PANews reported on June 5th that QCP Capital, a Singapore-based crypto investment institution, stated that despite the US ADP employment and ISM data falling short of expectations, risk assets remain stable. President Trump accused the Federal Reserve of not lowering interest rates in time and proposed permanently canceling the debt ceiling. The Treasury Secretary announced the "Big Beautiful Bill" plan, aiming to provide 100% tax deductions for manufacturing and R&D centers, with Congress set to vote on the related bill on July 4th.
JPMorgan Chase approved crypto ETFs as collateral for retail, trading, and wealth management business loans, formally recognizing the net asset value of crypto assets for the first time. Listed companies K Wave Media and Treasure Global successively announced crypto asset allocations. Circle Internet Financial has submitted an IPO application, with a valuation of $7.6-8.1 billion. On June 4th, spot BTC/ETH ETF saw net inflows of $87 million and $57 million respectively, which, although slowing down compared to May, remain structurally solid. ETH continues to test the 200-day moving average, with the ETH/BTC exchange rate maintaining around 0.025, indicating relative strength. Demand for $130,000 BTC call options expiring in September has increased, reflecting growing market expectations of breaking previous highs.
