4E: Bitcoin is experiencing a downward fluctuation, with macro pressures and risk sentiment continuously affecting the market.

On June 16, news from 4E Observation reported that as of 16:00 (UTC+8) on June 16, Bitcoin (BTC) was last quoted at $106,380, having retreated from a high of $110,300 over the past four days, with a low of $103,700, overall remaining in a weak oscillation range. Although there was an attempt to rebound above $107,000 in the short term, upward momentum was lacking, and short positions sentiment still dominated. The crypto market is under pressure simultaneously. Ethereum (ETH) has fallen below $2,800, with mainstream coins like SOL and AVAX experiencing a pullback of over 8%. The total market capitalization has dropped to approximately $3.18 trillion, and risk appetite remains low. On-chain data shows that retail trading enthusiasm has weakened, and institutional capital inflow has also slowed. On a macro level, the CPI and PPI released by the United States last week were both lower than expected, but the Federal Reserve maintained interest rates and released a hawkish signal, indicating that there may only be one rate cut this year, leading to market adjustments. The dollar strengthened in the short term, and US Treasury yields rose, putting pressure on risk assets. In addition, there is still uncertainty in the geopolitical situation. The tensions in the Middle East remain unresolved, gold continues to rise, while Bitcoin’s reaction is limited, once again raising market doubts about its safe-haven properties. In terms of regulation, the EU MiCA regulatory guidelines have entered a substantial implementation stage, with several compliant platforms being approved one after another, which is expected to improve the industry fundamentals in the medium to long term. However, in the short term, the market is still dominated by macro expectations and funding sentiments. 4E reminds investors to pay attention to risks and respond cautiously to market fluctuations.