Crypto Assets Market Dynamics: BSC and Base Chains Become New Hotspots, Analysts Expect Bitcoin to Reach $110,000 This Week

Market Observation

Recently, the U.S. released its non-farm payroll data for May, which slightly exceeded expectations and eased market concerns about an economic recession. The data indicates a high likelihood that the Federal Reserve will keep interest rates unchanged in June. The CPI report for May, set to be released this Wednesday, will become the focus of the market, potentially revealing whether the trend of declining inflation has stalled.

Analysts warn that there is a huge gap between government spending and revenue in the United States, leading to a significant depreciation of the dollar. The total national debt has surpassed $37 trillion, and if certain bills are passed, it will further increase the debt. A critical policy turning point is expected to occur between mid-June and early July, including in areas such as trade, defense spending, and tax policy.

The Bitcoin market was relatively calm over the weekend, primarily showing fluctuations. Last week's closing price was at $105,734, above the 10-day simple moving average. Some analysts believe that Bitcoin has maintained a support level above $104,400 for four consecutive weeks. Additionally, some traders predict that Bitcoin may experience 'magnet-like' fluctuations to capture liquidity, potentially pushing the price to break through $109,000-$110,000 this week.

In the altcoin market, making money on-chain has become increasingly difficult, and many traders are turning to Base or BSC chains. Several projects in the BSC ecosystem, such as TAGGER and the American eagle EGL1, are performing well. There are also several outstanding projects in the Base ecosystem, such as the AI token LAY and TORUS.

Key Data

• Bitcoin: $105,650 (Year-to-date +12.6%), Daily Trading Volume $17.918 billion
• Ethereum: $2,495.20 (Year-to-Date -25.58%), Daily Trading Volume $11.322 Billion
• Fear and Greed Index: 55 (Neutral)
• Average GAS: BTC 3.52 sat/vB, ETH 3.28 Gwei
• Market Share: BTC 63.8%, ETH 9.1%
• 24-hour BTC Long/Short Ratio: 1.0214
• 24-hour liquidation data: 55,999 people globally were liquidated, with a total amount of 125 million US dollars.

ETF Flows (as of June 6)

• Bitcoin ETF: -$47.825 million
• Ethereum ETF: +$25,522,800 (15 consecutive days of net inflow)

Today's Outlook

• A certain trading platform will launch Skate (SKATE)
• The U.S. SEC will hold a roundtable on "DeFi and the American Spirit"
• A certain platform will launch the Defi App (HOME) and Resolv (RESOLV)
• Huma Finance 2.0 Staker Deposits Open
• The Base ecological social prediction market Upside will be launched.
• The US May New York Fed 1-year inflation expectations data will be released.

Hot News

• Data shows that tokens such as APT, STRK, IMX will face a large unlock.
• Macroeconomic Outlook for This Week: CPI Data Tests Federal Reserve's Patience Again, Gold Will Receive Directional Signal
• DWF Labs purchased 7 types of tokens totaling 6.43 million USD within a month, with an overall unrealized loss of 13%.
• The DeFi protocol ALEX was attacked due to a logic vulnerability, resulting in a loss of approximately $8.37 million, and the official team promised full compensation.
• A payment company's IPO lost a potential revenue of $1.72 billion, becoming the seventh largest underpriced IPO case in decades.
• The seasonally adjusted non-farm payrolls in the U.S. for May were 139,000, with an unemployment rate of 4.2%.
• The publicly listed company Yuta Logistics announced its digital asset reserve strategy, planning to acquire up to 15,000 Bitcoins.
• IOST completed $21 million in strategic financing, with participation from DWF Labs and others.