Daily Report on June 1, 2025
The US stock market is closed this weekend, and Bitcoin's fluctuations are also minimal, basically oscillating slightly around $104,000.
Early Friday morning, Trump reignited the conflict over US-China tariffs, but so far the crypto market has not reacted much. The fear and greed index remains steady at around 56, indicating that there is no panic among investors.
However, weekend trading volume is low, making it hard for price movements to reflect the true market situation. We will have to wait for the US stock market to open on Monday to see.
From the data perspective, the turnover rate has been continuously declining over the weekend, mainly due to short-term investors trading at a loss.
In the last 24 hours, the stock of Bitcoin on exchanges has slightly increased, but the issue is not significant, and we can continue to monitor it.
The number of large holders (addresses holding over 100 coins) is still hitting historical highs, indicating that new whales are continuously entering the market.
From the support level perspective, the $93,000-$98,000 range is currently the strongest support zone, accumulating 2.29 million Bitcoins.
The number of chips in the $100,500-$105,000 range is still increasing, reaching 1.32 million Bitcoins, but these are all short-term holders, making it difficult to form effective support in the short term.
In terms of capital, total funds in the market have increased by $100 million, reaching $249.9 billion.
The USDT official website shows a market value of $153.032 billion, which is a decrease of $51 million compared to Friday, indicating that the Asian market has experienced a net outflow of funds for the first time this week.
USDC minted $3 billion on-chain and destroyed $3.2 billion, resulting in a net outflow of $200 million. Combined with Friday and Saturday's data, funds from the US region are also continuously flowing out.
It is important to pay attention to the sentiment of US traders; once their trading enthusiasm declines and funds flow out, Bitcoin's price will also be affected.
Currently, Bitcoin is mainly following the US stock market. If funds from the US region continue to flow out, traditional investors may also sell Bitcoins, which aligns with the recent trend of net outflows from Bitcoin spot ETFs over the past two days.
However, from a broader perspective, there are currently no substantive negative factors; tariffs and monetary policy have limited effects on the risk market.
Next Thursday's Federal Reserve Beige Book and Friday's non-farm employment data, especially the unemployment rate and employment numbers, will be more critical as they will affect when the Federal Reserve can cut interest rates, warranting close attention.
