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Phemex Crypto Market Daily: Crypto Market Slides as BTC, ETH Drop; SIREN, BEAT Defy Downtrend (Jun 04)
Key Takeaways:
1. Macro Environment US inflation expectations have risen to 3.7% amid persistent energy price shocks, reducing the likelihood of near-term Fed rate cuts. The ISM Services PMI climbed to 54.4, signaling robust US services growth but also sticky input cost inflation. Asian central banks are intensifying currency defense as high energy costs and Fed policy expectations pressure local FX, potentially driving capital flows into crypto. 2. Crypto Market The crypto market saw broad declines over the past 12 hours, with BTC down 3.79% to $64,100 and ETH falling 3.90% to $1,781.15, pressured by continued ETF outflows and risk-off sentiment. Most major altcoins dropped, including SOL (-5.57%), ADA (-11.92%), and FET (-14.48%). Notably, SIREN (SIREN) surged 19.78%, Audiera (BEAT) rose 13.41%, and Binanrensheng gained 12.04%, driven by protocol upgrades, user growth, and speculative inflows. 3. Today's Outlook Today’s key event is the release of US initial jobless claims, a critical indicator for economic health and market sentiment. This data may influence risk appetite and volatility across both traditional and crypto markets.Phemex Crypto Market Daily: Crypto Market Slides as Bitcoin Drops Below $63K; WLD, ENA Defy Downtrend (Jun 04)
Key Takeaways:
1. Macro Environment Eurozone inflation surged to 3.2% in May, driven by an 11% rise in energy costs, raising expectations for an ECB rate hike. The US Treasury sanctioned major Iranian crypto exchanges, increasing compliance risks and disrupting cross-border flows. South Korea's higher-than-expected CPI challenges rate-cut bets, potentially strengthening the won and dampening local crypto demand. 2. Crypto Market The crypto market saw broad declines as risk sentiment weakened. Bitcoin fell 6.28% to $62,668 and Ethereum dropped 4.89% to $1,771.61, pressured by ETF outflows and geopolitical tensions. Despite the downturn, Worldcoin (WLD) surged 29.7%, Ethena (ENA) rose 19.1%, and Lighter (LIT) gained 4.9%, driven by ecosystem news and strategic partnerships. Most altcoins, including SOL (-7.07%) and ARB (-2.18%), underperformed. 3. Today's Outlook No major token unlocks or protocol launches are scheduled for June 4, 2026. Market participants will closely monitor macroeconomic data and regulatory developments for further direction.
