On June 2, the crypto world felt like a sleepless Monday: interest rates shout to be cut, Musk launches a new drama, regulators suddenly hand over a compliance script, and the market says: 'I'll just sit for a while and wait for a signal.'
📊【Performance of the three major cryptocurrencies: dropping and then rising, the market turns back and says 'actually I haven't gone far'】
📈 Bitcoin (BTC): stepping into technical levels, turning back to jump to 106K
Reported at $106,378, rebounding over 3% from 103K within 24 hours, the trend resembles that of a 'diving player'. The 4-hour chart shows that after a strong short sell, buyers stepped in steadily, bullish momentum is reappearing in the market. The underlying logic is a set: tariff noise + ETF inflow + regulatory clarity = capital return.
Comment: 'BTC today performs like someone who just fell down the stairs and got pulled back up - still by an old acquaintance.'
📈 Ethereum (ETH): finally not just a quiet runner-up
Reported at $2,643, with an increase of about 7% in the last 24 hours, the pace has opened up, even the RSI has been awakened. Stablecoin legislation progress + DeFi track support, ETH is strongly rebounding, performing even better than BTC.
Comment: 'ETH today is like the honest person finally being hired by HR, jumping up and shouting 'I can also do great things!'
🔄 Binance Coin (BNB): stable, waiting for you to move first
Reported at $672.49, the trend is stable, after previously breaking below 645 and then pulling back to a high position, the price is caught between multiple moving averages, although trading volume shrinks, the stance is steady, as if waiting for the market to speak first.
Comment: 'BNB is like that quiet old employee in the office, hasn't done anything wrong, but the boss doesn't praise him either.'
What follows is still the 'heavy plot' content of the cryptocurrency continuous drama.
🕯【June's opening atmosphere group: interest rates say they want to cut, regulators say hurry up and get on board, the market says I'll rest for a while】
Everyone is awake, but no one wants to work. The three major cryptocurrencies are going sideways, Wynn is charging in the opposite direction, Musk is busy marketing the new app, the ETF continues to attract money, stablecoins are scrambling for licenses, policies, funds, and technologies are all speaking their own languages, but together only leaves one word: sideways.
🕯【Musk launches XChat, is Bitcoin faith now a marketing slogan?】
Stop refreshing 'Musk leaves Dogecoin', he has already laid out the next script. On June 1, he announced the launch of XChat, an 'end-to-end chat tool with Bitcoin-style encryption', which looks like Signal in functionality, but is promoted like the Bitcoin white paper.
The cryptocurrency community immediately starts imagining: X Wallet, DOGE payments, on-chain identity... but Dogecoin hasn’t risen, Bitcoin hasn’t moved, what’s rising is Musk’s social media traffic.
Comment: 'XChat is Musk's new script, Bitcoin is just the cover sculpture, the real money-maker is still the app's monthly active users.'
💥【Wynn is all in again! 40x leverage bet of $100 million on BTC, 'losing money brother' rises against the wind】
Just three days after the liquidation, James Wynn is back online with a new script: opening a $100 million BTC long position, 40x leverage, the liquidation price is just around the corner. While adding margin, he tweets, shouting 'buy BTC to fight corruption', like a captain of the cryptocurrency Avengers.
As of today, he has burned through $3.38 million in margin, with an unrealized loss of $1.4 million, and has been mocked online by CZ for 'not being able to afford even 1 BNB'.
Comment: 'Wynn's operations sound like villain lines in a movie: 'This time, I will definitely win!' - but the audience knows he's going to blow up.'
🪙【Stablecoins scramble to go onshore, regulators race to grab the 'on-chain printing machine'】
The US GENIUS Act continues to push forward, Hong Kong's (stablecoin regulations) are being implemented directly, and regulators are staging an international license competition. Now issuing stablecoins is not about who runs faster, but who has a 'strong background + compliance'.
Comment: 'This is not a compliance track, this is an on-chain printing machine talent show - whoever has a strong background can issue coins to sustain a bank.'
🚨【Macro continues to weigh down, the bull market only dares to hide in charts】
BTC rebounds face resistance, sliding back to the 104K line. Although the IBIT ETF raised $6 billion in a week, the popularity hasn't returned. Bitfinex clearly states: everyone wants to take profits after a big rise, compounded by macro headwinds, the correction is a 'reasonable arrangement'.
Where does the pressure come from? 30-year US Treasury yields breaking 5%, Trump shouting for increased tariffs, Morgan Stanley directly predicting 'this year's rate cuts and the dollar will fall'.
Comment: 'The market is like a construction site crane - to lift BTC, we first need to clear all macro headwinds.'
📉【June is not a peak season for the market, it's a month for sideways observation】
Historical data tells you the truth: the average increase of BTC in June is only 1.9%, and it even fell 7% last June. MicroStrategy continues to 'steel faith' and buy in, now holding 580,000 coins, with a market value of nearly $40 billion, at an average price of $70,000.
But for ordinary people, June feels more like a break room in a bull market: policies are too noisy, the main players are too tired, everyone is waiting for a new narrative.
🧾 Brief summary｜June 2, 2025: everyone is shouting slogans, but no one is really moving their wallets.
Today’s crypto scene feels like a mid-year theater rehearsal: the set is ready, the lights are on, the scripts are flying around, but the actors are all backstage slacking off. Musk releases XChat, hanging a banner of 'Bitcoin-style encryption', but it actually looks more like a hot topic to pull monthly active users; Wynn's liquidation is not enough, he rushes up to block a breath with 40x leverage, shouting 'fight against corruption', but from the account's unrealized loss perspective - he might be fighting against reason; regulators are not resting, stablecoin licensing is like a model student, everyone wants to touch the 'on-chain printing machine'.
On the macro front, US Treasury yields are high, Trump is calling for more tariffs, the Federal Reserve says it will cut rates, but the market just wants to lie down after hearing it. Bitcoin's price is hovering around 104K, as if yesterday's soup hasn't been digested, ETH and BNB are also doing yoga on the edge of 'rebound'.
