Feilong Daily | June 5th, 2026 The pancake fell below 62000 Ethereum falls below 1700 This round of sharp decline is mainly due to five reasons (2) Institutions are withdrawing The Da Bing ETF has experienced 13 consecutive days of outflows, with outflows exceeding $3 billion in the past two weeks. Institutions are not taking orders, and the market is naturally weak. (2) Technology stock crash Nvidia's bearish sentiment triggered panic, South Korea's KOSPI crash triggered circuit breakers, and risky assets were all smashed together (3) ZEC Black Swan ZEC infinite issuance vulnerability exposed, prices plummet, Hayes liquidates, market panic spreads (4) US IPO sucking blood SpaceX、Anthropic、 Yushu, Zhipu AI and others are queuing up to go public, and funds are chasing after AI and rockets, causing the cryptocurrency industry to be drained (5) Non farm data weighing on the market Tonight's non farm payroll announcement at 20:30, everyone is waiting, no one dares to take action The most important thing about spot goods is to control them. Contracts are still dominated by high prices. At 81300, I looked at 49000-55000 Wait for the data to land, wait for the emotions to stabilize before operating, don't worry