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Crypto Market Sees Three Consecutive Days of Decline, with BTC Dropping to $100,000 and ETH Down Over 7%

15 hours ago

On June 6th, based on SoSoValue data, the cryptocurrency market sector has witnessed a consecutive three-day decline, with the decline ranging from approximately 2% to 8%. Bitcoin (BTC) decreased by 2.95% and dipped to around $100,000. Ethereum (ETH) fell by 7.23% and briefly dropped below $2,400. Additionally, the Meme sector declined by 8.04%. Within this sector, OFFICIAL TRUMP (TRUMP) and Pepe (PEPE) dropped by 10.00% and 10.68% respectively, while Fartcoin (FARTCOIN) went against the trend and rose by 8.34%. In other sectors, the PayFi sector saw a 4.25% decline in the past 24 hours. Keeta (KTA), which had previously experienced significant gains, fell by 14.05%. The CeFi sector declined by 4.45%, with Hyperliquid (HYPE) dropping by 5.71%. The Layer1 sector dropped by 4.59%, with Cardano (ADA) and Sui (SUI) falling by 6.39% and 7.35% respectively. The DeFi sector dropped by 6.03%, with Chainlink (LINK) and Aave (AAVE) falling by 6.29% and 8.20% respectively. The Layer2 sector dropped by 7.03%, with Arbitrum (ARB) falling by 9.46%. The cryptocurrency sector index reflecting historical sector trends shows that the ssiMeme, ssiLayer2, and ssiNFT indices all declined by 8.07%, 6.98%, and 6.96% respectively in the past 24 hours.
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Cryptocurrency Exchange Platform Gemini Secretly Files for IPO in the US

On June 7th, as per Reuters, the cryptocurrency exchange GEMINI has carried out a secret filing for a U.S. IPO. Previously, on March 8th, according to Bloomberg, sources disclosed that the cryptocurrency exchange Gemini had submitted a secret IPO application in the US and was collaborating with Goldman Sachs and Morgan Stanley. It remains uncertain whether the IPO will proceed. This move took place after the U.S. Securities and Exchange Commission (SEC) completed its investigation into Gemini without taking any action. Additionally, in January, Gemini reached a $5 million settlement in a lawsuit with the U.S. Commodity Futures Trading Commission (CFTC).

58 minutes ago

James Wynn's on-chain assets have been emptied, and all transferred to a CEX.

On June 7th, according to the monitoring of @EmberCN, the on-chain address of James Wynn has been emptied. All the remaining assets have been transferred to a centralized exchange (CEX), with a total of 1.91 million USDC. The breakdown of the transfers is as follows: 1.5 million USDC to Kucoin, 335,000 USDC to MEXC, and 75,000 USDC to Gate.io.

58 minutes ago

JPMorgan Chase: The June FOMC Meeting Was a "Non-Event"

On June 7th, Mike Feroli, the Chief Economist of JPMorgan, stated that for the Fed, the employment report in May was almost "custom-made" and perfectly reinforced their current stance - to remain unchanged and patiently wait for the developments in employment and inflation to determine the future policy direction. This has made the June Federal Open Market Committee (FOMC) meeting a "non-event."

58 minutes ago

Fed Hawk: Fed Still Likely to Cut Rates Later This Year

On June 7th, Philadelphia Fed President Harker said that with the U.S. financial system facing increasingly mounting challenges, the deficit needs to be controlled. He is "very worried" about the current government's fiscal situation. Harker also stated, "Regarding key data, we are becoming more and more blind. We are concerned that the quality of economic data is deteriorating. Uncertainty is making it extremely difficult to predict the outlook of monetary policy. Nevertheless, in the midst of this uncertainty, the Fed may still cut interest rates later this year."

58 minutes ago

Bank of America: Global Stock Markets Nearing Sell Signal

On June 7th, the U.S. bank strategist Michael Hartnett cautioned that the global stock market is on the verge of triggering a technical "sell" signal following the attainment of a historical high this week. He indicated that the market has become overheated after experiencing a rapid 20% increase within just two months. He presented fund flow and market breadth data as evidence of investors' rush into risk assets with overly elevated positions. Traders commonly view this as a bearish signal because it theoretically suggests that the buying power in the market may soon be depleted, thereby making a price correction likely. The data referred to by Hartnett shows that in the past four weeks, funds flowing into stocks and high-yield bonds accounted for 0.9% of the total assets. He stated that if this figure rises above 1%, it would serve as a signal for investors to sell. Meanwhile, the market is approaching the "overbought zone." Approximately 84% of national indices are positioned abov

58 minutes ago

Musk's Father: Musk and Trump's Feud Will "Die Down in a Few Days"

On June 7th. Errol Musk, Elon Musk's father, said that the intense online dispute between his son and the U.S. President Trump will "subside in a few days." He believes that this dispute is just a confrontation between "alpha males." (Golden Ten)

58 minutes ago

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