Virtual Money Market Dynamics: CPI Data and US Debt Auction Attract Follow, Established Meme Coin Market Capitalization Big Pump

Market Observation

Tonight and early tomorrow morning, the US May CPI data and the results of the ten-year Treasury auction will be announced, drawing significant attention from the market. Economists expect the CPI to rise by 0.2% month-on-month, but investors are concerned that tariffs may drive up inflation levels. At the same time, demand for Treasury auctions has also become a focal point, especially against the backdrop of current uncertainties in trade policy. If the CPI data exceeds expectations and the Treasury auction performs poorly, it could lead to a double blow for the bond market. Analysts point out that inflation data may directly affect auction demand, and investors are closely watching relevant performances to assess changes in market sentiment. The current market expects a 0.25% rate cut might only occur in September.

As major global economies accelerate the improvement of regulatory frameworks for crypto assets, the market is undergoing a profound reconstruction of its value system. Some analyses suggest that the US GENIUS Act has propelled the market capitalization of mainstream stablecoins like USDC and USDT to exceed $280 billion; the EU MiCA Act is promoting industry centralization; and Hong Kong has formed unique advantages through a "dual-track" regulatory model. Recently, an IPO by a payment company has sparked widespread attention in the market, with its valuation soaring to $24 billion at one point, reflecting strong confidence from investors in compliant crypto financial infrastructure. At the same time, crypto concept stocks are experiencing an investment boom, with the stock price of a certain trading platform maintaining high volatility from late May to early June.

Bitcoin recently broke through $110,000 and is currently consolidating below $110,668. If it breaks through $110,700, it may further rise to $112,700 or even $115,103. According to an analysis by a certain institution, Bitcoin has broken the short-term downtrend and formed a bullish breakout pattern. Even though this week's CPI data may bring some upward pressure, as long as Bitcoin's price remains above $105,075, the bullish trend remains valid. Meanwhile, Ethereum has also become the market focus, with its implied volatility rising, and short-term options volatility reaching over 70%, significantly enhancing bullish sentiment in the options market. A certain analyst stated that ETH needs to break through the resistance zone of $2,800-$3,000 to initiate the next round of increases, and it is expected that if it breaks the $2,800 resistance, the ETH price may rise to $3,400-$3,500.

Recently, the LABUBU market sentiment has been continuously high, with its trendy toy auctioned for 1.08 million RMB. The market capitalization of the namesake Meme coin soared from 19.51 million USD yesterday to 44 million USD today. The on-chain market overall has warmed up, with the old MEME coin AURA skyrocketing from a market capitalization of 1 million USD to 50 million USD. Useless in the Bonk ecosystem has reached a new high, increasing 10 times in price within a week, with a market capitalization exceeding 50 million USD this morning. It is noteworthy that a well-known investor has been optimistic about HYPE lately, and its market capitalization has now surpassed SUI, with the coin price breaking 42 USD and continuing to set a new historical high.

Key Data (as of June 11, 12:00)

• Bitcoin: $109,642 (Year-to-date +17.09%), daily spot trading volume $34.456 billion
• Ethereum: $2,789.39 (Year-to-date -16.28%), daily spot trading volume is $35.099 billion
• Fear and Greed Index: 65 (Greed)
• Average GAS: BTC: 3.52 sat/vB ETH: 3.28 Gwei
• Market share: BTC 63.2%, ETH 9.8%
• 24-hour BTC long-short ratio: 0.9354
• Sector rise and fall: DeFi rose by 4.92%; L2 rose by 3.36%
• 24-hour liquidation data: A total of 106,468 people globally were liquidated, with a total liquidation amount of 320 million USD, including BTC liquidation of 58.91 million USD, ETH liquidation of 127 million USD, and SOL liquidation of 14.5487 million USD.
• BTC medium to long-term trend channel: upper line (108021.70 USD), lower line (105882.66 USD)
• ETH medium to long-term trend channel: upper line (2642.28 USD), lower line (2589.95 USD)

ETF Flow (as of June 10)

• Bitcoin ETF: +431 million USD
• Ethereum ETF: +125 million (net inflow for 17 consecutive days)

Today's Outlook

• A certain wallet exclusively launches TGE Phase 22 with MEET48 (IDOL)
• A trading platform will delist the USDT perpetual contracts for X, BSV, BR, GUN, and SWELL on June 12.
• Delysium (AGI) will unlock approximately 69.03 million tokens today, accounting for 4.00% of the current circulation, valued at approximately 3.8 million USD.
• io.net (IO) will unlock approximately 3.22 million tokens today, accounting for 1.98% of the current circulation, valued at about 2.5 million dollars.
• Aptos(APT) will unlock approximately 11.31 million tokens on June 12, accounting for 1.79% of the current circulating supply, valued at about 52.7 million USD.
• BounceBit (BB) will unlock approximately 42.89 million tokens on June 12, accounting for 10.47% of the current circulation, valued at around 4.6 million USD.
• US May Unadjusted CPI Year-on-Year (June 11, 20:30): Previous value 2.30%, Forecast value 2.5%
• US May seasonally adjusted CPI month-on-month (June 11, 20:30): Previous value 0.20%, Forecast value 0.2%

Top 500 market capitalization biggest rises today: Axelar (AXL) rise 46.45%, Rocket Pool (RPL) rise 28.30%, HarryPotterObamaSonic10Inu (BITCOIN) rise 22.30%, Defi App (HOME) rise 20.98%, Pocket Network (POKT) rise 20.82%.

Hot News

• The SEC requires the applicants for the spot Solana ETF to update the S-1 filing, and analysts expect approval within four months.
• Ethereum spot ETF had a total net inflow of $125 million yesterday, continuing a 17-day net inflow.
• Nasdaq has submitted a listing application for the 21Shares SUI ETF to the SEC.
• Abraxas Capital has withdrawn a total of 44,612 ETH from CEX in the last 14 hours, worth $123 million.
• A report from a certain institution: The rise in Bitcoin is not a speculative frenzy; funds are shifting from the real estate and auto markets to BTC.
• Michael Saylor: Bitcoin will no longer experience bear markets, and the price will reach 1 million dollars per coin.
• The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate its Bitcoin purchasing strategy.
• A certain trading platform has announced an update to its investment policy to include Bitcoin and other digital assets.
• "20x long BTC whale" has increased its position to 405 million USD.
• Huang Licheng HYPE long position floating profit of 6.5 million USD, has started to gradually take profit.
• A wallet's exclusive TGE Phase 22 launches MEET48 (IDOL)
• ZK Nation: Approximately 760 million ZK will be unlocked in June, and starting from July, approximately 167 million ZK will be unlocked each month until June 2028.
• A certain trading platform will launch AXL on the KRW and USDT markets.