Bitcoin has a new line in the sand. Thursday’s core PCE could stress test it.

The People's Bank of China will increase overnight reverse repo operations at the end of June. Huaxi Securities believes that in the short term, the central overnight interest rate will approach 1.30% -1.40%, leading to a downward trend in market interest rates. In the long run, whether China's policy interest rate system is centered around overnight interest rates depends on its operational structure: if the People's Bank of China increases its operating frequency and scale, short-term market interest rates will be re priced to overnight policy rates, and the framework will shift towards the Federal Reserve style overnight interest rate dominant model; If overnight reverse repurchase is used only sporadically, the existing system centered around 7-day reverse repurchase will continue, and overnight reverse repurchase will only play a role in stabilizing the short-term interest rate center.

Zhang Jun, Chief Economist of Galaxy Securities, stated at the 2026 Mid term Strategy Meeting that AI and geopolitics reshape the global macro, AI drives the K-shaped differentiation of the economy and market, and geopolitics triggers six major reconstructions of the monetary system. Zhang Jun believes that Token, with its high-frequency real demand, standardized attributes, and decentralized features, has the potential to become a currency anchor in the AI era.

The Cardano ecosystem project SecondFi has released a security update, confirming that the root cause of security incidents is at the address level. SecondFi recommends users not to restore mnemonic words to other Cardano wallets, as this operation cannot reduce security risks, which may be triggered when users sign transactions. The team is advancing the verification process for asset recovery, and users should wait for official guidance. Currently, the only recommended action is to submit a work order.

According to JinShi Data, Danske Bank analysts Kirstine Kundby Nielsen and Jens Peter Sorensen predict that the Federal Reserve will raise interest rates in December 2026 and March 2027, and US interest rates will rise in the coming year. Analysts predict that within the next year, the 2-year and 10-year US dollar swap rates will rise to 4.15% and 4.50%, respectively. Dansk Bank expects that the deterioration of the US debt burden will put upward pressure on the long end of the yield curve. The risk is that the speed and extent of interest rate increase by the Federal Reserve will exceed Dansk Bank's current forecast.

The token fell from nearly $3 to about $0.50 in hours, wiping out close to $3 billion in market value, with no exploit or announcement to explain it. Onchain investigator ZachXBT warned in April that M's price had been propped up by insiders.