Square Daily Report | June 9
1️⃣ Geopolitical Situation: Media reports suggest Trump is pressuring Netanyahu to stop expanding strikes on Iran, easing Middle East tensions and boosting U.S. stocks, with semiconductor indices rising over 5%, and Intel surging 11%.
2️⃣ Market Dynamics: BTC is priced at $63,080; ETH at $1,696, with the ETH/BTC ratio falling back to 2016 levels, indicating institutional funds continue to concentrate in Bitcoin.
3️⃣ Macro Trends: The U.S. stock market capitalization to GDP ratio has risen to 238%, a new all-time high; Korea's KOSDAQ index triggered a circuit breaker again after an 8% decline, with trading paused for 20 minutes.
4️⃣ Institutional Views: JPMorgan states that strategy needs to rebuild dollar reserves to restore market confidence; also notes that the probability of passing crypto legislation within the year is below 50%.
5️⃣ TradFi Dynamics: The U.S. stock market capitalization to GDP ratio has reached a record high of 238%, reigniting concerns over market valuation bubbles.
