Market Focus: The popularity of LABUBU auctions drives the revival of old meme coins. Can BTC consolidate the $105,000 support?

1. Market Observation

Tonight, the market will face two major events: the release of the US May CPI data and the $39 billion ten-year Treasury auction. Economists expect a month-on-month increase of 0.2% in CPI, but investors are concerned that tariffs could push inflation levels higher. At the same time, the demand for Treasury auctions is also under close scrutiny, especially against the backdrop of current trade policy uncertainty. If the CPI data exceeds expectations and the Treasury auction performs poorly, it could create a double blow to the bond market, leading to a sharp rise in yields. 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 anticipates a possibility of a 0.25% rate cut only in September.

Major economies around the world are speeding up the improvement of the regulatory framework for crypto assets, promoting the reconstruction of the market value system. Regulatory measures in the United States, the European Union, and Hong Kong have facilitated the growth of stablecoin market capitalization and industry concentration. Recently, the IPO of a well-known payment company has attracted widespread market attention, with its valuation once soaring to $24 billion, reflecting strong investor confidence in compliant crypto financial infrastructure. At the same time, crypto concept stocks are also experiencing an investment boom.

Bitcoin recently broke through $110,000 and is currently consolidating below $110,668. Analysts believe that as long as the Bitcoin price remains above $105,075, the bullish trend is still valid. Ethereum is also gradually becoming the market focus, with its implied volatility rising and bullish sentiment in the options market significantly strengthening. Some analysts indicate that ETH needs to break through the resistance zone of $2800-$3000 to initiate the next round of upward movement.

The Labubu market sentiment continues to soar, driving the market capitalization of the same-name Meme coin to rise sharply. The overall on-chain market has warmed up, with several old MEME coins experiencing explosive growth. Notably, a certain coin that a well-known investor has frequently mentioned recently has seen its market capitalization exceed that of SUI, with its price hitting a new all-time high.

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

• Bitcoin: $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 BTC long-short ratio: 0.9354
• Sector Performance: 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 USD.
• BTC medium to long-term trend channel: upper line (108021.70 USD), lower line (105882.66 USD)
• ETH medium to long-term trend channel: upper line (2642.28 USD), lower line (2589.95 USD)

3. ETF Flows (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 platform will exclusively launch MEET48 (IDOL)
• A trading platform will delist multiple tokens' USDT perpetual contracts on June 12.
• Multiple projects such as Delysium (AGI) and io.net (IO) will welcome token unlocks.
• The US May unadjusted CPI annual rate and adjusted CPI monthly rate will be announced tonight.

Top 500 market cap gainers 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 issuers of the spot Solana ETF to update their S-1 filings, with analysts expecting approval within four months.
• The total net inflow of Ethereum spot ETF yesterday was $125 million, continuing a 17-day net inflow.
• A certain exchange has submitted a listing application for the 21Shares SUI ETF to US regulators.
• Abraxas Capital has withdrawn a total of 44,612 ETH from centralized exchanges in the past 14 hours, worth $123 million.
• An investment company reports: The rise of Bitcoin is not a speculative frenzy, as funds shift away from the housing and automotive markets towards BTC.
• Michael Saylor stated: Bitcoin will no longer experience bear markets, and the price will reach $1,000,000 per coin.
• The Blockchain Group has been approved to launch a financing plan of 11 billion euros to accelerate its BTC purchase strategy.
• Bakkt announces an update to its investment policy to include Bitcoin and other digital assets
• "20x long BTC whale" has expanded its position to 405 million USD.
• Huang Licheng HYPE long position floating profit of 6.5 million USD, has begun to gradually take profits.
• ZK Nation: Approximately 760 million ZK will be unlocked in June, and from July onwards, approximately 167 million ZK will be unlocked monthly until June 2028.
• A certain exchange will list AXL in the KRW and USDT markets.