Key Takeaways
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Macro Environment: As expected, the Federal Reserve kept interest rates unchanged in its latest FOMC meeting. The updated dot plot projected two rate cuts in the second half of the year, easing previous market fears of a more hawkish shift. Chair Powell’s tone leaned slightly hawkish, noting persistent inflationary pressures. Meanwhile, Middle East tensions continued, but Trump stated he does not wish for U.S. involvement and left the door open for negotiations with Iran—helping ease market anxiety. Gold and oil prices dipped intraday, while U.S. equities were mixed. The passage of the stablecoin bill triggered a 34% surge in Circle’s share price.
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Crypto Market: Investor sentiment remained cautious amid Fed uncertainty and ongoing geopolitical tensions. Bitcoin’s volatility narrowed, reflecting indecision. With mixed signals from both the Fed and the Middle East, the market lacked a clear directional catalyst. Bitcoin closed up 0.33%, continuing its sideways trend. Both ETH/BTC and BTC dominance remained stable, as altcoins wait for a clearer move from Bitcoin.
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Today's Outlook: U.S. markets closed today (Juneteenth Holiday). Bank of England rate decision expected. ZKJ token unlock: 5.04% of circulating supply, worth ~$30.3M
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,980.86 | -0.03% |
| NASDAQ | 19,546.27 | +0.13% |
| BTC | 104,893.80 | +0.33% |
| ETH | 2,525.15 | +0.61% |
Crypto Fear & Greed Index: 57 (up from 52 yesterday) → Still Neutral
Project Highlights
- Trending Tokens: RAY, AERO, KAIA
- RAY (Raydium): Upbit announced listings for KRW and USDT pairs, leading to a 17% 24h surge.
- AERO (Aerodrome): As the leading DEX on Base, expectations rose following Coinbase’s DEX integration, boosting AERO trading volume. The token is up 62% over 7 days, and 19% in the past 24 hours.
- KAIA: Since announcing plans to issue a KRW stablecoin, KAIA is up 46% in the past
Macro Economy
Israel–Iran Conflict:
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Trump: “Iran must not possess nuclear weapons, period.” He aims to end the conflict swiftly and remains open to diplomacy.
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U.S. officials: The next 24–48 hours will determine whether diplomacy can resolve the conflict, or if military action becomes necessary.
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Israel reportedly struck Supreme Leader Khamenei’s underground HQ in Tehran.
FOMC Meeting:
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Fed held rates steady
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Dot plot still forecasts two cuts in 2025, though more members now favor no cuts
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Fed: Uncertainty outlook has improved, but remains high
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Powell: The economy is resilient, inflation slightly above 2%, and new tariffs could pressure inflation. Fed will remain patient amid uncertainty
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Powell: The framework review will conclude by late summer, potentially affecting the Fed’s communication strategy
Industry Highlights
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Hong Kong’s SFC approved BGE Virtual Asset Trading Platform license on June 17
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UK regulators to propose rules limiting bank exposure to crypto assets by 2026
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K33 launches SEK 85M equity raise to acquire 1,000 BTC
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Sam Altman reveals GPT-5 to launch this summer
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Ethena Labs x Securitize enable 24/7 conversion between USDtb and BUIDL
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Crypto broker FalconX reportedly in early-stage IPO talks
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Paxos launches Paxos Labs to support DeFi access and custom stablecoin issuance for institutions
This Week’s Outlook
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June 19:
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U.S. Markets Closed (Juneteenth)
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Bank of England Interest Rate Decision
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ZKJ Token Unlock: 5.04%, ~$30.3M
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June 20:
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LISTA Token Unlock: 19.36%, ~$7M
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Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
