Cryptocurrency Market Performance
Currently, the total market capitalization of cryptocurrencies is $2.18 trillion, BTC accounts for 58.2%, which is $1.27 trillion. The market capitalization of stablecoins is $316.4 billion, decreasing by 1.15% in the last 7 days, with USDT making up 59.04%.
CoinMarketCap's top 200 projects show a small portion rising and most falling, among which: BTC has dropped 14.07% over the past week, ETH down 15.99%, SOL down 19.33%, BEAT up 200.37% over the week, and SIREN up 162.07% over the week.
This week, the net outflow from Bitcoin spot ETFs in the US was $1.723 billion; the net outflow from Ethereum spot ETFs was $174 million.
Market Forecast (June 8 - June 14):
RSI index stands at 45.55 (neutral, higher than last week), Fear and Greed index at 11 (fear), Altcoin Season index at 48 (neutral).
BTC: $59,000-70,600 (pay attention to this week's CPI data)
ETH: $1,500-1,850 (weak rebound)
SOL: $55-76 (very weak)
Risk Warning:
CPI data "explosion" risk (June 10) (if the data exceeds expectations, it may trigger panic selling in the cryptocurrency market, with BTC directly testing the 60,000 mark)
Risk of support breach at $59,000 (if BTC falls below this key position, large-scale leveraged liquidations may trigger a chain decline)
Continuous outflow of ETF funds + interest rate hike expectations ("the more it falls, the more it sells" negative cycle may self-reinforce)
About "Can we find the bottom?"
Market sentiment and technical signals are giving completely opposite answers. On one hand, extreme overselling and strong fear typically indicate that the bottom is near; on the other hand, macro risks (CPI data) hang over our heads like a sword, making investment decisions feel more like a gamble rather than a safe opportunity. The CPI data this week will act as the "starting gun" for directional choices. On June 6, the Ahr999 bottoming indicator reached 0.3, very close to the historical low of 0.27, aggressive investors may consider small positions near 60,000; conservative investors are advised to wait for the CPI release, and if it breaks below 60,000, it would be wise to patiently look towards the safety zone in the 50,000s.
Understanding the Present
Bitcoin falls below $62,000, market faces "bloodbath"
The cryptocurrency market experienced one of the most brutal weeks since 2026. Bitcoin's price dropped from around $74,000, with a weekly decline of over 17%, hitting a low of $60,867. The total market capitalization of all cryptocurrencies shrank to $2.1 trillion, evaporating about 15% in a single week. The fear and greed index fell to 14, in the "extreme fear" zone.Digital asset funds record the second largest weekly net outflow of the year
Market risk aversion is strong, with funds fleeing quickly. According to CoinShares data, global digital asset investment products had a weekly net outflow of $1.67 billion, marking the third consecutive week of outflows. Among them, Bitcoin products saw a net outflow of $1.438 billion, the largest weekly outflow on record since 2026.MicroStrategy discloses Bitcoin sales
As the world’s largest holder of Bitcoin, MicroStrategy disclosed the sale of 32 BTC. Although the number is small, this move, combined with the news of its unrealized losses reaching about $10.8 billion at one point, heightened market concerns regarding its financial status and is considered one of the factors triggering market panic.Binance announces US stock trading portal, entering traditional finance
Binance announced the launch of a US stock trading portal, supporting users in trading over 7,000 US stocks and ETFs, offering 24-hour trading services. This service is executed by compliant broker Alpaca. Additionally, Binance plans to launch a stock tokenization scheme called "bStocks," aiming to create a "multi-asset financial super app."Coinbase launches Pre-IPO perpetual contracts and Indian payment channel
Coinbase has launched Pre-IPO perpetual contracts for unlisted companies, allowing users to speculate on the share prices of upcoming unicorn companies. At the same time, the company has introduced a direct payment channel for the Indian market in order to expand its business in emerging markets.Large US banks jointly launching a tokenized deposit network
Several large US banks, including JPMorgan Chase, Bank of America, and Citigroup, plan to jointly launch a tokenized deposit network through the Clearing House. This move is seen as a direct counter to the dominance of stablecoins (like USDT) by traditional financial institutions, aiming to provide regulated on-chain settlement in US dollars.US Treasury Secretary promotes the CLARITY Act and Bitcoin strategic reserves
US Treasury Secretary Scott Payson called on legislators to quickly pass the CLARITY Act (Cryptocurrency Asset Regulation Clarity Act) to establish a regulatory framework. He also acknowledged that America's "strategic Bitcoin reserves" remain in the "unknown territory" in practice and have yet to be operational.Japanese ruling party proposes yen stablecoin and cryptocurrency ETF framework
The Japanese ruling party, the Liberal Democratic Party (LDP), officially proposed a proposal on June 1, urging the government to promote a yen-backed stablecoin as a tool for cross-border settlement in Asia, and to establish a legal framework for cryptocurrency ETFs, aiming to strengthen the international status of the yen and attract institutional funds.TON announces name change to "Gram," quantum threat draws attention
Telegram founder Pavel Durov announced that Toncoin (TON) would be renamed back to its original white paper name "Gram," with the migration expected to take three weeks.
Additionally, Ethereum developer Justin Drake predicted a 50% probability that quantum computers would break Bitcoin's encryption algorithm by 2032, drawing attention to the threat of "Q-Day" and prompting the industry to consider post-quantum cryptography.Trump-related stablecoin USD1 delisted by HTX
HTX exchange announced the delisting of the Trump-related stablecoin USD1 due to the issuer freezing funds related to exchange addresses, converting its balance to USDT. This incident highlights the counterparty risk and operational risk inherent in centralized stablecoins.
Macroeconomics
On June 4, initial jobless claims in the US for the week ending May 30 were 225,000, expected 213,000, with previous value revised from 215,000 to 212,000.
On June 3, US ADP employment data for May showed an increase of 122,000, expected 117,000, with previous value at 109,000.
On June 7, according to CME's "Fed Watch" data, the probability of the Fed maintaining rates in June is currently reported at 96.7%, while the probability of cutting rates by 25 basis points is 3.3%.
ETF
According to statistics, from June 1 to June 7, US Bitcoin spot ETF net outflow was $1.723 billion; as of June 7, GBTC (GrayScale) had a total outflow of $26.676 billion, currently holding $8.742 billion, while IBIT (BlackRock) currently holds $49.226 billion. The total market capitalization of US Bitcoin spot ETFs is $81.01 billion.
US Ethereum spot ETF net outflow is $174 million.
Foreseeing the Future
Industry Conferences
ETHConf will be held from June 8 to June 10 in New York, USA.
Sharplink, SNZ, and ETH HK Hub will host the "Sharplink Community Breakfast @ ETH HK Hub" on June 9 from 9:00 to 12:00 in Hong Kong.
BTC Prague will take place from June 11 to June 13 in Prague, Czech Republic.
IVS2026 KYOTO will be held from July 1 to 3, 2026, in Kyoto, Japan.
WebX 2026 will be held from July 13 to 14, 2026, in Tokyo, Japan.
Important Events
The Chicago Mercantile Exchange Group (CME Group) plans to launch Nasdaq CME Crypto Index Futures on June 8, 2026, pending final approval from regulatory authorities.
The Wall Street Journal reported, citing sources, that Elon Musk's rocket company SpaceX plans to officially go public on June 12.
On June 10 at 20:30, the US will release the unadjusted CPI year-on-year rate for May.
On June 10 at 20:30, the US will announce the adjusted month-on-month CPI rate for May.
On June 11 at 20:15, the Eurozone will announce the European Central Bank deposit mechanism rate as of June 11.
On June 11 at 20:30, the US will report initial jobless claims for the week ending June 6 (in ten thousand).
Project Progress
The Arbitrum Foundation proposal is requesting $43.5 million in funding for operations in 2027, with on-chain formal voting expected to start on June 8.
Coinbase will launch perpetual stock index futures products on June 8.
The old Ribbon vaults of Aveo have closed, and withdrawal support is open until June 12, 2026.
Token Unlocking
Linea (LINEA) will unlock 108 million tokens on June 10, valued at around $2.74 million, accounting for 3.77% of circulation.
io.net (IO) will unlock 13.26 million tokens on June 11, valued at about $1.83 million, accounting for 3.77% of circulation.
Aptos (APT) will unlock 11.31 million tokens on June 12, valued at approximately $7.58 million, accounting for 0.67% of circulation.
Starknet (STRK) will unlock 126 million tokens on June 15, valued at around $4.28 million, accounting for 3.89% of circulation.
About Us
Hotcoin Research is the core research institution of the Hotcoin Exchange, dedicated to transforming professional analysis into practical tools for you. Through "Weekly Insights" and "In-Depth Reports," we analyze market contexts for you; leveraging our exclusive column "Selected Hotcoins" (dual screening by AI and experts), we identify potential assets and reduce trial-and-error costs. Every week, our researchers also interact with you live through live streams, interpreting hot topics and anticipating trends. We believe that warm companionship and professional guidance can help more investors navigate cycles and seize the value opportunities of Web3.
Risk Warning
The cryptocurrency market is highly volatile, and investing carries risks. We strongly recommend that investors conduct investments within a strict risk management framework after fully understanding these risks to ensure fund safety.
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