Crypto Market Trends: Meme Coins Revive, Bitcoin Holds Above, CPI Data in Focus

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 10-year Treasury auction will be announced, which the market is highly focused on. Economists expect a 0.2% month-on-month increase in the CPI, but investors are concerned that tariffs may push inflation levels higher. At the same time, demand for Treasury auctions has also become a focus, especially against the backdrop 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, leading to a sharp rise in yields. Analysts point out that inflation data may directly affect auction demand, and investors are closely monitoring it to assess changes in market sentiment.

As major global economies accelerate the improvement of regulatory frameworks for encryption assets, the market is undergoing a profound reconstruction of value systems. Some analysts believe that the U.S. "GENIUS Act" requires stablecoin reserve assets to be 100% pegged to the U.S. dollar or U.S. Treasury bonds and undergo regular audits, driving the market capitalization of mainstream stablecoins to exceed $280 billion; the EU's MiCA legislation promotes industry centralization; and Hong Kong has formed unique advantages through a "dual-track" regulatory model. Recently, an IPO by a certain payment company has attracted widespread attention from the market, with its valuation once climbing to $24 billion, reflecting investors' strong confidence in compliant encryption financial infrastructure.

Bitcoin recently successfully broke 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 through the short-term downward trend, forming a bullish breakout pattern. Even though this week's CPI data may bring some upward pressure, as long as the Bitcoin price remains above $105,075, the bullish trend remains valid. Meanwhile, Ethereum is gradually becoming the focus of the market, with its implied volatility rising, and short-term option volatility exceeding 70%. The bullish sentiment in the options market has significantly strengthened.

Recently, the Labubu market sentiment has been continuously high, with the mint green first-generation LABUBU collectible selling for an astonishing 1.08 million RMB. The market cap of the meme $Labubu skyrocketed from 19.51 million USD yesterday to 44 million USD today. The overall on-chain market has warmed up, with the old MEME coin $AURA surging from a market cap of 1 million USD to 50 million USD last night. A certain ecosystem's Useless reached a new high, with a price increase of 10 times within a week, and the 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 (Year-to-date -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 performance: DeFi up 4.92%; L2 up 3.36%
• 24-hour liquidation data: A total of 106,468 people worldwide have been liquidated, with a total liquidation amount of $320 million, including $58.91 million in BTC, $127 million in ETH, and $14.5487 million in SOL.

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 exclusively launches TGE Phase 22 with MEET48 (IDOL)
• A certain 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 is 4.00% of the current circulation, worth about 3.8 million dollars.
• io.net (IO) will unlock approximately 3.22 million tokens today, accounting for 1.98% of the current circulating supply, valued at about 2.5 million dollars.
• 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 around 4.6 million dollars.
• US May Unadjusted CPI Year-on-Year (June 11, 20:30): Previous Value 2.30%, Forecast Value 2.5%
• US May seasonally adjusted CPI monthly rate (June 11, 20:30): Previous value 0.20%, Forecast value 0.2%

Top 500 market cap 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 SEC requires the spot Solana ETF applicants to update the S-1 filing, and analysts expect approval within four months.
• The total net inflow of Ethereum spot ETF yesterday was 125 million USD, with a continuous net inflow for 17 days.
• A certain stock exchange 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 last 14 hours.
• A report from an institution: The rise of Bitcoin is not a speculative frenzy; funds are avoiding the real estate and automotive markets and turning to BTC.
• Michael Saylor: Bitcoin will no longer see bear markets, and the price will reach $1 million per coin.
• The Blockchain Group has been approved to launch a financing plan of 11 billion euros to accelerate its Bitcoin purchasing strategy.
• A certain platform announced an update to its investment policy to include Bitcoin and other digital assets.
• "20x long BTC whale" has expanded its position to $405 million.
• 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, and from July onward, approximately 167 million ZK will be unlocked each month until June 2028.
• A certain exchange will list AXL on the KRW and USDT markets.