Key Takeaways
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Macroeconomic Environment: The latest U.S. job openings data surpassed expectations, indicating continued labor market resilience. This helped ease market concerns stemming from the OECD’s downward revision of global economic growth. As a result, risk assets rallied, with all three major U.S. stock indexes closing higher. The S&P 500 rose by 0.58%, and the Nasdaq by 0.81%, while safe-haven asset gold retreated under pressure.
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Crypto Market: Bitcoin initially mirrored the U.S. stock market during U.S. trading hours, climbing to the $106,500 resistance level before entering a separate corrective phase, followed by a period of consolidation. ETH/BTC fell slightly by 0.08% but remains relatively strong. Bitcoin dominance declined for the second consecutive day (cumulative drop of 0.14%), while select altcoins showed mild rebound trends.
- Today’s Outlook: Second U.S. Congressional hearing on crypto market structure and stablecoin regulation. U.S. May ISM Non-Manufacturing Index
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,970.36 | +0.58% |
| NASDAQ | 19,398.96 | +0.81% |
| BTC | 105,365.60 | -0.45% |
| ETH | 2,592.92 | -0.54% |
Crypto Fear & Greed Index: 62 (unchanged from 64 a day ago) – Greed
Macro Economy
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U.S. April JOLTs Job Openings: 7.391 million, higher than both previous and forecasted values
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Trump: Steel and aluminum tariffs raised to 50%, effective June 4
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OECD: Downgraded global growth forecast again, citing the U.S. as one of the countries most affected by tariffs
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Fed’s Bostic: Still anticipates one rate cut this year
Industry Highlights
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U.S. Senate could vote on the GENIUS Stablecoin Act as early as June 9
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Australia imposes new rules on crypto ATMs: Cash transaction cap at AUD 5,000. Enhanced AML monitoring, mandatory scam warnings, and stricter KYC
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Poland elects Karol Nawrocki, a pro-crypto presidential candidate
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Russia’s largest bank Sber issued Bitcoin-linked bonds
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RLUSD approved as a recognized stablecoin within the Dubai International Financial Centre
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Jacobi Bitcoin ETF lowers entry barrier, opens to European retail investors for the first time
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Trump’s Truth Social submits an application for a Bitcoin ETF
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Trump Organization partners with Magic Eden to launch a branded crypto wallet and trading app. Trump Jr. clarified that the newly launched TRUMP wallet is not affiliated with the Trump Organization; WLFI will release the official wallet
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SolarBank, a North American solar developer, plans to include Bitcoin in its treasury strategy
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Pumpfun targets a $1B fundraising at $4B valuation; token expected to launch within two weeks
Project Highlights
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Trending Tokens: ME, MASK
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ME: Magic Eden partners with Trump Organization to launch a crypto wallet
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MELANIA: Meme token MELANIA reaches liquidity partnership with Wintermute
Weekly Outlook
- June 5: Fed releases Beige Book. OKX Wallet suspends Runes Market support. TAIKO token unlock: 69.37% of circulating supply, worth ~$46.9M. Germany–U.S. Leaders Summit. ECB announces latest interest rate decision
- June 6: U.S. May Non-Farm Payrolls and Unemployment Rate. SEC Crypto Working Group hosts public roundtable on "DeFi & the American Spirit"
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