Merkle3s Weekly Market Quick Facts 📊 6/24
1️⃣ The conflict between Israel and Iran has eased, and BTC volatility has weakened 🌐
- Earlier this week, the Israel-Iran conflict sparked wild volatility in the markets, but then Trump brokered a ceasefire between the two sides and the market stabilized quickly.
- It is expected that $BTC will oscillate between $100K-$110K, continue to digest the selling pressure and then seek upside.
2️⃣ Trump pressurs interest rate cuts, and internal divisions within the Fed intensify 📉
- Trump's continued pressure to cut interest rates, with two Fed officials appointed during his first term publicly supporting a rate cut at the end of July, underscoring a marked increase in decision-making divisions within the Fed.
3️⃣ On-chain indicators show that the market is becoming defensive 🛡️
- #BTC The average daily active addresses are stable and slightly decreased; On-chain trading volume has not recovered its previous high, and the overall market sentiment is cautious.
- In the past 10 days, the number of BTC holding addresses has changed slightly, and long-term holders have stable positions and their confidence has not decreased.
- Dormancy and RHODL indicators show small activity in the short term, but no signs of large-scale outflows in the long term.
4️⃣ ETF funds continue to flow 📈 strongly
- Bitcoin spot ETFs saw net inflows of about $1.14 billion this week, with the largest one-day net inflow of $641 million (June 17).
- Institutional investment enthusiasm remains strong, with net inflows exceeding US$1 billion for two consecutive weeks.
5️⃣ The popularity of meme tokens continues to increase 🔥
- #Gorbagana $GOR: A meme coin forked from Solana, inspired by Toly's community joke "garbage + Solana", which quickly gained market attention.
- #USLESS #LETSBONK: The "Uselessness is Faith" themed meme coin launched by the Bonk team has become a hot spot in the market this week with a market capitalization of more than $100 million.
Merkle3s Weekly Snapshot 📊 6/24
1️⃣ Israel-Iran Conflict Eases, BTC Volatility Subsides 🌐
- Conflict between #IsraeliranWar caused substantial market volatility early in the week but was quickly resolved by a ceasefire agreement facilitated by Trump. - $BTC expected to consolidate between $100K–$110K, absorbing remaining selling pressure before potential upward momentum resumes.
2️⃣ Trump Pushes for Fed Rate Cut, Internal Fed Debate Intensifies 📉
- Pressure from Trump intensified, with two Fed officials appointed during his first term publicly supporting a rate cut at the end of July, highlighting growing divisions within the Fed’s decision-making body.
3️⃣ On-Chain Indicators Signal Defensive Market Stance 🛡️
- Daily active #BTC addresses slightly declined; on-chain transaction volumes have not recovered to previous highs, indicating market caution.
- Minimal BTC holder address changes over the past 10 days suggest continued confidence from long-term holders.
- Dormancy and RHODL metrics show minor short-term activity, but no significant long-term capital outflows.
4️⃣ Robust ETF Inflows Continue 📈
- Bitcoin spot ETFs attracted ~$1.14B net inflows this week, with the largest single-day inflow of $641M on June 17.
- Institutional enthusiasm remains strong, marking the second consecutive week of inflows exceeding $1B.
5️⃣ Meme Tokens Gain Spotlight 🔥
- #Gorbagana $GOR: A meme token forked from Solana, inspired by Toly’s humorous “garbage + Solana” community remark, gained rapid attention.
- #USLESS #LETSBONK: “Useless is Faith” themed meme token launched by the Bonk team achieved a market cap surpassing $100M, emerging as this week’s meme highlight.
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