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The Weekly Report is our summary of key indicators and recent events in the crypto world that professional traders are closely monitoring. This report and other relevant information are first shared via the official [League of Traders Telegram channel](https://t.me/leagueoftraders_official).

Here are our notes for the first week of June!

 1. **Bitcoin Chart/Ethereum Chart**

Bitcoin recorded an all-time high of $111,980 last week but has since corrected, falling under $105,000. As of June 5, the daily chart shows it positioned below the 7-day and 25-day moving averages (MA7, MA25), indicating a short-term bearish trend. However, the 99-day moving average (MA99) continues to rise, maintaining a mid-to-long-term uptrend.

Spot Bitcoin ETF inflows remained stable through late May, but no significant inflows have been observed in early June, contributing to the slowdown in upward momentum. Investors should closely monitor ETF inflow trends and the defense of the technical support zone between $103,000 and $104,000. Overall, the market appears to be in a pullback phase following the new high, and it is expected to remain sensitive to incoming institutional capital and economic indicators.

![BTCUSDT Chart (Binance)](https://cdn-images-1.medium.com/max/2000/0*bWeXJnOK91vxQVFY.png)

![Spot Bitcoin ETF flows (The block)](https://cdn-images-1.medium.com/max/2000/0*qO1AjTcaqjRzYFGk.png)

This week, Ethereum continues to trade sideways around $2,600 without clear upward momentum. After a strong rebound in mid-May that pushed it to $2,788, it has since corrected and is currently searching for direction above the 7-day and 25-day moving averages. Trading volume has gradually decreased following the surge, indicating a stronger wait-and-see sentiment in the market.

Spot Ethereum ETF flows remain relatively subdued compared to Bitcoin, with small-scale net inflows and outflows alternating without a clear trend. This suggests the market is opting for caution amid uncertainty rather than expanding real demand.

![ETHUSDT Chart (Binance)](https://cdn-images-1.medium.com/max/2000/0*3UZ9giPI8ZoMHFBS.png)

![Spot Ethereum ETF flows (The block)](https://cdn-images-1.medium.com/max/2000/0*w-4OcjcFiKNR2UpC.png)

This week, Bitcoin dominance (BTC Dominance) is fluctuating slightly around 64.1%, showing a sideways trend. After a sharp drop in mid-May, it quickly recovered and entered a 64–65% consolidation range, indicating that despite Bitcoin’s new high, significant capital has not flowed into the altcoin market. Bitcoin-centric investor sentiment remains dominant, and this preference for Bitcoin is expected to continue in the short term.

![Bitcoin dominance chart (CoinMarketCap)](https://cdn-images-1.medium.com/max/2000/0*FTk9RnKf2mKm-H7M.png)

**2. Major Economic Indicators**

* US Bond Yields

In the first week of June 2025, the U.S. 10-year Treasury yield closed at 4.37%, fluctuating between 4.36% and 4.37% during the week. After a sharp decline last week, it attempted a rebound but failed to break through the 4.5% resistance, entering a sideways phase. In the short term, support is being confirmed around 4.3%, and as long as it does not break above 4.5%, a favorable environment for cryptocurrencies and tech stocks may persist.

![US10YPrice Government Bond Rate (TradingView)](https://cdn-images-1.medium.com/max/2000/0*3JFYSop3Ip5okkzH.png)

* US Dollar Index

In the first week of June, the U.S. Dollar Index (DXY) closed at 98.8, continuing its bearish trend. It has failed to recover the 99 level and is consolidating in the mid-98 range, repeatedly facing strong resistance during rebound attempts since April. This is attributed to the Federal Reserve’s likelihood of maintaining its rate freeze and mixed U.S. economic data constraining dollar strength. Additionally, growing expectations of relative monetary easing compared to major currencies like the Euro and Yen are sustaining downward pressure on the dollar.

![US Dollar Index (TradingView)](https://cdn-images-1.medium.com/max/2000/0*7ZKnIlh1x0g5mvyK.png)

* US100 (Nasdaq 100)

As of the first week of June 2025, the Nasdaq 100 (US100) is trading at 21,700, continuing a strong uptrend close to its all-time high. It has maintained a steady rebound since its April low, attempting to break through short-term highs, with the previous high of 22,000 in sight. Technically, it sustains a structure of rising lows and highs, supported by stable trading volume, enhancing the reliability of the uptrend. Market drivers include expectations of the Federal Reserve maintaining rates, solid tech sector earnings, and optimism around AI-driven growth. However, investors should remain cautious of short-term volatility due to upcoming economic data releases and tariff negotiation events scheduled for next month.

![US100 (TradingView)](https://cdn-images-1.medium.com/max/2000/0*jU3-1lKVukEkQATx.png)

* Gold Futures

In the first week of June 2025, gold futures prices are trading at $3,370 per ounce, continuing a strong uptrend. Since March, it has repeated cycles of corrections and rebounds, consistently raising highs, and has recently been moving within a $3,300–$3,400 range. The rise in gold prices is driven by expectations of U.S. rate cuts, global economic uncertainty due to U.S. tariff policies, and safe-haven demand amid geopolitical risks. Notably, slowing U.S. inflation and a weaker dollar are key factors supporting gold’s rise. In the short term, the market is in a tug-of-war phase for breaking previous highs, and further strength could emerge if rates pivot downward or geopolitical risks escalate. As both gold and Bitcoin serve as inflation hedges, their simultaneous rise could be a positive signal for the crypto market.

![Gold Futures (TradingView)](https://cdn-images-1.medium.com/max/2000/0*-ZugBopa_t04B81H.png)

**3. Bitcoin Market Data**

* MVRV Z-score

The MVRV Z-Score dropped from last week’s high of 2.9 to 2.4, suggesting the market is moving away from the overheated zone and that short-term profit-taking may be occurring, warranting caution.

*Indicator Explanation*: The MVRV Z-Score measures the difference between Bitcoin’s market cap and realized cap, divided by standard deviation, offering insight into whether Bitcoin is over- or undervalued. A score below 0 indicates significant undervaluation, while the overheated zone during the 2021 all-time high exceeded 6.

![Bitcoin: MVRV Z Score (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*CfmrLhj5Q1n8Wf88.png)

* aSOPR

The aSOPR remains consistently above 1, indicating ongoing profit realization. With the daily metric staying above 1 for the past week, the bullish market trend is considered intact.

*Indicator Explanation*: SOPR (Spent Output Profit Ratio) divides the price of Bitcoin at the time of spending by its price when received. A value below 1 suggests a bear market, while above 1 indicates a bull market. aSOPR refines this by filtering out insignificant transactions within an hour, providing a more precise metric.

![Adjusted SOPR (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*ESCY5ccgBLCHsGKB.png)

* Open Interest

Bitcoin futures open interest continued to rise but saw a temporary decline last week. The estimated leverage ratio has recently increased, indicating stronger bets on upward movement, but excessive leverage poses a risk of heightened volatility during a downturn.

![Outstanding Open Interests by Exchanges (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*kFEhSjlVlfEEnRV_.png)

![Exchanges’ combined estimated leverage ratio (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*NVRCHmVBTx-6epZD.png)

**4. On-chain data**

* Exchange inflows and outflows

Bitcoin’s net exchange outflows significantly increased again last week, signaling strong buying pressure. This indicates that long-term holders continue to move Bitcoin to external wallets, suggesting low selling pressure.

![Bitcoin: Exchange Net Position Change (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*iyz80yfhDFR_OFw7.png)

* Number of Whale Wallets

The number of wallets holding 1,000+ BTC rose sharply over the past two months but slightly declined last week. Conversely, wallets holding 10,000+ BTC have hit a bottom and are showing a gradual recovery. The accumulation trend among large whales suggests a positive mid-to-long-term outlook, but the sharp decline in mid-sized whale wallets (1,000+ BTC) requires caution.

![Number of Bitcoin wallets holding 10K or more (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*a7ofyUroC2YYEOSS.png)

![Number of Bitcoin wallets holding 1K or more (Glassnode)](https://cdn-images-1.medium.com/max/2000/0*R0A2vBsZN6LVWfl7.png)

**5. Last Week’s Major News**

**MicroStrategy Continues Bitcoin Purchases for 8th Consecutive Week**
MicroStrategy announced the purchase of 705 Bitcoin for $751 million between May 26 and June 1. The company’s total Bitcoin holdings now stand at 580,955, with an average purchase price of approximately $70,023. This marks eight consecutive weeks of Bitcoin purchases, demonstrating the company’s strong confidence in Bitcoin.

**U.S. SEC Drops Lawsuit Against Binance and Changpeng Zhao**
The U.S. Securities and Exchange Commission (SEC) officially dropped its 2023 lawsuit against Binance and CZ. This decision is seen as a signal of easing U.S. crypto regulations and is expected to positively impact the market.

**Robinhood Acquires Bitstamp to Expand Crypto Market Presence**
On June 3, U.S. online brokerage Robinhood announced the completion of its acquisition of European-based crypto exchange Bitstamp. The acquisition aims to strengthen Robinhood’s crypto services for institutional investors and expand its international crypto trading offerings. Following the news, Robinhood’s stock price hit an all-time high.

**6. Major economic events**

**Major economic events last week**

Last week showed positive trends with recovering consumer sentiment, stable inflation rates, and steady employment metrics, but concerns about economic slowdown persist due to negative GDP growth and sharp inventory declines. The Federal Reserve is expected to remain cautious about monetary policy easing as consumption and employment remain resilient, potentially acting as a gradual positive factor for asset markets.

![Major Economic Events for the 5th week of May 2025 (Investing.com)](https://cdn-images-1.medium.com/max/2000/0*eUJRR9q5PUfmtqU8.png)

**This week’s major economic events**

This week’s economic data highlighted a clear slowdown in employment metrics and a contraction in the services sector, which could fuel expectations of Federal Reserve monetary policy easing. However, sustained wage growth and a global monetary easing environment driven by Eurozone rate cuts may provide short-term positive impacts for risk assets. Nonetheless, volatility may increase depending on upcoming U.S. employment data releases.

![Major Economic Events for the 1st week of June 2025 (Investing.com)](https://cdn-images-1.medium.com/max/2000/0*X1Uem7vSSFZajAgR.png)

**Summary**

**Positive Indicators:** aSOPR, increasing 10,000+ BTC whale wallets, sustained exchange net outflows, ongoing Ethereum ETF inflows, Nasdaq 100 strength.

**Negative Indicators:** Declining Bitcoin MVRV Z-Score, decreasing 1,000+ BTC wallets, stagnant Bitcoin dominance.

**Overall Assessment:** The market maintains mid-to-long-term upside potential despite a short-term correction phase. Positive signals include aSOPR’s rise, increasing 10,000+ BTC whale wallets, sustained exchange outflows, Ethereum ETF inflows, and Nasdaq 100 strength. However, the declining MVRV Z-Score, fewer 1,000+ BTC wallets, and stagnant Bitcoin dominance warrant caution. The market appears to be in a phase of preparing for further gains through whale accumulation, and maintaining a spot-focused portfolio while managing risks through partial profit-taking during sudden market shifts is a prudent strategy.