Crypto Market Weekly Report: Optimistic Prospects for ETH ETF, BTC Rebound Approaching New Highs

Market Overview

This week, the crypto market is showing an overall upward trend, mainly influenced by the following factors:

1. The Federal Reserve's meeting minutes show that policymakers are concerned about insufficient progress in lowering inflation, suggesting that high interest rate policies may last longer.

2. The US dollar index fell on a weekly basis, while the three major US stock indices hit historical highs, led by technology stocks.

3. The probability of ETH ETF approval has significantly increased from 25% to 75%, driving the price of ETH to rise nearly 30%.

4. BTC ETF continues to see net inflows, with institutional funds showing an inflow trend for two consecutive weeks.

Main Cryptocurrency Performance

• BTC: Price rebounds to near historical high levels.
• ETH: Significantly leading the surge, breaking through 3800 dollars.
• ZKSYNC: Plans for an airdrop in June, with the market expecting a market value of 10 billion USD.
• LISTA: Soon to be launched on a certain exchange for liquid staking and decentralized stablecoin protocols.

Market Data

1. The total locked amount ( TVL ) reached 10.63 billion USD, with a weekly increase of 14%.

2. Public Chain TVL Proportion:
   • ETH chain: Rebound 20%
   • TRON chain: Rebound 3%
   • BSC Chain: Up 9%
   • SOLANA chain: up 7%
   • ARB Chain: Up 18%
   • BLAST Chain: Up 28%
   • MERLIN Chain: Soared 171%

3. BTC on-chain data:
   • The proportion of long-term holders is decreasing, while the number of short-term holders is increasing.
   • MVRV-ZScore is 2.5, in the middle stage
   • Institutional funds have shown an inflow trend for two consecutive weeks.

4. Futures Market:
   • Funding rate slightly increased
   • The BTC holdings have significantly increased, indicating that the main funds are entering the market.
   • The long-short ratio is 1.3, and the market sentiment is neutral.

5. NFT market:
   • The NFT-500 index continues to decline
   • The floor price of blue-chip projects fluctuates.
   • Trading volume continues to decline, and the number of buyers has not seen a significant rebound.

Market Outlook

1. The approval expectation for the ETH ETF has increased, which may drive further growth in the crypto market.

2. BTC price is approaching its historical high and may face some pressure in the short term.

3. Institutional funds continue to flow in, indicating that investors remain optimistic about the market outlook.

4. The NFT market is still in a sluggish state, and significant improvement is unlikely in the short term.

5. Emerging public chains and Layer 2 projects may become the next market hotspots.