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On June 4, according to Bitget market data, U.S. cryptocurrency concept stocks continued to decline in pre-market trading. Specifically, MSTR fell by 1.19%; an exchange dropped by 1.38%; CRCL decreased by 0.80%; SBET fell by 2.53%; BMNR declined by 2.31%; HOOD dropped by 2.75%; and PURR saw a significant decline of 8.29%.

⑴ Data released by the European Central Bank on Thursday show that financial institutions did not borrow any funds through the overnight lending facility, with usage at zero, compared to 1 million euros on the previous trading day. Meanwhile, usage of the overnight deposit facility rose to 2,221.687 billion euros, higher than the previous trading day’s 2,196.400 billion euros. ⑵ Current account holdings stand at 169.058 billion euros, a slight decrease from 172.594 billion euros on the previous trading day. The size of the deposit facility far exceeds that of the lending facility, reflecting financial institutions’ preference to park excess liquidity at the European Central Bank to earn returns rather than lending it out or taking on credit risk. ⑶ From a trading sentiment perspective, the zero demand for overnight lending combined with the continued growth of deposit holdings indicates that market participants are actively shrinking their balance sheets and have a strong preference for holding cash. Coupled with global trade concerns triggered by Trump’s tariff comments, funds are opting to stay on the sidelines rather than being allocated to risk assets, and the market as a whole remains defensive.

Challenger Data Company: The total number of layoffs in the United States reached 97,006 in May, marking the highest figure for the month of May since 2020.