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Market data shows that ZEC has fallen below $260, currently priced at $270.13, with a 24-hour decline of 53.76%. The market is highly volatile, so please ensure proper risk management.

According to Golden Ten Data on June 5, based on a report by RHB analyst Joseph Chai, the bearish technical pattern of Comex gold futures remains intact from the daily chart perspective. The analyst stated that although the latest bullish candlestick pattern indicates that selling pressure is “slightly pausing,” the overall technical pattern remains bearish. Chai pointed out that the market should pay attention to the fact that futures prices are still below the 20-day and 50-day simple moving averages.

BlockBeats news, on June 5, Fundstrat strategist Tom Lee stated in an interview with CNBC that the current market may be in a cycle composed of three stages. As a well-known bullish analyst on Wall Street, Tom Lee has accurately grasped the rhythm of past bull markets several times in recent years, but he believes this round of the market will not continue to rise without interruption. As of early June, the S&P 500 index has risen nearly 11% this year, despite challenges such as controversies over artificial intelligence prospects and inflationary pressures caused by rising energy prices during this period. Lee believes that better-than-expected corporate earnings are the core driving force behind the market's rise. Previously, the market expected first-quarter earnings per share (EPS) to be around $70, but the actual result was close to $80. If this trend continues, the full-year EPS could potentially increase by about $40, which in theory could provide the S&P 500 index with an additional upside of 800 to 1,000 points. He expects the market is still in the first phase of the uptrend, and that based on the S&P 500’s position slightly above 7,560 points in early June, there is still room for it to rise further to about 7,700 points in the short term. However, Lee expects the second stage may arrive soon and last until around October, serving as the market’s “digestion period.” He pointed out that the policy uncertainty brought by the new Federal Reserve chair, energy supply shocks, and IPOs and unlockings of popular companies such as SpaceX, OpenAI, and Anthropic may increase the supply of stocks to the market and put pressure on prices, even leading to corrections similar to a bear market. But he believes this stage will gradually end after the U.S. midterm elections, and the market is expected to regain momentum, with 2027 potentially becoming “one of the best years experienced by this generation of investors.”