Crypto Market Trends and Outlook: BTC Breaks $110,000, Old Meme Coins Revive

Market Observation

At 20:30 tonight and 1:00 AM the next day, the US May CPI data and the results of the $39 billion ten-year Treasury auction will be announced, which the market is highly focused on. Economists expect the CPI to increase by 0.2% month-on-month, but investors are concerned that tariffs may push up inflation levels. At the same time, the demand for the ten-year Treasury auction has also become a focal point, especially against the backdrop of current trade policy uncertainties. If the CPI data exceeds expectations and the Treasury auction performs poorly, it could result in a double blow to the bond market, leading to a sharp rise in yields. Analysts point out that inflation data may have a direct impact on auction demand, and investors are closely watching relevant performances to assess changes in market sentiment.

As major global economies accelerate the improvement of their encryption asset regulatory frameworks, the market is undergoing a profound reconstruction of its value system. Recently, an IPO by a well-known stablecoin issuing company has attracted widespread attention in the market, with its valuation once soaring to 24 billion USD, reflecting investors' strong confidence in compliant encryption financial infrastructure. At the same time, crypto concept stocks are experiencing an investment boom, with the stocks of a certain well-known exchange maintaining high fluctuations from late May to early June.

Bitcoin has recently smoothly broken through $110,000. From a technical perspective, after breaking through $106,737, the Bitcoin price is currently consolidating below the key resistance level of $110,668. If it breaks through $110,700, it may further rise to $112,700 or even $115,103. According to a certain analysis agency, Bitcoin has broken the short-term downtrend and formed a bullish breakout pattern. Even though this week's CPI data may bring some upward pressure, as long as the Bitcoin price maintains above $105,075, the bullish trend remains valid. At the same time, Ethereum is gradually becoming the market focus, with its implied volatility increasing, short-term option volatility reaching over 70%, and bullish sentiment in the options market significantly strengthening.

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

Recently, the market sentiment for Labubu has been continuously high, with the mint green first-generation LABUBU toy fetching a sky-high price of 1.08 million RMB. The meme coin $Labubu's market cap skyrocketed from 19.51 million USD yesterday to 44 million USD today. The overall on-chain market is warming up, with the old MEME coin $AURA surging from a market cap of 1 million USD to 50 million USD last night. Useless in the Bonk ecosystem has reached a new high, with a price increase of 10 times within a week, and its market cap surpassed 50 million USD this morning.

Key Data (as of June 11, 12:00 HKT)

• Bitcoin: $109,642 (Year-to-date +17.09%), Daily spot trading volume $34.456 billion
• Ethereum: $2,789.39 (YTD -16.28%), daily spot trading volume is $35.099 billion
• Fear and Greed Index: 65 (Greed)
• Average GAS: BTC: 3.52 sat/vB ETH: 3.28 Gwei
• Market share: BTC 63.2%, ETH 9.8%
• 24-hour BTC long-short ratio: 0.9354
• Sector fluctuations: DeFi up 4.92%; L2 up 3.36%
• 24-hour liquidation data: A total of 106,468 people were liquidated globally, with a total liquidation amount of 320 million USD, including 58.91 million USD in BTC, 127 million USD in ETH, and 14.5487 million USD in SOL.
• BTC medium to long-term trend channel: upper channel line (108021.70 USD), lower channel line (105882.66 USD)
• ETH medium to long-term trend channel: upper channel line (2642.28 USD), lower channel line (2589.95 USD)

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

ETF Flows (as of June 10)

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

Today's Outlook

• A certain wallet will exclusively launch MEET48 (IDOL)
• A trading platform will delist the USDT perpetual contracts for X, BSV, BR, GUN, and SWELL on June 12.
• Delysium (AGI) will unlock approximately 69.03 million tokens today, which accounts for 4.00% of the current circulation, valued at about 3.8 million USD.
• io.net (IO) will unlock approximately 3.22 million tokens today, which is 1.98% of the current circulation, valued at about 2.5 million USD.
• Aptos)APT will unlock approximately 11.31 million tokens on June 12, accounting for 1.79% of the current circulation, valued at approximately $52.7 million.
• BounceBit (BB) will unlock approximately 42.89 million tokens on June 12, accounting for 10.47% of the current circulation, valued at about 4.6 million dollars.
• US May Unadjusted CPI Year-on-Year (June 11, 20:30): Previous Value 2.30%, Forecast Value 2.5%
• U.S. May seasonally adjusted CPI MoM (June 11, 20:30): Previous value 0.20%, forecast value 0.2%

Top 500 market cap biggest gains today: Axelar (AXL) up 46.45%, Rocket Pool (RPL) up 28.30%, HarryPotterObamaSonic10Inu (BITCOIN) up 22.30%, Defi App (HOME) up 20.98%, Pocket Network (POKT) up 20.82%.

Hot News

• The US SEC requires the issuer of the spot Solana ETF application to update the S-1 document, and analysts expect approval within four months.
• The total net inflow of the Ethereum spot ETF yesterday was 125 million USD, continuing a 17-day net inflow.
• Nasdaq has submitted a listing application for the 21Shares SUI ETF to the SEC.
• Abraxas Capital has withdrawn a total of 44,612 ETH worth $123 million from centralized exchanges in the past 14 hours.
• A report from an investment institution: The rise of Bitcoin is not a speculative craze, as funds move away from the real estate and auto markets towards BTC.
• Michael Saylor: Bitcoin will no longer experience bear markets, and the price will reach $1 million per coin.
• The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate its BTC purchasing strategy.
• Bakkt announces an update to its investment policy to include BTC and other digital assets
• "20x long BTC whale" has increased its position to 405 million USD.
• Huang Licheng's HYPE long position has a floating profit of 6.5 million USD and has begun to gradually take profits.
• ZK Nation: Approximately 760 million ZK will be unlocked in June, followed by approximately 167 million ZK being unlocked each month starting in July until June 2028.
• A certain exchange will launch AXL on the KRW and USDT markets.

![HashKey Trading Moment: LABUBU's Sky-High Auction Drives the Revival of Old Meme Coins, Can BTC Hold Steady at the $105,000 Support Level? CPI Data and U.S. Treasury Auctions Become Market Focus](https://img-cdn.gateio.im/webp-social/moments-3484f6c2a24ab3e1208628f055de2129.webp(