Crypto Market Update: BTC holds above $105,000 support level, CPI data and US bond auction attract attention

1. Market Observation

At 20:30 tonight and 1:00 AM the next day, the U.S. Consumer Price Index (CPI) data for May and a $39 billion auction of ten-year U.S. Treasury bonds will be announced successively, attracting significant attention from the market. Economists expect a month-on-month increase of 0.2% in CPI, but investors are concerned that tariffs may push inflation levels higher. At the same time, the demand for the ten-year Treasury bond auction has also become a focal point, especially in the context of current trade policy uncertainties. If the CPI data exceeds expectations and the performance of the Treasury bond auction is poor, it could create a dual blow to the bond market, leading to a sharp rise in yields. Analysts point out that inflation data could have a direct impact on auction demand, and investors are closely watching related performances to assess changes in market sentiment.

As major economies around the world accelerate the improvement of the regulatory framework for crypto assets, the market is undergoing a profound reconstruction of its value system. Some analysts believe that the U.S. "GENIUS Act" requires stablecoin reserve assets to be 100% pegged to the U.S. dollar or U.S. Treasury bonds and audited regularly, pushing the market value of mainstream stablecoins to exceed $280 billion; the EU's MiCA Act promotes industry centralization; and Hong Kong has formed a unique advantage through a "dual-track" regulatory model. Recently, an IPO of a stablecoin issuance company has attracted widespread attention in the market, with its valuation once soaring to $24 billion, reflecting strong investor confidence in compliant crypto financial infrastructure. Meanwhile, crypto concept stocks have seen an investment boom, with a trading platform maintaining high volatility from late May to early June, peaking at $271.95 on May 22.

Bitcoin recently successfully broke through $110,000. From a technical perspective, after breaking the $106,737 level, Bitcoin's price is currently consolidating below the key resistance level of $110,668. If it breaks through $110,700, it may further rise to $112,700 or even $115,103. According to a certain analysis agency, Bitcoin has broken the short-term downtrend and formed a bullish breakout pattern. Even if this week’s CPI data may bring some upward pressure, as long as Bitcoin’s price holds above $105,075, the bullish trend remains valid. Meanwhile, Ethereum is gradually becoming the market focus, with its implied volatility rising and short-term options volatility exceeding 70%. The bullish sentiment in the options market has significantly increased. An industry expert mentioned that ETH needs to break through the $2800-$3000 resistance zone to start the next round of upward movement, and if it breaks through the $2800 resistance, the ETH price may rise to $3400-$3500.

Recently, the Labubu market sentiment has been continuously high, with the mint green first-generation LABUBU toy selling for a sky-high price of 1.08 million RMB. The meme $Labubu's market cap has surged from 19.51 million USD yesterday to 44 million USD today. The on-chain market is generally recovering, with the old MEME coin $AURA skyrocketing from a market cap of 1 million USD to 50 million USD last night. A certain ecosystem's Useless has set a new high, with a 10-fold price increase within a week, and its market cap breaking 50 million USD this morning. It is worth noting that a well-known investor has been continuously promoting HYPE recently, and its market cap has now exceeded SUI, with the coin price breaking 42 USD and hitting a new all-time high.

2. Key data (as of June 11, 12:00 HKT)

• BTC: $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 trading volume ranking on a certain trading platform: POKT, AXL, ETH, XRP, BTC

• 24-hour BTC Long/Short Ratio: 0.9354

• Sector Changes: DeFi up 4.92%; L2 up 3.36%

• 24-hour Liquidation Data: A total of 106,468 people were liquidated globally, with a total liquidation amount of $320 million, including $58.91 million in BTC, $127 million in ETH, and $14.5487 million in SOL.

• BTC Medium to Long-term Trend Channel: Upper channel line (108021.70 USD), lower channel line (105882.66 USD)

• ETH Medium to Long-term Trend Channel: Upper line of the channel (2642.28 USD), lower line (2589.95 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.

3. ETF inflow (as of June 10)

• Bitcoin ETF: +431 million USD

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

4. Today's Outlook

• A certain wallet exclusively launched TGE Phase 22 for MEET48 (IDOL)

• A certain trading platform will delist USDT perpetual contracts for X, BSV, BR, GUN, and SWELL on June 12.

• Delysium (AGI) will unlock approximately 69.03 million tokens today, which accounts for 4.00% of the current circulating supply, worth about 3.8 million USD.

• io.net (IO) will unlock approximately 3.22 million tokens today, which is 1.98% of the current circulation, valued at about 2.5 million USD.

• Aptos(APT will unlock approximately 11.31 million tokens on June 12, accounting for 1.79% of the current circulation, worth approximately 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.

• U.S. May Unadjusted CPI Year-on-Year (June 11, 20:30): Previous value 2.30%, Forecast value 2.5%

• US May Seasonally Adjusted CPI Monthly Rate (June 11, 20:30): Previous value 0.20%, Forecast value 0.2%

Top 500 by Market Cap Today: Axelar (AXL) up 46.45%, Rocket Pool (RPL) up 28.30%, HarryPotterObamaSonic10Inu (BITCOIN) up 22.30%, Defi App (HOME) up 20.98%, Pocket Network (POKT) up 20.82%.

5. Hot News

• US regulators require the issuer of the spot Solana ETF application to update the S-1 document, and analysts expect approval within four months.

• Ethereum spot ETF had a total net inflow of $125 million yesterday, continuing a net inflow for 17 days.

• A certain securities exchange has submitted a listing application for the 21Shares SUI ETF to US regulators.

• Abraxas Capital has withdrawn a total of 44,612 ETH, worth 123 million USD, from centralized exchanges in the last 14 hours.

• A report from an investment company: The rise of Bitcoin is not a speculative frenzy; funds are shifting from the real estate and automotive markets to BTC.

• CEO of a tech company: Bitcoin will no longer experience a bear market, and the price will reach 1 million USD per BTC.

• The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate its Bitcoin purchase strategy.

• A certain cryptocurrency exchange platform announced an update to its investment policy to include BTC and other digital assets.

• "20x Long BTC Whale" has increased its position to 405 million USD.

• A well-known investor HYPE has a floating profit of 6.5 million USD on long positions and has begun to gradually take profits.

• A certain wallet's exclusive TGE Phase 22 launches MEET48 (IDOL)

• ZK Nation: Approximately 760 million ZK will be unlocked in June, and from July onwards, approximately 167 million ZK will be unlocked each month until June 2028.

• A trading platform will list AXL on the KRW and USDT markets.