On June 1, Children's Day, the cryptocurrency world was like an animated series that was suspended: there were many stories, but the enthusiasm was low. On one hand, the tech giant Musk left Doge, marking the end of the entry of technology into politics, and on the other hand, the regulation of stablecoins in the United States and Hong Kong was implemented; the three major currencies were squatting on the technical position waiting for people to shout "action", but the market responded: "No show today."
📊【Performance of the three major currencies: The market is sleeping, but the jokes are waking up first】
📈 Bitcoin (BTC): The only player in the market who drank coffee
At $105,102, it rose slightly by about 0.28%. While others were in a daze, it silently raised its head. Although the increase was not much, this gesture seemed to say: "Don't look at me not being happy, I can still move."
Comment: "BTC is like a socially anxious dancing king - silent, but always lifts his legs before you when the music starts."
📉 Ethereum (ETH): Technically tight, emotionally closed
The price was reported at $2,534, down about 0.42%. Although the decline was not large, the RSI was already close to the ground, and the on-chain activities were still on holiday. The entire project seemed to be saying, "I don't want to rise now, please respect me."
Comment: "ETH is like someone who just broke up. Before they can get over the emotional zone, they are pulled in to interview DeFi."
📉 Binance Coin (BNB): Sit back and wait for the market to speak first
At $658, down about 0.35%. The SEC withdrew the lawsuit, the platform is operating normally, but the price just won’t go up. The technical indicators are in a daze, the trading volume is in a state of suspended animation, and the market is shouting: “Can you bring some freshness?”
Comment: "BNB is the kind of worker who doesn't bother anyone and doesn't pamper anyone. He can survive but doesn't want to roll."
📰 June 1st Times Analysis | Where is the wind in the cryptocurrency circle blowing?
🕯【Musk bids farewell to the "DOGE Department", Dogecoin falls out of favor, is the hype myth going away?】
At the end of May, Musk officially resigned from his position as special adviser to the Department of Government Efficiency (DOGE) established by the Trump administration. He left as soon as the 130-day deadline was up, without even saying "good night Doge". This department was originally a "digital energy conservation office" established by Trump on a whim. Musk was invited as an efficiency spokesperson to cut budgets and heads, and by the way, he also helped Dogecoin gain popularity.
But as he "left quietly", the market sobered up instantly. Dogecoin rose first and then fell, and investors began to realize that this "DOGE" was not a meme coin, but part of Executive Order 14158. As soon as Musk left, the aura of the meme coin also floated away.
Comment: "Musk's role in the cryptocurrency world is like that of a lighting engineer: he may not be able to sing on stage, but once he turns off the lights, everyone in the audience has to find their own exit."
🪙【The great leap forward in the legalization of stablecoins: Hong Kong + the United States race to issue licenses】
On the Chinese side, the Hong Kong Legislative Council officially passed the (Stablecoin Ordinance); on the American side, the US GENIUS Act was simultaneously promoted. The stablecoin regulatory competition between Hong Kong and the United States has begun, with the central bank, the Ministry of Finance, securities firms and project parties all entering the market.
The core logic has changed: not everyone can issue stablecoins, but "you have to go online and obtain a license, and pay U.S. debt in the backend." In essence, it is a "distributed bidding" for the global coinage rights.
Comment: "Stablecoin is not a bubble, but a shadow clone on the dollar chain. Whoever can control it will have the on-chain money printing machine."
💥【BTC’s “Celebrity Slaps in the Face” Update, Even Buffett Lost His Voice】
Odaily compiled a list of celebrities who repeatedly criticized Bitcoin from 2017 to 2021, but now they are all silent. They include: Buffett, Gates, Trump, Jamie Dimon, Jack Ma... They once swore that "Bitcoin has no value", but now they don't mention it anymore.
Comment: "It's not that they saw it wrong, it's the price of Bitcoin that sewed their mouths shut."
🌍【Global market turns sideways, the cryptocurrency world is waiting for the wind to come】
Global markets enter a period of cooling sentiment:
The IMF lowered its global growth forecast for 2025 to 2.8%, and the US growth forecast was even worse at 1.8%;
The US tariff dispute has not been resolved, and trade data has plummeted by nearly 20%;
OPEC+ announced an increase of 411,000 barrels per day in June. Oil prices may be stable, but sentiment is unstable;
Short-term funds in the crypto market are on the sidelines, with strong bearish sentiment and a bearish technical outlook.
The logic of the cryptocurrency circle has been pushed to a deeper level—the macro situation is not good, and the narrative is desperately trying to hold up the scene.
📅【Preview of the first week of June: Stablecoins debut, the Fed talks a lot, and non-agricultural data is coming】
The new week started with a bang: On June 3, the SEC will decide whether the two Bitcoin ETFs, VanEck and WisdomTree, can be “real goods and real payments”, and the cryptocurrency community is keeping a close eye on it; on June 5, the SEC will also hold an “asset management trend meeting”, with BlackRock and Fidelity both sitting at the negotiation table. On June 6, the double data of non-agricultural employment and unemployment rate will be released, and whether it will rise or fall will all depend on it. On Binance, EDGEN and BDXN were launched one after another, and the Web3 circle continued to “roll in new coins + airdrop”.
🌍【June Macro Calendar Brief Reading: Data Bombardment Month, Beware of the Fed’s Change of Face】
The whole month of June is like a "high-pressure oven" for crypto traders: there are key events every week. CPI, non-farm payrolls, FOMC decisions come one after another, and the ECB, Bank of Japan, and Bank of Canada take turns to appear, leaving no breathing time. PMI determines whether funds are hot, and inflation data determines whether the Fed will continue to fight. Want to survive? Remember the calendar, control leverage, and keep an eye on ETH staking income. There will be no lack of market in June, just worry that you lack a safe haven umbrella.
