1. Overview

Lee Jae-myung has been elected as the new President of South Korea, raising market expectations for the approval of spot crypto ETFs and the issuance of a Korean won-based stablecoin. Meanwhile, the U.S. steel and aluminum tariff hikes announced by Donald Trump will take effect from June 4, and Truth Social, the media platform associated with Trump, has filed for a Bitcoin ETF. The U.S. April JOLTS job openings came in higher than expected, boosting confidence in the labor market’s resilience. BTC continues to move sideways, while market attention shifts to the U.S. May ADP employment data due tonight.

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2.Global Marco & Policy Outlook

Key Events Today:

• U.S. May ADP employment data to be released (previous value: 6.2)
• The U.S. House Financial Services Committee will hold its second full hearing on crypto market structure and stablecoin regulation.

Major Macro Highlights:

1. U.S. Employment Data Beats Expectations
   On Tuesday, the April JOLTS job openings stood at 7.391 million, above the expected 7.1 million. The previous figure was revised up from 7.192 million to 7.2 million. Ahead of Friday’s May Nonfarm Payroll report, the Bureau of Labor Statistics indicated the report will include revisions due to redesigned survey methodology.
2. Lee Jae-myung Elected South Korean President
   According to JTBC News, Democratic Party candidate Lee Jae-myung won the 21st presidential election. Lee has pledged to engage in dialogue with North Korea and boost economic growth. He has also expressed support for the approval of spot crypto ETFs and proposed issuing a Korean won-based stablecoin.
3. Trump’s Steel and Aluminum Tariff Hike Effective June 4
   On June 3, the White House announced that former President Donald Trump would double tariffs on imported steel and aluminum products from 25% to 50%, effective at 12:01 a.m. EDT, June 4, 2025. Trump cited national security concerns, stating that the previous tariffs had not sufficiently bolstered domestic capacity utilization to meet defense needs.
4. Fed Officials Sound Rare Unified Inflation Warning
   On June 3, multiple Fed officials warned of renewed inflationary risks, partly due to Trump’s proposed tariffs, which may lead to stagflation. Atlanta Fed President Bostic said inflation has not eased sufficiently, while Chicago Fed President Goolsbee warned tariffs could cause price spikes. Fed Governor Cook reiterated the importance of price stability and the need to remain flexible in policy response. Markets largely expect rates to remain unchanged at the June meeting.
5. California Assembly Passes Bitcoin Payment Bill
   The California State Assembly passed Bill AB 1180 by a unanimous vote of 68–0, allowing the state to accept Bitcoin and other digital currencies as payment. The bill has now been sent to the state Senate for further review.
6. Ethereum Co-founder Joe Lubin in Talks with Sovereign Wealth Fund
   Joe Lubin, Co-founder of Ethereum and CEO of Consensys, said on Tuesday that his firm is in discussions with a major sovereign wealth fund and leading bank from a “very powerful” nation about building infrastructure based on Ethereum. He predicted Ethereum will enter a “decentralized supercycle” and may become the backbone of a new global financial system.

Traditional Market Recap:

• U.S. indices closed higher: S&P 500 +0.58%, Dow Jones +0.51%, Nasdaq +0.81%.
• Gold initially fell on stronger-than-expected job data but rebounded; currently trading at $3,390/oz, up 0.4% intraday.
• South Korea’s KOSPI index rose over 2% in early trading after the election, now up ~15% YTD, leading among major Asia-Pacific markets.

3.Crypto Market Tracker

1. Major Token Spot Performance

(As of June 4, 2025, 10:00 AM)

2. Futures Capital Flow Analysis
   According to Coinglass, in the past 24 hours, futures net outflows led by SOL, DOGE, ETH, SUI, and PEPE may suggest short-term trading opportunities.3.
3. Bitcoin Liquidation Map
   
   Based on Coinglass data, at the current BTC price of $105,474, a drop below $104,000 could trigger $1.5 billion in long liquidations across major CEXs. Conversely, a break above $107,000 would trigger $630 million in short liquidations. Traders are advised to manage leverage levels prudently.
4. BTC Long/Short Ratio
   
   As of 10:00 AM, Coinglass reports the global BTC long/short ratio at 0.9216, with longs at 47.96% and shorts at 52.04%.

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4. Blockchain Headlines

• Satoshi Nakamoto’s net worth surpasses $116.7 billion, overtaking Bill Gates
• Trump-affiliated Truth Social files for a Bitcoin ETF
• Vitalik: Ethereum leads in CR and security; Bitcoin leads in some other aspects
• Spanish coffee chain Vanadi plans to invest over $1.1 billion in Bitcoin, rebranding as a “Bitcoin-first” company
• BlackRock’s IBIT spot Bitcoin ETF enters top 25 U.S. ETFs, reaching $72.4 billion AUM in just 1.4 years
• Sources: Pump.fun aims to raise $1 billion via token sale, valued at $4 billion
• Ethereum spot ETFs see $109 million net inflow yesterday, marking 12 consecutive days of inflows

5. Institutional Perspectives- Daily Picks

• Bloomberg: Trump’s meme coin wallet sparks intra-family crypto debate
• Standard Chartered: Corporate BTC accumulation boosts demand but could pose future sell-off risks
• Metaplanet CEO: Metaplanet tops Tokyo Stock Exchange in trading volume and turnover
• K33: Trump’s tariff policy and U.S. budget bill to drive June crypto market volatility
• 10x Research: Ongoing token unlocks and narrative fatigue stall altcoin market
• Matrixport: Bitcoin remains the capital favorite amid declining altcoin momentum

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6. BTCC Exclusive Market Analysis

The stronger-than-expected U.S. April JOLTS job openings data has bolstered market confidence in labor market resilience, but also raised expectations for the Fed to maintain higher rates for longer, adding short-term pressure to risk assets. Meanwhile, the election of Lee Jae-myung, who supports spot crypto ETFs and a KRW-based stablecoin, could provide a medium-term boost to South Korea’s crypto sentiment.

On June 4, BTC continued its sideways movement, trading at $105,438, remaining within a short-term consolidation range. BTCC analyst Kevin noted that if BTC falls below the key support level of $105,000, bears may push further toward the $103,000 zone. Conversely, a breakout above $106,500 could open the door to test the $107,700 resistance level. Traders are advised to monitor key technical levels and wait for a clearer directional breakout.

Risk Warning: The above content is for informational purposes only and does not constitute investment advice or trading recommendations. Markets involve risk, and investors should exercise caution and manage their risk accordingly.

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