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Glonghui, June 4 — Goldman Sachs: The 12-month target price for the MSCI Emerging Markets Index has been raised from 1,850 points to 2,000 points. It is forecasted that the earnings of the MSCI Emerging Markets Index will increase by 55% in 2026, higher than the previous estimate of 45%. It is predicted that the earnings will grow by 20% in 2027, higher than the previous forecast of 19%.

BlockBeats News, June 4th, CryptoQuant founder Ki Young Ju posted on social media today, noting that two years ago and now, the price of Bitcoin was the same, but one thing has changed. The "6-month to 2-year" holder group who entered this cycle currently holds 53% of the realized market cap, compared to only 15% two years ago. In the previous cycle, Bitcoin bottomed out when this proportion reached 68%. Currently, short-term holders are gradually transitioning to long-term holders.

```htmlGolden Ten Data reported on June 4 that options traders are increasing their hedges against large yen fluctuations over the next two weeks, preparing for the Bank of Japan's policy meeting and potential foreign exchange intervention by authorities to support the yen. The two-week USD/JPY butterfly option spread has risen to its highest level since October 2022, with the widening spread indicating mounting concerns about significant volatility in this currency pair. Despite Japan's record-breaking spending from April 28 to May 27 to support the yen, the currency remains under pressure, heightening speculation that authorities may intervene in the market again. Investors are also focusing on the Bank of Japan's June 15-16 meeting for clues on policy direction, as the substantial interest rate gap between the US and Japan continues to weigh on the yen. Moh Siong Sim, FX strategist at OCBC Bank Singapore, stated that with USD/JPY testing the 160 mark, the risk of intervention is undoubtedly the most closely watched issue.```