BTC fell below $101,000 and has now rebounded to $103,876, ETH fell below $2,400 and has now rebounded to $2,479. The market fear index has dropped to 45 (previously 57), capital inflow has slowed down, and institutional enthusiasm to increase the position has cooled.

$980 million in global liquidations in the last 24 hours, with BTC and ETH accounting for $341 million and $285 million respectively. Altcoins are also falling, with the L2 sector down 5.89%. Traders are betting on bullish ETH options, expecting it to break $3,400 by the end of June, but technical indicators show a "death cross" on the daily chart, indicating short-term risks remain.

TRUMP coin fell by 12% due to the Trump family's lawsuit, and the public confrontation between Musk and Trump intensified market sentiment fluctuations.

DOGE fell by 10% in a single day, while Tesla plummeted by 14.26%, dragging down associated assets.

Tesla's market value evaporated by 1.09 trillion yuan (approximately 152.5 billion USD), the Nasdaq fell by 0.83%, and Trump's Media Group (DJT) fell by 8.04%.

Circle (the issuer of the stablecoin USDC) surged 168% on its first day of listing, with a market capitalization reaching $6.9 billion, demonstrating traditional capital's recognition of compliant crypto assets.

Hedge fund mogul Ackman calls for Trump to reconcile with Musk, but the market believes his remarks may pave the way for shorting tech stocks.

The Hong Kong "Stablecoin Regulation" will take effect on August 1, requiring issuers to meet capital reserve requirements, which may impact the market shares of USDT and USDC.

The U.S. "Clarity Act" has entered the review stage, and if passed, it will provide a long-term compliance framework for the crypto market.

In May, the private sector added 37,000 jobs, far below the expected 115,000, while imports plummeted by 20%, showing the adverse effects of tariffs.

The probability of the Federal Reserve maintaining interest rates in June is 97.5%, and if the non-farm data is below expectations, it may strengthen the expectations for a rate cut.

The phone call between the Chinese and American leaders emphasized "making good use of the economic and trade consultation mechanism," and the market is paying attention to the progress of tariff negotiations.

The Monetary Authority of Singapore (MAS) announced that the "Guidelines for Licensing Digital Token Service Providers" will take effect on June 30, requiring all DTSPs operating domestically to be licensed, or face a maximum fine of 250,000 SGD and up to 3 years of imprisonment.

South Korean President Lee Jae-myung is promoting the legalization of Bitcoin spot ETFs, allowing pension funds to allocate crypto assets, which may attract traditional financial institutions to enter the market.

China has built the world's first 300-kilometer Quantum-Secure Direct Communication (QSDC) network, which uses quantum entanglement to achieve hack-proof data transmission, and may reshape the security architecture of crypto assets in the future.

Summary
Market sentiment: Affected by the public conflict between Trump and Musk, weak economic data, and regulatory uncertainty, cryptocurrencies have fallen in sync with US stocks, with panic sentiment dominating short-term trading. The impending implementation of Hong Kong's "Stablecoin Regulation" and Circle's plan to go public indicate that the stablecoin market is developing towards compliance and transparency, which will help enhance market trust and stability, while also providing investors with more reliable asset options.
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