Recently, Bitcoin has broken through 110,000, and Ethereum has reached 2,800! The core driver of the rise is the Sino-US trade negotiations: the US has relaxed export controls, sending a positive signal, and both sides are willing to conduct in-depth consultations.
If the reciprocal tariffs are cancelled in the negotiations tonight, it will be a major positive! However, the performance of altcoins is sluggish. Although there is a slight increase, it is far less than expected. The market trap is obvious. Retail investors chase high prices, and the market makers dump the market; no one follows up, and the market makers slowly absorb the chips. The cheap chips are snatched up, and retail investors can only wait for a long time.
BTC
Futures shorts added positions for the last time yesterday, and the short liquidity above the high point hit the highest level in the three-month liquidation zone, similar to the market structure in 2024. The funding rate is still positive, suggesting that high-level shorts are mostly 100x leveraged hedging policies, which explains the three non-liquidation phenomena.
$BTC spot premium rebounded, the price may continue to fluctuate, and there are still short-term short-selling opportunities when testing high levels. Liquidity accumulation is tempting to buy, but "if it should be cleared, there must be something wrong", there may be spot supply distributed through the short liquidation area, and futures buying will take over spot selling, maintaining volatility.
According to the latest Bitcoin price update, Bitcoin continues the three waves of ABC, and the completion of the three waves will be the peak of this bull market.
ETH
Ethereum has recently received positive news. The foundation has been active after the change of leadership. BlackRock prefers Ethereum over Bitcoin, which has pushed up its strong performance and almost broke through $2,900 yesterday. Investors who shorted Ethereum suffered heavy losses and frequently encountered independent market liquidations. At present, several large investors are still setting stop losses at high levels of 3,500-3,800 to "slay the dragon". It seems safe, but if the SEC buys in large quantities through pledge benefits or ETFs such as BlackRock, these short orders may be in jeopardy.
Obviously, the Foundation, Wall Street and BlackRock have completed the collection of chips in the past few months and are ready to use the air force to push up Ethereum. A short squeeze may be brewing. The medium-term is bullish, and short-term ups and downs are normal fluctuations. Today's escalation of the situation in the Middle East and Trump's tariff news may trigger a short-term correction.
ETH currently has a gap between $2,605 and $2,653, which is one of the only two gaps now. In fact, it almost hit the gap above $2,911 today.
Yesterday's CPI data was positive, but 2.2 billion was wiped out overnight, and 105,927 people went bankrupt.
The market first rose and then fell, and those who chased highs were all trapped, especially those who chased Ethereum, because its strength attracted many followers; I chose to take a break to avoid the drastic fluctuations of CPI day and preserve my strength. There is no need to fight a battle with no chance of winning. Isn’t it better to save bullets for later battles that you are sure to win?
The final big news: Brother Sun scored big again! The judicial and academic circles are watching!
On June 3, Justin Sun was invited by Southwest University of Political Science and Law to hold a high-level virtual currency crime bureau! The theme was directly focused on "investigation, prosecution and evidence fixation of virtual currency crimes", and the bigwigs in the judicial community were mobilized collectively!
From on-chain tracking to judicial practice, Justin Sun directly threw out the most hardcore insights in the industry, with dual certification from the judicial circle and the cryptocurrency circle - this man is really awesome!
