Bitcoin (BTC) gives back the overnight gains, trading around $62,790 as of June 9. Crypto reporter Eleanor Terrett revealed that the White House held a meeting on Wednesday to address concerns about certain provisions in the CLARITY Act or to increase the difficulty of cracking down on illegal financial activity. Japan’s SBI Shinsei Bank will provide customers with crypto rewards for deposits; it will also run a reciprocal customer referral program with VC Trade.
Macroeconomic Events & Crypto Hot Topics
1、Crypto reporter Eleanor Terrett, citing three sources, said on X that U.S. stock market government officials will hold a meeting at the White House on Wednesday with law enforcement groups to address concerns that certain provisions in the CLARITY Act—including developer protection provisions derived from the Blockchain Regulatory Certainty Act—may increase the difficulty of cracking down on illegal financial activity. This issue, like the moral provisions, is one of the main obstacles that must be resolved before the bill is submitted to a full Senate vote. Several Democrats have said they will not support the bill unless the law enforcement agencies’ concerns are adequately addressed. Ahead of this meeting, the crypto industry has pushed more broadly, including holding town hall meetings and inviting former law enforcement officials currently involved in the crypto industry to lobby.
2、According to Nikkei Japan, SBI Shinsei Bank will launch a new service this autumn that will reward depositors with crypto based on their deposit balances. In addition to fiat interest, depositors will receive crypto exchange vouchers equivalent to 20% of the interest. The move is intended to attract new customers to the group’s crypto business. Using crypto as a perpetual deposit product is not common. The exchange vouchers can be converted into Bitcoin, Ether, or XRP within a specific time window. The conversion will be based on the exchange rate at execution. SBI Holdings has made arrangements in advance.
News Updates
1、Arthur Hayes: The AI bubble will burst and drag down the crypto market; Bitcoin faces short-term pressure but is bullish long term
2、A related address tied to Humanity Protocol was hacked for over $31 million
3、Tokenized stock market value reaches $5.5 billion, driven by the SpaceX IPO and exchange business expansion
4、The White House will hold a meeting on Wednesday to address concerns about certain provisions in the CLARITY Act or to increase the difficulty of cracking down on illegal financial activity
5、Apple releases a new generation of AI platform and an upgraded Siri
6、OpenAI has secretly filed for an IPO; the fastest it could list may be this autumn
7、Goldman Sachs and JPMorgan are considering futures products linked to GPU rental pricing
Market Snapshot
1、Latest Bitcoin update: <a data-currency='BTC' href='/trade/BTC_USDT'>$BTC gives back the overnight gains, currently around $62,790; in the past 24 hours, $72.57 million was liquidated, with long liquidations dominating;
2、U.S. stocks stabilized on June 8, recouping some of the losses from last Friday. Chip stocks led the rally, and news that Iran and Israel have announced they will stop attacking each other also eased investors’ nerves. The S&P 500 rose 21.99 points, up 0.3%, to 7,405.73; the Nasdaq rose 220.23 points, up 0.9%, to 25,929.66; the Dow Jones Industrial Average fell 80.77 points, down 0.2%, to 50,786.01. The Philadelphia Semiconductor Index surged 5.6%, and Intel jumped 11%.
（Source: Bitcoin Counter Flow）
3、In the BTC/USDT liquidation map, using the current 62,760 USDT as the reference: if it drops to around $61,725, the cumulative long liquidation amount would exceed $126.3 billion; if it rises to around $64,650, the cumulative short liquidation amount would exceed $12.54 million. The short liquidation amount is roughly on par with the long side. It’s advisable to manage leverage reasonably and avoid triggering large-scale liquidations amid market moves.
（Source: Coinglass）
4、Within the past 24 hours, BTC spot saw inflows of $1.12 billion, outflows of $1.13 billion, for net outflows of $100 million.
（Source: Coinglass）
5、Within the past 24 hours, \$ETH, \$XAU, \$BCH, \$H, $WLD , etc. saw net outflows lead in derivatives trading, presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）：「In the past three days, the funding rate of CLUSDT suddenly started rising sharply. In these three days I’ve paid roughly 20% of the funding rate. Even though I still think WTI continuing to fall is fine, having to carry such a high funding rate is a bit painful. And Iran and the U.S. have been going back and forth all the time—if it doesn’t work out, I’m going to cut the position. Right now, one-third of my profits are already going to pay the funding rate.»
「Just like I’ve always said, I’m not worried about $BTC ’s price action. And in practice, that’s been proven: investors clearly have an interest in bargain hunting for Bitcoin around $60,000. If it keeps falling, they’ll most likely increase the bargain-buying力度. As the panic-driven exit by short-term investors comes to an end, the sentiment around selling 32 BTC is already about the same as it’s going to get.»
「Next, it goes back to the macro sentiment dominating—back to inflation-related developments—so I still need to be careful with the CPI data to be released on Wednesday. My WTI short position also plans to wait another day, because Trump said an agreement should be signed on Wednesday, and Iran has also said it has opened a safety corridor through the Strait of Hormuz. Of course, opening it doesn’t mean it’s fully open to free passage.»
「I’ve shorted WTI at high levels for three rounds on event triggers. All three times I exited around $90. Unfortunately, in this round I got greedy at $85 and didn’t exit according to the pre-set plan, which caused me to give back a lot of profit, and I was also forced to eat some funding rate. Let’s see—if it can break below $89, I’ll leave. If there’s a chance, I’ll continue to short at higher prices.»
「In the past 24 hours, Bitcoin’s turnover rate has fallen by half compared with last week, but it’s still at a relatively high level. The market may still be quite worried about Wednesday’s CPI data, so short-term investors are still watching Trump pushing oil prices lower.»
Today’s Preview
1、China May trade balance (in RMB billions), prior value 585.69
2、China end-May foreign exchange reserves (in $ billions), prior value 3410.55
3、China May trade balance (in $ billions), prior value 84.82
4、Germany April seasonally adjusted trade balance (in € billions), prior value 19.8
5、Canada April trade balance (in C$ billions), prior value 1.78
6、U.S. April trade balance (in $ billions), prior value -60.3
7、U.S. May NAR seasonally adjusted existing home sales (annualized monthly rate), prior value 0.2%
