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According to Jinshi reports, Huatai Securities' research report states that in May 2026, the United States added 172,000 non-farm jobs, higher than Bloomberg's consensus expectation of 85,000, with the cumulative revision for the previous two months being 93,000. The unemployment rate and labor participation rate in May remained at 4.3% and 61.8%, respectively, both in line with expectations; hourly wage growth month-on-month increased by 0.1 percentage points to 0.3%, while year-on-year decreased by 0.2 percentage points to 3.4%, also in line with expectations. The market's pricing for the Federal Reserve's interest rate hikes this year has significantly intensified. Huatai Securities maintains the view that the Federal Reserve will keep interest rates unchanged in the second half of the year, with possible rate hikes next year.

According to on-chain analyst Yu Jin's monitoring, in the last 5 days, BTC has dropped by 16%, ETH has dropped by 21%, but "Binance Life" has risen by 62% against the trend. On-chain data shows that the recent rise of "Binance Life" may be related to approximately 28 million USD in funds being purchased.In the past 5 days, two addresses withdrew 14 million USDT from Bybit, and then bought 21.1 million "Binance Life" on-chain, with an average price of about 0.66 USD. Additionally, in the past 2 days, a certain address withdrew 21.5 million "Binance Life" from Binance, worth about 14 million USD.

According to Gate market data, the Dow Jones Industrial Average closed down 695.15 points on June 5 (Friday), a decrease of 1.35%, closing at 50,866.78 points; the S&P 500 closed down 200.63 points, a decrease of 2.65%, closing at 7,383.68 points; the Nasdaq Composite closed down 1,121.53 points, a decrease of 4.18%, closing at 25,709.43 points.

According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) announced on June 4 the abolition of the "no denial" policy that had been in place for nearly 30 years. This policy, in effect since 1998, required defendants to commit to not publicly denying the CFTC's allegations when settling.CFTC Chairman Mike Selig stated that this move aligns with the overall direction of various government regulatory agencies and grants the commission greater flexibility in enforcement settlements. Previously, the SEC had taken the lead in abolishing a similar policy in May.

According to DeFiLlama data, after the launch of US stock trading on June 1, Binance saw a significant acceleration in capital inflow, with a net inflow of approximately $771 million in the past 24 hours. In contrast, May was primarily characterized by net outflows, with a net outflow of about $1.2 billion in stablecoins, and last week (May 25-31) also experienced outflows. The introduction of US stock trading is effectively attracting user funds.On the afternoon of June 1, Binance officially launched US stock and ETF trading services, offering non-US users access to over 7,000 US stocks and ETFs, supporting zero commissions, starting purchases at $5, and allowing direct trading with USDT, USDC, and others.

According to Jinshi reports, the US dollar index, which measures the dollar against six major currencies, rose 0.02% on the 2nd, closing at 99.219 in the foreign exchange market. As of the close of the New York foreign exchange market, 1 euro exchanged for 1.1628 US dollars, down from 1.1631 US dollars the previous trading day; 1 pound exchanged for 1.3469 US dollars, up from 1.3458 US dollars the previous trading day; 1 US dollar exchanged for 159.91 Japanese yen, up from 159.76 Japanese yen the previous trading day; 1 US dollar exchanged for 0.7873 Swiss francs, up from 0.7864 Swiss francs the previous trading day; 1 US dollar exchanged for 1.3832 Canadian dollars, down from 1.3842 Canadian dollars the previous trading day; 1 US dollar exchanged for 9.3155 Swedish kronor, up from 9.3059 Swedish kronor the previous trading day.

Tiger Brokers announced that on May 22, the Beijing Regulatory Bureau of the China Securities Regulatory Commission imposed administrative penalties on some of the company's subsidiaries and ordered the confiscation of illegal gains, totaling approximately 411 million RMB (about 59.7 million USD).The related penalties stem from some subsidiaries conducting unlicensed cross-border securities business within China, as well as illegal activities involving funds and futures business. The company sincerely accepts the penalties and has confirmed them as a significant matter following the first quarter. Considering the company's overall profitability and cash flow situation, this one-time expenditure will not have a significant adverse impact on the company's operational activities or long-term development.

SpaceX disclosed in its latest S-1 filing that it holds approximately 18,712 bitcoins, with a current market value of about $1.4 billion, significantly higher than previous market expectations, with a cost of about $661 million. This bitcoin holding has become an important component of SpaceX's balance sheet, accounting for about 1.8% of total assets, making it one of the major corporate bitcoin holders, second only to a few institutions.The more critical issue lies in the financial volatility risk brought about by accounting treatment. Analysts say that measuring bitcoin at fair value will cause its price fluctuations to be directly reflected in the financial reports each quarter, potentially leading to significant profit volatility unrelated to core business (rocket launches, satellite business), creating significant "accounting noise." Market participants believe that this mechanism may make it more difficult for investors to assess SpaceX's true operational performance, with the bitcoin holding potentially evolving from a "strategic reserve asset" to a key variable affecting the stability of financial reports.

According to a report by Politico, a document submitted by the European Commission to member states and the European Parliament shows that the EU is assessing the possibility of incorporating the cryptocurrency industry into a unified tax system to find new sources of fiscal revenue for the 2028-2034 budget cycle.The document estimates that if a tax rate of 0.1% is applied to cryptocurrency transaction volumes, it could bring in about 3 billion to 4 billion euros in revenue for the EU each year; if capital gains from cryptocurrencies are taxed, it is expected to increase fiscal revenue by about 1 billion to 2.4 billion euros annually.However, the European Commission also pointed out that due to the still inadequate data related to the cryptocurrency industry, there is significant uncertainty in the current revenue forecasts, and the actual results may differ from the estimates.The relevant proposal is still in the evaluation stage, and to be formally implemented, it requires unanimous approval from all 27 EU member states. If progress goes smoothly, this will become one of the most important discussions on unified tax policy for the cryptocurrency industry in the EU.

Jason Smith, the chairman of the U.S. House of Representatives' fundraising committee, stated that digital asset tax legislation must receive bipartisan support; otherwise, the related bill process will not advance. Subsequently, U.S. Representatives Steven Horsford, Max Miller, Suzan DelBene, and Mike Carey jointly proposed the "Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Revenue Act" (PARITY Act). The bill aims to update digital asset tax rules, provide a clearer regulatory framework for the market, while enhancing investor protection and preventing market manipulation.Representative Steven Horsford stated that the bill will help ordinary investors participate more safely in the digital asset market and promote wealth accumulation opportunities. Max Miller believes that the current U.S. tax laws are unable to adapt to the rapid development of digital assets and modern financial technology. Currently, the PARITY Act and the advancing CLARITY Act are seen as important components of establishing a comprehensive regulatory system for crypto assets in the United States.The U.S. Congress released a tax policy discussion draft in March this year and held a bipartisan roundtable in May to discuss the tax framework for crypto assets. The market is closely watching whether the CLARITY Act can be passed by 2026. Analysts believe that if both the CLARITY Act and the PARITY Act are ultimately legislated and combined with the subsequent rule-making of the GENIUS Act, the U.S. crypto industry will welcome a clearer regulatory environment, further promoting Web3 and DeFi into the mainstream financial system.

Aave Labs has released an ARFC proposal, suggesting the establishment of a standardized technical asset listing framework for Aave V3, V4, and Aave Horizon, setting unified technical requirements for asset listing, parameter expansion, and ongoing monitoring. The framework covers core areas such as ERC20 compatibility, oracles, permission control, minting and burning logic, pause and blacklist mechanisms, upgradability, exchange rates and yield mechanisms, token architecture, cross-chain bridge risks, audit and security history, and external dependencies. This framework does not replace market risk analysis and governance judgment but provides a technical qualification baseline.The framework aims to address "hidden risks" such as unlimited issuance, weak upgrade permissions, inconsistent bridging supply, opaque redemption paths, and reliance on off-chain custody. These issues may directly threaten the protocol's solvency, liquidation systems, and collateral parameter security. The framework particularly emphasizes additional scrutiny for cross-chain assets, yield-bearing assets, and off-chain dependent assets such as RWAs, including bridge structures, off-chain legal arrangements, custody mechanisms, and supply integrity. Assets with significant technical flaws may face reduced borrowing limits, restricted collateral parameters, delayed launches, or even recommendations to deny access to the protocol in the future.

The Hyperliquid ecosystem project Ventuals posted on X: "We have noticed that about an hour ago, there was an incident in our SPACEX market. One of the off-chain data providers, which is a component of the oracle price, returned erroneous data, causing severe fluctuations in the oracle price and mark price of that market, which in turn triggered the liquidation of some users' positions.We have taken immediate measures to prevent similar situations from occurring in any Pre-IPO market and are assessing the impact of this incident on affected users to formulate an appropriate compensation plan. Affected users will receive compensation within the next 48 hours.According to previous news from ChainCatcher, the SPACEX-USDH perpetual contract on Hyperliquid experienced a 45% flash crash last night."

According to Jinshi reports, Federal Reserve's Musalem stated that the current inflation level is significantly above the target, and market expectations are rising.

According to Jinshi reports, Federal Reserve's Williams stated that the Middle East war is driving up inflation, and the impact of soaring energy prices should be short-term.

According to CoinDesk, the latest research from Project Agorá, led by the Bank for International Settlements (BIS), shows that tokenization technology is expected to significantly improve settlement speed and reconciliation efficiency in cross-border payments, while reducing transaction failures and operational risks.The project involves BIS collaborating with seven central banks and over 40 financial institutions, including the New York Fed, Bank of England, Bank of Japan, and Swiss National Bank. The research suggests that tokenizing central bank reserves and commercial bank deposits can support "atomic settlement" across currencies and jurisdictions, allowing transactions to "either complete simultaneously or fail simultaneously," thereby reducing the credit and execution risks commonly associated with cross-border payments.Currently, Project Agorá has completed the simulation testing phase and plans to enter the "real-value" trading testing phase to explore on-chain settlement applications for certain currencies and institutions in a real funds environment.

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Analyst Murphy stated that by observing the "short-term capital on-chain activity weight" (i.e., the proportion of the dollar value represented by short-term chip turnover) as an on-chain indicator, we can assess the current BTC market status. This indicator reflects the latest short-term trading behaviors such as speculation, arbitrage, profit-taking, or panic selling. Currently, this weight has dropped to historically low levels, appearing only in the bottom regions of bear markets over the past 15 years, indicating a significant cooling of short-term turnover, with economic value shifting towards long-term chip accumulation. The market is characterized by low volatility, consolidation, or clear bottom features.The analyst judges that based on this, the current market may be in one of three stages: bear market bottom; secondary bottom, which may still have one last drop; or consolidation before the bull market starts. However, under rational judgment, the pre-bull consolidation can be temporarily ruled out. It is currently not recommended to fully bet on a single scenario; a diversified position strategy is advised to cope with different outcomes, as the relative position of the long-term trend has indicated that Bitcoin is near the bottom.

BIT released today's chart stating that the key to market analysis often lies in identifying the core factors driving asset price movements and observing when these factors begin to change.In the case of Bitcoin, the recent sustained rise has largely depended on the interplay between institutional demand and the market's available supply. Over the past year, spot Bitcoin ETFs and Strategy (formerly MicroStrategy) have been significant sources of this demand. When ETF inflows accelerate and Strategy continues to accumulate Bitcoin, the price of Bitcoin typically continues to rise.Currently, the total net buying amount of ETFs and Strategy has dropped to only $870 million, primarily due to significant outflows from ETFs, shifting from net buying to net selling. Before ETF inflows stabilize and rebound, Bitcoin may continue to primarily experience consolidation in the short term.

10x Research published an analysis on platform X, pointing out that as Bitcoin volatility continues to decline, the NAV premiums of most Bitcoin treasury companies have significantly compressed, with some even turning into substantial discounts, and related investor losses have begun to manifest.Historically, Grayscale's GBTC once experienced a 47% discount in December 2022, at which time investors could almost buy Bitcoin through this product at an implied price of less than $10,000. The market mistakenly viewed traditional financial crypto asset packaged products as "Bitcoin leverage tools," but these structures are actually more similar to options products: when volatility rises, implied value expands, while when volatility decreases, valuations are compressed.

According to analyst Darkfost (@Darkfost_Coc) in a social media post, since May 16, the weekly average inflow of BTC on Binance has increased from 378 coins to 1,190 coins, growing more than three times in 10 days. On May 18, the daily inflow exceeded 3,600 coins, reaching a high level. Additionally, BTC reserves on Binance have rebounded from a low of 616,000 coins on April 24 to 632,000 coins, an increase of 16,000 coins in one month.When mainstream exchanges like Binance continue to see net inflows, it is often interpreted as a potential selling signal, as users transfer BTC to trading platforms mainly for selling, reducing positions, or defensive rebalancing. During this period, the price of Bitcoin fell by as much as 6.2%. The current market is still in a correction period influenced by tense geopolitical factors, with risk assets generally under pressure.