US stocks rose across the board, Ethereum continued to fluctuate.

The US stock market showed an overall upward trend on Tuesday, with the technology sector performing particularly well. The Dow Jones Industrial Average rose for the fourth consecutive trading day, and Nvidia's market value once again surpassed that of Microsoft, reclaiming its position as the world's most valuable publicly traded company, with a current market value of $3.45 trillion.

In the Hong Kong stock market, stablecoin concept stocks continue to strengthen. The stock prices of some companies related to stablecoins have risen significantly, with some companies seeing increases of over 10%. The rise in these companies' stock prices may be related to their early investments in stablecoin projects, and recent applications for listing by related companies have become a driving factor.

In terms of economic forecasts, some analysts expect that the Federal Reserve may delay the interest rate cut until December, but may choose to make a significant cut of 50 basis points at that time. He believes that the impact of tariffs on inflation will be short-term and will not have a long-term effect on the economy. Additionally, the OECD has significantly lowered its growth expectations for the U.S. economy and warned that certain trade policies could hinder global economic development. Investors are closely watching the May employment report set to be released this Friday to assess the current economic situation.

In this context, analysts have stated that 2025 will be a key turning point for generative AI, transitioning from technological breakthroughs to widespread application. Currently, AI is mainly used in the financial sector for traditional asset management and quantitative trading, but in the future, it is expected to better adapt to the digital asset market through optimizing market-making strategies. Additionally, building AI-enabled Web3 infrastructure, such as smart contract security audits and digital content assetization, will promote the collaborative development of AI and the Web3 ecosystem.

The Bitcoin market is experiencing increased volatility, showing a short-term upward trend. In terms of the political environment, both Poland and South Korea have elected presidents who support cryptocurrency. Although most market news is positive, the price of Bitcoin has not seen a significant increase. Some research institutions warn that the number of Bitcoins held by listed companies has reached a considerable scale, and if the price falls sharply, it could trigger forced selling by companies. This indicates that while corporate holdings have increased buying pressure, they also pose potential risks for selling.

Ethereum has shown relative stability, oscillating around $2600 for 25 days. The U.S. Ethereum ETF has seen continuous increases for 12 days, with a large asset management company holding about $4 billion in ETH through the ETF. Analysis indicates that Ethereum may be approaching a critical turning point, facing a choice between upward or downward movement. On-chain data shows that a large holder or institution is suspected of purchasing a significant amount of Ethereum through over-the-counter trading. Analysts point out that Ethereum is working to establish $2500 as a support level and solidify it as the low point of the macro range between $2500 and $4000. The current trend is similar to certain periods in mid-2021; if successful, Ethereum may enter a new round of range-bound trading.

Research institutions point out that although Bitcoin continues to set historical highs attracting institutional funds, the altcoin market remains stagnant. Ongoing token unlocks and a lack of new narratives have become constraints on development. The Solana token has recently performed poorly, fluctuating around $150. A certain project within its ecosystem plans to raise a large amount of funds through a token sale, which may lead to outflow pressure on the entire Solana ecosystem.

In addition, it was reported early this morning that a political figure would launch a branded crypto wallet and trading application to encourage supporters to buy Meme coins, which led to a brief rise of 40% in the related tokens. However, the parties involved subsequently denied any association with the project, causing the token to pull back nearly 20% from its peak.

Key Data (as of June 4, 12:00 HKT)

• Bitcoin: $105,723 (Year-to-date +12.73%), Daily Spot Trading Volume $25.243 billion
• Ethereum: $2,616.39 (Year-to-date -21.69%), Daily spot trading volume is $14.58 billion
• Fear and Greed Index: 57 (Neutral)
• Average GAS: BTC: 2.63 sat/vB ETH: 4.36 Gwei
• Market share: BTC 63.1%, Ether 9.6%
• 24-hour BTC long-short ratio: 1.0247
• Sector Changes: AI down 2.1%; Meme down 1.67%
• 24-hour liquidation data: A total of 68,138 people were liquidated globally, with a total liquidation amount of 148 million USD, including BTC liquidations of 25.52 million USD, ETH liquidations of 35.96 million USD, and SOL liquidations of 8.75 million USD.
• BTC medium to long-term trend channel: upper channel line (106908.13 USD), lower channel line (104791.13 USD)
• ETH medium to long-term trend channel: upper channel line (2588.05 USD), lower channel line (2536.80 USD)

Note: When the price is above the upper and lower bounds, it indicates a medium to long-term bullish trend; conversely, it indicates a bearish trend. When the price is within the range or fluctuates through the cost range in the short term, it indicates a bottoming or topping state.

ETF Flow (As of June 3)

• Bitcoin ETF: +$378 million (ending a 3-day outflow)
• Ethereum ETF: +$109 million (net inflow for 12 consecutive days)

Today's Preview

• A trading platform will launch Lagrange (LA)
• A trading platform will delist multiple perpetual contracts on June 5.
• Multiple projects will unlock tokens in the near future.
• The US ADP employment numbers for May and initial jobless claims for the week ending May 31 will be released.

Top 500 market cap biggest gainers today: 0×0.ai (0×0) up 67.69%, Acet (ACT) up 28.59%, Alchemist AI (ALCH) up 23.39%, Magic Eden (ME) up 22.03%, Animecoin (ANIME) up 21.70%.

Hot News

• The net inflow of the Ethereum spot ETF reached 109 million USD yesterday, marking the 12th consecutive day of net inflow.
• It is suspected that a certain institution has purchased a large amount of Ether through over-the-counter trading.
• A large asset management company's Bitcoin spot ETF has entered the top 25 ETFs in the United States, with assets reaching $72.4 billion in just 1.4 years since its establishment.
• Spanish coffee chain Vanadi plans to invest over $1.1 billion to acquire Bitcoin, transforming into a "Bitcoin-first" company.
• Meitu CEO: Sold off cryptocurrencies at the end of last year, making a profit of 570 million yuan, of which 80% is distributed as dividends to shareholders.
• Sonic airdrop will start in June, with 25% released instantly and the remaining 75% unlocked linearly in the form of NFTs.
• A certain company plans to issue 2.5 million shares of "Stride" preferred stock to increase its Bitcoin holdings.
• Ethereum co-founder claims to be in talks with sovereign wealth funds for infrastructure collaboration.