First Line Market|This week welcomes the US CPI and the Fed's FOMC resolution; Tokens worth over $240 million will be unlocked this week; Trump will hold a roundtable on American Bitcoin Mining.

Crypto Daily Digest: This week sees the release of US CPI and the US Federal Reserve FOMC decision; tokens worth over $240 million will be unlocked this week; Trump will hold a roundtable meeting on Bitcoin mining in the United States.

According to Token Unlocks data, several projects will see a one-time large-scale unlock of tokens this week, including: Aptos will unlock 11.31 million APT on June 12, worth approximately 96.7 million US dollars, accounting for 2.58% of the circulating supply; Immutable will unlock 25.53 million IMX on June 14, worth approximately 51.32 million US dollars, accounting for 1.72% of the circulating supply; Starknet will unlock 64 million STRK on June 15, worth approximately 74.88 million US dollars, accounting for 4.92% of the circulating supply.

Dune data shows that the total amount of ETH staked on the Ethereum beacon chain is 32,912,765 ETH, with 1,028,524 validators. The staked ETH accounts for 27.46% of the total ETH supply. Among them, the stake share of the liquidity staking protocol Lido is 28.86%.

LayerZero CEO responded to the issue of bribing the reporter of the reported witch address, 'We strongly advise the reporter not to modify the report. The team has the original records of GitHub and Commonwealth. Editing and deleting the witch cluster may jeopardize the entire bounty.' It is stated that the final list of witch addresses will be released by the end of June.

According to the official website and official X platform of UXLINK, the number of registered users of UXLINK has exceeded 10 million. DappRadar data shows that the number of active independent addresses on the UXLINK chain has reached 4.7 million, ranking first globally.

According to News.bitcoin, stablecoin economy has grown by more than 11% in the past 90 days, with over 16.23 billion US dollars flowing into the encryption market, with USDT accounting for over 69%. In the past month, the supply of USDT has increased by 1.3%. Meanwhile, Circle's US dollar token (USDC) has fallen by 2.7% in the past month, but has shown a growth trend in the past 90 days, with the market cap increasing from 298.8 billion US dollars on March 11 to 322.3 billion US dollars today.

The migration reward for the first phase of the AI ecosystem project NetX has started to be distributed. All users who migrate $TRIAS to the NetX network can receive $TAS rewards. The first phase of NetX migration will end at the end of June.

Triathon, a Web3+AI model training project, officially launched the governance proposal function, and $GROW governance token became the focus. In addition, Triathon announced the embedding of the AIA training model and the NetX Mainnet, and Triathon will build a more powerful Web3 AI training ecosystem.

io.net founder and CEO Ahmad Shadid has announced his resignation as CEO of io.net and will donate 1 million IO tokens to the io.net Internet of GPUs Foundation.

According to DefiLlama data, pump.fun's revenue in the past 24 hours reached $1.15 million, the third-highest daily revenue record in history. The previous highest daily revenue record was $1.48 million on May 30th.

Trump raised $12 million at a San Francisco tech venture capital event. His campaign team's cryptocurrency assistant David Bailey recently announced that Trump will hold a roundtable meeting on American Bitcoin mining. Bailey did not disclose which companies or individual miners are interested in attending this future meeting. But in a subsequent post, Bailey made it clear that recognized industry participants will attend the meeting.

According to Lookonchain monitoring, nine Bitcoin ETFs increased their holdings by 3,689 BTC (approximately $261.9 million) last Friday.

US non-farm data and unemployment rate both increased in May, causing US interest rate futures traders to significantly reduce their bets on a Fed rate cut in September. Now the probability of a rate cut is believed to be 55%, compared to the previous data which showed 70%.

Market Analysis: BTC fluctuates around $60,000, while altcoin zone rebound faster

Market Trend:

Bitcoin (BTC) has been maintaining a high-level oscillating trend recently. Bulls and bears have been competing near the 70,000 integer mark. If it rises today and closes above 70,000, the daily chart may show a bullish moving average arrangement, which may stimulate bullish sentiment in the market.

It is worth mentioning that the U.S. non-farm payroll data released last Friday far exceeded expectations, leading to a further discount in the market's expectation of a rate cut in September. As a result, assets such as Bitcoin experienced a decline due to this unfavorable information, and the price of the coin once fell to near $68,400. From a 4-hour perspective, it is currently in a rebound and recovery state supported by the 60-period moving average.

In terms of fund flow, the US Spot ETF has seen continuous net inflows for 19 consecutive trading days. On Friday last week, it added 3,689 BTC (approximately $261.9 million). Although the fund size of the Hong Kong Spot ETF is much smaller than that of the US market, it also shows a net inflow trend overall.

In conclusion, whether from the macro background or the micro-trend, Bitcoin lacks the corresponding conditions for a big dump, and may maintain a certain adjustment and accumulation trend in the short term, and the long-term outlook for the future is still optimistic.

Market Hotspots:

1. RWA Zone: The real world asset (RWA) zone has seen a 7.15% increase in the past 24 hours, with leading tokens such as MKR, ONDO, PENDLE, and POLYX showing the highest gains. The RWA zone is the most closely related zone to the current bull market and external real-world applications, carrying the function of expanding real-world adoption rates for encryption technology and products, attracting attention from traditional market investors.
2. SocialFi zone: The recent surge of TON chain game Notcoin (NOT) supported by Telegram has sparked a craze in the social field, with a weekly growth rate of 5 times. The zone has seen a 2.79% surge in the past 24 hours, with leading tokens including MOON, CHZ, MASK, CBK, etc., with growth rates of 7.94%, 7.33%, 4.8%, 3.46% respectively.
3. GameFi Zone: The blockchain gaming (GameFi) sector, which led the market last week, has recently cooled off, with a 1.65% increase in the past 24 hours. The blockchain gaming sector has also been affected by the spillover of funds from the game Notcoin (NOT), with IMX, PORTAL, BEAM, YGG and others experiencing a similar fall last week due to BTC's drag, which has now shown signs of recovery.
4. MEME Zone: The MEME zone can be said to be the most hot track in this bull market in terms of sustainability. From a series of cat-themed MEMEs to the issuance of MEME after collective payment, and to recent celebrity coins such as MOTHET and JENNER, the MEME zone has always attracted market attention with innovative issuance mechanisms, marketing methods, narrative themes, etc. The MEME zone has risen by 0.55% in the past 24 hours. There is a significant differentiation in the rise and fall of tokens within the zone, but RNT, GME, BRETT, MAGA, MOTHER, and others have still achieved higher gains.

Overall, in the context of further macro liquidity tightening in the encryption market, Bitcoin continues to maintain a high-level volatile situation, while RWA, SocialFI, GameFi, and other sectors are leading the recovery, but the sustainability of the heat is unknown. Currently, it can be foreseen that AI and MEME sectors, although slightly weak in recent days, will still be the most worthy of attention. Of course, in the current macro environment which is still relatively tight, fund speculation is more cautious, and the rotation of heat is also fast. Investors should remain cautious, especially paying attention to the token opportunities of popular sectors (AI+DePIN, AI+MEME, etc.) in the near future.

Macro: Fed's Tightening Policy Determination Stronger than Expected, Follow Interest Rate Decision This Week

Currently, the Federal Reserve is facing a situation of tightening interest rate policies, especially after the release of better-than-expected employment data last Friday, the probability of the Fed cutting interest rates again has been reduced.

Due to the strong performance of the labor market, especially the rebound in wage growth, it is expected that the pace of inflation will slow down more, making the Fed more likely to focus on inflation control rather than the labor market when making decisions. In particular, if the inflation data in May once again remains resilient, the probability of the Fed cutting interest rates once or not at all this year will significantly increase.

And the market will pay special attention to this week's interest rate decision. The Federal Reserve will hold a two-day policy meeting on June 12-13, during which it will release the Summary of Economic Projections and the dot plot of interest rates, which will be the focus of market attention.

From various interpretations, the Fed's policy seems to have strengthened compared to the previous period. This is mainly attributed to the strength and stickiness of the data, and the Fed needs a longer observation window to assess the economic situation. Therefore, the market expects the Fed to possibly only cut interest rates a limited number of times within the year, or even possibly not cut interest rates.

However, it is noteworthy that although the non-farm payroll data released last week exceeded expectations, the unemployment rate also rose. How to effectively curb inflation without excessively suppressing economic vitality may become a matter of great concern for the Federal Reserve. This is also the liquidity background for various risky assets, including Bitcoin, which have fallen slightly in recent times.

Overall, the Federal Reserve needs to balance the two factors of employment and inflation when facing the current situation of tightening interest rate policy. As data is released and the Federal Reserve policy meetings are held, the market will have a clearer understanding of the direction of the Federal Reserve's monetary policy, and we will closely follow this.

Author: Carl Y. This article represents the author's views and does not constitute any trading advice. This article is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal liability will be pursued.