Goldman Sachs holds $721 million worth of Ethereum ETF, making it the largest holder; followed by Jane Street ($190 million) and Millennium ($186 million). In addition, Onchain Lens has detected that four newly created wallets, suspected to be associated with Bitmine, have withdrawn a total of 30,422 Ethereum from the FalconX platform in the past 17 hours, worth approximately $140 million.

In terms of regulation, Unicoin announced it will submit a motion to the court to dismiss the SEC's lawsuit. The SEC accused it in May of misleading players and illegally raising over $100 million, but Unicoin stated that the case has been misinterpreted and that the company has maintained transparency and compliance from the beginning. CEO Alex Konanykhin described the lawsuit as a 'political performance.'

The US spot Ethereum ETF saw a net inflow of 66,800 units yesterday, worth $307 million.

(Figure 1)

The US spot Bitcoin ETF saw a net inflow of 729 units yesterday, worth $81.4 million.

(Figure 2)

On-chain data shows a slight decline in turnover rate yesterday. Although prices have rebounded, the panic among short-term players has not completely dissipated, and the chips for bottom-fishing and cutting losses remain the main force in recent trades.

URPD data shows that 1.55 million bitcoins have accumulated in the $100,500-$107,000 range; 1.538 million bitcoins have accumulated in the $93,500-$98,500 range.

(Figure 3)

Overall, while Bitcoin has seen a short-term rebound, the adjustment period may not yet be over. The height of this rebound is expected to be limited, and the market still needs to guard against a secondary pullback. However, the support at the $108,000 level is quite strong, and unless there is significant negative news, the likelihood of this position being effectively broken is low.#比特币走势分析