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QCP Capital released the latest report stating that Japanese government bond yields have retreated, easing market concerns about the unwinding of yen arbitrage trades and capital inflows, which drove Bitcoin to rebound to around $64,000.

According to Edaily, Bank of Korea Governor Shin Hyun-song stated at a parliamentary meeting that the system related to the Korean won stablecoin and the legislation of the "Digital Asset Basic Law" should be promoted as soon as possible, and emphasized that there will be a competitive and complementary relationship between stablecoins, deposit tokens, and central bank digital currencies.

Grayscale Research stated that Strategy sold a portion of Bitcoin last week, which may help reduce financing risks and provide support for Bitcoin price stability.The sale of approximately $216 million increased its dollar reserves, which is expected to cover about 17 months of dividend payment needs. Meanwhile, the STRC price rebounded, indicating that investors reacted positively to this decision.

Michael Saylor stated that the biggest evolution of Bitcoin in the next decade will come from fewer changes at the protocol layer and a greater role in other areas. He believes that the foundational layer of Bitcoin will become more solid, capital markets will continue to deepen, applications will expand, institutions will enter, and the world will build on Bitcoin. Bitcoin is not a tech stock, a payment company, or a software platform competing to add features, but a monetary network whose purpose is not to act quickly and disrupt things, but to move slowly and remain unbroken.Saylor indicated that Bitcoin has won the first important battle, and the world is increasingly understanding that Bitcoin is digital capital, possessing attributes such as scarcity, durability, portability, divisibility, programmability, and global transferability. The strongest version of Bitcoin is not to "replace all payment rails," but to become a neutral, global, scarce asset around which capital, credit, and commerce are organized. The foundational layer is not optimized for coffee payments, but designed for final settlement, reserve assets, collateral settlement, and ultimate ownership transfer.He believes that the four-year cycle of Bitcoin is still important, but no longer the dominant model. In the next decade, Bitcoin's price movements will be driven less by miner issuance and more by capital flows from ETFs, corporate treasuries, sovereign reserves, bank credit, derivatives, insurance, collateral, and global savings. Halving will tighten supply, while capital flows will determine the growth trajectory. Digital credit will accelerate Bitcoin adoption, connecting Bitcoin capital with the broader financial system.Saylor stated that the main question in the next decade is not whether Bitcoin can survive, but whether economic exposure is still connected to real Bitcoin or if too much "paper Bitcoin" is being formed. Custodial transparency, proof of reserves, risk management, capital structure, and counterparty risk will all become important.He expects that by 2036, Bitcoin will be more widely held, more deeply institutionalized, more politically significant, and become an important collateral asset in the digital credit market; while the foundational protocol itself may change less than everything built around it.

Regarding the digital credit capital framework announced by Strategy, the Ethereum treasury company BitMine (NYSE: BMNR) commented that this framework consolidates the structural relationship between capital markets and Bitcoin, which should enhance investor confidence in the Strategy approach.BitMine believes that investor concerns typically only arise during Bitcoin downturns; if the Bitcoin price were at $100,000, few would question the strategy. Therefore, Strategy needs to prove that it has enough capital to withstand downturn cycles; raising the capital buffer to over 26 months is a wise move. According to its calculations, since 2009, with a rolling period of 36 months, the probability of negative returns for Bitcoin is less than 0.8%, and a reserve size of 26 months is sufficient for Strategy to safely navigate such fluctuations.

In the past 24 hours, the cryptocurrency derivatives market experienced massive liquidations, with a total liquidation amount of approximately $1 billion, and Ethereum's liquidation amount exceeded that of Bitcoin. At the same time, Bitcoin contract open interest rose for the second consecutive day to 778,000 BTC, with a sharp increase in open interest at the end of Thursday indicating that Bitcoin traders are adding short positions in a downtrend. In contrast, Ethereum contract open interest has remained stable at around 14 million ETH since June 15, and Ethereum traders have not actively shorted during the decline.The 24-hour cumulative trading volume difference adjusted for open interest shows that short positions continue to dominate among the top 25 cryptocurrencies, with only BNB, SOL, and TON as exceptions. Meanwhile, the 30-day annualized implied volatility index for Bitcoin surged to 53%, the highest since June 7; the volatility index for Ethereum rose to 66%. In the cryptocurrency options market, last week the skew for Bitcoin options approached 30%, with significant premiums for put options. In large trades, put options with a strike price of $53,000 expiring on July 10 have appeared, reflecting strong demand for downside hedging.

According to Jinshi reports, Castle Securities stated that Federal Reserve Chairman Waller's commitment to lowering inflation has enhanced the credibility of the Federal Reserve, thereby supporting U.S. long-term Treasury yields and suppressing term premiums. Following last week's Federal Reserve meeting, trading in the U.S. Treasury market, which amounts to $31 trillion, showed that long-term yields were more stable compared to the two-year yields that are more sensitive to policy. The company's head of fixed income sales, Nohshad Shah, stated, "A highly credible Federal Reserve should benefit long-end rate performance."

According to Jinshi reports, the Federal Reserve FOMC statement indicates that the committee will commit to achieving price stability.

With the resurgence of variables in the Middle East situation and the support of strong U.S. inventory data, crude oil has shown a stabilization trend after experiencing violent fluctuations. According to market data from the Gate platform, Brent crude oil (BZ) is currently priced at $91.31, down 1.28% in 24 hours; WTI crude oil (CL) is currently priced at $88.05, down 1.64% in 24 hours. According to CoinGlass data, trading of crude oil-related contracts on the Gate platform remains active. Among them, the Gate BZUSDT contract has a 24-hour trading volume of $8.377 million, consistently ranking among the top two in the industry; the CLUSDT contract has a 24-hour trading volume of $13.3168 million, with an open interest of approximately $8.2264 million, both ranking prominently in the industry.

Last week, the U.S. Bitcoin spot ETF reported a net outflow of $1.72 billion, experiencing the largest single-week net outflow since February 2025. The largest Bitcoin ETF by net assets, BlackRock's IBIT, recorded an outflow of $1.34 billion last week, marking the largest single-week net outflow since its launch in January 2024. Overall, the ETF continued the negative outflow trend that began in May, ultimately recording a monthly net outflow of $2.43 billion in May.Andri Fauzan Adziima, head of research at Bitrue Research Institute, stated that the main driver of last week's ETF outflows was macroeconomic headlines, particularly recent U.S. employment data. The strong May 2026 (non-farm payroll) report confirmed the resilience of the labor market, lowering the probability of the Federal Reserve cutting interest rates in the short term and pushing up U.S. Treasury yields, making income-generating bonds much more attractive than non-yielding Bitcoin.Additionally, geopolitical uncertainties have triggered widespread risk-averse sentiment in recent trading days, affecting not only the digital asset market but also other sectors including artificial intelligence, tech stocks, and gold. It is expected that the outflow pressure will continue in early June, but will stabilize or turn slightly positive by mid to late June, as panic sentiment bottoms out, seasonal factors in June provide some support, and any macro-level easing will trigger inflows.

The Ethereum Layer 2 network Ink, incubated by Kraken, announced last night that the network is experiencing a full-chain outage, with current network availability being intermittent and services not yet stabilized.The official statement noted that before the chain returns to normal operation, user transactions and cross-chain bridging operations may experience instability. Ink is collaborating with its infrastructure partner Gelato to investigate the root cause of the failure and to advance network recovery efforts. As of the time of publication, Ink has not announced any further progress or recovery timeline.

According to Jinshi reports, Federal Reserve's Daly stated that restoring price stability is crucial, but this goal cannot come at the expense of harming the economy.

According to crypto KOL Yusuf's monitoring, yesterday the EURR and USDR contracts under the European stablecoin issuer StabIR were attacked, resulting in losses exceeding 10 million dollars.After the incident, over 100,000 dollars of stolen funds have been frozen, and the USDR and EURR have depegged by more than 20%.

According to WSJ, Anthropic's revenue is expected to reach $10.9 billion in the second quarter, more than doubling from $4.8 billion in the first quarter, and it will achieve profitability at the operational level for the first time. Due to its enormous computing power requirements, the company may not be able to maintain profitability throughout the year; the operational profits have already accounted for the costs of training new models but do not include equity incentive expenses.As part of an ongoing financing round, Anthropic disclosed this data to investors, and this round of financing is likely to raise its valuation above that of OpenAI. Last summer, Anthropic shared financial data with investors, which indicated that the company might not achieve full-year profitability until at least 2028.

According to OnchainLens monitoring, as the HYPE price declines, the 5x leveraged HYPE short position established by Loracle.hl (Loracle.xyz) has returned to profitability, and its 5x leveraged CRBS short position currently has an unrealized profit of over 1.76 million dollars.Its total profit has now risen to 41.43 million dollars.

According to The Block, affected by Iran's rejection of the U.S. peace framework and the tense situation in the Strait of Hormuz, Brent crude oil briefly surpassed $104 on Monday, while Bitcoin remained fluctuating above $81,000. Analysts believe that the current crypto market is more driven by geopolitical factors rather than fundamental factors. QCP Capital describes the current market as "standing at a crossroads," viewing $84,000 as the next key resistance level for Bitcoin.Previously, the inflow of ETF funds, expectations of increased holdings by listed companies, and optimistic sentiment around the U.S. Clarity Act stablecoin bill drove BTC up to the $80,000 range, but recently there has been some profit-taking. Laser Digital stated that the market had previously bet that Strategy would make large-scale Bitcoin purchases, but after the expectations fell through, it triggered profit-taking sell-offs. Additionally, some enterprise-level BTC holders have slowed down or paused their accumulation, which has intensified market pressure.Meanwhile, Ethereum became the main target of selling last week. Reports indicate that a whale holding approximately $1 billion in both BTC and ETH has been continuously selling ETH, leading to a noticeable weakening of ETH relative to BTC. Although this address continued to transfer ETH to exchanges over the weekend, it has not triggered further sell-offs.On the macro level, U.S. non-farm payroll data for April was stronger than expected, alleviating short-term stagflation concerns for the Federal Reserve; the market is also focused on the upcoming CPI and PPI data to be released this week, as well as the progress of meetings between Trump and Chinese leaders in Beijing. CoinShares data shows that net inflows into digital asset investment products reached $857.9 million last week, marking the sixth consecutive week of net inflows.

According to Jinshi reports, Federal Reserve's Daly stated that it is crucial to maintain price stability while avoiding hasty actions.

CryptoQuant analyst Darkfost tweeted that Bitcoin has risen over 36% since the low on February 6. Meanwhile, Bitcoin's dominance has also increased, surpassing 61.3%, returning to the high since November 2025, indicating that funds are still highly concentrated in Bitcoin.In contrast, altcoins are still under pressure but have shown early signs of stabilization. TOTAL3 (the total market capitalization of all cryptocurrencies excluding BTC and ETH) has increased by about 15% during the same period. Among the altcoins listed on Binance, 11.7% have returned above the 200-day moving average (only 2.3% on February 6), breaking the downward trend since October 2025.Additionally, the trading volume of altcoins on Binance has risen from 31% to 49% of the total trading volume of BTC and ETH, indicating that investor interest is slowly returning.

According to Jinshi reports, SEI analyst Jim Smigiel stated in a report that given the Federal Reserve's dual mandate to support maximum employment and stable prices, a direct interest rate hike is unlikely, as it could have potential negative impacts on the economy and labor market. It is expected that global central banks will follow the Federal Reserve's lead to some extent to avoid instability in foreign exchange rates and capital markets.

The cryptocurrency market is strengthening in sync with global stock indices, and risk assets continue to show an upward trend. As of this morning, BTC has firmly stood above the key support level of $81,000 and is showing a sustained upward trend.Meanwhile, major global stock indices are performing strongly, with several core indices reaching historical highs this week. According to data from the Gate platform, SPX500 (S&P 500 Index) reached a peak of $7,314.55 during trading, setting a new historical high, and is currently reported at $7,274.36; NAS100 (Nasdaq 100 Index) is currently reported at $28,211.46, with a 24-hour increase of 1.73%; JPN225 (Nikkei 225 Index) is currently reported at $387.33, with a 24-hour increase of 2.21%, indicating a continued warming of global risk appetite.Against this backdrop, the inter-market asset correlation has further strengthened. Gate has launched the world's first index perpetual contracts, currently offering 15 trading pairs that cover major global stock indices and volatility indices, fully supporting USDT settlement and 24/7 continuous trading. At the same time, the platform has expanded to include various traditional financial assets such as stocks, metals, foreign exchange, and commodities, continuously building an integrated derivatives trading system that coordinates cryptocurrency assets with TradFi.