CICC Wealth believes that short-term market fluctuations are actively cooling down, and points out that the crowded technology track, index restructuring, and high levels of leveraged funds are the three major changes in the current market. The valuation of semiconductors, communication equipment, components, consumer electronics, optical optoelectronics, and electricity is at a relatively high level in the past decade, and the transaction volume of semiconductors and communication equipment accounts for more than 40% of the entire market. The adjustment of index components has led to a significant increase in technology equity, and the volatility of technology stocks has affected the index. As of June 5th, the total market financing balance was 2.89 trillion yuan, and the financing balance of semiconductors, communication equipment, securities, and batteries was nearly 700 billion yuan, accounting for over 20%.

According to Bloomberg, the Hungarian government will lift criminal penalties for cryptocurrency trading and revoke relevant regulations tightened during the tenure of former Prime Minister Orban Viktor. Hungary required cryptocurrency to go through an approved verification process for fiat and cryptocurrency trading last year, otherwise violating regulations could result in imprisonment.

According to DefiLlama data, DeFi TVL has fallen below $70 billion for the first time since February 2024. （Cointelegraph）

According to Whale Alert monitoring, the USDC Treasury has cast 250 million new USDCs on the Solana network.

According to the PRO main order list, the total transaction data of BTC and ETH main players in the past 24 hours is as follows: BTC: Accumulated transaction volume of 914 million US dollars, of which 491 million US dollars were bought and 423 million US dollars were sold, with a transaction difference of 68.1635 million US dollars ETH: Accumulated transactions of 772 million US dollars, including buying transactions of 405 million US dollars and selling transactions of 367 million US dollars, with a transaction difference of 37.5678 million US dollars The latest data shows that the main players still have a layout in key price points: BTC net pending order difference is $488 million; The net hanging order difference for ETH is $126 million. The main pending orders may withdraw or close at any time, and non PRO versions of the K-line cannot see its changes in real time. The PRO 'Main Large Order Tracking' indicator monitors every large pending order in real-time, helping you determine if this' wall 'is still there. Note: If the difference between pending orders is positive, it indicates that the main force is placing more limit orders than sell orders on the currency, and there are active takeover orders below the current price; If it is negative, the opposite is true, as there is a reserve of selling pressure above. The data is for reference only and does not constitute any investment advice.