Ethereum ETF raised $838 million, BTC surpassed $105,000, and the crypto market shows signs of differentiation.

crypto market weekly review

This week, the crypto market showed a diverging trend. Although the overall investment products still maintained a net inflow of about $286 million, continuing a seven-week winning streak, the structure has changed significantly. The Bitcoin spot ETF experienced a reversal, with a net outflow of about $132 million this week, ending the previous six weeks of inflow trend. This led to Bitcoin's price fluctuating narrowly around $106,000, with a weekly increase of only about 1.15%, closing at $105,600, and briefly retracing to the $103,000-$104,000 range during the period.

In contrast, the Ethereum ETF continues to demonstrate strong capital-raising ability, with a net inflow of approximately $321 million this week, maintaining a net inflow for 15 consecutive trading days, totaling around $838 million. This has driven the ETH price to rebound from around $2,460 and stabilize above $2,500.

Overall, the market is experiencing a clear rotation between the short-term capital inflow into Bitcoin and the continued favor for Ethereum. This reflects institutional investors' optimism about the Ethereum ecosystem and its long-term value, while showing signs of temporary profit-taking in Bitcoin.

performance of popular cryptocurrencies

In terms of popular cryptocurrencies, MIXIE, TAG, ZENAI, WEPE, and ARENA have performed remarkably. MIXIE's price surged by 803% this week, with a current market capitalization of 26 million USD. TAG increased by 335%, with a peak price reaching 0.0003998 USDT. ZENAI rose by 240.27%, while WEPE and ARENA increased by 154.57% and 152.05%, respectively.

Overview of the American Financial Market

As of this week, the U.S. stock market performed strongly, with all three major indexes recording significant gains. The Dow Jones Industrial Average rose by 1.2%, the Nasdaq Composite Index increased by 2.2%, and the S&P 500 Index was up approximately 2.0%, marking the second consecutive week of gains for the stock market. This was mainly driven by strong employment data, support from tech stocks, and optimistic expectations regarding a easing of trade tensions.

Large technology stocks generally rose, with Apple, Tesla, and Nvidia leading the gains. Tesla rebounded about 3.7%, Nvidia increased more than 4%, and Apple also recorded a significant rebound. The market capitalization of these three companies continues to grow, highlighting strong confidence in the technology sector.

The US Dollar Index fell by about 0.5% this week, dropping below 99, mainly due to investor expectations that inflation may slow down and a cautious attitude towards the Federal Reserve's interest rate policy. The weakening dollar has renewed interest in safe-haven assets such as gold, while also further driving overseas capital into the US stock market.

Overall, despite uncertainties in trade policy, a strong labor market (with 139,000 new non-farm jobs and an unemployment rate maintained at 4.2%) provides ongoing momentum for the market. This week's stock market rise reflects investors' optimistic expectations for the future economic outlook and confidence in inflation control.

Important economic data release forecast

• The New York Fed's one-year inflation expectations for May will be released on June 9 at 11 PM.
• The U.S. House of Representatives is scheduled to review the crypto market structure bill on June 10.
• The US May CPI data will be released on June 13 at 8:30 PM.

Recent project token unlock status

• Movement (MOVE): On June 9th at 8 PM, approximately 50 million tokens will be unlocked, accounting for 1.96% of the current circulation, valued at around 7.1 million USD.
• Delysium (AGI): Approximately 69.03 million tokens will be unlocked at 8 AM on June 11th, accounting for 4.00% of the current circulating supply, valued at about 3.8 million USD.
• io.net (IO): On June 11th at 8 PM, approximately 3.22 million tokens will be unlocked, accounting for 1.98% of the current circulation, valued at approximately 2.5 million USD.
• Aptos (APT): Approximately 11.31 million tokens will be unlocked at 12:00 PM on June 12, accounting for 1.79% of the current circulating supply, worth about 52.7 million USD.
• BounceBit (BB): Approximately 42.89 million tokens will be unlocked at 8 AM on June 12, accounting for 10.47% of the current circulation, valued at about 4.6 million USD.

Meme Coin Market Highlights

The meme coins in the Solana ecosystem have performed particularly well. Solaxy (SOLX) has seen a short-term increase of about 74%, making it one of the standout meme coins on the Solana chain this week. In addition, Official Trump, Bonk, Pudgy Penguins, and others have also achieved a weekly increase of 4-15%, making significant contributions.

Risk Warning

Cryptocurrency investment is inherently highly speculative and involves significant risk of loss. Past performance is not indicative of future results. The value of digital currencies can fluctuate dramatically, and trading or holding digital currencies may carry substantial risks. Investors should carefully consider whether to participate in digital currency trading based on their individual investment goals, financial situation, and risk tolerance.