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Reserve Bank of Australia Governor: The budget has not increased demand more than we expected; the budget impact may not differ much from expectations

BlockBeats news, on June 4, analyst Maartunn cited CryptoQuant data, stating that the current Bitcoin fund market premium has reached -5.9%, the lowest level in two years. This means that Bitcoin ETFs such as IBIT and GBTC are currently trading at a 5.9% discount to their net asset value (NAV). This indicates that market demand for exposure to these funds has significantly weakened compared to the value of their underlying holdings.

(1) Data shows that trading volume in India's money market has surged to a record high, mainly because state-owned banks have intensified lending to meet strong credit demand. (2) According to analysis by the Indian Clearing Corporation, another driving factor is that in May, private banks unusually shifted from net borrowers to lenders. In the triparty repo segment, which accounts for about 70% of the money market, trading volume climbed to a record high of 5.5 trillion rupees ($57.8 billion) on May 13 and has remained elevated since then. (3) However, the scramble for funds in recent weeks has pushed up overnight lending costs and short-term bond yields, highlighting the ongoing difficulties banks face in attracting deposits as household savings flow into other investment products.