Bitcoin (BTC) has not yet recovered from its ups and downs, trading around $63,260 as of June 15. According to Bloomberg, a key committee of the U.S. House of Representatives is preparing legislation to build a cryptocurrency tax framework. With the listing of Grayscale HYPG ETF, the U.S. HYPE spot ETF recorded a total net inflow of $12.1494 million on a single day.
Macro Events & Crypto Hotspots
1、According to a Bloomberg report, the U.S. House Ways and Means Committee is preparing legislation to construct a cryptocurrency tax framework, with the earliest possible release on Friday, followed by a hearing in early next week. Committee Chair Jason Smith will set a digital asset tax framework as the top priority, and the U.S. Department of the Treasury is also involved in the process. The committee expects to release seven bills, covering when tokens obtained through mining or staking are taxed, partial exemptions from capital gains tax for certain stablecoin transactions, parity in tax treatment for digital assets and securities (including charitable donations), a safe harbor allowing foreign investors to trade U.S. securities without being taxed as domestic companies, and expanding wash sale rules to digital assets.
2、As of June 4, U.S. Eastern Time, Grayscale Hyperliquid Staking ETF (ticker HYPG) was officially listed on Nasdaq. There are currently a total of three U.S. HYPE spot ETFs trading on the market. According to SoSoValue data, yesterday (June 4, U.S. Eastern Time) HYPE spot ETFs recorded a total net inflow of $12.1494 million in a single day. Of this, HYPG recorded a net inflow of $4.6973 million on its first complete trading day after listing.
Historically, the highest single-day net inflow was for Bitwise Hyperliquid ETF (BHYP), with a single-day net inflow of $7.4521 million and total historical net inflows of $90.4123 million. As of the time of writing, the total net asset value of the HYPE spot ETFs is $186 million, the HYPE net asset ratio is 1.24%, and cumulative historical net inflows have already reached $152 million. Grayscale Hyperliquid Staking ETF supports cash or in-kind creations and redemptions, with a management fee rate of 0.29%, and supports earning additional yield by staking HYPE. Its creations and redemptions are packaged in baskets of 10,000 shares, and in-kind redemptions are limited to authorized participants.
News Updates
1、Analysis: Strategy’s Bitcoin engine malfunction; all three types of investors face pressure
2、Zcash founder discloses Orchard’s severe forgery vulnerability details, saying the likelihood of exploitation is “low”
3、CME CEO shows “very strong concern” about new perpetual contracts
3、With the listing of the Grayscale HYPG ETF, the U.S. HYPE spot ETF recorded a total net inflow of $12.1494 million on a single day
4、A key committee of the U.S. House is preparing legislation to build a cryptocurrency tax framework
5、“Doctor Doom” backer Atlas CEO predicts Bitcoin will first crash by 70%, then rally to $500,000
6、A White House crypto adviser supports the “CLARITY Act,” saying it is beneficial for regulation and enforcement
7、Senator Lummis leads Republicans in urging relaxation of Basel’s capital penalties for crypto assets
8、Cosmos Labs acquires the Cosmos browser Mintscan
Market Performance
1、Bitcoin latest news: <a data-currency='BTC' href='/trade/BTC_USDT'>$BTC has not yet recovered from its ups and downs, currently around $63,260; in the past 24 hours, $478 million has been liquidated, with longs leading;
2、On June 4, investors sold technology stocks and instead bought so-called “old economy” stocks, sending the Dow Jones Industrial Index to a new high. Broadcom’s AI chip revenue outlook came in below expectations, prompting investors to take profits and dragging chip stocks lower, while the Nasdaq index closed slightly down. At the same time, the market is optimistic about a cooling Middle East situation and increasing expectations of Fed rate cuts; money flowed into financial and healthcare stocks, pushing the Dow up nearly 900 points. The Dow Jones Industrial Index rose 874.86 points, up 1.73%, to close at 51,561.93; the S&P 500 index rose 30.63 points, up 0.41%, to close at 7,584.31; and the Nasdaq index fell 23.02 points, down 0.09%, to close at 26,830.96.
(Source: Gate)
3、In Gate’s BTC/USDT liquidation map, using the current 63,423.60 USDT as the reference: if it drops to around $62,096, the total liquidation amount for long positions exceeds $19.37 million; if it rallies to around $68,216, the total liquidation amount for short positions exceeds $383 million. The liquidation amount on the short side is significantly higher than on the long side. It is recommended to reasonably control leverage levels to avoid triggering large-scale liquidations due to market fluctuations.
(Source: Coinglass)
4、In the past 24 hours, BTC spot inflows totaled $5.54 billion, outflows totaled $5.78 billion, resulting in a net outflow of $240 million.
(Source: Coinglass)
5、In the past 24 hours, contracts including $LAB, $HOME, $OPN, $SNDK, $CL led net outflows, presenting trading opportunities.
X KOL Selected Views
Phyrex Ni (@Phyrex_Ni): “I’m planning to start averaging in $BTC next Monday. One reason is that I won’t be home until Sunday, and the other is that I hope the market can break out of the pessimistic trend of MSTR selling Bitcoin next week. If it really breaks out, it may rebound. If it doesn’t break out and drops below $60,000, then that would be a perfect time to start averaging in in batches. The way to average in is still with a dual-currency approach, starting from $60,000.”
“However, to be honest, I personally don’t think it’s that easy for it to fall below $60,000. Of course, my feeling may not be right. But based on the data I’m looking at right now, including spot ETF data, panic sentiment has already started to ease. Selling from traditional investors has started to decline, and the daily turnover rate has also been fading from its peak. That’s why I said investors are gradually coming out of it.”
“The main thing I’m most concerned about recently is the war between the U.S. and Iran. Because if the Strait of Hormuz cannot be resolved, the June Fed meeting may look very ugly, and the June dot plot won’t be optimistic either. Especially under high interest rates, it’s not impossible that Fed officials decide to raise rates to fight rising inflation. Although I think rate hikes are relatively extreme, if oil prices keep rising and inflation keeps going up, there’s no better option.”
“If they really carry it out like that, who knows, we may even see an economic recession. Of course, that might be the best time to average in. But the worry is that the U.S. stock market only has AI propping it up, while other sectors don’t work. That would mean the index is rising in appearance, but everywhere you look it’s misery—liquidity is scarce.”
“Today, Democratic lawmakers criticized Trump, accusing him of being responsible for the spike in prices caused by the U.S.-and-Iran war. They also said that, due to the conflict, the average U.S. household has to pay an additional $750. In many places, the price of a tank of gasoline has risen by almost 50%. That’s also very hard for Trump as he prepares for the midterm election.”
“Not being able to buy WTI at $97 isn’t a big issue. Right now, WTI is still holding within a range-bound period, but you can already clearly see that the rebound power for WTI isn’t that strong—especially since the price gap between Brent and WTI is only $2. The market seems more worried about WTI rather than fully worrying about the Strait of Hormuz.”
Today’s Outlook
1、Eurozone Q1 GDP final estimate (QoQ), previous value 0.1%
2、Eurozone Q1 GDP final estimate (YoY), previous value 0.8%
3、U.S. May seasonally adjusted change in nonfarm payrolls (thousands), previous value 115
4、U.S. May unemployment rate, previous value 4.3%
