What happened in the cryptocurrency market from June 9 to 15 last week? The current cryptocurrency market is influenced by various factors, including technical indicators, policy regulation, institutional investment, and macroeconomics. The price trends of Bitcoin and Ethereum are widely watched, with analysts generally bullish, predicting that Bitcoin could reach $170,000 or even higher. News of the SEC possibly approving cryptocurrency ETFs has boosted market confidence, while large institutions like BlackRock plan to expand their investments in crypto assets, further solidifying market positions. Additionally, the rapid growth of the stablecoin market and the support of various governments for blockchain technology have also provided momentum for industry development. However, geopolitical risks and regulatory uncertainties still need to be monitored, as the market may experience volatility in the short term.
【1. Bitcoin may repeat historical declines, raising market concerns】
Although the increase in spot ETFs and institutional investments indicates rising demand, Bitcoin's recent failure to break through $106,000 shows that technical resistance still exists. If it falls below $104,000, it may drop to $23,500; otherwise, it could start a new bullish trend, and the market needs to pay close attention.
【2. Cryptocurrency ownership ratios show racial differences】
The Pew Research Center report shows that 28% of Asian Americans and 20% of Black adults own cryptocurrency, while only 14% of whites do, indicating a higher interest in cryptocurrency among minorities, which could drive market demand growth.
【3. Canada and the UK advance trade and technology cooperation】
Canadian Prime Minister Carney and UK Prime Minister Starmer are promoting trade technology cooperation and supporting the UK's accession to the CPTPP, which could facilitate international cooperation in the blockchain and cryptocurrency fields.
【4. HSBC expects RWA tokenization to surge】
HSBC Hong Kong expects the tokenization of real-world assets (RWA) on public chains to surge in the next 2-5 years, driving the application of blockchain in custody, tokenization, and bond issuance, bringing new opportunities to the market.
【5. BlackRock COO optimistic about the digitalization of capital markets】
The COO of BlackRock stated that bringing traditional capital markets into the digital world will define the next decade, and this trend may further drive the application of cryptocurrency and blockchain technology.
【6. Litecoin price stagnates, may enter consolidation phase】
After a brief rebound, LTC stagnated at $97.80, indicating a potential consolidation phase. Despite the existence of ETF optimism, market tension has affected its recovery potential.
【7. Shiba Inu burn rate skyrockets, significant supply reduction】
At the beginning of this week, the burn rate of Shiba Inu skyrocketed to 112,000%, permanently removing 116 million tokens from circulation. This move could have a long-term positive impact on market prices.
【8. a16z crypto proposes a mutually reinforcing concept of crypto and AI】
a16z crypto believes that crypto technology can help build better AI systems, and vice versa. Although some cross-domain areas have attracted users, full realization may take years or even decades.
【9. Litecoin influenced by ETF optimism and market tensions】
Despite the market's optimistic view on the Litecoin ETF, geopolitical tensions have caused its price to stagnate at $97.80, potentially entering a consolidation phase.
【10. Shiba Inu price continues to be sold off, burn rate skyrockets】
The burn rate of Shiba Inu skyrocketed to 112,000% at the beginning of this week, permanently removing 116 million tokens from circulation. Despite the significant reduction in supply, the price still faces downward pressure.