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BlockBeats News, June 16th, Wintermute stated in the latest market weekly report that the rebound in risk assets was mainly driven by two major positive factors. First, the US May CPI increased by 4.2% year-on-year. Although it has accelerated for the third consecutive month and hit a new high since 2023, the data overall met market expectations, alleviating investors' concerns about inflation spiraling out of control. At the same time, the core CPI fell to 2.9%, indicating that the inflationary pressure from energy prices may be approaching its peak, rather than spreading further into the service sector and wage growth. Secondly, the over 100-day Iran conflict has been announced to be over, with US President Trump approving the resumption of navigation in the Strait of Hormuz and lifting the maritime blockade. The formal agreement is expected to be signed in Switzerland on June 19th. With the rapid dissipation of geopolitical risk premiums, the Brent crude oil price has dropped from around $110 to the $80 range, falling another 6.6% this week. Meanwhile, the US dollar index and US bond yields have simultaneously declined, further improving market risk appetite. Looking at the cross-asset performance, the market is showing a clear "risk-on sentiment return" feature. The Russell 2000 Index rose by 4.0%, the Nasdaq Index rose by 2.3%, the total market capitalization of altcoins rose by 3.1%, while oil, which had previously shown strength, became the worst-performing asset. Wintermute believes that the market's current main focus is turning to the upcoming Federal Reserve interest rate meeting. The 4.2% overall inflation level supports a policy stance of "maintaining higher rates for longer," while the fall in core inflation and oil prices suggests that the current inflation pressure may be temporary. The market generally expects that this meeting will not adjust interest rates, so the dot plot, economic forecasts, and newly appointed Chair Powell's first press conference will be key factors in deciding the market's direction for the second half of the year. Regarding the crypto market, Wintermute believes that the recent rebound is more of a risk asset sentiment recovery rather than the start of a new uptrend. The report points out that two weeks ago, Bitcoin saw a 14% decline in a single week, not due to the widely believed "Strategy selling 32 BTC," but influenced by factors such as escalating inflation concerns, strong non-farm payroll data, and the loss of momentum in the rebound rally from $60,000 to $83,000. While Bitcoin rebounded this week and altcoins rose, Ethereum continued to decline against the trend, maintaining a relatively weak performance. Wintermute states that the true turning point of the market is not the price but the flow of funds. Currently, there are no significant signs of improvement in stablecoin net inflows, spot ETF fund flows, and the size of digital asset treasuries, so it is still too early to determine that the market has bottomed out. In their view, the future will require observations of continuous ETF fund inflows, renewed stablecoin issuance, and institutional funds re-entering the market to confirm the start of a new uptrend in the crypto market.

Glassnode data shows that retail and whale groups have accumulated more than 250,000 Bitcoin in the price range between $59,000 and $67,000, with the accumulation trend score reaching its highest level since the current correction began.

BlockBeats News, June 16 — Ventuals announced yesterday that it is officially shutting down and merging with another team within the Hyperliquid ecosystem, marking the end of its “all-weather on-chain private placement market” experiment. According to BlockBeats data and DeFiLlama’s revenue criteria, Ventuals platform revenue amounted to only $124,651, while ticker registration and auction costs reached as high as $383,242 (equivalent to 15,031 HYPE), resulting in a book net loss of $258,591. Revenue only covered 32.5% of ticker costs, with costs approximately 3.1 times higher than revenue. If further considering hidden expenses such as team compensation, market making, and front-end operations, the actual loss would be even larger, with the core conclusion being a loss of about $259,000. It is worth noting that the 500,000 HYPE principal raised through the vHYPE crowd funding and its price appreciation are not counted towards platform profit, since holders can redeem HYPE 1:1 and receive on-chain staking yields, and therefore cannot be regarded as a source of platform profit. In terms of operational achievements, Ventuals operated for roughly seven months, raising over 500,000 HYPE and seeing total trading volume of about $650 million. The platform was previously known for allowing users to trade risk exposure for private tech companies such as OpenAI and Anthropic before their IPOs. According to the closure announcement, OpenAI’s market settled at a final price of $1,341.80, Anthropic at $1,618.90, and commodity/index markets (MAG7, semiconductors, energy, defense, etc.) will be suspended in batches starting June 18. vHYPE holders may redeem staked assets and on-chain staking yields at a 1:1 ratio, with the withdrawal process being batch processed starting June 19 and taking approximately 7 to 72 hours. Ventuals also confirmed the termination of its points and referral programs, and clearly stated it will not issue any tokens. All users must complete fund withdrawals and wallet exports by September 15.