Orange Evening Interpretation 6.11 Just now, Musk officially apologized to Trump on Twitter, saying that he regretted making some remarks about the president. Last week, they went too far, and also circled Trump. This apology is very formal. It is estimated that soon we can see that Scott and his son go to and from Haihu Manor again. The farce should be coming to an end According to Morgan Stanley's interpretation, the Chuanma Tear off is not a temporary idea, but a carefully planned strategy by Lao Ma, which aims to get the most attention from traffic. The time node of the Tear off is just the eve of Tesla's coming online robotaxi. If you can show up at a high moment when the world is waiting to see jokes, it is definitely the top marketing. Of course, Musk may also want to win Trump's attention again, which is very similar to the conflict between male and female friends. In short, now the two people have reached a win-win situation. Tesla's stock price has basically returned to the level of No. 4, and it is estimated that it will be stronger tonight. Doge will take off from the moment when the tweet is sent this afternoon. The cake has also returned to more than 11w. From the perspective of the financial market, nothing has happened, and even the market has been forced to wash a wave of healthier. In addition, last night was the second day of China US trade negotiations, and it was said that the talks lasted for a full 6 hours. Both sides were discussing work at McDonald's, so it should have delved deeper. China also responded to the negotiation results for the first time, using professional, rational, and in-depth language. Xinhua News Agency reported that China US negotiations reached a framework agreement in principle and reported the results to leaders of all parties. It is said that China will lift export controls on rare earths, and the US exchange conditions may include chip restrictions on China. Good news may be released as soon as tonight. In addition, India US negotiations also progressed last night, and a temporary agreement may be reached before the end of the month. The US and Mexico also reached a tariff agreement on steel imports, canceling the 50% tariff on steel below a certain quantity. Last night, both the US stock market and the cryptocurrency market experienced an upward trend due to progress in trade negotiations. Last night, the U.S. digital asset market clear bill CLARITY passed the deliberation of the House Agriculture Committee and the deliberation of the Finance Committee. Now it has entered the final stage of the House of Representatives' plenary vote, and should soon come to a conclusion. The main content of this bill is to clarify whether the encryption is supervised by the SEC or the CFTC, and to propose a perfect regulatory framework. If it is passed, it will definitely be good for the currency market, which will make it easier for many institutions or individuals concerned about compliance issues to accept encryption. Interestingly, the meeting rejected the amendment that prohibits Sichuan from popularizing its family's profits from trading and promoting encryption, as well as the amendment that fully authorizes the CFTC to obtain regulatory power. In short, it is a good thing, and now both the SEC and the CFTC It is pro encrypted, basically no difference, all good. SOL's ETF has made the latest progress. Last night, the SEC required issuers planning to launch spot SOL ETFs to submit revised S-1 forms within next week. Industry insiders believe that the ETF will be approved within 3 to 5 weeks. Additionally, there are reports that the SEC seems willing to accept a plan that includes a staking mechanism, which is not only beneficial for SOL but also for ETH. Therefore, both ETH and SOL showed strong trends last night. In addition, Bloomberg believes that the market will soon enter the summer stage of counterfeit ETFs, and even gave the pass rates of other counterfeit ETFs in 2025, LTC 90%，SOL 90%，XRP 85%，DOGE 80%，HBAR 80%，ADA 75%，DOT 75%，AVAX 75%，SUI 60%，TRX I'm not sure, there's nothing to say about these few, they are all worth buying projects. Last night, there was negative news regarding state level cryptocurrency reserves in the United States. Connecticut passed the HB7082 bill, which prohibits state governments from holding or investing in virtual currencies. The bill was unanimously passed in both the House of Representatives and the Senate with no opposition votes. This has little impact on the market, because this state is originally the territory of the Democratic Party, and it is reasonable to oppose Trump. At present, the state that has passed the strategic reserve is New Hampshire, which can use 5% of the state funds to buy big cakes. The state that is close to passing is Texas, which has entered the signing process of the governor. The bill requires the establishment of a Bitcoin reserve, which is held for at least five years, and uses cold storage. This is basically stable, and the governor is an absolute supporter of Trump. In addition, the previous bill in Arizona was vetoed by the governor with one vote, and only the encryption bill that does not sell confiscated, unclaimed, or airdropped items was passed; At present, 14 states are actively promoting this policy, and it is estimated that it depends on which camp the local area belongs to. Republicans should have a chance. Then let's talk about the market. Last night, the ETF of Bitcoin continued to flow 430 million yuan, Ethereum also made strong progress, with a net inflow of 125 million yuan. Other listed companies, such as The Blockchain Group in Europe, were approved to raise about 11 billion dollars to purchase Bitcoin. However, this figure is a bit exaggerated. The total market value of this company is only 498 million yuan. From the main point of view, the current amount of funds is to support the pie to stay near 11 weeks. As for whether to hit a new high, I think it is necessary to wait for more favorable tariff negotiations and increased interest rate cut expectations. So tonight's CPI also needs our attention. At present, both the core and broad CPI are expected to be higher than the previous value, indicating that the market He believes that inflation has begun to rebound. If Trump can get another false data to force Powell to cut interest rates, it may rise tonight, otherwise CPI will rise Exceeding expectations, the market may experience a pullback; In terms of other knockoffs, the sectors that are currently performing well include DEFI, meme, layer2, rwa, AI launchpad, and l1. In addition, I personally believe that after the listing of Circle, the focus of global funds has shifted to stablecoins, and stablecoins will definitely experience explosive growth in the future. At this time, on chain infrastructure is likely to usher in a second spring, so I tend to invest in leading infrastructure in DeFi, DEX, PERP, including MEV, staking/staking, and other tracks, because off market large capital is not interested in so-called substitution projects. Of course, the upward space for substitution projects is definitely greater, depending on your capital size and risk preference. Personally, I think this round is due to the new currency. Too many have been released, which has made me more inclined to focus on the top players and capture beta profits.