Key Takeaways
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Macroeconomic Environment: U.S. PPI data signals easing inflation; Trump continues to pressure Powell for rate cuts. All three major U.S. stock indices closed higher. However, after-hours trading saw a sharp reversal as geopolitical tensions escalated—Israel launched an attack on Iran, sending oil prices soaring by 8%. Risk-off sentiment surged, gold jumped back to $3400, and global stock markets tumbled.
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Crypto Market: Bitcoin remained highly correlated with U.S. equity futures. Following the geopolitical escalation, the crypto market saw an accelerated downturn after hours. The Trump campaign's early warning of potential conflict heightened market fears, and the actual military strike triggered a wave of sell-offs. The entire crypto market experienced broad declines: ETH/BTC dropped sharply, and altcoins saw even steeper losses.
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Today's Outlook: U.S. June 1-Year Inflation Expectations (Preliminary). U.S. June University of Michigan Consumer Sentiment Index (Preliminary)
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,045.25 | +0.38% |
| NASDAQ | 19,662.48 | +0.24% |
| BTC | 105,676.30 | -2.74% |
| ETH | 2,642.81 | -4.65% |
Crypto Fear & Greed Index: 61 (down from 71 24 hours ago), currently in Greed territory
Macro Economy
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Israel officially announced a preemptive strike on Iran; Israeli PM stated military operations will last for several days
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Trump: There is a strong possibility of a large-scale conflict in the Middle East
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U.S. May PPI rose mildly by 0.1% MoM; core inflation hit a near one-year low
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Trump proposed a 200 basis point Fed rate cut, claiming it could save $600 billion annually
Industry Highlights
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The U.S. SEC officially scrapped the expanded "Custody Rule" proposal and "Rule 3b-16," along with other Gensler-era regulations
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Trump: Will establish a clear regulatory framework to help the U.S. lead the future of Bitcoin and crypto
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The U.S. Senate is set to vote on the GENIUS Act on June 17
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U.S. SEC delayed decisions on Bitwise Dogecoin, Grayscale Hedera, and VanEck Avalanche ETFs
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Ripple and SEC proposed a settlement on a $125 million fine, seeking to end years-long litigation
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DTCC (Depository Trust & Clearing Corporation) is exploring stablecoin applications
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Ant Digital Technologies has applied for a Hong Kong stablecoin license
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Shopify partners with Coinbase and Stripe to promote USDC stablecoin payments
Project Highlights
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Trending Tokens: PAXG, XAUT
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Geopolitical conflict heightened risk-off sentiment; gold broke above $3400, and tokenized gold assets PAXG and XAUT surged in tandem
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