PANews reported on June 5 that HTX Research researcher Chloe (@ChloeTalk1) analyzed in this column that the current crypto market is in a delicate stage of "friendly policies and tight funds". On the one hand, the policy side is constantly favorable, and legislation such as stablecoin regulation, Token Act and tax exemptions are progressing smoothly. Institutions continue to buy BTC to form long-term support, and the cooling of core inflation has led to an increase in expectations for interest rate cuts within the year; but on the other hand, U.S. Treasury yields have risen against the trend, with the 30-year yield rising to 5%, close to the 2023 high. The strong money-absorbing effect of the bond market has suppressed risky assets, and the TGA account replenishment has put pressure on liquidity, resulting in BTC being difficult to break through strongly in the short term, and the probability of maintaining volatility is higher.

Regarding altcoins, Chloe said that due to high volatility and lack of structural support, the risk of systemic pullback may be higher than that of mainstream currencies.