The cryptocurrency market cleared over $500 million within an hour
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In the past hour, the cryptocurrency market has cleared over 500 million US dollars. BTC reported $61100, ETH reported $1620, BNB reported $570, XRP reported $1.10, and SOL reported $64. （Watcher.Guru）
According to CoinDesk, Deribit's Chief Commercial Officer Jean David P é quignot stated that $60000 is an important structural threshold for Bitcoin. In the past year, a large amount of institutional funds have bought Bitcoin in the range of $60000 to $67000. If the price falls, unrealized losses will increase, holding costs will rise, and investors may panic and sell. The open interest contract of put options with an exercise price of $60000 on Deribit has a nominal value exceeding $1.2 billion, and market makers may be forced to sell spot or futures due to Gamma risk, thereby accelerating the price decline.
According to Arkham monitoring, a ZEC whale suffered a daily loss of $70 million. The large holder previously held a market value of $174 million, but now its holding value has halved compared to yesterday, with a book loss of $70 million within 24 hours. This major player has not sold ZEC for six consecutive months.
According to the Hong Kong Monetary Authority's announcement today (June 5th), a tokenized bond expert group has been established, consisting of representatives from industry associations, financial institutions, legal advisory firms, and technology suppliers, to explore policy measures, market practices, and innovative solutions.
According to Fundstrat strategist Tom Lee in an interview with CNBC, the current market is in a cycle that may be divided into three stages. In the short term, the S&P 500 index may rise from the current 7560 points to around 7700 points, but it may then enter a "digestion period". As of early June, the S&P 500 index has risen 11% this year, with better than expected corporate earnings being a key driving factor. The actual earnings per share for the first quarter were about $80, higher than the expected $70. An additional $40 in earnings per share for the whole year could theoretically drive the index up another 800 to 1000 points. He pointed out that the market needs to digest factors such as the uncertainty of Federal Reserve policies, energy shocks, and the lifting of IPO restrictions for multiple companies.
According to Onchain Lens monitoring, the decline in ZEC and HYPE has led to significant losses in the long position of Giant Whale Loracle. Among them, the 10x ZEC long position suffered a floating loss of over 3.2 million US dollars, and the 2x HYPE long position suffered a floating loss of 1.567 million US dollars. In addition, its long positions in NEAR, TON, ASTER, and XMR resulted in a total loss of $6.65 million.
