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According to Coinglass data, the total contract open interest for ETH has decreased by 5.33% in the past 24 hours, with the current total open interest at $23.854 billion. Among them, Binance's open interest is $5.405 billion, OKX's open interest is $1.494 billion, Bybit's open interest is $1.568 billion, and Gate's open interest is $2.847 billion.

According to a report by Fortune, David Trainer, CEO of research firm New Constructs, analyzed that to support a valuation of approximately $1.75 trillion, SpaceX needs to increase its annual revenue to about $1.1 trillion by 2035, which is nearly a 60-fold increase from $18.7 billion in 2025, equivalent to maintaining an average annual revenue growth rate of about 50% over the next decade.According to the prospectus previously submitted by SpaceX, the company's revenue in 2025 is projected to be $18.7 billion, with a net loss of $4.9 billion. Trainer calculated based on a discounted cash flow model that if investors want to achieve an annualized return of about 10% over the next decade, SpaceX must achieve the aforementioned growth targets.Analysis indicates that if it reaches a revenue scale of $1.1 trillion, SpaceX's revenue would account for about 2.4% of the U.S. GDP in 2035, with an economic scale exceeding the entire U.S. utility industry and approaching three-quarters of the U.S. transportation industry.Trainer stated that although the artificial intelligence market has vast potential, many competitors, including Alphabet, Microsoft, NVIDIA, and OpenAI, are competing for market share, and SpaceX lacks historical precedent to achieve such a scale of growth. He believes that SpaceX could not only become the largest IPO in history but also the most expensive in terms of valuation.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.44% in the past 24 hours, with the current total open interest at 44.559 billion USD. Among them, the open interest for Binance is 8.264 billion USD, for OKX is 2.617 billion USD, for Bybit is 4.057 billion USD, and for Gate is 3.188 billion USD.

According to Coinglass data, the total contract open interest for ETH has decreased by 9.08% in the past 24 hours, with the current total open interest at $23.55 billion. Among them, the open interest on Binance is $5.401 billion, on OKX is $1.436 billion, on Bybit is $1.541 billion, and on Gate is $2.791 billion.

Regarding BTC briefly dropping below $60,000, Coinbase CEO Brian Armstrong stated on the X platform, "Many people still believe or feel that a drop in Bitcoin means a drop in cryptocurrency. However, derivatives, perpetual contracts, stablecoins, prediction markets, and more are all on the rise.Cryptocurrency involves various fields of finance, and now it covers a broader scope than Bitcoin. It will take some time for people to truly understand this. Of course, Bitcoin will perform excellently in the future and will remain as important as ever; this is just one of the many cycles we are experiencing."

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 Coinglass data, the total contract open interest for ETH has decreased by 11.92% in the past 24 hours, with the current total open interest at $23.444 billion. Among them, Binance's open interest is $5.324 billion, OKX's open interest is $1.458 billion, Bybit's open interest is $1.585 billion, and Gate's open interest is $2.797 billion.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.37% in the past 24 hours, with the current total open interest at 45.539 billion USD. Among them, the open interest for Binance is 8.447 billion USD, for OKX is 2.657 billion USD, for Bybit is 4.171 billion USD, and for Gate is 3.323 billion USD.

According to Gate market data, the US stock market continues to decline, with the Nasdaq Composite Index down 3%; Tesla (TSLA.O) fell more than 5% during the day.

According to Gate market data, the Nasdaq 100 index has widened its decline to 2.5%.

After the US stock market opened, the cryptocurrency market accelerated its decline, with Bitcoin falling below $61,000 and Ethereum briefly dropping below $1,600. According to Coinglass data, nearly $160 million was liquidated across the network in the last hour, with long positions accounting for $156 million, and nearly $1.238 billion liquidated across the network in the last 24 hours. A total of 260,647 people were liquidated globally, with the largest single liquidation occurring on Binance - BTCUSDT, valued at $13.3164 million.

According to Jinshi reports, BNP Paribas expects the Federal Reserve to raise interest rates three times starting in December.

According to Gate market data, the three major U.S. stock indices continued to decline, with the S&P 500 index's drop expanding to 1%, the Nasdaq down 1.6%, and the Dow down 0.3%.

According to Gate market data, the euro against the US dollar (EUR/USD) has fallen below 1.16, with a daily decline of 0.08%.

According to Coinglass data, the total contract open interest for ETH has decreased by 6.86% in the past 24 hours, with the current total open interest at $24.862 billion. Among them, the open interest on Binance is $5.504 billion, on OKX is $1.577 billion, on Bybit is $1.689 billion, and on Gate is $3.295 billion.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.27% in the past 24 hours, with the current total open interest at 45.913 billion USD. Among them, Binance's open interest is 8.323 billion USD, OKX's open interest is 2.836 billion USD, Bybit's open interest is 4.156 billion USD, and Gate's open interest is 3.608 billion USD.

According to Jinshi reports, U.S. interest rate futures data shows that the probability of the Federal Reserve raising interest rates in December has increased from 48% to 63%.

According to Gate market data, after the release of non-farm data, S&P 500 and Nasdaq 100 futures extended their decline.

The decentralized AI infrastructure network DGrid AI announced an official partnership with MiniMax. Both parties will provide low-cost, high-availability access to MiniMax models for global developers and agents through the DGrid decentralized AI Gateway, jointly promoting its adoption in a broader ecosystem.DGrid is a decentralized AI infrastructure that aggregates mainstream AI models from around the world. It currently connects over 200 models, including Claude, GPT, and Gemini, enabling one-stop access through a unified API. The platform is aimed at developers and AI agent builders, offering high-availability, low-latency model access services, and is committed to lowering the entry barriers and usage costs for AI applications.MiniMax is a global leader in general artificial intelligence across all modalities and is one of the few AI companies capable of self-developing models for text, voice, video, music, and other modalities. This official collaboration with MiniMax represents another significant expansion for DGrid on the model supply side, marking a new step in connecting mainstream model vendors and building a decentralized AI ecosystem. With the integration of more high-quality models, DGrid is becoming a unified entry point for AI developers to access diverse model capabilities, providing more flexible and open infrastructure support for the next generation of intelligent applications.As part of the initial collaboration, MiniMax's flagship model M3 has been launched on DGrid, and DGrid Premium users can enjoy a 55% discount directly.

According to CoinDesk, Deribit Chief Commercial Officer Jean-David Péquignot stated that $60,000 is a key structural threshold for Bitcoin. Over the past year, a large amount of institutional funds (including ETF buyers, large holders, and short-term speculators) have bought Bitcoin in the $60,000 to $67,000 range. If the price continues to decline, unrealized losses will increase, and holding costs will rise, especially against the backdrop of rising AI stocks, which may prompt panic selling among investors. The open interest of put options with a strike price of $60,000 on Deribit has a notional value of over $1.2 billion.As Bitcoin approaches $60,000, market makers face Gamma risk from shorting put options and will be forced to sell spot or futures to balance their books, accelerating the decline. In addition, there is still excessive leveraged long positions in the system, and a drop below $60,000 could trigger more liquidations, creating a chain reaction.