Trump signed a new executive order, raising the import tariffs on aluminum and steel to 50% starting today. This news has directly exacerbated the instability in the market caused by tariffs. Therefore, the Federal Reserve may delay interest rate cuts due to the uncertainty brought by tariffs, which might lower market expectations for a rate cut in July.
On June 3rd, Bitcoin ETFs had a net inflow of 375 million USD, while Ethereum ETFs had a net inflow of 109 million. The ETFs suddenly reversed from a net outflow yesterday to a significant net inflow. Perhaps it is due to the possibility of the dollar continuing to decline.
MAGIC ADEN officially launched a wallet called TRUMP, claiming they are collaborating with TRUMP's MEME team, but it was immediately denied by Trump's son, stating they have no relation. WLFI will launch its own wallet, which has nothing to do with Chuan Jin, only borrowing the IP of MEME.
Lee Jae-myung was elected as the President of South Korea. He is relatively friendly towards cryptocurrencies, and South Korea itself is a country where everyone speculates on B. He previously claimed he would promote the listing of ETFs and issue a stablecoin in Korean won.
After Musk stepped down from DOGE, he started to clash with the current government, mainly over the huge budget and debt issues. The dollar has indeed been continuously depreciating since Trump took office, making Bitcoin a particularly strong inflation hedge.
JAMES stated after going long that he also believes the dollar is on the brink of collapse, but just doesn't want to sink with everyone else. This is indeed a bit ridiculous; a 40x leveraged position will only make you sink alone, and no one will go down with him. Despite his current swagger, I believe that sooner or later, he will reveal his true intentions.
Market Interpretation
Bitcoin continues to fluctuate; it is currently at a position that can go up or down. It can't drop below 100,000, nor can it rise too much. If it drops first, around 100,000 may be a good point to consider bottom-fishing.
The market is slightly declining but hasn't exited the consolidation range, and it has become a bit boring.
Regarding Altcoins:
The stablecoin sector is now a hot topic. I previously mentioned several stablecoin projects; you can go back and check them out, so I won't repeat them. If the framework bill passes, it will be a milestone. It indeed benefits the stablecoin sector.
