6.04 Show Hand Morning Report:

Waking up to find the market in a bad state, it seems to be just manipulation behind the scenes. I can only say that at this pace, the world's richest person will change hands this year.

1. $BTC seems to have ETFs starting to sell off, after all, all the news in the market is about increasing holdings, yet it still doesn't rise. Good brother gambler JamesWynn is about to face liquidation again;

2. $ETH is very strong, various ETFs are increasing their holdings, and there seems to be some unknown positive news that might be coming out soon;

3. $SOL is a weak presence, it goes up but comes down at an even faster speed, especially affected by pumpfun's token issuance, the entire Solana chain is starting to be drained;

4. U.S. Treasury Secretary Yellen: Trump aims to make the U.S. a center for digital innovation;

5. Trump's social platform Truth Social applies for a Bitcoin ETF;

6. Trump announces an increase in steel and aluminum tariffs to 50%, effective June 4;

7. @pumpdotfun plans to raise $1 billion at a $4 billion valuation, with the token possibly launching within two weeks;

There's also a claim of a $5 billion valuation, which can only mean that no one is playing with memes anymore. This group of Gen Zs needs to cash out quickly; they should be the ones earning the most in the entire memecoin market;

8. Donald Trump Jr. denies any connection to TRUMP Wallet and instead promotes the official World Liberty Financial wallet;

A night full of Trump family stories;

9. Economist: The Federal Reserve may significantly cut interest rates in December;

10. According to @lookonchain monitoring: today, the U.S. Bitcoin ETF saw a net outflow of 2,858 BTC, while the Ethereum ETF saw a net inflow of 30,649 ETH;

11. Arthur Hayes: Debt relief during election cycles is a winning strategy, and those worried about reduced spending in the U.S. can confidently buy more BTC;

12. Telegram Gifts reached an on-chain and off-chain trading volume of $3.5 million on June 2;

A market I never paid attention to, first saw it from @cutepandaweb3 half a month ago;

13. The quality of @virtuals_io's Genesis Launch project is becoming increasingly average, while the points are being distributed more, leading to a decrease in the value of points;

Looking forward to a new reversal;

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Everyone anticipated the issues that pumpfun's token issuance might encounter. They all know this group will definitely not stake; they will just take the money away directly, and the market has been drained ahead of time.

#Bitcoin #Ethereum #Solana #Crypto