Market Trends: Policy easing boosts crypto assets strength, Bitcoin breaks through $106,000

The recent macro environment has shown a positive shift. The ceasefire agreement between Israel and Iran has eased geopolitical tensions, boosting market risk appetite and causing oil prices to fall back to pre-conflict levels. The Federal Reserve Chairman sent dovish signals during the congressional hearing, and although he did not explicitly rule out the possibility of a rate cut in July, he stated that more data is needed to assess the impact of tariffs on inflation. The market interpreted this statement as leaning towards easing, and coupled with the reduction of geopolitical risks, it led to a significant rise in US stocks, while US Treasury yields and the dollar fell in tandem.

In terms of regulation, a certain trading platform is seeking approval from regulatory authorities to launch tokenized stock trading services. If approved, the platform will leverage blockchain technology to enter the stock trading field, providing investors with more diversified and flexible trading options. At the same time, the regulatory agencies' attitude towards the crypto assets industry has also changed, as they not only withdrew lawsuits against several crypto companies but also established a dedicated working group to formulate digital asset regulations.

Bitcoin broke through $106,000 amid macroeconomic tailwinds, but showed relative restraint. Analysis indicates that the 13% increase in Bitcoin year-to-date contrasts with over $63 billion in capital inflows, reflecting the market's cautious attitude towards structural changes. Currently, the chip concentration within the 5% price range of Bitcoin has reached 14.5%, and a breakthrough of 15% could trigger significant volatility. Several technical analysts believe that Bitcoin may consolidate at current levels in the short term, with $107,000 becoming a key resistance level.

In terms of Ethereum, data shows that a certain trading platform has experienced large-scale fund withdrawals, with over 4000 BTC and 61000 ETH flowing out of the platform, indicating that traders may be shifting from short-term speculation to long-term holding strategies. Analysis points out that as the capital rotation pattern shifts from Bitcoin to Ethereum, ETH may see a significant rise. However, there are also views that it is quite difficult for ETH to return to the level above 3000 USD in the short term, facing fierce competition from other public chains.

In the market, several emerging tokens have attracted investors' attention due to various concepts and mechanisms, with market values rapidly rising and then experiencing a pullback. Traditional financial institutions are also accelerating their layout in the encryption field, with a U.S. company announcing the acquisition of a certain crypto asset as a strategic reserve through a large convertible bond, driving its stock price up significantly. The Hong Kong market has welcomed the first Chinese-funded brokerage with a comprehensive virtual asset license, which can provide mainstream coin trading services.

Overall, the improvement in the macro environment and the shift in regulatory attitudes bring positive benefits to the crypto market, but investors remain cautious. Although mainstream crypto assets like Bitcoin and Ethereum have seen an increase, they face certain pressures. The market's focus is gradually shifting from short-term speculation to long-term value and practical applications, and the integration of traditional finance and the crypto field is also accelerating.