Crypto Assets Market Dynamics and Outlook

Market Observation

Tonight, the U.S. Consumer Price Index for May (CPI) data and the results of the ten-year Treasury bond auction will be announced, and the market is highly focused on this. Economists expect the CPI to grow by 0.2% month-on-month, but investors are concerned that tariffs may push inflation levels higher. At the same time, the demand for the ten-year Treasury bond auction has also become a focal point, especially against the backdrop of current trade policy uncertainties, with market worries that foreign buyers may reduce their participation. If the CPI data exceeds expectations and the Treasury bond auction performs poorly, it could create a double whammy for the bond market, leading to a sharp rise in yields.

Recently, the US Treasury market has shown little volatility, but the combination of this CPI data and auction results may serve as a catalyst to awaken the market. Analysts point out that inflation data could have a direct impact on auction demand, and investors are closely watching related performance to assess changes in market sentiment. Furthermore, the market has partially or completely ruled out the possibility of interest rate cuts at the June or July FOMC meetings, with expectations for a 0.25% rate cut only in September.

As major economies around the world accelerate the improvement of the encryption asset regulatory framework, the market is undergoing a profound reconstruction of its value system. Some analysts believe that the U.S. "GENIUS Act" requires stablecoin reserve assets to be 100% pegged to the U.S. dollar or U.S. Treasury bonds and undergo regular audits, which has pushed the market capitalization of mainstream stablecoins like USDC and USDT to exceed $280 billion; the EU's MiCA bill promotes industry centralization; and Hong Kong has formed a unique advantage through a "dual-track" regulatory model. Recently, Circle's IPO has attracted widespread market attention, with its valuation once climbing to $24 billion, reflecting investors' strong confidence in compliant encryption financial infrastructure. Meanwhile, encryption concept stocks are experiencing an investment boom, with a certain trading platform maintaining high-level fluctuations from late May to early June, reaching a peak of $271.95 on May 22.

Bitcoin recently successfully broke through $110,000. From a technical perspective, after breaking through $106,737, the Bitcoin price is currently consolidating below the key resistance level of $110,668. If it breaks through $110,700, it may further rise to $112,700 or even $115,103. According to an analysis by a certain institution, Bitcoin has broken through the short-term downtrend and formed a bullish breakout pattern. Even though this week's CPI data may bring some upward pressure, as long as the Bitcoin price remains above $105,075, the bullish trend remains valid. Meanwhile, Ethereum is also gradually becoming the market focus, with its implied volatility rising, and short-term options volatility exceeding 70%. The bullish sentiment in the options market has significantly strengthened. Some analysts indicate that ETH needs to break through the resistance zone of $2,800-$3,000 to initiate the next round of increases. It is expected that if the $2,800 resistance is broken, the ETH price may rise to $3,400-$3,500.

Recently, the market sentiment for Labubu has been continuously high. The mint green first-generation LABUBU toy was sold for a sky-high price of 1.08 million RMB, and the meme $Labubu's market value soared from 19.51 million USD yesterday to 44 million USD today. Overall, the on-chain market is recovering, with the old MEME coin $AURA surging from a market value of 1 million USD to 50 million USD last night. The Useless in the Bonk ecosystem reached a new high, with a price increase of 10 times within a week, and its market value broke 50 million USD this morning. It is worth noting that a certain well-known figure has been hyping recently, and its market value has now exceeded SUI, with the coin price breaking 42 USD, setting a new historical high.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC hold the support level of $105,000? CPI data and US bond auctions become the market focus](https://img-cdn.gateio.im/webp-social/moments-4fd5d60786895c3830cfb807c59f3197.webp01

Key Data ) as of June 11, 12:00 HKT (

• Bitcoin: $109,642 ) year-to-date +17.09% (, daily spot trading volume $34.456 billion
• Ethereum: $2,789.39 ) Year-to-date -16.28% (, Daily spot trading volume is $35.099 billion
• Fear and Greed Index:65) Greed (
• Average GAS:BTC:3.52 sat/vB ETH:3.28 Gwei
• Market share: BTC 63.2%, ETH 9.8%
• Trading platform 24-hour trading volume ranking: POKT, AXL, ETH, XRP, BTC
• 24-hour BTC Long/Short Ratio: 0.9354
• Sector Performance: DeFi up 4.92%; L2 up 3.36%
• 24-hour liquidation data: A total of 106,468 people were liquidated globally, with a total liquidation amount of 320 million USD, including BTC liquidations of 58.91 million USD, ETH liquidations of 127 million USD, and SOL liquidations of 14.5487 million USD.
• BTC Medium to Long-term Trend Channel: Upper channel line ) 108021.70 USD (, Lower channel line ) 105882.66 USD (
• ETH Medium to Long-term Trend Channel: Upper channel line )2642.28 USD (, Lower channel line )2589.95 USD (

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC hold the $105,000 support level? CPI data and US debt auction become the market focus])https://img-cdn.gateio.im/webp-social/moments-4e66808c014e8251db8c00ed5bb68bde.webp(

ETF Flow ) as of June 10 (

• Bitcoin ETF: +431 million USD
• Ethereum ETF: +125 million ) net inflow for 17 consecutive days (

Today's Outlook

• Certain wallet exclusive TGE phase 22 launches MEET48)IDOL(
• A trading platform will delist the USDT perpetual contracts for X, BSV, BR, GUN, and SWELL on June 12.
• Delysium)AGI( will unlock approximately 69.03 million tokens today, accounting for 4.00% of the current circulation, valued at about 3.8 million US dollars.
• io.net)IO( will unlock approximately 3.22 million coins today, which is 1.98% of the current circulation, worth about 2.5 million USD.
• Aptos)APT( will unlock approximately 11.31 million coins on June 12, accounting for 1.79% of the current circulation, valued at about 52.7 million US dollars.
• BounceBit)BB( will unlock approximately 42.89 million tokens on June 12, which is 10.47% of the current circulation, valued at approximately 4.6 million USD.
• US May unadjusted CPI year-on-year ) June 11 20:30 (: previous value 2.30%, forecast value 2.5%
• The U.S. May seasonally adjusted CPI monthly rate ) June 11 at 20:30 (: Previous value 0.20%, forecast value 0.2%

Top 500 market value gains today: Axelar ) AXL ( up 46.45%, Rocket Pool ) RPL ( up 28.30%, HarryPotterObamaSonic10 Inu ) BITCOIN ( up 22.30%, Defi App ) HOME ( up 20.98%, Pocket Network ) POKT ( up 20.82%.

![HashKey Trading Moment: LABUBU's Sky-High Auction Drives the Revival of Old Meme Coins, Can BTC Steady at the 105,000 USD Support Level? CPI Data and US Bond Auctions Become Market Focus])https://img-cdn.gateio.im/webp-social/moments-3484f6c2a24ab3e1208628f055de2129.webp(

Hot News

• US regulators require the issuer of the spot Solana ETF application to update the S-1 filing, analysts expect approval within four months.
• The total net inflow of Ethereum spot ETF yesterday was $125 million, marking 17 consecutive days of net inflow.
• Nasdaq has submitted a listing application for the 21Shares SUI ETF to U.S. regulators.
• Abraxas Capital has withdrawn a total of 44,612 ETH from centralized exchanges in the past 14 hours, worth $123 million.
• A report from a certain institution: The rise of Bitcoin is not a speculative frenzy; funds are shifting from the real estate and automotive markets to BTC.
• A well-known person: Bitcoin will no longer experience bear markets, and the price will reach 1 million dollars per coin.
• The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate its Bitcoin purchasing strategy.
• A trading platform announced an update to its investment policy to include Bitcoin and other digital assets.
• "20x long whale on BTC" has expanded its position to $405 million.
• A well-known person has a floating profit of 6.5 million dollars on their HYPE long position and has started to gradually take profits.
• Exclusive TGE 22nd phase of a certain wallet launches MEET48)IDOL(
• ZK Nation: Approximately 760 million ZK will be unlocked in June, and from July onwards, approximately 167 million ZK will be unlocked each month until June 2028.
• A trading platform will list AXL on the KRW, USDT market.