Daily market key data review and trend analysis, produced by PANews.

Macroeconomic Market

The US stock market was heavily impacted on Friday, as the strong employment report in May immediately ignited expectations of interest rate hikes. The Nasdaq Composite Index plummeted 4.18% in one day, marking its largest decline since April 2025; the S&P 500 Index fell 2.64%, failing to achieve ten consecutive weeks of gains; the Dow Jones Index was also not spared, following a widespread sell-off in tech stocks.

Just as the new Federal Reserve Chair Jerome Powell is about to hold his first interest rate meeting, Trump has applied significant political pressure on him, stating, "There is no reason to raise interest rates," and accusing rate hikes of punishing and stifling the nation's success; however, Cleveland Fed President Beth Hammack warned that high inflation poses a greater risk, and if recent trends continue, action may need to be taken soon, while Treasury Secretary Yellen called for waiting for the impact of the war on inflation to become "clearer."

From June 7 to June 8, Israel and Iran experienced their first direct missile exchanges since the April ceasefire agreement took effect, with Israel striking not only western Iran but also raiding the Karun petrochemical company. Despite Trump's strong calls for both sides to cease fire to facilitate a new 60-day agreement, the flames of war continue to spread. In response, Brent crude oil soared by 5%, while WTI oil jumped by 4.6% to $96 per barrel, and gold fell below $4,300, hitting its lowest point since March 23.

Asian stock markets fell across the board, with the Japanese stock market closing down significantly on Monday by about 4.7%, retreating near the 64,000 point mark. Additionally, the Japanese government revised the annualized economic growth rate for the first quarter down from an initial value of 2.1% to 1.8%, with weak corporate capital expenditures being the main drag on economic growth; influenced by strong US employment data fueling expectations of Fed interest rate hikes, South Korea's stock market, heavily weighted in tech stocks, suffered a heavy blow. The South Korean KOSPI index briefly dropped over 8.8%, triggering a circuit breaker, and ultimately closed down 8.29%. The A-share market experienced oscillating adjustments throughout the day; by the close, the Shanghai Composite Index fell 1.7%, breaching the 4,000 point mark, the Shenzhen Component Index fell 3.22%, the ChiNext Index fell 3.69%, and the Science and Technology Innovation 50 Index fell 4.30%. The CPO concept and semiconductor chip stocks performed poorly, with Hui Lv Ecology hitting the daily limit down and Dongwei Semiconductor and Hongwei Technology both falling over 10%.

AI and the Stock Market

The aftershocks triggered by the US tech stock sell-off are ruthlessly tearing through the psychological defenses of overvalued global assets. Fears of rising financing costs due to interest rate hikes have mercilessly crushed the South Korean chip giants, with Samsung Electronics plunging 10.18% and SK Hynix dropping 7.68%. The extreme declines even put South Korean retail investors who leveraged their entire rental margins in despair of liquidation.

Despite the dreadful market conditions, the "new stock god" Serenity appears remarkably calm, pointing out that the declines of Nvidia (down 6.2%), Micron Technology (down 13.25%), and Palantir (down 22.02%) are merely part of normal market adjustments. Broadcom has projected AI demand expectations out to 2028, indicating that the underlying AI infrastructure logic remains solid as a rock.

In the midst of panic, top tech giants and political leaders have stepped in to back the AI narrative. Nvidia CEO Jensen Huang publicly announced the establishment of a multi-year AI memory chip partnership with SK Hynix and committed to a "substantial increase" in purchase scale this year, declaring that this is a great opportunity to buy stocks at cheap prices. South Korean President Lee Jae-myung also voiced strong support on the occasion of his first anniversary in office, emphasizing that the South Korean stock market is still significantly undervalued, and all citizens will benefit from a stock market rise.

Capital's attention is rapidly shifting towards areas with higher certainty and stronger liquidity. Notable trader Eugene publicly announced his exit from the crypto market last Sunday, shifting all his focus to the US stock market, believing that the stock market currently holds a far superior risk-reward ratio compared to cryptocurrencies. Meanwhile, SpaceX is set to have an epic IPO this week, alongside the listing expectations for OpenAI and Anthropic, as well as Oracle's earnings report, which are draining liquidity from the global risk markets.

Bitcoin Market Conditions

Last Saturday, Bitcoin fell below the $60,000 low set on February 6, nearly dropping below $59,000. Bitcoin is currently hovering near the 200-week moving average (about $62,000), which has become a key support level. On-chain data shows extremely extreme overselling signals, with the RSI plummeting to 15.5, hitting the lowest level since the March 2020 crash; the MVRV ratio has also dropped to a historical bottom range of 1.2. However, the heavy selling pressure above remains severe, with a large number of sell orders firmly pressing against the key resistance level at $65,000, and both bulls and bears are engaged in an epic battle for the chips.

Bearish Opinions

The bearish camp believes that Bitcoin is facing a deadly dual threat from the serious bloodsucking of tech giants' IPOs and institutional leverage blowups. Once it breaks key support, it will trigger an immeasurable abyss-like crash.

• DWF co-founder Andrei Grachev: Extremely worried that BitMine and Strategy may trigger the largest market crash in crypto history, questioning whether the market is prepared for a fall to $10,000 to $20,000.

• Eugene: The risks of Strategy (MSTR) and Michael Saylor are only just beginning to appear; as long as the strong correlation between MSTR and Bitcoin remains intact, Bitcoin holds no value for long positions.

• NYDIG Global Research Director Greg Cipolaro: The plunge is a result of the accumulation of multiple disasters, including the frenzied bloodsucking of AI and tech IPOs (SpaceX, OpenAI), quantum computing security threats, the US government's seizure of $1 billion in Iranian assets, and the massive psychological blow from Strategy's liquidation of BTC.

• Gilmo: Strategy bears an unrealized loss of $17.44 billion; if the price of the coin continues to remain sluggish, they will face an annual dividend bill of up to $1.5 billion, creating an irretrievable death spiral.

• CryptoQuant analyst Axel Adler Jr: The price has dropped below the short-term holders' breakeven cost of $76,000, with a net realized loss of up to $7 billion in the past seven days, and it is currently retesting $62,000; $54,000 may be the ultimate defensive line of this round.

• Ali Charts: If Bitcoin's defense line is breached, it will directly face the 300-week SMA ($55,000) and the 400-week SMA ($42,500).

• CGT Trader: Although there is a short liquidation zone from $64,000 to $66,000, the low time frame structure is severely bearish, and a continued sharp drop downward is the most likely scenario.

• CryptoCache: High time frames show that it may just sweep liquidity between $63,000 to $64,000 before continuing to plunge; retail investors who went long over the weekend are acting too arrogantly.

Bullish Opinions

The bullish camp firmly believes that the current despair and on-chain indicators perfectly replicate the characteristics of every major bottom in history, and the short-term panic is precisely the golden pit that awaits an epic rebound.

• Glassnode co-founder Rafael: Bitcoin has entered a valuation cluster area historically associated with bottoms, with the bottom likely falling between $46,000 to $54,000; it has reached the 200-week moving average of $61,700, and historically, there have been only 7% instances of a breach below this median MVRV.

• Cointelegraph: The RSI has dropped to 15.5, an extremely oversold state that mirrors the situation in early 2020 and February 2026; as long as it maintains above $60,000, a strong rebound to $70,600 is expected in the coming weeks.

• Scott Melker: Short-term holders' profit-loss ratio has dropped to an all-time low; 5.3 million long-term chips are underwater, and market sentiment reached an "extreme despair" that perfectly synchronized with prices on June 3, which usually indicates that the bottom is near.

• CrypNuevo: The price has returned to the lows of a four-month range, and a 25% sharp drop over four weeks has liquidated all longs, with extreme overselling triggering a strong rebound targeting the range high of $80,000.

• Analyst Killa: This round's cycle is astonishingly similar to 2022; although it consolidated at $108,000 at the top and trapped a lot of funds, the more aggressive deviation after sweeping the $74,000 low indicates that once the washout is complete, the next major cycle is about to begin, and it is crucial to firmly buy at this moment.

• AlphaBTC: The market is undergoing a brutal liquidity hunt; although it will "ping-pong" between $62,000 and $65,000 over the next week, the next peak will surely aim for $68,000 to $69,000.

Key Data (As of June 8, 13:00 HKT)

(Data source: Coinglass, Upbit, SoSoValue, CryptoBubbles)

• Bitcoin spot ETF: Net outflow of $1.72 billion last week, the second highest in history

• Ethereum spot ETF: Net outflow of $174 million last week

• HYPE spot ETF: Net inflow of $16.6451 million last week

• XRP spot ETF: Net inflow of $2.62 million last week

• Fear & Greed Index: 8 (Extreme Fear)

• Upbit 24-hour trading volume rankings: WLD, XRP, BTC, ETH, XLM

• Sector performance: The crypto market generally rebounded, with GameFi and NFT sectors leading with over 25% gain

24-hour liquidation data: A total of 105,931 people were liquidated worldwide, with a total liquidation amount of $631 million, including $297 million in BTC liquidations, $188 million in ETH liquidations, and $16.71 million in ZEC liquidations.

Today's Outlook

• Binance futures will launch 8 USDT perpetual contracts on June 8

• Coinbase will launch its first batch of perpetual stock index futures on June 8

• CME Group plans to launch Nasdaq crypto index futures on June 8

• Apple announces that WWDC26 will take place from June 8 to 12, focusing on AI and developer tools

• Ondo's perpetual contract platform Ondo Perps will launch on June 9

• HumidiFi (WET) will unlock approximately 256 million tokens on June 9, worth about $14.5 million

• Zhicheng and Minimax are expected to be included in the Hang Seng Tech Index at 9:30 on June 8

Today, the top 100 cryptocurrencies by market cap with the largest gains: BEAT up 112%, SIREN up 40%, NEAR up 12.5%, DEXE up 11.7%, ZEC up 8.5%.

Hot News

• Data: Tokens such as HOME, WET, ME will see large unlocks, with HOME unlocking approximately $40.2 million

• This week’s preview | SpaceX will land on Nasdaq on June 12; US May CPI data will be released

• Whale pension-usdt.eth increased its position by 10,000 ETH short 9 hours ago, bringing the total short position to 60,000 ETH

• 16,000 Chinese victims' UK lawsuit over the disposal of 60,000 bitcoins has made progress

• Syscoin cross-chain bridge faced an attack involving about 5 billion SYS, bridging services have been suspended

• The Bank of Russia initially only allows retail investors to trade Bitcoin, Ethereum, and USDT under the new regulations

• Whale Garrett Jin bought 4.2 million Binance Life tokens again, with total on-chain holdings accounting for 28.8% of the total token supply

• A New York judge has suspended the lawsuit regarding the ownership of 39,000 bitcoin wallets, with a court friend hearing taking place in July

• Trump: Economic improvement should not lead to interest rate hikes; the US has debt issues and many other problems to address

• "New stock god" Serenity: Jensen Huang strongly endorses silicon photonics and memory, with demand "beyond imagination"

• ZODL plans to activate a new network upgrade scheme and privacy pool Ironwood in July to enhance Zcash security

• Approximately 343,000 ETH in DeFi protocols are recently facing concentrated liquidation risks

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。