Global crypto market trends: Inflation data and bond auctions attract attention, Bitcoin holds above $105,000

Market Observation

Tonight, the US May CPI data and the ten-year Treasury bond auction will be released successively, and the market is highly focused on this. Economists expect the CPI to increase by 0.2% month-on-month, but investors are concerned that tariffs may push up inflation levels. At the same time, the demand for the ten-year Treasury bond auction has also become a focus, especially under the current uncertain trade policy backdrop. If the CPI data exceeds expectations and the bond auction performs poorly, it may have a double impact on the bond market. Analysts point out that inflation data may directly affect auction demand, and investors are closely watching related performances to assess changes in market sentiment. Currently, the market has basically ruled out the possibility of interest rate cuts in June or July, expecting a 0.25% cut only in September.

As major global economies improve the regulation of encryption assets, the market is undergoing a reconstruction of its value system. The US "GENIUS Act" requires stablecoins to be 100% pegged to the US dollar or US Treasury bonds and undergo regular audits, leading to the mainstream stablecoin market capitalization exceeding $280 billion. The EU MiCA Act promotes industry centralization, while Hong Kong adopts a "dual-track" regulatory system. Recently, an IPO by a stablecoin issuer has drawn attention, with its valuation rising to $24 billion, reflecting investor confidence in compliant encryption infrastructure. At the same time, encryption concept stocks are experiencing a surge in investment, with a certain trading platform's stock price maintaining a high level of fluctuation at the end of May.

Bitcoin recently broke through $110,000 and is currently consolidating below $110,668. Technical analysis indicates that if it breaks above $110,700, it may rise further to $112,700 or even $115,103. As long as the price remains above $105,075, the bullish trend remains intact. Ethereum is also gradually becoming the focus, with significantly increased bullish sentiment in its options market. Analysts believe that ETH needs to break above the resistance zone of $2,800-$3,000 to initiate a new round of increases.

Recently, the LABUBU market sentiment has soared, driving the revival of old Meme coins. A certain version of LABUBU was auctioned for an astonishing 1.08 million yuan, resulting in a significant increase in the market value of the token of the same name. The overall on-chain market is warming up, with the prices of several old project coins surging. It is worth noting that a well-known individual has been continuously optimistic about HYPE, and its market value has now surpassed SUI, with the coin price setting new highs.

Key Data

• Bitcoin: $109,642 (Year-to-date +17.09%), Daily trading volume $34.456 billion
• Ethereum: $2,789.39 (Year-to-date -16.28%), Daily trading volume $35.099 billion
• Fear and Greed Index: 65 (Greed)
• Market share: BTC 63.2%, ETH 9.8%
• 24-hour liquidation data: 106,468 people liquidated globally, total amount of 320 million USD

ETF Fund Flows

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

Today's Important Events

• US May CPI data released
• Ten-Year Treasury Auction
• Multiple project token unlocks

Market Highlights

• U.S. regulators demand updates to spot Solana ETF application documents
• Ethereum ETF continues to attract capital
• Institutional investors continue to accumulate Bitcoin
• Multiple companies update investment policies to include encryption assets
• Some well-known investors are optimistic about specific encryption projects.