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On June 4, Richmond Fed President Tom Barkin stated that the U.S. labor market currently appears balanced, with no observed increase in overall hiring demand. "I haven't seen any changes in the job market," Barkin told reporters after a speaking event in Loudoun County, Virginia. He noted that there are signs of rising demand in technical occupations and the healthcare sector, but overall, the job market is not tight. He mentioned that among employers, "I don't see the kind of concerns I would call bubbles or tightness."

[Richmond Fed President: No Signs of Labor Market Tightness in the U.S.]On June 4, Richmond Fed President Tom Barkin stated that the U.S. labor market currently appears balanced, with no observed increase in overall hiring demand. "I haven't seen any changes in the job market," Barkin told reporters after a speaking event in Loudoun County, Virginia. He noted that there are signs of rising demand in technical occupations and the healthcare sector, but overall, the job market is not tight. He mentioned that among employers, "I don't see the kind of concerns I would call bubbles or tightness."

Richmond Fed President: No Signs of Labor Market Tightness in the U.S.

On June 4, space stocks saw significant gains, with Momentus rising over 24%, Virgin Galactic up over 18%, Redwire increasing by over 17%, and York Space Systems gaining more than 7%. Boeing, GE Aerospace, and Rocket Lab also saw nearly 3% increases. In news, SpaceX disclosed in a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Wednesday that it plans to set the offering price at $135 per share before officially launching the IPO roadshow, aiming to raise $75 billion. At this offering price, SpaceX's valuation would reach $1.77 trillion, making it the seventh-largest publicly traded company in the U.S., surpassing Tesla's current valuation of approximately $1.6 trillion. SpaceX plans to officially list on the Nasdaq stock exchange on June 12. In its lengthy prospectus, SpaceX anchors its total addressable market (TAM) at an unprecedented $28.5 trillion.

[SpaceX's Largest IPO Approaches, Space Stocks Surge, Momentus Up Over 24%]On June 4, space stocks saw significant gains, with Momentus rising over 24%, Virgin Galactic up over 18%, Redwire increasing by over 17%, and York Space Systems gaining more than 7%. Boeing, GE Aerospace, and Rocket Lab also saw nearly 3% increases. In news, SpaceX disclosed in a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Wednesday that it plans to set the offering price at $135 per share before officially launching the IPO roadshow, aiming to raise $75 billion. At this offering price, SpaceX's valuation would reach $1.77 trillion, making it the seventh-largest publicly traded company in the U.S., surpassing Tesla's current valuation of approximately $1.6 trillion. SpaceX plans to officially list on the Nasdaq stock exchange on June 12. In its lengthy prospectus, SpaceX anchors its total addressable market (TAM) at an unprecedented $28.5 trillion.

SpaceX's Largest IPO Approaches, Space Stocks Surge, Momentus Up Over 24%

On June 4th, according to CCTV Finance, several international financial institutions have recently released positive outlooks on the Chinese economy and are accelerating their investment strategies in China. International institutions are increasing their allocations to leading Chinese technology companies. Data shows that by the end of the first quarter, Morgan Stanley had investments in 16 A-share companies with a market value exceeding 100 million yuan, focusing on AI computing power and optical communication industry chain enterprises. Goldman Sachs entered the top ten circulating shareholders of 894 A-share listed companies in the first quarter, with 20 stocks having a market value over 100 million yuan, including new investments in commercial aerospace and computing power synergy companies. Additionally, several international investment banks have recently expressed optimism about investment opportunities in areas such as artificial intelligence, advanced manufacturing, and energy transition. While increasing investments in China, several international financial institutions, including Morgan Stanley and Deutsche Bank, have also raised their GDP growth forecasts for China in 2026, believing that the trend of stabilization and recovery in the Chinese economy is becoming clearer. The strong performance of the hard technology industry is becoming an important engine supporting the stabilization of the Chinese economy.

[Foreign Investment Accelerates in China's Hard Technology Sector]On June 4th, according to CCTV Finance, several international financial institutions have recently released positive outlooks on the Chinese economy and are accelerating their investment strategies in China. International institutions are increasing their allocations to leading Chinese technology companies. Data shows that by the end of the first quarter, Morgan Stanley had investments in 16 A-share companies with a market value exceeding 100 million yuan, focusing on AI computing power and optical communication industry chain enterprises. Goldman Sachs entered the top ten circulating shareholders of 894 A-share listed companies in the first quarter, with 20 stocks having a market value over 100 million yuan, including new investments in commercial aerospace and computing power synergy companies. Additionally, several international investment banks have recently expressed optimism about investment opportunities in areas such as artificial intelligence, advanced manufacturing, and energy transition. While increasing investments in China, several international financial institutions, including Morgan Stanley and Deutsche Bank, have also raised their GDP growth forecasts for China in 2026, believing that the trend of stabilization and recovery in the Chinese economy is becoming clearer. The strong performance of the hard technology industry is becoming an important engine supporting the stabilization of the Chinese economy.

Foreign Investment Accelerates in China's Hard Technology Sector

On June 4, U.S. battery startup Solidion Technology saw its stock price surge over 500% at market open. The company announced in a press release on Thursday that it has achieved a patent breakthrough in extreme climate battery technology, focusing on popular space concepts such as low-orbit AI data centers and permanent lunar bases.

[U.S. Battery Startup Solidion Technology Soars Over 500% at Market Open]On June 4, U.S. battery startup Solidion Technology saw its stock price surge over 500% at market open. The company announced in a press release on Thursday that it has achieved a patent breakthrough in extreme climate battery technology, focusing on popular space concepts such as low-orbit AI data centers and permanent lunar bases.

U.S. Battery Startup Solidion Technology Soars Over 500% at Market Open

On June 4, the S&P 500 index turned positive. Currently, the Dow Jones Industrial Average is up 1.50%, the S&P 500 index is up 0.02%, and the Nasdaq Composite Index is down 0.6%.

[S&P 500 Index Turns Positive]On June 4, the S&P 500 index turned positive. Currently, the Dow Jones Industrial Average is up 1.50%, the S&P 500 index is up 0.02%, and the Nasdaq Composite Index is down 0.6%.

S&P 500 Index Turns Positive

On June 4, according to CCTV, the U.S. House of Representatives passed a resolution on the 3rd, demanding that President Trump end military actions against Iran and obtain congressional authorization for any future military actions. The vote resulted in 215 in favor and 208 against. Four Republican representatives joined Democrats in supporting the resolution. According to the U.S. Constitution, only Congress has the authority to declare war. Following military actions against Iran initiated by the U.S. in late February, several Democratic lawmakers criticized the actions as 'illegal' due to the lack of congressional authorization. U.S. media reported that since the resolution still requires Senate approval and the President's signature to take effect, the House vote is more symbolic. However, Reuters noted that the vote reflects some Republicans' unease with Trump's handling of the conflict, marking a rare bipartisan effort to limit the President's war powers after more than three months of ongoing hostilities. Previously, three resolutions regarding war powers had been narrowly defeated in the House.

[U.S. House Passes Resolution to Limit Trump's Military Authority Against Iran]On June 4, according to CCTV, the U.S. House of Representatives passed a resolution on the 3rd, demanding that President Trump end military actions against Iran and obtain congressional authorization for any future military actions. The vote resulted in 215 in favor and 208 against. Four Republican representatives joined Democrats in supporting the resolution. According to the U.S. Constitution, only Congress has the authority to declare war. Following military actions against Iran initiated by the U.S. in late February, several Democratic lawmakers criticized the actions as 'illegal' due to the lack of congressional authorization. U.S. media reported that since the resolution still requires Senate approval and the President's signature to take effect, the House vote is more symbolic. However, Reuters noted that the vote reflects some Republicans' unease with Trump's handling of the conflict, marking a rare bipartisan effort to limit the President's war powers after more than three months of ongoing hostilities. Previously, three resolutions regarding war powers had been narrowly defeated in the House.

U.S. House Passes Resolution to Limit Trump's Military Authority Against Iran

On June 4, CITIC Strategy's research report indicated that last week, tracked funds continued to experience net outflows, while financing funds continued to see net inflows, with the pace of ETF outflows marginally slowing. Looking ahead, it is expected that ETF outflows will slow down, with financing remaining the primary source of incremental capital. In terms of style, growth and value styles are expected to be relatively balanced, with no significant style shifts anticipated.

[CITIC Strategy: ETF Outflows Expected to Slow, Financing Remains Major Incremental Capital]On June 4, CITIC Strategy's research report indicated that last week, tracked funds continued to experience net outflows, while financing funds continued to see net inflows, with the pace of ETF outflows marginally slowing. Looking ahead, it is expected that ETF outflows will slow down, with financing remaining the primary source of incremental capital. In terms of style, growth and value styles are expected to be relatively balanced, with no significant style shifts anticipated.

CITIC Strategy: ETF Outflows Expected to Slow, Financing Remains Major Incremental Capital

As of June 4, Bitcoin's weekly decline has expanded to approximately 14%, dipping to around $62,400 on Thursday. This drop is driven by multiple factors, including the rare sale of BTC by Strategy, continuous outflows from U.S. spot Bitcoin ETFs, and a worsening macro environment. Strategy sold 32 BTC at the end of May to pay preferred stock dividends. Although the amount is relatively small, QCP Group noted that the symbolic significance of this transaction is greater, as Strategy has long been viewed by the market as a structural buyer, with its 'never sell' narrative supporting institutional investor sentiment. On the funding side, U.S. spot Bitcoin ETFs have recorded outflows for three consecutive weeks, totaling $4.21 billion, marking the largest institutional de-risking cycle since 2026. Glassnode pointed out that the ETF holding cost is around $83,000, and Bitcoin's recent rebound was rejected in this area, causing average ETF investors to return to an unrealized loss state. On-chain data also indicates that market structure is damaged. The cost basis for short-term holders has dropped to $76,400, falling below the real market average for the first time since January 2022, indicating that the market is entering a structure closer to the late stages of a bear market. However, Andre Dragosch, Head of Research at Bitwise Europe, stated that their internal crypto sentiment index has triggered a contrarian buy signal, with sentiment at its most pessimistic level since the capitulation on February 5. He believes that the key support levels for determining whether the correction is nearing its end are the 200-week moving average around $61,000 and the realized price of about $56,000. The options market remains cautious, with QCP Group indicating that the signals released by the volatility market are not 'buying the dip' but rather 'buying insurance against a downturn.' Glassnode believes that unless Bitcoin can return to the $67,000 to $68,000 range, the short-term resistance is likely to lean towards consolidation or further decline before spot demand recovers and ETF investors return to profitability.

[Analysis: Bitcoin Drops 14% This Week Due to ETF Outflows, Strategy Sell-Off, and Deteriorating Macro Environment]As of June 4, Bitcoin's weekly decline has expanded to approximately 14%, dipping to around $62,400 on Thursday. This drop is driven by multiple factors, including the rare sale of BTC by Strategy, continuous outflows from U.S. spot Bitcoin ETFs, and a worsening macro environment. Strategy sold 32 BTC at the end of May to pay preferred stock dividends. Although the amount is relatively small, QCP Group noted that the symbolic significance of this transaction is greater, as Strategy has long been viewed by the market as a structural buyer, with its 'never sell' narrative supporting institutional investor sentiment. On the funding side, U.S. spot Bitcoin ETFs have recorded outflows for three consecutive weeks, totaling $4.21 billion, marking the largest institutional de-risking cycle since 2026. Glassnode pointed out that the ETF holding cost is around $83,000, and Bitcoin's recent rebound was rejected in this area, causing average ETF investors to return to an unrealized loss state. On-chain data also indicates that market structure is damaged. The cost basis for short-term holders has dropped to $76,400, falling below the real market average for the first time since January 2022, indicating that the market is entering a structure closer to the late stages of a bear market. However, Andre Dragosch, Head of Research at Bitwise Europe, stated that their internal crypto sentiment index has triggered a contrarian buy signal, with sentiment at its most pessimistic level since the capitulation on February 5. He believes that the key support levels for determining whether the correction is nearing its end are the 200-week moving average around $61,000 and the realized price of about $56,000. The options market remains cautious, with QCP Group indicating that the signals released by the volatility market are not 'buying the dip' but rather 'buying insurance against a downturn.' Glassnode believes that unless Bitcoin can return to the $67,000 to $68,000 range, the short-term resistance is likely to lean towards consolidation or further decline before spot demand recovers and ETF investors return to profitability.

Analysis: Bitcoin Drops 14% This Week Due to ETF Outflows, Strategy Sell-Off, and Deteriorating Macro Environment

On June 4, TD Securities strategists stated in a report that if Friday's US non-farm payroll report shows an unexpected rise in the unemployment rate, the dollar may weaken. They noted that the unemployment rate in May could rise to 4.4% from 4.3% in April, while analysts' average expectation is for it to remain stable. This could lead the DXY dollar index to briefly drop below 99.00 from its current level of 99.236, after which market attention will shift to US-Iran news and the May inflation report set to be released on June 10. They indicated that a rise in the unemployment rate could open the door for new Federal Reserve Chairman Kevin Warsh to provide a dovish guidance supporting easing policies on June 17, which is a risk that has not been fully priced in.

[TD Securities: Dollar May Weaken if US Unemployment Rate Unexpectedly Rises]On June 4, TD Securities strategists stated in a report that if Friday's US non-farm payroll report shows an unexpected rise in the unemployment rate, the dollar may weaken. They noted that the unemployment rate in May could rise to 4.4% from 4.3% in April, while analysts' average expectation is for it to remain stable. This could lead the DXY dollar index to briefly drop below 99.00 from its current level of 99.236, after which market attention will shift to US-Iran news and the May inflation report set to be released on June 10. They indicated that a rise in the unemployment rate could open the door for new Federal Reserve Chairman Kevin Warsh to provide a dovish guidance supporting easing policies on June 17, which is a risk that has not been fully priced in.

TD Securities: Dollar May Weaken if US Unemployment Rate Unexpectedly Rises

Market data shows that BTC has fallen below $66,000, currently priced at $65,995.91, with a 24-hour decline of 1.89%. The market is experiencing significant volatility, so please ensure proper risk management.

[BTC Falls Below $66,000]Market data shows that BTC has fallen below $66,000, currently priced at $65,995.91, with a 24-hour decline of 1.89%. The market is experiencing significant volatility, so please ensure proper risk management.

BTC Falls Below $66,000

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Bulls Approach the Ceiling

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bill currently trades at 0.084864 USDT, up 10.48% in 24h, according to HTX market data.

BTC Falls Below $66,000

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