Welcome to this week’s OTC Desk Rundown — a personal deep dive into the pulse of the crypto markets. Here’s what I’ve been watching closely: the macro movers, token plays, and technical levels that matter right now.
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📌 Top Token Watch
🟢 $AAVE – Gaining Momentum on Policy Optimism
One of the standout stories this week was the renewed interest in $AAVE. The GENIUS Act — a fresh piece of stablecoin legislation — has stirred excitement throughout DeFi. Aave is benefiting in a big way.
TVL just climbed to $25.5B, and the community greenlit the launch of Aave Umbrella, a yield-and-risk mitigation model involving staked aTokens. Fundamentals look strong, and the price reflected that with solid upward movement — a bright spot even as the broader market wobbled.
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🔻 $PLUME – Sharp Drop After Tragic News
$PLUME took a tough hit this week after the unexpected passing of its co-founder and CTO, Eugene Shen. The market reacted immediately, with the token slipping over 10%.
Understandably, investors are uneasy — concerns around continuity and internal infrastructure access surfaced fast. Although there was a quick bounce, the selling pressure returned, and sentiment remains shaky.
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🔻 $RAY – Feeling the Heat from Solana Liquidity Concerns
The Solana ecosystem felt some shockwaves as Pump.fun, a meme coin launchpad, sucked up liquidity with a monster presale. Traders are jittery about whether this is draining capital from other Solana-based assets.
$RAY took the brunt of it, down 24% as market participants anticipated broader fallout. Questions linger over how the presale funds will be allocated, and uncertainty is weighing heavily.
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📈 Bitcoin (BTC) – Chart Check + Macro Watch
📊 8-Hour Log View – TradingView Analysis
In my May 29 update, I pointed out BTC was losing steam after a 7-week uptrend. That played out — we saw a dip to ~$100,300 before the market paused.
Support: ~$100K
Resistance: ~$103K — a make-or-break level for now
The bounce attempt was short-lived, and price action remains delicate.
🧠 Bigger Picture Drivers
The ECB’s 25bps rate cut briefly lifted risk appetite.
But a public spat between Trump and Musk rocked both equities and crypto. Tesla dropped 14% in a single day; BTC fell 4% on the back of it.
Meanwhile, the Fed is staying hawkish. PCE data showed inflation isn’t backing off just yet.
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🔄 ETF Flows – Momentum Cooling
June 1–5: We saw net outflows from Bitcoin ETFs. BTC moved from $108K down to $103.5K.
That slowdown in ETF demand triggered some profit-taking. From what I see, ETF flows continue to serve as a real-time barometer of market conviction.
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🌍 Macro Roundup – What Mattered This Week
Jobless Claims (US): Ticked up to 240K — maybe an early sign of labor cooling.
US GDP Q2 Forecast: Adjusted to -0.2%, a slight improvement.
May 30 Data:
German CPI: 2.1% YoY (a bit hotter than expected)
US PCE: 2.1% (slightly under consensus)
Core PCE: Held at 2.5%
June 2–4 Highlights:
US ISM Manufacturing PMI: Missed again at 48.5
EU CPI: 1.9% — below the ECB’s 2% target
JOLTS job openings: Higher than forecast at 7.39M
ADP Jobs: Only 37K new jobs (vs 111K forecast)
📉 Takeaway: Soft jobs data and weaker PMIs are hinting that the macro tide might be turning — not great news for the dollar or the equity/crypto risk trade.
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📊 BTC Short-Term Price Levels
Level Market Bias
Above $103K Slightly Bullish
Below $100K Cautiously Bearish
In my view, BTC is likely to chop sideways between $100K and $103K in the near term. We’ll need a clear narrative shift — macro or ETF-related — to break us out. If bulls regain control, we could target $106K. On the flip side, a break below $100K might drag us down to $95K–$97K.
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📣 Final Word
This week was a reminder of how fast things can change. Between geopolitics, ETFs, and macro data, volatility can sneak in quickly. Stay alert, trade the levels, and don’t get caught flat-footed.