中东能源供应风险推升油价与通胀预期，布伦特原油一度突破 100 美元，美国 10 年期国债收益率升至 4.70% 附近，成长股承压，NASDAQ 周跌约 2.1%。加密市场相对抗跌，BTC 高位震荡，ETH 受资金轮动支撑表现较强。BTC 现货 ETF 周净流入降至约 0.34 亿美元，ETH 现货 ETF 连续第三周净流入，机构资金转向结构性选择。

BTC and ETH rose 1.48% and 3.62% respectively, with ETF flows returning to net inflows overall, and ETH seeing more pronounced capital reflow. Gate TradFi weekly trading volume recovered to approximately USD 90 billion, with both U.S. equities and ETF allocation ratios rising simultaneously. Robinhood Chain has shifted market attention from Solana Meme to the "RWA + Tokenized Stocks + Meme" narrative.

加密市场维持震荡修复，BTC、ETH 小幅收涨，ETF 资金由净流出转为净流入。Gate Stocks 交易结构持续多元化，韩国股票快速成为成交主力。Robinhood Chain Meme 叙事带动 Uniswap 交易量显著放大。Lido、Aave 等以太坊生态协议持续受益于 RWA、稳定币及机构资金流入。

In June, global capital markets shifted repeatedly between high interest rate constraints, easing geopolitical tensions, and cooling risk appetite, resulting in a pattern of intensified volatility alongside structural divergence. U.S. equities moved from the earlier AI-driven one-sided rally to a high-level rebalancing phase, with AI leaders and semiconductor sectors experiencing notable pullbacks while defensive assets such as healthcare performed relatively better. Institutional capital showed a preference for reducing high-volatility exposure and allocating toward assets with more reasonable valuations and stronger earnings certainty. Against this backdrop, Gate emerged as Polymarket's largest weekly distribution channel.

With the continuous inflow of ETFs, RWAs, and institutional capital, crypto assets are gradually integrating into the traditional financial system. Wall Street is not unilaterally "taking over" crypto; instead, a two-way integration with the crypto ecosystem is underway. Gate and Robinhood represent two distinct development paths moving towards each other, both ultimately aiming to create a unified, comprehensive financial account. RWA and tokenized U.S. Treasury bonds are becoming the asset-layer infrastructure connecting TradFi and Crypto.

ในเดือนมิถุนายน 2026 ตลาดคริปโทเคอร์เรนซีไม่สามารถสานต่อโมเมนตัมการฟื้นตัวจากเดือนพฤษภาคมได้ โดย BTC และ ETH ปรับตัวลดลงมากกว่า 20% ในรอบเดือน ขณะที่สินทรัพย์หลักอย่าง BNB, XRP, DOGE, ADA ต่างก็เผชิญแรงกดดันเช่นกัน จากโทเค็น 500 อันดับแรก พบว่า 70.99% ปรับตัวลดลง โดยกลุ่ม Top 1–100 มีค่าเฉลี่ยการลดลง -8.35% และกลุ่ม Top 401–500 มีค่าเฉลี่ยการลดลง -11.09%

The crypto market continued its weak adjustment in June. BTC and ETH experienced a rapid decline at the beginning of the month before entering a low-level recovery. A mid-month rebound failed to resume an upward trajectory, and prices fell again at the end of the month, with the overall market price center continuing to shift downward. Open interest in the futures market continued to decrease, long liquidation volumes were significantly higher than shorts, and funding rates remained generally neutral, indicating that the price decline primarily reflects a simultaneous weakening of spot selling pressure and risk appetite. The market frequently shifted from narrow-range consolidation to directional expansion, making it more suitable for trend-following and breakout confirmation strategies.

The easing of tensions in the Middle East has driven a retreat in oil prices, with the market's trading logic shifting towards "the Fed maintaining higher interest rates for longer." The NASDAQ fell approximately 3.3%, while BTC and ETH dropped around 6.9% and 9% respectively; BTC and ETH spot ETFs saw significant net outflows. On-chain capital continues to concentrate on high-turnover trading scenarios, with PumpSwap becoming the biggest incremental gainer this week. DeFi liquidity maintains a defensive posture, with the stablecoin, LST, and lending markets generally cautious.

Risk appetite in the crypto market is recovering, with BTC up approximately 6.8% WoW and ETH up approximately 12.2% WoW. Gate TradFi weekly trading volume remains elevated at around $85 billion, with US stock trading volume increasing for five consecutive weeks and hitting a new cyclical high. DEX trading structures continue to diverge, with trading volumes on Uniswap and PancakeSwap declining, while PumpSwap maintains high growth. The LST sector is also recovering in tandem, with ETH and SOL staked assets rebounding alongside improved risk appetite.

Last week, global markets traded around the Fed's hawkish signals, with both BTC and ETH falling over 4%. The overall trend of ETF capital outflows remained unchanged. Gate TradFi Perp trading stayed active, with coverage of US stock assets continuing to expand. DEX trading volumes showed divergence, with Uniswap slightly overtaking PancakeSwap, and the Solana ecosystem saw a recovery in trading activity. There was no significant new dollar inflow into stablecoin supply, with capital primarily rotating among existing assets.

Last week, BTC, ETH, and the broader crypto market experienced a "decline followed by a rebound" reversal pattern. ETF fund flows showed significant improvement. Over the past week, Gate TradFi Perp's daily trading volume exceeded $500 million on multiple occasions, with the proportion of stock trading volume notably increasing compared to the previous period. DEX trading volumes generally fell compared to the previous week. The LST sector rebounded alongside ETH and SOL price recoveries. Aave's lending scale stabilized and recovered, with borrowing rates remaining low and USDC funding pressures easing.

In May, global capital markets continued their recovery overall. The U.S. stock market rose steadily, driven by the AI narrative, corporate earnings resilience, and improved risk appetite, with the tech and semiconductor sectors performing particularly strongly. Meanwhile, structural divergence in the market remained evident, with capital flowing more concentratedly towards core assets backed by deterministic growth and real performance. Against this backdrop, Gate officially launched a real stock trading service, further bridging the allocation channel between crypto assets and traditional financial markets, providing users with a one-stop multi-asset trading portal covering crypto assets, U.S. stocks, and ETFs.

Last week, the global macro market experienced a dramatic shift from "heating sentiment" to "rapid reversal." Bitcoin fell approximately 15% for the week, while Ethereum dropped around 22%. The asset count on Gate's US stock trading platform expanded rapidly following its launch. DEX trading saw a clear recovery, with trading volumes increasing on major protocols like Uniswap, PancakeSwap, and Aerodrome; the LST sector declined overall, Aave's lending scale continued to decrease, and new demand primarily flowed towards emerging ecosystems like MegaETH.

The market repriced Fed rate hike expectations, keeping the crypto market under pressure. BTC fell approximately 4.3% WoW, while ETH fell about 4.8% WoW. Global crypto ETPs saw net outflows for the second consecutive week, totaling $2.54 billion. Gate officially launched stock trading services, supporting over 10,000 US stocks and ETFs. PancakeSwap trading volume surpassed Uniswap. The LST sector cooled down, while the SOL ecosystem performed relatively steadily.

Over the past week, the market continued to fluctuate amid the US-Iran negotiations and expectations for Fed policy. Expectations of geopolitical easing initially pushed oil prices lower, but US bond yields rose to around 4.56%. US equities showed divergent gains, while the crypto market remained generally weak. BTC ETFs saw a net outflow of approximately $1.256 billion for the week, and ETH ETFs saw a net outflow of about $216 million, with institutional capital maintaining a cautious stance.