Reincarnation Community News on June 21

1. 【Federal Reserve Official Barkin Says 'No Urgent Reason for Rate Cuts'】 (Importance: 35%)

Content: Richmond Fed President Barkin stated that the latest economic data does not support an immediate rate cut, emphasizing the need for more evidence of inflation decline.

Analysis: The remarks led to a further cooling of CME rate cut expectations (September probability dropped to 32%), with the dollar index soaring to 98.8, suppressing risk assets, and Bitcoin seeing liquidations of $820 million within an hour (with long positions accounting for 75%).

2. 【BlackRock's Bitcoin ETF Holds 3.25% of Bitcoin Supply】 (Importance: 30%)

Content: IBIT's managed assets reached $69.7 billion, holding 3.25% of the total Bitcoin supply, but CryptoQuant monitoring shows a sharp reduction of 800,000 in the number of short-term holders.

Analysis: The concentration of institutional holdings exacerbates market vulnerability, with large transactions accounting for 89%, indicating the marginalization of retail investors. Against the backdrop of exhausted new capital inflows, the $102,500-$103,500 range has become the institutional cost defense line.

3. 【Norway Plans to Ban New High-Energy Mining Operations】 (Importance: 15%)

Content: The Norwegian government intends to ban new high-energy crypto mining operations before the fall of 2025, stating that they encroach on electricity for other industries and contribute little.

Analysis: Norway accounts for about 0.7% of global Bitcoin hash rate, with limited short-term impact. However, the policy may trigger a chain reaction in Europe and the US, especially if Germany (which accounts for 5.8% of global hash rate) follows suit, potentially impacting network security.

4. 【Hong Kong Hints at Possible RMB Stablecoin】 (Importance: 12%)

Content: Hong Kong Financial Secretary Paul Chan stated that it does not rule out a stablecoin pegged to the RMB, but needs to assess exchange rate mechanisms and monetary policy risks.

Analysis: If implemented, it would become the first sovereign-level fiat-linked stablecoin, promoting RMB internationalization. However, caution is needed regarding contradictions in cross-border capital flow controls, which may divert ETH ecosystem funds in the short term (e.g., MakerDAO).

5. 【Coinbase Receives EU MiCA License and Moves Headquarters】 (Importance: 8%)

Content: Coinbase has received comprehensive authorization under MiCA in Luxembourg and will relocate its EU headquarters to the country.

Analysis: This accelerates the reshuffling of market share among compliant exchanges (Coinbase's European market share may exceed 40%), but new EU regulations require client asset segregation, which may reduce platform capital utilization.