Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

On June 17, the Nikkei 225 Index extended its gains, topping the 70,000 mark again and notching a fresh all-time high. (Kryptonite)

June 17 – According to on-chain data analyst Murphy, the market’s current focus shouldn’t be on “Bitcoin spot trading volume” itself, but rather on “spot relative trading volume” (calculated as spot trading volume divided by its 30-day moving average). This metric gauges market activity relative to historical levels, though it doesn’t offer a one-sided directional read—its meaning depends on interpreting volume alongside price action structure. From a structural perspective, Bitcoin retested its February low in June, but the relative trading volume during this retest was notably lower than it was in February. This signals diminished selling pressure during the second retest at a similar price level. The market typically views this combination of “price retesting a low with declining volume” as a key sign of temporary selling pressure drying up. On the derivatives side, the perpetual contract funding rate has seen major shifts since April: the early phase of negative funding rates

June 17 – According to OnchainLens monitoring, a whale wallet address labeled "0x50b" recently opened large cryptocurrency long positions in the derivatives market. The Bitcoin long position amounts to 1,036.37 BTC with 20x leverage, while the Ethereum long position totals 6,291 ETH at 23x leverage. Based on the current holdings, the combined value of these two long positions is approximately $79.55 million. Additionally, the trader has previously accumulated over $4 million in profits from long and short trades in Bitcoin and Ethereum.

June 17 – According to Farside Data, Bitcoin ETFs recorded a net inflow of approximately $10.2 million yesterday, with funds showing notable reallocation across different products. The iShares Bitcoin Trust (IBIT) posted an inflow of around $16.4 million, while FBTC saw an inflow of roughly $4.3 million. However, the Grayscale Bitcoin Trust (GBTC) logged an outflow of about $16.8 million, which partially offset the overall inflow. All other products remained relatively stable, maintaining a slight net inflow. As for Ethereum ETFs, they posted a net inflow of approximately $9.6 million, extending their ongoing mild inflow trend. The main contributor was ETHA, which saw a daily inflow of roughly $17.3 million, while products like FETH recorded a minor outflow of about $2.2 million. The rest of the products stayed largely stable.

### Official Announcement | June 17 To further cut user transaction costs and elevate the TradFi contract trading experience, BiyaPay is rolling out a 0-transaction-fee policy for all TradFi perpetual contract pairs on its platform. Under this policy, both Maker and Taker fees have been adjusted to 0%. When trading TradFi perpetual contracts, users won’t be charged any transaction fees, regardless of whether their order is a Maker or Taker. Other fees—including Funding Fees—will remain governed by the platform’s existing rules. For full details, please refer to BiyaPay’s official announcement.

June 17. OKX Founder and CEO Star took to social media to respond to CZ’s recent interview remarks, where CZ noted Hyperliquid’s innovations are impressive but he would never follow its business model due to compliance issues. Star’s statement read: “CZ is fully aware of the legal and regulatory risks involved, yet he still created a shell company to replicate Hyperliquid’s business model, personally promoted it, and allocated significant shared resources. Perhaps forming such an independent shell entity is their solution to compliance. But if the core business model, resources, personnel, and incentive mechanisms are essentially identical—what, then, is the real difference between the two?”