News

On June 6, according to two informed sources, SpaceX's IPO has secured approximately $150 billion in subscription funds from investors, reaching twice the planned fundraising amount. As the largest IPO in history, the enthusiasm for subscriptions has been remarkable. The sources indicated that the project is still in the early marketing phase, and large institutional funds typically submit orders only at the end of the IPO subscription period. The current statistics reflect only intended subscriptions and not the final allocation amounts; the actual allocation will be determined during the pricing stage. (Jinshi)

BlockBeats News, June 6th, according to LookIntoChain data, "Big Brother Whale" Huang Licheng was liquidated 10 times within 8 hours. The account currently holds only $52,000. He had just increased his long position to 1075 ETH (approximately $1.71 million), with a new liquidation price of $1560.81.

BlockBeats News, June 6th. The first May non-farm payroll report from the Washington Age came in well above expectations, making a near-term rate cut highly unlikely. Market consensus has shifted to expecting a rate hike, with CME's FedWatch tool indicating a probability of over 67% for a Fed rate hike by December this year. The U.S. stock market suffered a heavy blow, led by AI and semiconductor stocks. According to data from Bitget, the U.S. stock market closed on Friday with the Dow Jones Industrial Average down 1.35%, the S&P 500 down 2.65% (ending a 9-week winning streak), and the Nasdaq down 4.18%. Notably, the S&P 500 marked its largest single-day decline since October 2025, and the Nasdaq saw its biggest single-day drop since April 2025. Most semiconductor stocks fell, with the Philadelphia Semiconductor Index plunging by 10% at the close, marking the largest single-day drop since April 2025. Nvidia fell over 6%, TSMC dropped by 6.68%, Broadcom fell by nearly 8%, and Intel dropped by over 11%. Bonds, gold, and cryptocurrencies were not spared. The yield on the 10-year U.S. Treasury note rose by 7 basis points to 4.54%. Spot gold fell by around 3.5%, breaking below $4320 per ounce and erasing all gains for the year. In the cryptocurrency space, according to an exchange market data, Bitcoin briefly fell below $60,000, marking the first time it has dropped below this level since October 2024. It is currently trading at $61,268, with a 24-hour decline of 3.3%. Ethereum dropped below $1600, with the current price at $1593, representing a 24-hour decline of 9.46%. Over the past 24 hours, there have been liquidations totaling $1.829 billion, including $1.457 billion in long liquidations and $0.372 billion in short liquidations. In a midterm election year, June is historically the worst-performing month for the U.S. stock market, often referred to as the traditional "June curse." Investors widely anticipate the market may soon enter a short-term consolidation phase. Furthermore, looking at historical returns, Bitcoin's performance in June has been lackluster. Since 2013, Bitcoin has, on average, seen a return of -0.14% in June, second only to September's -3.08%, making it the second-worst month of the year in terms of performance. The median return is 2.2%, weaker than most months overall. Earlier, Bank of America warned that the current structure of the U.S. stock market bears striking similarities to the late-stage of the 2000 dot-com bubble, urging investors to be cautious of risks in the late bull market and gradually shift to defensive positioning. Data shows that while the S&P 500 hit a historic closing high on the last trading day of May, only 20 constituent stocks simultaneously refreshed their all-time highs, with the majority concentrated in AI and semiconductor-related sectors. In March 2000, at the peak of the dot-com bubble, only about 20 stocks hit new highs as well.