PANews reported on June 5 that QCP Capital, a Singapore-based crypto investment firm, said that despite the US ADP employment and ISM data falling short of expectations, risk assets remained stable. President Trump accused the Fed of not cutting interest rates in a timely manner and proposed to permanently lift the debt ceiling. The Treasury Secretary announced the "Big Beautiful Bill" plan, which intends to provide 100% tax breaks for manufacturing and R&D centers. Congress will vote on the relevant bill on July 4.

JPMorgan Chase approved cryptocurrency ETFs as loan collateral for retail, trading and wealth management businesses, officially recognizing the net value status of crypto assets for the first time. Publicly listed companies K Wave Media and Treasure Global have announced the allocation of crypto assets. Circle Internet Financial has submitted an IPO application with a valuation of US$7.6-8.1 billion. On June 4, the net inflows of spot BTC/ETH ETFs were US$87 million and US$57 million, respectively. Although it slowed down from May, the structure is still solid. ETH continues to test the 200-day moving average, and the ETH/BTC exchange rate remains near 0.025, showing relative strength. The demand for the $130,000 BTC call option expiring in September has increased, reflecting the market's expectations for a breakthrough in the previous high.