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4E: BTC slightly retraced, Cathay obtaining a license is positive for market structure

ChainCatcher message, according to 4E observations, as of June 27, 2025, 4:00 PM (UTC+8), Bitcoin (BTC) is currently priced at $107,328, fluctuating in the range of $108,084 to $106,708 over the past 48 hours. The overall technical outlook is neutral; although volatility has slightly narrowed, there is still no clear breakout trend. Major cryptocurrencies are performing steadily, with Ethereum (ETH) hovering around $2,430, while Solana and Cardano have dropped about 2%. The total market capitalization of the crypto market has slightly decreased, with investors returning more to mainstream assets and tending to adopt a wait-and-see approach.On June 24, Guotai Junan International was approved to upgrade its securities trading license to provide virtual asset trading and consulting services. This is the first Chinese-funded brokerage to receive such an upgrade, and its stock price surged nearly 200% in response. This licensing move provides a model for traditional financial institutions to enter the crypto market and enhances confidence in industry compliance.The latest report emphasizes that while crypto assets have the potential to improve cross-border payments and liquidity, they have not yet entered the realm of central bank reserve assets. This statement serves as a reminder to the market that although crypto assets have potential, it will take time for them to be widely recognized as sovereign reserves.The concentration of leverage has put pressure on short-term volatility due to the expiration of a large number of BTC/ETH options, with "Crypto.ro" noting that these options are concentrated around the price "pain point" of $102,000. Meanwhile, Federal Reserve officials mentioned that interest rate cuts need to wait for data support, which continues to put pressure on risk assets in the short term.Overall, the market over the past 48 hours remains influenced by regulatory advancements, macroeconomic data, and geopolitical factors. In the context of compliance processes and institutional entry, the crypto market may experience short-term fluctuations, but the structural driving momentum for the medium to long term continues to grow. 4E reminds investors: short-term volatility is increasing, please pay close attention to regulatory changes and the impact of options expiration, and be sure to control positions and set reasonable stop-losses.

The cryptocurrency sector has stabilized slightly, with BTC and ETH experiencing narrow fluctuations

ChainCatcher message indicates that, according to SoSoValue data, the U.S. stock market is closed, and the tense situation in the Middle East has heightened market watchfulness, leading to a slight stabilization and rebound in the crypto market. Bitcoin (BTC) rose 0.24% in 24 hours, fluctuating around $104,000. Ethereum (ETH) increased by 0.64%, maintaining above $2,500. Additionally, the PayFi sector rose by 0.54%, with eCash (XEC) and Bitcoin Cash (BCH) increasing by 5.46% and 8.58%, respectively.Other notable sectors include: the Layer1 sector rose 0.42% in 24 hours, with TRON (TRX) and Solana (SOL) increasing by 0.73% and 0.96%, respectively; the RWA sector rose 0.34%, with Pendle (PENDLE) and Plume (PLUME) increasing by 3.94% and 6.63%, respectively; the CeFi sector rose 0.18%, with Gate (GT) and OKB increasing by 7.39% and 10.63%, respectively.Furthermore, the DeFi sector fell 0.17% in 24 hours, but Uniswap (UNI) rose by 3.73%; the Layer2 sector decreased by 0.20%, while Mantle (MNT) rose again by 3.32%; the Meme sector fell by 0.42%, and the AI sector decreased by 1.64%, but Fetch.ai (FET) rose by 2.09% in 24 hours due to factors such as the Fetch Foundation announcing a $50 million FET token buyback.The crypto sector indices reflecting historical market trends show that the ssiPayFi, ssiLayer1, and ssiMAG7 indices rose by 0.73%, 0.51%, and 0.42%, respectively, in 24 hours.
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