ETH is expected to break through 2700 USD, ZKJ big dump triggers 100 million liquidation, Solana ecosystem tokens strengthen.

Market Dynamics: ETH is expected to break through $2700, ZKJ's big dump triggers massive liquidations, Solana ecosystem Tokens benefit

1. Market Observation

macro economy

The Federal Reserve will announce its interest rate decision in the early hours of June 19, and the market is highly focused on Chairman Powell's speech for guidance on policy direction. Despite a slowdown in job growth, the unemployment rate has remained stable for three consecutive months, partly due to a decrease in the number of immigrants reducing labor supply. The core inflation rate in May rose less than expected for the fourth consecutive month, and expectations for rate cuts supported a seven basis point drop in the yield on the U.S. two-year Treasury note to 3.96% last week.

Some Federal Reserve officials have expressed an open attitude towards interest rate cuts, believing that the impact of tariffs on prices can be viewed as temporary, as long as inflation expectations remain stable. Some economists predict that if officials raise inflation expectations, the number of interest rate cuts this year may be reduced. Analysis suggests that interest rate cuts could begin in the fourth quarter to address potential slowdowns in the labor market. The impact of tariff policies and geopolitical situations add uncertainty to the economic outlook, and the market will closely monitor the Federal Reserve's new round of economic forecasts.

Industry Trends

In the global wave of digital transformation, the integration of traditional industries with Web3 and AI technologies is reshaping the business landscape. This trend is reflected not only in the corporate layout of decentralized AI and blockchain technologies but also in specific investment actions. For example, a NASDAQ-listed company has invested $500 million in Fetch.ai Token, aiming to create the largest corporate AI token reserve in the world. The world's first decentralized large language model launched by Fetch.ai provides AI support for multiple industries with advantages in data privacy, scalability, and community-driven innovation.

However, as companies accelerate their entry into Web3 through private equity and crypto market makers, they must also be wary of the price volatility of crypto assets and regulatory compliance risks, ensuring strategic sustainability while seizing innovation dividends.

Bitcoin trend

Bitcoin remains volatile over the weekend. The technical indicators show that BTC is currently trading above the 0.236 Fibonacci retracement level (104,872 USD) and along the upward trend line that has been in place since the beginning of June. The MACD histogram is flattening, indicating a weakening of bearish momentum. If the price breaks above the 50-period moving average (106,351 USD) and stays above the 0.5 Fibonacci level (106,788 USD), it may test 107,640 USD and 108,864 USD in the short term.

Despite the increased market volatility, the technical structure of Bitcoin remains sound, and as long as it does not fall below $103,169, its overall upward trend remains solid. Analysts have pointed out that $105,000 is a key resistance level, and if it is breached again, Bitcoin may retreat to the $100,000 liquidity area, providing new buying opportunities for the market. Other traders believe that Bitcoin is forming an "inverse head and shoulders pattern," and once it breaks the neck line ($113,000), the price target may exceed $140,000.

Historical data shows that after a significant rise in oil prices, Bitcoin prices may increase by 16% to 24% in the short term. Although Bitcoin is generally considered a risk asset, it has seen notable rebounds following several historical events when oil prices surged. For example, after oil prices rose to $80.50 in January 2025, Bitcoin rebounded 22% from $89,300 to $109,300, a similar situation also occurred in 2024. Currently, as oil prices rise again, historical data indicates that Bitcoin around $102,800 may be an attractive entry point, with a target increase of 16% to $119,200 by June 21.

ETH trend

Ethereum stabilized around $2509 after a pullback from $2771 to $2443 last week, resulting in a loss of $298 million for 80,000 traders. However, institutional investors continued to increase their positions, with a large asset management company purchasing $570 million in ETH over the past two weeks, currently holding over 1.5 million coins valued at $3.83 billion, while another company acquired 176,000 ETH for $463 million.

From a technical perspective, ETH is testing the key support range of $2,500 to $2,550. If the support holds, it may rebound to the range of $2,700 to $2,800; otherwise, it may pull back to $2,300 or even $2,000. Notably, the supply of ETH on exchanges has dropped to its lowest level in eight years, and the supply shortage may drive prices up. The market generally anticipates that ETH is expected to break $4,000 by the end of 2025, with some analysts being more optimistic, forecasting a short-term target price of $5,400 and a long-term target price of $7,000.

HashKey Trading Moment: ETH is expected to challenge $2700, the big dump of ZKJ triggered $100 million in liquidations, Solana ecosystem tokens may benefit from the approaching ETF

market volatility

On the evening of June 15, ZKJ and KOGE experienced a big dump on a trading platform. The price of ZKJ plummeted from $1.98 to $0.253, a fall of 83.64%; KOGE also suffered a heavy blow, falling from $62 to $8.48. Analysis indicates that this big dump was triggered by multiple key addresses withdrawing liquidity and large sell-offs, leading to panic selling and liquidity exhaustion in the market. Moreover, the upcoming unlocking of 15.53 million Tokens of ZKJ further exacerbated the selling pressure. Data shows that the total liquidation amount across the network in the past 24 hours reached $240 million, with ZKJ contributing $102 million.

At the same time, the SOL ecosystem may benefit from the big dump of related tokens and the impending ETF, showing strong performance. SOL has increased by 7.3% in the last 24 hours, with the ecosystem project Marinade up 39.4% in 24 hours, Jito up 18.2%, and Kamino up 10%. The market cap of the meme coin aura briefly reached 235 million USD, hitting an all-time high before falling back to 178 million USD. In addition, WLFI community members expect their token to go live on June 16, while the official announcement is set to release an important announcement tonight at 8 PM, with the current institutional OTC price at 0.10 USD.

2. Key Data (As of June 16, 12:00)

  • Bitcoin: $106,412 (YTD +13.94%), Daily Spot Trading Volume $25.206 billion
  • ETH: $2,576.40 (Year-to-date -22.25%), Daily spot trading volume is $14.241 billion
  • Fear and Greed Index: 50 (Neutral)
  • Average GAS: BTC: 1.17 sat/vB ETH: 0.31 Gwei
  • Market share: BTC 63.8%, ETH 9.4%
  • 24-hour BTC long-short ratio: 1.0305
  • Sector Rise and Fall: SOL ecosystem up 8.6%; AI Meme up 6.2%
  • 24-hour liquidation data: A total of 68,397 people worldwide were liquidated, with a total liquidation amount of 240 million USD, including BTC liquidations of 26.5295 million USD, ETH liquidations of 39.155 million USD, and ZKJ liquidations of 102 million USD.
  • BTC medium to long-term trend channel: upper channel line (107213.54 USD), lower channel line (105090.50 USD)
  • ETH medium to long-term trend channel: upper channel line (2611.58 USD), lower channel line (2559.87 USD)

HashKey Trading Moment: ETH is expected to challenge $2700, ZKJ big dump triggers $100 million liquidation, Solana ecosystem Token may benefit from the approaching ETF

3. ETF Flows (as of June 13)

  • Bitcoin ETF: +$302 million
  • Ethereum ETF: -$2.176 million (19 days of net inflow ended)

4. Today's Outlook

  • A trading platform will stop supporting FIS and MDT Token deposits and withdrawals through the BNB Chain on June 16.
  • A trading platform will adjust the Alpha points rules on June 17 to respond to the big dump of ZKJ and KOGE.
  • The U.S. Senate will hold a final vote on the stablecoin GENIUS bill on June 17.
  • Starknet: The v2 version of STRK staking will be launched on the mainnet on June 17.
  • Nansen will launch the first season points program on June 17.
  • Arbitrum (ARB) will unlock approximately 92.65 million Tokens at 9 PM on June 16, which is 1.91% of the current circulating supply, valued at about 30.2 million USD.
  • ZKsync (ZK) will unlock approximately 768 million Tokens on June 17 at 4 PM, which is 20.91% of the current circulation, worth about 39 million USD.
  • ApeCoin (APE) will unlock approximately 15.6 million Tokens on June 17 at 8:30 PM, which accounts for 1.95% of the current circulating supply, valued at approximately $10.6 million.

Top 500 largest market cap gains today: VaderAI (VADER) up 20.63%, Jito (JTO) up 16.75%, Non-Playable Coin (NPC) up 15.61%, Ribbita (TIBBIR) up 14.52%, Chintai (CHEX) up 14.04%.

5. Hot News

  • Data: Tokens such as ZK, ZKJ, ARB, etc. will experience large unlocks, with ZK unlocking a value of approximately $39 million.
  • This week's macro outlook: With the missile battle led by Iran escalating, the "wartime market" for gold and crude oil may wipe out all shorts.
  • This week's forecast: The Federal Reserve and the Bank of Japan will announce their interest rate decisions; the U.S. Senate may conduct a final vote on the stablecoin GENIUS bill.
  • AguilaTrades has been continuously increasing its long position in BTC after opening it and plans to raise it to 262 million USD.
  • Vietnam aims to legalize cryptocurrency through the Digital Technology Law, expected to take effect on January 1 next year.
  • Trend Research adds another 100,000 ETH options.
  • Metaplanet issues $210 million zero-interest bonds to purchase BTC
  • A trading platform adjusts the Alpha points rules in response to the violent fluctuations of ZKJ and KOGE.
  • A trading platform Alpha has launched SynFutures (F)
  • CEO of a trading platform: does not own 90% of the company's shares
  • Interpretation: "Big companies" target stablecoins, Xiaomi, Ant Group, and JD.com have all made arrangements.
  • The trading platform Alpha has launched Degen (DEGEN)
  • The founder of Cardano proposed to exchange 100 million ADA for BTC and stablecoins to revitalize DeFi.
  • SharpLink Gaming invested $463 million to acquire 176,271 ETH, becoming the largest publicly listed holder of coins.

HashKey Trading Moment: ETH is expected to hit $2700, ZKJ big dump triggers $100 million liquidation, Solana ecosystem tokens may benefit from the upcoming ETF

ETH2.06%
ZKJ3.2%
SOL1.84%
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MetaverseVagrantvip
· 07-08 01:41
Not running at a high position, waiting for liquidation, right?
View OriginalReply0
faded_wojak.ethvip
· 07-05 06:24
Staying in place has long become numb.
View OriginalReply0
SerumSurfervip
· 07-05 01:53
Dry pump Solana is forever a god!
View OriginalReply0
LiquidityNinjavip
· 07-05 01:45
Get your stool ready and watch ETH To da moon
View OriginalReply0
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