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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

On June 4, the United Nations University Institute for Water, Environment and Health (UNU-INWEH) officially released a special report titled "The Environmental Costs of Artificial Intelligence: Carbon, Water, and Land Footprints" on the occasion of its 30th anniversary. The report clearly warns that the rapid expansion of artificial intelligence (AI) technology has transformed it into a high-energy, resource-dependent material entity system. It is predicted that AI may soon consume 3% of global electricity, and its water consumption will exceed the total demand for human drinking water. This explosive growth is accelerating the escalation of global risks related to energy, water resources, and land use, posing significant challenges to global environmental governance and equity.

[UN Warns: AI May Soon Consume 3% of Global Electricity and Exceed Human Drinking Water Demand]On June 4, the United Nations University Institute for Water, Environment and Health (UNU-INWEH) officially released a special report titled "The Environmental Costs of Artificial Intelligence: Carbon, Water, and Land Footprints" on the occasion of its 30th anniversary. The report clearly warns that the rapid expansion of artificial intelligence (AI) technology has transformed it into a high-energy, resource-dependent material entity system. It is predicted that AI may soon consume 3% of global electricity, and its water consumption will exceed the total demand for human drinking water. This explosive growth is accelerating the escalation of global risks related to energy, water resources, and land use, posing significant challenges to global environmental governance and equity.

UN Warns: AI May Soon Consume 3% of Global Electricity and Exceed Human Drinking Water Demand

On June 4, Meta Platforms (META.US) rose 2.5% to $638.70. In the news, Meta launched the Meta Business Agent, an artificial intelligence (AI) tool designed for merchants to assist businesses in handling customer inquiries, appointments, and sales on WhatsApp, Messenger, and Instagram. The Business Agent can respond to customers in the merchant's tone, handle common questions, filter potential leads, and escalate more complex inquiries to human staff when necessary. The Business Agent will be available for free initially, with plans to introduce a paid subscription option in the coming months. Additionally, Meta is considering setting a maximum monthly price of $200 for its new OpenClaw AI tool aimed at general consumers. The Hatch feature offers extensive capabilities: it can write custom software on demand, create schedules in users' calendars, and send emails on their behalf.

[Meta Rises 2.5% with Launch of Paid AI Agent for Merchants]On June 4, Meta Platforms (META.US) rose 2.5% to $638.70. In the news, Meta launched the Meta Business Agent, an artificial intelligence (AI) tool designed for merchants to assist businesses in handling customer inquiries, appointments, and sales on WhatsApp, Messenger, and Instagram. The Business Agent can respond to customers in the merchant's tone, handle common questions, filter potential leads, and escalate more complex inquiries to human staff when necessary. The Business Agent will be available for free initially, with plans to introduce a paid subscription option in the coming months. Additionally, Meta is considering setting a maximum monthly price of $200 for its new OpenClaw AI tool aimed at general consumers. The Hatch feature offers extensive capabilities: it can write custom software on demand, create schedules in users' calendars, and send emails on their behalf.

Meta Rises 2.5% with Launch of Paid AI Agent for Merchants

On June 4, Jupiter announced the launch of Jupiter Forecast, which it describes as Solana's first fully native prediction market aimed at market makers. Jupiter stated that for users, Forecast will be integrated into Jup Predict and will provide an additional liquidity model for better pricing and execution. Users will no longer trade with a single liquidity pool but can buy from multiple competing market makers, with any Prop AMM able to quote markets of interest. Users will automatically transact with the market maker offering the best price. Jupiter emphasized that it will continue to work closely with Polymarket and support its market, with Forecast simply providing an additional type of market liquidity for users. Furthermore, each market within Forecast will have its own native token to enhance partner integration convenience and improve composability within the Solana ecosystem. Jupiter indicated that Forecast will initially launch with a 15-minute crypto market and will continue to expand from there.

[Jupiter Launches Solana's First Native Prediction Market to Enhance Liquidity]On June 4, Jupiter announced the launch of Jupiter Forecast, which it describes as Solana's first fully native prediction market aimed at market makers. Jupiter stated that for users, Forecast will be integrated into Jup Predict and will provide an additional liquidity model for better pricing and execution. Users will no longer trade with a single liquidity pool but can buy from multiple competing market makers, with any Prop AMM able to quote markets of interest. Users will automatically transact with the market maker offering the best price. Jupiter emphasized that it will continue to work closely with Polymarket and support its market, with Forecast simply providing an additional type of market liquidity for users. Furthermore, each market within Forecast will have its own native token to enhance partner integration convenience and improve composability within the Solana ecosystem. Jupiter indicated that Forecast will initially launch with a 15-minute crypto market and will continue to expand from there.

Jupiter Launches Solana's First Native Prediction Market to Enhance Liquidity

On June 4, the Dow Jones Index increased by 1.53%, reaching 51,460.06 points, setting a new record high. Among the constituent stocks, only four declined, while UnitedHealth rose nearly 6%, Merck increased over 4%, American Express gained 3.6%, and Visa rose 3.2%.

[Dow Jones Index Rises 1.53%, Sets New Record High]On June 4, the Dow Jones Index increased by 1.53%, reaching 51,460.06 points, setting a new record high. Among the constituent stocks, only four declined, while UnitedHealth rose nearly 6%, Merck increased over 4%, American Express gained 3.6%, and Visa rose 3.2%.

Dow Jones Index Rises 1.53%, Sets New Record High

On June 4, SpaceX launched an IPO promotion for retail investors through a video early Thursday morning. In this 17-minute video, Chief Financial Officer Bret Johnsen connected the company's rocket, satellite, and artificial intelligence businesses. This presentation is part of the company's efforts, led by Elon Musk, to attract ordinary investors globally. Media reports have indicated that these buyers are a key component of SpaceX's IPO strategy, with up to 30% of the $75 billion issuance allocated to such investors. Johnsen was the only person featured in the video, where he introduced himself as the company's first and only CFO. The video is available on the company's website, spacexipo.com, which prominently encourages visitors to open brokerage accounts. Johnsen stated, 'Elon founded SpaceX with the goal of changing humanity and making us a multi-planetary species. It is incredibly exciting that we have already been able to expand this vision through the Starlink constellation and our AI solutions.' The roadshow outlined several future goals but did not specify timelines for achieving them, including increasing gross margins from last year's 49% to around 70% and achieving a net profit margin of approximately 45%, compared to last year's negative 26%. The company also outlined grand ambitions in the video, including sending data centers into space. The video further detailed its operations, including reusable rockets and the Starlink satellite system providing broadband internet access to Earth.

[SpaceX Promotes IPO to Retail Investors with 17-Minute Video, Outlining Future Vision and Ambitious Goals]On June 4, SpaceX launched an IPO promotion for retail investors through a video early Thursday morning. In this 17-minute video, Chief Financial Officer Bret Johnsen connected the company's rocket, satellite, and artificial intelligence businesses. This presentation is part of the company's efforts, led by Elon Musk, to attract ordinary investors globally. Media reports have indicated that these buyers are a key component of SpaceX's IPO strategy, with up to 30% of the $75 billion issuance allocated to such investors. Johnsen was the only person featured in the video, where he introduced himself as the company's first and only CFO. The video is available on the company's website, spacexipo.com, which prominently encourages visitors to open brokerage accounts. Johnsen stated, 'Elon founded SpaceX with the goal of changing humanity and making us a multi-planetary species. It is incredibly exciting that we have already been able to expand this vision through the Starlink constellation and our AI solutions.' The roadshow outlined several future goals but did not specify timelines for achieving them, including increasing gross margins from last year's 49% to around 70% and achieving a net profit margin of approximately 45%, compared to last year's negative 26%. The company also outlined grand ambitions in the video, including sending data centers into space. The video further detailed its operations, including reusable rockets and the Starlink satellite system providing broadband internet access to Earth.

SpaceX Promotes IPO to Retail Investors with 17-Minute Video, Outlining Future Vision and Ambitious Goals

On June 4, the Iranian Revolutionary Guard Corps stated that a ceasefire on all fronts, including Lebanon, is a preliminary condition for Iran to end its war with the United States. (Jinshi)

[IRGC: Ceasefire on All Fronts Including Lebanon is a Preliminary Condition for Iran to End War with the U.S.]On June 4, the Iranian Revolutionary Guard Corps stated that a ceasefire on all fronts, including Lebanon, is a preliminary condition for Iran to end its war with the United States. (Jinshi)

IRGC: Ceasefire on All Fronts Including Lebanon is a Preliminary Condition for Iran to End War with the U.S.

On June 4, according to HTX market information, Bitcoin has fallen below $66,000, with a 24-hour decline of 1.92%.

[Bitcoin Falls Below $66,000, 24-Hour Decline of 1.92%]On June 4, according to HTX market information, Bitcoin has fallen below $66,000, with a 24-hour decline of 1.92%.

Bitcoin Falls Below $66,000, 24-Hour Decline of 1.92%

VVV Surges Over 10x This Year, Is the Base Ecosystem the Last Hope for Crypto AI?

Bitcoin Correction Pushes 580,000 BTC Into Loss Territory

One Article Deconstructs the Investment Methodology of 'Stock God Serenity'

Deconstructing the Investment Methodology of the 'Stock God Serenity' in One Article

Sharplink CEO: Ethereum's Future Is Playing Out Now

Kalshi and Coinbase Receive CFTC Approval, Ushering in the Most Regulation-Friendly Era for the Crypto Industry?

Weekly Token Unlocks: HYPE Unlocks $650M Worth of Tokens

A $300 Used Mining Rig Mined a $230,000 Bitcoin Block

Over $1 Billion in Cryptocurrencies Forced to Liquidate, Bitcoin Plunges 6% Below $67,000

Bulls Approach the Ceiling

Article

BTC Falls Below $66,000

Bitcoin Falls Below $66,000, 24-Hour Decline of 1.92%

Застереження：Наведені вище матеріали не представляють позицію компанії HTX.，HTX не дає жодних торгових рекомендацій.。

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