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⑴ Poland’s industrial output in May increased by 4.1% year-on-year, higher than analysts’ expectations of 2.8%. Strong performance in the mining sector and rising public investment were the main driving factors. The Polish economy has remained relatively resilient amid regional uncertainty. ⑵ Bank Pekao analysts said the reading reflects robust growth in investment-related sectors such as metals, products from non-metallic mineral raw materials, and transport equipment. Poland’s industry has maintained high resilience to global turbulence largely thanks to domestic growth engines. ING analysts noted that Poland’s investment in the defense sector will continue to support industrial activity. ⑶ ING stated in its report that the relative resilience of domestic industry in the face of shocks to commodities caused by the Hormuz Strait blockade, sluggish German economy, and increasing competitive pressure from China remains a positive factor.

BlockBeats news, on June 19, CryptoQuant founder Ki Young Ju posted on social media stating that the biggest risk currently facing Bitcoin is not a steep price drop, but a prolonged sideways market resulting in "boring conditions." He believes that even without sharp pullbacks, this environment could gradually weaken market narratives and investor confidence, which in turn would impact demand and institutional premium structures. He further stated that the capital operation model represented by Michael Saylor’s STRC structure faces its real pressure not from short-term declines, but from extended stagnation. Without a supporting narrative of price increases, MicroStrategy (MSTR)'s market premium may be compressed, making continued financing and coin acquisition strategies more challenging. He emphasized that the core driving force of each Bitcoin cycle is always the narrative updates around the "uplift logic," rather than just price performance. He recalled that over the past decade, Bitcoin has achieved key milestones such as ETF approvals, institutional entry, and becoming a "strategic reserve asset," but the original "free currency" and "cypherpunk vision" are being diluted. He believes that although the trend of long-term capital flows remains intact, Bitcoin currently lacks a new narrative center strong enough to unify market confidence, which could become a key variable for the next stage of the market.

(1) The Reserve Bank of India announced on Friday that the government fully completed its target of 320 billion rupees in Thursday's government bond auction. The 6.03% 2029 bond had a cut-off price of 99.52 rupees, corresponding to a yield of 6.2300%, with the entire amount fully subscribed for this maturity.(2) The 6.68% 2033 bond had a cut-off price of 99.69 rupees and a yield of 6.7373%. The 7.24% 2055 bond had a cut-off price of 97.10 rupees, with a yield of 7.4847%. The 7.50% sovereign green bond (maturing in 2056) had a cut-off price of 100.52 rupees and a yield of 7.4551%. All maturities were fully sold.