Crypto Market Update: BTC breaks through the $110,000 mark, CPI data and US Treasury auction are in the spotlight

Market Observation

At 20:30 tonight and 1:00 AM the next day, the US May CPI data and a $39 billion 10-year Treasury auction will be released successively, attracting high market attention. Economists expect a month-on-month CPI increase of 0.2%, but investors are concerned that tariffs may push inflation levels higher. At the same time, the demand for the 10-year Treasury auction has also become a focal point, especially against the backdrop of current trade policy uncertainty. If the CPI data exceeds expectations and the Treasury auction performs poorly, it could create a dual blow to the bond market, leading to a sharp rise in yields.

Analysts point out that inflation data may directly affect auction demand, and investors are closely watching related performance to assess changes in market sentiment. Currently, the market has excluded the possibility of an interest rate cut at the June or July FOMC meeting, only expecting a 0.25% rate cut in September.

As major economies around the world improve their regulatory frameworks for encryption assets, the market is undergoing a reconstruction of its value system. The U.S. "GENIUS Act" has pushed the market value of mainstream stablecoins to over $280 billion; the EU's MiCA Act has promoted industry centralization; and Hong Kong has formed a unique advantage with its "dual-track" regulatory model. Recently, Circle's IPO has attracted widespread attention, with its valuation once reaching $24 billion, reflecting investors' confidence in compliant encryption financial infrastructure.

Bitcoin recently broke through $110,000 and is currently consolidating below $110,668. According to analysis, Bitcoin has broken the short-term downtrend and formed a bullish breakout pattern. Even if CPI data may bring upward pressure, as long as the price remains above $105,075, the bullish trend remains valid. Ethereum has also become the market focus, with its implied volatility rising and bullish sentiment in the options market strengthening.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins. Can BTC hold the support level of $105,000? CPI data and US bond auctions become the market focus](https://img-cdn.gateio.im/webp-social/moments-4fd5d60786895c3830cfb807c59f3197.webp01

Recently, the Labubu market sentiment is high, and the meme coin of the same name has seen a significant increase in market value. The on-chain market has generally warmed up, with the old MEME coins AURA and Useless from the Bonk ecosystem reaching new highs. It is worth noting that Arthur Hayes is optimistic about HYPE, which has surpassed SUI in market value and reached an all-time high in price.

Key Data (as of June 11, 12:00 HKT)

• Bitcoin: $109,642 (Year-to-date +17.09%), Daily trading volume $34.456 billion
• Ethereum: $2,789.39 (Year-to-date -16.28%), Daily trading volume $35.099 billion
• Fear and Greed Index: 65 (Greed)
• Average GAS: BTC 3.52 sat/vB, ETH 3.28 Gwei
• Market share: BTC 63.2%, ETH 9.8%
• 24-hour BTC long-short ratio: 0.9354
• Sector changes: DeFi up 4.92%, L2 up 3.36%
• 24-hour liquidation data: 106,468 people were liquidated, with a total amount of 320 million USD.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins, can BTC hold the support level of $105,000? CPI data and US bond auctions become the market focus])https://img-cdn.gateio.im/webp-social/moments-4e66808c014e8251db8c00ed5bb68bde.webp(

ETF Flow (as of June 10)

• Bitcoin ETF: +431 million USD
• Ethereum ETF: +125 million (17 consecutive days of net inflow)

Today's Outlook

• A certain wallet platform exclusively launches the 22nd TGE for MEET48 (IDOL)
• A certain trading platform will delist the USDT perpetual contracts for X, BSV, BR, GUN, and SWELL on June 12.
• Multiple projects (Delysium, io.net, Aptos, BounceBit) will undergo token unlocking.
• US May CPI data release (June 11, 20:30)

Hot News

• The U.S. SEC has requested the issuer of the spot Solana ETF to update the S-1 filing.
• Ethereum spot ETF has maintained net inflows for 17 days.
• Nasdaq has submitted a listing application for the 21Shares SUI ETF to the U.S. SEC.
• ARK Report: Bitcoin's rise is not a speculative frenzy; funds are shifting from the housing and automotive markets to BTC.
• Michael Saylor predicts that Bitcoin will reach $1 million per coin.
• The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate BTC purchases.
• A certain platform announced an update to its investment policy to include BTC and other digital assets.
• "20x Long BTC Whale" has expanded its position to $405 million.
• Huang Licheng HYPE long position floating profit of 6.5 million USD, has begun to gradually take profits.

![HashKey Trading Moment: LABUBU's sky-high auction drives the revival of old Meme coins. Can BTC hold the support level of $105,000? CPI data and US bond auctions become the market focus])https://img-cdn.gateio.im/webp-social/moments-3484f6c2a24ab3e1208628f055de2129.webp(