VICTORIA, Seychelles, June 07, 2024 (GLOBE NEWSWIRE) -- WOO X Research, the analysis team of the global centralized crypto futures and spot trading platform WOO X, is pleased to share its latest market insights on the current trends in the crypto landscape.

Market Overview:
BTC continues to push towards $72,000, reaching a high of $71,700 before retreating around $71,000. With the European Central Bank cutting rates by 25 basis points as expected, the probability of a rate cut by the Federal Reserve in September has increased. The current probability of the Fed maintaining rates in June is 97.6%, with a 2.4% chance of a 25 basis point cut. For August, the probability of maintaining rates is 78.5%, with a cumulative probability of a 25 basis point cut at 21.1%. Continuous observation of tonight's U.S. unemployment rate, non-farm payroll data, and the resistance level at $72,000 is advised.

BTC Spot ETF:
As of June 6, updated data shows a total net inflow of $15.32 billion into BTC spot ETFs, with a single-day net inflow of $215 million and a daily trading volume exceeding $600 million. ETF net assets account for 4.44% of BTC's market value. Key observations include:

• GBTC: Single-day net outflow of $38 million, cumulative net outflow of $18 billion, daily trading volume of $234 million, current net asset value of $20.09 billion.
• IBIT: Single-day net inflow of $347 million, other data not available.
• FBTC: Single-day net inflow of $3 million, cumulative net inflow of $10 billion, daily trading volume of $245 million, current net asset value of $12.28 billion.
• ARKB: Single-day net outflow of $97 million, cumulative net inflow of $3 billion, daily trading volume of $79.96 million, current net asset value of $3.46 billion.

Significant Daily Gainers:

• Brett (Market Cap Enters Top 100): A meme coin deployed in the Base ecosystem, originating from Matt Furie's 2005 comic "Boy's Club," which features Pepe and his three friends, including Brett, a frog who loves dancing, fashion, and hats. Current on-chain liquidity is $15.07 million, with a market cap of $1.46 billion and a 24-hour trading volume of $156 million, placing it at 79th in market cap rankings.
  
• W (Up 22% This Week): On June 6, Wormhole officially launched the Stake for Governance function. W token holders need to cross-chain their tokens to the EVM chain and stake them to participate in governance decisions. During the Wormhole airdrop in March, 8,000 tokens were airdropped to 1,081 Monad community users. After the staking announcement, an AMA was held with only three speakers: Wormhole officials, Monad officials, and Tally staking platform officials. The community expects staking W will lead to future airdrops of the hot project Monad, resulting in a 12% rise in W's price in the past 24 hours, with a market cap of $1.26 billion, ranking 84th in market cap.
  
• ANDY (Up 23% in a Day): From Matt Furie's 2005 comic "Boy's Club," part of the PEPE series speculation targets. Recently, the token hit a new all-time high with a market cap of $278 million, on-chain liquidity of $5.5 million, and a 24-hour trading volume of $15.52 million. The continuous new highs of PEPE-related anime memes indicate a comprehensive improvement in on-chain meme liquidity and a rapid increase in market profitability.

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Disclaimer

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.