Today’s assignment is really difficult to write. I’ve been chewing on it all night and still haven’t fully understood it. Making a trade right now is truly challenging. Actually, the overall sentiment was quite good before the argument. Although $BTC experienced slight fluctuations, the market sentiment remained positive. After the announcement of the phone communication between Trump and Xi Jinping, the U.S. stock market reversed from its downward trend and saw a decent rise for a while, with the Nasdaq and S&P 500 both increasing by nearly 1%.

In fact, the market sentiment today is still quite good. Both ROBINHOOD and Circle have reported some positive news. $HOOD surged because it might be included in the S&P 500, and after the news was announced, the price increased significantly, with its market cap surpassing Coinbase at one point. The news about HOOD is expected to be known around 5:30 AM Beijing time on Saturday. If included, it will take effect at the market open on June 23.

Circle, on the other hand, is really shocking. It started with a pricing of about $32 and surged more than three times after the market opened, peaking at around $103, before gradually pulling back to about $82 before closing, which is roughly 2.5 times the initial pricing. The rise of $CRCL also indicates that investors are willing to pay a premium for what might be the closest thing to a compliant stablecoin in the U.S.

Additionally, many friends believe that today’s decline in the cryptocurrency market, and even some declines in the U.S. stock market, are related to CRCL, thinking that CRCL is "sucking blood" from the market. I don’t know the truth, but I did sell my $MSTR to prepare for CRCL. The upside is that after I sold MSTR, it dropped by 3%. The downside is that I found the opening price of $72 too expensive and didn’t buy.

However, the hot sale of CRCL indeed reflects the recognition of stablecoins by traditional U.S. investors, which might be the best news today. Another piece of good news is that the U.S. and China have reached a consensus again. Trump even expressed his welcome for Chinese students to study in the U.S. Indeed, businessmen in politics are quite impressive. But I wonder how long this "consensus" can last and whether it will be another performance by TACO.

The worst part is that Musk and Trump are arguing with the money in my wallet. Actually, I’m doing okay; my friends at Tesla are really suffering. Every word from Musk is depleting Tesla’s shares. One friend contacted me late at night with just one question: how can we make Musk shut up? However, Epstein and the fact that Trump can’t be elected without "me" might be the most damaging news today, indicating that these two have completely fallen out.

Looking back at Bitcoin’s data, although $BTC nearly dropped below $100,000, the turnover isn’t that high. Only the investors at a loss are quite nervous, leading to a significant turnover, while earlier investors are still in a wait-and-see state without obvious signs of panic. As the argument between Trump and Musk escalates, market sentiment continues to deteriorate. It’s likely that the decline will only stop once the argument ends. I don’t know if the two can reconcile.

Although the price isn’t very friendly, the support between $93,000 and $98,000 remains very strong, and there are no signs of panic from these investors. This is what we often say: most investors between $100,000 and $105,000 are short-term investors and are more sensitive to price changes.

Moreover, the weekly report also stated that the current price maintenance is not due to an increase in purchasing power, but rather a decrease in selling volume. If negative news increases selling pressure and purchasing power doesn’t rise correspondingly, it will lead to the current situation. However, this currently has no essential impact on BTC; it’s more about the emotional release of U.S. stock investors.

Tomorrow is Friday, and there’s also non-farm payroll data in the evening. If the data meets expectations, it should help boost investor sentiment.

This post is sponsored by @ApeXProtocolCN | Dex With ApeX

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