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ETH is poised to challenge $2700. ZKJ's big dump triggered massive liquidations. Solana's ecosystem benefits from ETF expectations.
Market Dynamics: ETH may challenge the 2700 USD high, ZKJ big dump triggers massive liquidations, Solana ecosystem tokens benefit from ETF expectations
1. Market Observation
Macroeconomics
The Federal Reserve will soon announce its interest rate decision, and the market is highly focused on the chairman's speech to look for policy direction. Despite a slowdown in job growth, the unemployment rate has remained stable for three consecutive months, partly due to a decrease in the number of immigrants affecting labor supply. The core inflation rate in May has been below expectations for four months in a row, which has led to a decline in the yield on the two-year U.S. Treasury bonds last week. Some officials have expressed an open attitude towards interest rate cuts, believing that the impact of tariffs on prices can be seen as temporary as long as inflation expectations remain stable. Analysts predict that if officials raise inflation expectations, the number of interest rate cuts this year may decrease. Other forecasts suggest that rate cuts may begin in the fourth quarter of this year to address potential slowdowns in the labor market. The impact of tariff policies and geopolitical situations add uncertainty to the economic outlook, and the market will closely monitor the Federal Reserve's new round of economic forecasts.
industry trends
In the global wave of digital transformation, the integration of traditional industries with Web3 and AI technologies is reshaping the business landscape. This trend is not only reflected in companies seizing the intelligent advantage through the layout of decentralized AI and blockchain technology but is also evident in specific investment actions. For example, a listed company invested $500 million to acquire Fetch.ai tokens, aiming to create the world’s largest enterprise AI token reserve. The world’s first decentralized large language model launched by Fetch.ai leverages the advantages of data privacy, scalability, and community-driven innovation to provide AI support across multiple industries. However, as companies accelerate their entry into Web3 through private equity and crypto market makers, they must also remain vigilant about the price volatility of crypto assets and regulatory compliance risks, ensuring strategic sustainability while capturing innovation dividends.
Bitcoin analysis
Bitcoin maintained fluctuations over the weekend, with technical indicators showing that BTC is currently operating above the 0.236 Fibonacci retracement level and along the upward trend line since the beginning of June. The MACD histogram is leveling off, indicating that bearish momentum is weakening. If the price breaks above the 50-period moving average and stabilizes at the 0.5 Fibonacci level, it may test higher positions in the short term. Despite increased market volatility, Bitcoin's technical structure remains sound, and as long as it does not break key support, its overall upward trend remains solid. Analysts have pointed out that $105,000 is a key resistance level; if this level is lost again, Bitcoin may retreat to the $100,000 liquidity zone, providing new buying opportunities for the market. Other traders believe that Bitcoin is forming an "inverse head and shoulders pattern" and that once it breaks the neckline, the price target could exceed $140,000. Historical data shows that after a significant rise in oil prices, Bitcoin prices may experience a notable rebound in the short term.
Ethereum trend
Ethereum stabilized around $2,509 after a pullback from $2,771 to $2,443 last week, leading to significant losses for many traders. However, institutional investors continue to increase their positions, with a large asset management firm purchasing $570 million in ETH over the past two weeks, currently holding over 1.5 million coins, valued at $3.83 billion. From a technical perspective, ETH is testing the key support range of $2,500 to $2,550. If the support holds, it may rebound to the $2,700 to $2,800 range; otherwise, it may pull back to $2,300 or even $2,000. Notably, the supply of ETH on exchanges has fallen to its lowest level in eight years, and the supply shortage could drive prices up. The market generally expects ETH to break $4,000 by the end of 2025, with some institutions being more optimistic, forecasting a short-term target price of $5,400 and a long-term target price of $7,000.
Market fluctuation
Recently, ZKJ and KOGE on a certain trading platform experienced a big dump. The price of ZKJ plummeted from $1.98 to $0.253, a fall of 83.64%; KOGE also suffered a heavy setback, dropping from $62 to $8.48. Analysis indicates that this big dump was triggered by liquidity withdrawal and large-scale selling from several key addresses, leading to panic selling and liquidity depletion in the market. In addition, the upcoming unlocking of a large amount of tokens for ZKJ has further intensified the selling pressure. Data shows that the total liquidation amount across the network reached $240 million in the past 24 hours, with ZKJ contributing $102 million. Furthermore, the trading volume on the platform has declined for six consecutive days, down approximately 51% from its peak.
At the same time, the SOL ecosystem may benefit from the big dump of the above Tokens and the approaching ETF, showing strong performance. SOL has risen 7.3% in 24 hours, and ecological projects like Marinade, Jito, and Kamino have all seen varying degrees of increase. The meme coin aura briefly touched a market value of $235 million, setting a new historical high before retreating. In addition, WLFI community members anticipate that their Token will go live soon, with the current institutional OTC price at $0.1.
2. Key Data (as of June 16, 12:00)
3. ETF Fund Flow (as of June 13)
4. Today's Outlook
Top 500 market cap biggest gains today: VaderAI (VADER) up 20.63%, Jito (JTO) up 16.75%, Non-Playable Coin (NPC) up 15.61%, Ribbita (TIBBIR) up 14.52%, Chintai (CHEX) up 14.04%.
5. Hot News