cex

According to Jinshi reports, after the release of significantly better-than-expected non-farm payroll data on Friday, market expectations for the Federal Reserve's interest rate hikes this year surged, causing spot gold to plummet sharply, nearly erasing all gains for the year, marking a fourth consecutive week of declines. Silver's overall trend mirrored that of gold but with slightly stronger volatility, closing down 9.85% for the week. The U.S. dollar index, buoyed by the unexpected non-farm data, rose significantly to just above the 100 mark. Following the non-farm data on Friday, U.S. tech stocks suffered heavy losses. The Dow Jones Industrial Average closed down 1.35%, the S&P 500 index fell 2.65%, marking the largest single-day drop since October 2025; the Nasdaq dropped 4.18%, the largest single-day decline since April 2025.Goldman Sachs believes that the current market sentiment is clearly more greedy than fearful. Deutsche Bank pointed out that the market is highly sensitive to any negative news involving Iran. Here are the key points the market will focus on in the new week (all times are in Beijing time):Monday 23:00, U.S. May New York Fed 1-year inflation expectations;Tuesday 14:00, Germany April seasonally adjusted industrial production month-on-month, April seasonally adjusted trade balance;Tuesday 18:00, U.S. May NFIB Small Business Confidence Index;Tuesday 20:15, U.S. ADP employment change for the week ending May 23;Wednesday 20:30, U.S. May unadjusted CPI, May seasonally adjusted CPI/core CPI month-on-month;Wednesday 21:45, Bank of Canada announces interest rate decision;Thursday 20:15, European Central Bank announces interest rate decision;Thursday 20:30, U.S. initial jobless claims for the week ending June 6, May PPI year-on-year/month-on-month;Friday 14:00, Germany May CPI month-on-month final value;Friday 14:45, France May CPI month-on-month final value;Friday 22:00, U.S. June 1-year inflation expectations preliminary value, June University of Michigan Consumer Confidence Index preliminary value.In the coming week, the market will face a series of important events, but the most anticipated remains the potential initial public offering (IPO) of SpaceX. According to current plans, this transaction may launch on Friday, and if it proceeds, it is expected to have a significant impact on overall market sentiment, although the specific direction is still difficult to determine.In addition to SpaceX, the Apple Worldwide Developers Conference, earnings reports, and TSMC's May sales data may also become important factors influencing market volatility. Next week, U.S. stocks will enter a relatively calm phase of earnings season; although the overall number of reports is not large, heavyweight tech companies Oracle and Adobe will take the stage one after another, becoming the focus of market attention.

According to Coinglass data, if ETH falls below $1,515, the cumulative long liquidation intensity on major CEXs will reach $1.026 billion. Conversely, if ETH breaks above $1,673, the cumulative short liquidation intensity on major CEXs will reach $467 million.

According to Coinglass data, if BTC falls below $58,604, the cumulative long liquidation intensity on major CEXs will reach $1.481 billion. Conversely, if BTC breaks above $64,214, the cumulative short liquidation intensity on major CEXs will reach $985 million.

According to on-chain analyst Yu Jin's monitoring, the Binance Life market maker has continued to buy $10 million worth of Binance Life tokens in the past 24 hours, pushing its price up by 15%. The on-chain buying address has continuously purchased 8.62 million Binance Life tokens in the past 24 hours, worth $6.33 million. The CEX withdrawal address continued to withdraw 5.666 million Binance Life tokens from Binance 8 hours ago, worth $4.07 million.Since the beginning of the month, it has accumulated a total of 56.887 million Binance Life tokens, worth $39.1 million, at an average price of $0.687.

According to Coinglass data, if ETH falls below $1,488, the cumulative long liquidation intensity on mainstream CEX will reach $987 million. Conversely, if ETH breaks above $1,644, the cumulative short liquidation intensity on mainstream CEX will reach $968 million.

According to Coinglass data, if BTC breaks through $63,805, the cumulative short liquidation intensity on major CEX will reach $1.513 billion. Conversely, if BTC falls below $57,789, the cumulative long liquidation intensity on major CEX will reach $1.349 billion.

According to Coinglass data, if ETH breaks through $1,637, the cumulative short liquidation intensity on mainstream CEX will reach $1.001 billion. Conversely, if ETH falls below $1,483, the cumulative long liquidation intensity on mainstream CEX will reach $932 million.

According to Coinglass data, if BTC breaks through $63,624, the cumulative short liquidation intensity on mainstream CEX will reach $1.696 billion. Conversely, if BTC falls below $57,608, the cumulative long liquidation intensity on mainstream CEX will reach $1.467 billion.

According to Coinglass data, if ETH breaks through $1,632, the cumulative short liquidation intensity on mainstream CEX will reach $984 million. Conversely, if ETH falls below $1,479, the cumulative long liquidation intensity on mainstream CEX will reach $833 million.

According to Coinglass data, if BTC breaks through $63,778, the cumulative short liquidation intensity on mainstream CEX will reach $1.79 billion. Conversely, if BTC falls below $57,733, the cumulative long liquidation intensity on mainstream CEX will reach $1.58 billion.

According to CoinDesk, despite market speculation that some retail investors may sell Bitcoin to participate in SpaceX's record-breaking $75 billion IPO, stablecoin liquidity and on-chain data show that there are currently no signs of large-scale capital withdrawal from the crypto market.This SpaceX IPO is valued at approximately $1.8 trillion, allocating up to 30% of shares to retail investors through platforms such as Robinhood, Fidelity, and Charles Schwab, significantly higher than the traditional IPO's allocation of about 10% to individual investors. After the roadshow began, subscription demand has exceeded the issuance scale.Data shows that the outflow of USDT and USDC remains within the normal range since February this year, with no abnormal redemptions or supply contractions. In contrast, on June 6, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, indicating that more investors are transferring assets to private wallets, showing signs of buying the dip rather than concentrated cashing out.However, on-chain data cannot reflect the trading behavior of users on platforms like Robinhood and Coinbase, so whether crypto investors are selling assets to subscribe to SpaceX stock still requires waiting for relevant brokers to release subsequent data.Currently, the most significant capital outflows are coming from spot ETFs. Data shows that as of June 3, U.S. spot Bitcoin ETFs have experienced net outflows for 13 consecutive trading days, with total redemptions of approximately $4.4 billion; spot Ethereum ETFs have seen capital outflows for 17 consecutive trading days before returning to slight net inflows.According to the plan, SpaceX will complete pricing on June 11 and will be listed on Nasdaq under the stock code SPCX on June 12.

According to Coinglass data, if ETH breaks through $1,632, the cumulative short liquidation intensity on mainstream CEX will reach $821 million. Conversely, if ETH falls below $1,478, the cumulative long liquidation intensity on mainstream CEX will reach $731 million.

According to Coinglass data, if BTC breaks through $63,477, the cumulative short liquidation intensity on mainstream CEX will reach $1.887 billion. Conversely, if BTC falls below $57,493, the cumulative long liquidation intensity on mainstream CEX will reach $1.515 billion.

According to a report by Fortune, David Trainer, CEO of research firm New Constructs, analyzed that to support a valuation of approximately $1.75 trillion, SpaceX needs to increase its annual revenue to about $1.1 trillion by 2035, which is nearly a 60-fold increase from $18.7 billion in 2025, equivalent to maintaining an average annual revenue growth rate of about 50% over the next decade.According to the prospectus previously submitted by SpaceX, the company's revenue in 2025 is projected to be $18.7 billion, with a net loss of $4.9 billion. Trainer calculated based on a discounted cash flow model that if investors want to achieve an annualized return of about 10% over the next decade, SpaceX must achieve the aforementioned growth targets.Analysis indicates that if it reaches a revenue scale of $1.1 trillion, SpaceX's revenue would account for about 2.4% of the U.S. GDP in 2035, with an economic scale exceeding the entire U.S. utility industry and approaching three-quarters of the U.S. transportation industry.Trainer stated that although the artificial intelligence market has vast potential, many competitors, including Alphabet, Microsoft, NVIDIA, and OpenAI, are competing for market share, and SpaceX lacks historical precedent to achieve such a scale of growth. He believes that SpaceX could not only become the largest IPO in history but also the most expensive in terms of valuation.

According to Coinglass data, if ETH breaks through $1,639, the cumulative short liquidation intensity on mainstream CEX will reach $756 million. Conversely, if ETH falls below $1,486, the cumulative long liquidation intensity on mainstream CEX will reach $511 million.

According to Coinglass data, if BTC breaks through $63,669, the cumulative short liquidation intensity on mainstream CEX will reach $1.576 billion. Conversely, if BTC falls below $57,624, the cumulative long liquidation intensity on mainstream CEX will reach $1.191 billion.

According to Jinshi, citing two informed sources, SpaceX's IPO has received approximately $150 billion in investor subscription funds, with the subscription amount reaching twice the fundraising plan. As the largest IPO in history, the enthusiasm for subscriptions has been quite remarkable.Informed sources indicate that the project is still in the early promotion stage, and large institutional funds typically submit orders only at the end of the IPO subscription period. Current statistical data only reflects intended subscriptions and not the final allocation amount; the actual allocation quantity will be determined during the pricing phase.

According to Coinglass data, if ETH breaks through $1,673, the cumulative short liquidation intensity on major CEXs will reach $885 million. Conversely, if ETH falls below $1,515, the cumulative long liquidation intensity on major CEXs will reach $467 million.

According to Coinglass data, if BTC breaks through $64,275, the cumulative short liquidation intensity on major CEX will reach $1.763 billion. Conversely, if BTC falls below $58,240, the cumulative long liquidation intensity on major CEX will reach $1.074 billion.

According to Jinshi reports, company documents show that Google (GOOG.O) has agreed to pay SpaceX $920 million per month for computing power as part of a cloud service agreement that will last until mid-2029.SpaceX stated in documents submitted on Friday that Google will pay SpaceX a monthly fee from October until June 2029, with the computing power provided including approximately 110,000 NVIDIA GPUs, CPUs, memory, and other related components. The related computing power will gradually increase before September, and the costs will decrease accordingly.The documents indicate that if SpaceX fails to deliver the agreed number of GPUs by September 30, 2026, Google has the right to terminate the contract and will enjoy a one-month grace period. Additionally, according to the agreement disclosed on Friday, either party has the right to terminate the agreement with 90 days' notice.