News

On June 19, spot silver fell below $65 per ounce for the first time since June 11, with a daily decline of 1.05%. (Jin Shi)

According to Odaily, based on SoSoValue data, on June 18th (EST), the daily net inflow into SOL spot ETF was $2.9895 million. Yesterday, only the Bitwise Solana Staking ETF (BSOL) saw a net inflow, with a daily net inflow of $2.9895 million, and the current historical total net inflow has reached $892 million. As of press time, the total net asset value of SOL spot ETFs is $794 million, with the SOL net asset ratio at 1.96%, and the historical cumulative net inflow has reached $1.131 billion.

ChainCatcher news, on-chain analyst Murphy stated that long-term holder (LTH) net holdings have reached another all-time high. As of June 17, LTH net holdings stood at 14.96 million BTC, an increase of 20,000 compared to the peak on March 27. This is also the second time since BTC entered a bear market that LTH net holdings have set a new record. More and more BTC is no longer willing to participate in short-term speculation and turnover; chips held by LTH now account for 75% of the total circulating supply. According to Murphy, historically, the bottom of each bear market has usually appeared after LTH net holdings begin to rise—first comes a “recovery in holdings,” then a “bottom is formed.” In the previous cycle, LTH net holdings hit a record high three times, each followed by strong distribution, corresponding to the periods when the Federal Reserve signaled rate hike expectations, the Luna crash, and the FTX collapse. In the current cycle, this is the second record high. Murphy believes the key is not how many record highs are made, but whether the distribution scale by LTH shows an obvious downward trend. If the current distribution is lower than the previous one, it indicates that selling pressure is gradually drying up, suggesting the real bottom of the bear market has either already formed or is not far off.