1. Market Observation
Keywords: Interest Rates, ETH, BTC
The Federal Reserve will announce the June interest rate resolution at 2 AM tomorrow, with the market highly focused on officials' expectations for rate cuts this year. Matthew Ryan, Market Strategy Director at Ebury Financial Services, stated that while two rate cuts within the year remain the baseline expectation for most policymakers, some officials may lean towards only one rate cut, which could impact market sentiment. If the dot plot shows only one rate cut, or Powell indicates no urgency to cut rates, the US dollar may strengthen. Traders anticipate the Federal Reserve might implement the first rate cut for 2025 in September.
Meanwhile, as the Israel-Iran conflict escalates, global market concerns about oil supply continue to heat up. According to ABC News, US officials stated that the next 24 to 48 hours will be crucial in determining whether the Israel-Iran issue can be resolved diplomatically or if Trump will take military action. The US has deployed additional military assets to the Middle East, including aircraft carriers, destroyers, and other defensive deployments. However, Jeffrey Ding, Chief Analyst at HashKey, noted that the market's calm reaction under Middle East tensions might be due to the "TACO" factor, meaning the market has developed an "immunity" to Trump's policies, and investors are not overly pricing in the worst-case scenario.
In the crypto market, Bitcoin experienced a pullback due to geopolitical risks, dropping to around $103,000, currently trading at $105,478. Analyst Michaël van de Poppe indicated that while the current price range has not confirmed a bottom, it provides a good accumulation opportunity. He expects that if Bitcoin breaks through $106,000, it will launch a new strong upward trend. The short-term support is around $103,000, and if the price retraces and stabilizes, it may rebound, with a lower support at around $100,000. Analyst Arslan Butt suggests watching the key resistance levels at $108,951 and $110,406, recommending a long position if Bitcoin returns above $109,000 with increased trading volume. Analyst Anas Hassan believes that breaking the psychological barriers of $109,507 and $111,991 could push Bitcoin towards the Fibonacci extension target of $119,164. If the geopolitical tensions between Israel and Iran further escalate, it might destroy the critical support zone of $104,800-$105,400, causing BTC to fall to $103,100 or even $100,385. For Ethereum, currently hovering around $2,548, it has repeatedly failed to break the $2,700 resistance. Analyst Amin Ayan noted that while on-chain data shows whales continue to accumulate, providing a long-term bullish signal, the short-term technical aspects remain complex. Breaking $2,600 is needed to reignite upward momentum, and Michaël van de Poppe believes Ethereum will challenge $2,800, subsequently triggering an Altcoin rally.
In market dynamics, US stocks mostly declined, with crypto concept stocks performing weakly. TRX concept stock SRM dropped by 15.9%. Notably, the US Senate passed the GENIUS Stablecoin Regulation Act this morning, establishing a federal regulatory framework for stablecoins, but the market reaction was muted. Circle and related concept stocks performed averagely, while ENA, MKR, HUMA, and other stablecoin concept coins declined with the market, suggesting the market may have already priced in this positive news. Additionally, multiple X platform accounts related to Pump.Fun and GMGN have been unfrozen. Currently, $PUMP is priced around $5.8 in pre-market trading on AEVO. Several quick launch projects appeared on-chain, including a token $rasmr launched by a crypto KOL with 100,000 followers, which quickly raised $16 million and maintains a market cap around $10 million; a live content platform-related token $BASEDD raised $10 million but saw its market cap significantly drop to around $6.5 million; the new token $PAWSE by WIF hat dog developers currently has a market cap of $70 million.
2. Key Data (as of June 18, 12:00 HKT)
[The rest of the translation follows the same professional and precise approach, maintaining the specific translations for crypto terms as instructed.]
5. Hot News
VanEck's Planned Solana Spot ETF Has Been Registered with DTCC, with the Code VSOL
Multiple Whales Make Large Purchases of HYPE Token and Open Leveraged Long Positions
Eyenovia Spends $50 Million to Establish HYPE Reserve, Company Will Be Renamed "Hyperion DeFi"
US GENIUS Bill Approved in Senate, Stablecoin Legislation Takes a Historic Step
Ink Will Launch Native Token INK, Airdrop Will Target Early Liquidity Protocol Participants
Pump.Fun and Multiple Crypto-Related X Accounts Have Been Unfrozen
Eigen Labs Launches EigenCloud Platform and Receives $70 Million Investment from a16z crypto
Binance Wallet Exclusive TGE 25th Period Will List DAOBase(BEE)
Canadian Listed Company Luxxfolio Chooses Litecoin as Its Reserve Asset
World Gold Council: 95% of Central Banks Expect Gold Reserves to Rise in Next 12 Months
Infini Suspends All Card Services, Opening Fees Will Be Refunded to Account Within 10 Working Days
Ark Invest Sells Circle Stocks at High Levels on Monday, Cashing Out $51.7 Million
This article is supported by HashKey, HashKey Exchange is the largest licensed virtual asset exchange in Hong Kong and the most trusted crypto asset fiat gateway in Asia. Committed to defining new benchmarks for virtual asset exchanges in compliance, fund safety, and platform protection.
