News

BlockBeats News, June 2nd. The focus shifted from a simple US-Iran negotiation progress to a deeper strategic power struggle. The US is reportedly asking Oman, which has long maintained neutrality, to clearly side with either the US or Iran, even requesting to cut off diplomatic relations with Iran. Meanwhile, Iran has again signaled a hardline stance by threatening to block the Strait of Hormuz and the Bab el-Mandeb strait. Although Trump has mentioned that an agreement could be reached within a week, there is still a significant discrepancy between the US and Iran regarding the content of the agreement, indicating that regional risks have not been eliminated. Another key development comes from Japan. Despite the Japanese government's record-breaking intervention in the forex market of ¥11.73 trillion in a single month, the yen is once again approaching the 160 mark, with the Finance Minister reiterating the possibility of intervening again at any time. This highlights the dual pressure that major global economies are facing in terms of capital flows and exchange rate stability, reflecting the continued strong demand for US dollar assets in the market. Meanwhile, OPEC+ may increase production by 188,000 barrels per day, Alphabet is planning an $80 billion fundraising, and NVIDIA is set to launch a new AI chip by the end of the year, indicating that energy supply, capital markets, and AI investment cycles are still progressing in sync. The current market has entered a phase where the three main themes of "geopolitics, energy supply, and tech capital expenditure" are intersecting. On the cryptocurrency market front, investors are focused on global funding costs and changes in risk appetite. If the risk in the Strait of Hormuz continues to escalate, it could further impact energy prices and inflation expectations. Conversely, if there is a breakthrough in US-Iran negotiations, market risk appetite is expected to improve. In the short term, the cryptocurrency market will continue to be repriced based on global liquidity and geopolitical risk changes.

Bank of Japan: One participant stated that the Bank of Japan should reduce its bond purchase scale by 100 billion yen each quarter, thus the monthly bond purchase pace will slow to about 1.7 trillion yen.

Bank of Japan Investors Meeting Minutes: One participant stated that there is little need to further reduce the scale of bond purchases.