Crypto Market Update: Altcoin Focus Shifts, Analysts Maintain Optimistic Outlook on Bitcoin Trends

Recently, the crypto market has shown some new trends. The hotspots for alts are shifting from the Solana chain to the BSC and Base chains. Meanwhile, some analysts are optimistic about Bitcoin's short-term trend, predicting that it may break through the $110,000 mark this week.

Market Observation

The U.S. non-farm payroll data for May slightly exceeded expectations, alleviating market concerns about an economic recession. The data shows that the probability of the Federal Reserve maintaining interest rates in June is extremely high, reaching 99.9%. However, there is a significant gap between government spending and revenue, which could put pressure on the dollar. The total amount of U.S. national debt has exceeded $37 trillion, and if certain bills are passed, the debt may increase further.

Bitcoin prices remained volatile over the weekend, closing at $105,734 last week. Some analysts believe that Bitcoin has turned previous resistance levels into support levels. Predictions suggest that Bitcoin may experience significant fluctuations this week, with prices potentially breaking through $109,000 to $110,000.

In the alts market, investors' attention is shifting from Solana to BSC and Base chains. Within the BSC ecosystem, several projects are performing well, such as TAGGER and American Eagle EGL1. There are also many outstanding projects in the Base ecosystem, such as the AI token $LAY and TORUS.

Key Data

As of June 9, 12:00 HKT:

• Bitcoin price: $105,650 (Year-to-date +12.6%)
• Ethereum Price: $2,495.20 (Year-to-Date -25.58%)
• Market Fear and Greed Index: 55 (Neutral)
• Market share: BTC 63.8%, ETH 9.1%
• 24-hour liquidation data: A total of 55,999 people were liquidated globally, with a total amount of 125 million USD.

ETF Flows

As of June 6:

• Bitcoin ETF: -$47.8225 million
• Ethereum ETF: +25.2228 million USD (net inflow for 15 consecutive days)

Today's Outlook

• A trading platform will launch multiple new projects.
• The U.S. Securities and Exchange Commission will hold a roundtable on "DeFi and the Spirit of America".
• Multiple projects will be launched or open for deposits soon.
• The New York Fed's 1-year inflation expectations data for May will be released.

Hot News

• Multiple tokens will experience large unlocks.
• This week's macroeconomic focus is on the impact of CPI data on Federal Reserve policy.
• An investment institution bought 7 types of altcoins within a month, totaling 6.43 million dollars.
• The DeFi protocol ALEX suffered an attack due to a vulnerability, resulting in a loss of approximately $8.37 million.
• Circle IPO has huge potential losses
• US May Non-Farm Payroll data released
• Listed company Yuta Logistics announces digital asset reserve strategy
• IOST completed a strategic financing of 21 million USD.