Crypto Market Focus: LABUBU Auction Frenzy, BTC Key Support Level and Macroeconomic Data

Market Overview

Tonight, the U.S. May CPI data and the results of the ten-year Treasury auction will be announced, drawing significant market attention. Economists expect a month-on-month increase in CPI of 0.2%, but investors are concerned that tariffs may drive up inflation levels. The demand for the ten-year Treasury auction has also become a focal point, especially in the context of current trade policy uncertainty. If the CPI data exceeds expectations and the Treasury auction performs poorly, it could create a double blow to the bond market. Analysts point out that inflation data may directly affect auction demand, and investors are closely watching relevant performances to assess changes in market sentiment.

Major global economies are accelerating the improvement of the regulatory framework for crypto assets, driving the reconstruction of the market value system. Regulatory measures in the United States, the European Union, and Hong Kong have promoted the development of the stablecoin market and industry centralization. Recently, an IPO of a certain crypto payment company has attracted widespread attention, with its rising valuation reflecting investor confidence in compliant crypto financial infrastructure. At the same time, crypto concept stocks are experiencing an investment boom, with the stock price of a certain large trading platform maintaining high volatility from late May to early June.

Bitcoin recently broke through $110,000 and is currently consolidating below $110,668. Technical analysis indicates that if it breaks above $110,700, it may further rise to $112,700 or even $115,103. According to a certain analysis agency, Bitcoin has broken through the short-term downtrend and formed a bullish breakout pattern. Even though this week's CPI data may bring pressure, as long as the price stays above $105,075, the bullish trend remains valid. Ethereum is also gradually becoming the market focus, with its implied volatility rising and bullish sentiment in the options market significantly strengthening.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC stabilize at the $105,000 support level? CPI data and U.S. bond auctions become the market focus](https://img-cdn.gateio.im/webp-social/moments-4fd5d60786895c3830cfb807c59f3197.webp01

The LABUBU market sentiment continues to soar, driving a significant increase in the market value of related tokens. The on-chain market has generally warmed up, with old MEME coins like $AURA and projects such as Useless in the Bonk ecosystem reaching new highs. It is worth noting that a well-known investor has recently maintained a positive outlook on HYPE, which has now surpassed SUI in market value, with the coin price continually hitting new historical highs.

Key Data

• Bitcoin: $109,642 (Year-to-date +17.09%), Daily trading volume $34.456 billion
• Ethereum: $2,789.39 (Year-to-date -16.28%), Daily trading volume $35.099 billion
• Fear and Greed Index: 65 (Greed)
• Market share: BTC 63.2%, ETH 9.8%
• 24-hour liquidation data: 106,468 people were liquidated, with a total amount of 320 million USD.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC stand firm at the $105,000 support level? CPI data and US bond auctions become the market focus])https://img-cdn.gateio.im/webp-social/moments-4e66808c014e8251db8c00ed5bb68bde.webp(

ETF Fund Flow

• Bitcoin ETF: +$431 million
• Ethereum ETF: +125 million (net inflow for 17 consecutive days)

Today's Focus

• US May CPI data released
• A certain wallet platform exclusively launches a new project TGE.
• Multiple project token unlocks

Market Highlights

• US regulators request updates to Solana ETF application documents
• Ethereum spot ETF continues to receive capital inflows
• A certain exchange has submitted a new ETF listing application.
• Institutional investors large withdrawals of ETH
• The analysis report indicates that the rise of Bitcoin is not a speculative frenzy.
• Well-known investors are optimistic about the long-term prospects of BTC.
• Multiple institutions are increasing their investment in Bitcoin.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC stand firm at the 105,000 USD support level? CPI data and US bond auction become the market focus])https://img-cdn.gateio.im/webp-social/moments-3484f6c2a24ab3e1208628f055de2129.webp(