【#HashKey Trading Desk】: The Largest "Triple Witching" Day in US Stock Market History ($6.5 Trillion) is Approaching, Bitcoin's Current Momentum is Insufficient and May Continue to Consolidate

Keywords: LABUBU, ETH, $BTC

🦅 1/ The Federal Reserve maintained the benchmark interest rate unchanged at 4.25%-4.50%, in line with expectations, but with a hawkish stance. Trump expressed dissatisfaction with this, calling for a sharp interest rate cut of 100-250 basis points. 10 Federal Reserve officials expect at least two interest rate cuts this year, while 7 believe that interest rates will remain unchanged.

⚠️ 2/ On Friday evening, approximately $6.5 trillion in US stock options and derivatives contracts will expire in concentration, i.e., "Triple Witching" day. Although it may not directly trigger violent fluctuations on the day, it may bury hidden dangers of volatility for the market next week.

🌍 3/ Geopolitics: Although the situation between Israel and Iran remains tense, the market's sensitivity to this seems to have decreased, and there is no significant increase in risk aversion.

💡 4/ Opinion: HashKey Group Chairman and CEO Xiao Feng stated at a recent salon that the virtual asset industry has entered its second growth curve, and the industry's focus is shifting from "digital native" represented by Bitcoin to "digital twin" represented by stablecoins and Real World Asset (RWA) tokenization.

👨‍🏫 5/ Current Status of the Crypto Market: Due to the "Juneteenth" holiday in the US stock market (June 19), the price of $BTC has remained basically unchanged for the past 3 days. Less than $100 million has been liquidated in the past 24 hours. Analyst Nancy Lubale pointed out that the escalation of geopolitical tensions has increased investors' risk aversion, increasing demand for traditional safe-haven assets such as gold and US Treasury bonds, while demand for risk assets such as Bitcoin has decreased. At the same time, the Federal Reserve's decision to maintain interest rates has strengthened the US dollar, which has also put pressure on Bitcoin.

📊 6/ Technical Analysis of BTC: The price is restricted by multiple moving average resistances near $106,000. Trading volume is low, and the RSI is near the midline. If it can break through the moving average resistance in the short term, it may have a chance to challenge the $112,000 high, but the current momentum is insufficient and it may continue to consolidate.

🇨🇭7/ Downside Focus: Market selling pressure on Bitcoin has continued since June, and recent rebounds have seen low trading volume, indicating insufficient upward momentum. If demand continues to be weak, it may test the support range of $94,000 to $97,000 in the short term. The market urgently needs more buying demand. CryptoQuant warns that if demand continues to deteriorate, Bitcoin may fall back to the $92,000 support level, and in extreme cases, it may even fall to $81,000.

✨ 8/ Solana Critical Moment: Jimmy Aki said that if $SOL falls below $140, it may accelerate downward to the $102-$103 area (approximately -30%). Conversely, if it breaks through $160-$170 with increased volume, it may reverse the bearish trend, targeting $180-$220.

😱 9/ Solana Ecosystem Meme: $LABUBU fell by 23% in 24 hours, which may be related to the collapse of Labubu toy prices and Pop Mart's large-scale replenishment. Crypto lawyer Gabriel Shapiro launched the experimental fork chain Gorbagana, whose token $GOR once reached a market cap of $40.00 million; developer @thedulab's $YOURSEL and internet celebrity dog $shiyo also once reached market caps near $2.20 million.

❄️ 10/ Avalanche and BSC Dynamics: The popularity of Meme coins on Avalanche has cooled down, with $PUFF having a market cap of $3.60 million and $MEOW having $2.20 million; the BSC fund continues to buy altcoins according to plan, with this purchase being $200,000. The top three holdings are CAKE ($190,000), LISTA ($186,000), and SKYAI ($77,000).

BY @HashKeyExchange & @PANewsCN