News

Jinse Finance reports that the Bitcoin derivatives market is showing clear signs of deteriorating risk appetite, with investors paying a significant premium for downside protection and market sentiment approaching “panic” levels. However, analysts believe that once a key catalyst appears, the market may quickly experience a sentiment-driven recovery rally. This catalyst could come from the upcoming release of the US Core PCE Price Index data at 8:30 Eastern Time. The market generally expects the US Core PCE to have risen 3.4% year-on-year in May, higher than April’s 3.3%, marking a new high since the end of 2023. If the actual data is below expectations, it will strengthen the outlook for cooling inflation, weaken the justification for further rate hikes by the Federal Reserve, and potentially improve sentiment for risk assets.

According to ChainCatcher, PR Newswire reported that Canaan announced its Chairman and CEO Nangeng Zhang, together with its CFO Jin Cheng, recently purchased a total of 1,065,000 American Depositary Shares on the open market at an average price of $0.35 per share. The company stated that this increase in holdings complies with internal trading policies and applicable securities regulations, reflecting management's confidence in the company's long-term strategy and future development prospects.

According to Odaily, Swissquote Bank senior market analyst Ipek Ozkardeskaya stated: "If the PCE data is stronger than expected, it may further encourage the Federal Reserve to adopt a more hawkish stance and reverse the optimism that appeared in the market after Micron Technology's earnings report." Ozkardeskaya added that, as tech giants continue to increase their debt to realize their ambitions in artificial intelligence, this may reignite the troubling issue of rising borrowing costs. (Golden Ten Data)