Key Takeaways
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Macroeconomic Environment: Despite Friday’s core PCE data indicating easing inflation and a rebound in soft data like consumer sentiment index, market sentiment turned tense again due to Trump’s fluctuating tariff policies. Following news of tech industry sanctions, U.S. stocks opened lower but later rebounded and narrowed losses after Trump expressed a desire to resolve tariff disputes through a call.
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Crypto Market: Influenced by rising tariff tensions, Bitcoin mirrored U.S. stock movements, dropping 1.5% on Friday to near the $103,000 support level. After Trump mentioned a potential call, Bitcoin rebounded for two consecutive days over the weekend. The market showed clear divergence: Bitcoin dominance rose to 64.5%, ETH/BTC fell for three straight days, and altcoins remained sluggish.
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Today’s Outlook: U.S. May ISM Manufacturing Index. Cetus plans a Space session to share details of the hacking incident and recovery progress. EDGEN lists.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,911.68 | -0.01% |
| NASDAQ | 19,113.77 | -0.32% |
| BTC | 105,644.20 | +1.00% |
| ETH | 2,539.28 | +0.43% |
Crypto Fear & Greed Index: 64 (up from 56 24 hours ago), indicating Greed
Macro Economy
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U.S. April Core PCE YoY recorded at 2.5%, the lowest since March 2021; market expected 2.5%
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U.S. May University of Michigan Consumer Sentiment Final Index: 52.2 (expected 51); 1-year inflation expectation final: 6.6% (expected 7.1%)
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Trump: China has violated agreements with the U.S.; Becerra: Trade talks with China are “a bit stalled”
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U.S. plans to expand sanctions on Chinese tech firms, targeting subsidiaries as well
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Trump to raise import tariffs on steel to 50% starting June 4
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Fed Governor Waller: Tariffs may have peak inflation impact in H2 2025; “Good news” is that rate cuts remain possible later this year
Industry Highlights
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SEC meets with Kraken’s parent company to discuss regulatory paths for tokenization and staking services
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Hong Kong’s “Stablecoin Bill” officially becomes law
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NYC Comptroller vetoes plan for municipal Bitcoin bonds
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U.S. Senate passes joint committee report on Texas Bitcoin Reserve Bill
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Acheron becomes the first crypto market maker to obtain a CASP license under EU MiCA regulations
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Trump Media Group raises $2.44 billion, becomes major public Bitcoin holder
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Meta shareholders vote against proposal to include Bitcoin in reserves
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Stablecoin total market cap surpasses $250 billion, hitting record high
Project Highlights
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Hot Tokens: FLOCK, MASK, LABUBU
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FLOCK: Up 250% in past 3 days after listing on South Korean exchange
Weekly Outlook
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June 2: Cetus to hold Space session on hacking incident and recovery; EDGEN launch; U.S. May ISM Manufacturing Index
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June 3: South Korean presidential election—16 million crypto voters may sway results; U.S. SEC decision deadline on WisdomTree and VanEck’s Bitcoin & Ethereum spot ETF redemption applications
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June 4: Second hearing on crypto market structure and stablecoin regulation; U.S. May ISM Non-Manufacturing Index
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June 5: Fed Beige Book release; OKX Wallet to suspend Runes market support; TAIKO token unlock (69.37% of supply, ~$46.9M); U.S.-Germany leaders’ meeting; ECB rate decision
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June 6: U.S. May Non-Farm Payrolls and Unemployment Rate; SEC Crypto Task Force to hold “DeFi and the American Spirit” public roundtable
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