Market dynamics on June 5: BTC rises approaching previous high, altcoins generally increase
I. Market Dynamics
1. BTC is approaching its previous high, with altcoins generally rising. The spot ETF has seen a net inflow for 15 consecutive days, improving market liquidity.
2. U.S stocks are on the rise as employment data boosts expectations of interest rate cuts, and the dollar index fell on a weekly basis.
II. Market Focus
1. CKB, STX, ORDI inscriptions, PUPS and others in BTC L2 have surged significantly. STRK in ETH L2 is expanding to do BTC L2; however currently 80% of BTC transactions are runes.
2. Uniswap posted positive news on social media which led to an over 20% increase.
3. Bn series CAKE, XVS, BAKE all rose broadly.
4. Public chain TON increased while FISH in its ecosystem doubled its value surge . FISH is the second Meme dragon in TON's ecosystem with a market value that's one percent of Dragon One NOT's.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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