The largest "Triple Witching" day in US stock market history is coming, Bitcoin may continue to consolidate.

The Federal Reserve kept the benchmark interest rate unchanged this week, but the overall stance is hawkish. Officials have differing views on future policy, with 10 expecting at least two rate cuts this year, while 7 believe rates will remain unchanged. Current inflation is close to the 2% target but has not been fully achieved, and economists warn that premature rate cuts could lead to a rebound in inflation.

This Friday, approximately $6.5 trillion of U.S. stock options and derivatives contracts will expire, and this "triple witching day" event may lay the groundwork for market volatility next week. The founder of research firm Asym 500 LLC pointed out that since May, the daily volatility of U.S. stocks has been relatively mild, thanks to the "pinning effect" created by a large amount of put options trading earlier this year. Analysts believe that this expiration date could become one of the largest expiration events in history, and investors should be wary of potential market volatility risks.

A senior executive of a certain group stated at a recent salon event that the virtual asset industry has entered the second growth curve phase, with the industry focus shifting from "digital native," represented by Bitcoin, to "digital twin," represented by stablecoins and asset tokenization. He pointed out that digital twin is the biggest innovation of distributed ledger technology, with stablecoins and asset tokenization being the most representative forms. Stablecoins are essentially the tokenization of currency, possessing both legal and technical attributes, and are considered the optimal form of currency at present, which will play an important role in the future global financial system.

Due to the "Juneteenth" holiday, the US stock market was closed on June 19, and the crypto market has been very quiet, with Bitcoin's price remaining relatively unchanged over the past three days, and liquidations in the past 24 hours totaling less than $100 million. Analysts believe that escalating geopolitical tensions have heightened investors' risk aversion, leading to increased demand for traditional safe-haven assets such as gold and US Treasuries, while demand for risk assets like Bitcoin has declined. At the same time, the Federal Reserve's decision to keep interest rates unchanged has strengthened the dollar, putting pressure on Bitcoin.

On the technical side, the price of Bitcoin is constrained by multiple moving average resistances around $106,000, with market trading volume being sluggish and the relative strength index approaching the midpoint, indicating a strong wait-and-see sentiment in the market. If it breaks through the moving average resistance in the short term, Bitcoin may have the opportunity to challenge the $112,000 high, but the current momentum is insufficient, and it may continue to consolidate.

According to statistics from the data analysis platform, since June, the market selling pressure for Bitcoin has continued. Although the price has recently rebounded, the trading volume remains low, and there is insufficient upward momentum. If demand continues to weaken, Bitcoin may temporarily dip to the support range of $94,000 to $97,000, with the market needing more buying demand to support a breakthrough. Several analysis institutions point out that the market is characterized by low volatility, a narrowing price range, and weakened on-chain activity, with retail participation declining and institutional investors becoming the dominant force.

The current price of Solana is oscillating within the key support range of $140-145, considered a potential trend reversal point. Analysts believe that SOL is testing the golden Fibonacci retracement range of 0.618 to 0.786, an area that has historically been regarded as a strong trend reversal support region. Investors are advised to position long orders in the range of $128-140, with target prices at $204.31, $229.01, and $258.45 respectively. Another analyst stated that if the SOL price breaks below the $140 support, it may trigger an accelerated decline, targeting the $102-103 area. Conversely, if it can break through $160-170 with increased trading volume, it may reverse the current bearish pattern, with upward targets possibly pointing to the $180-$220 range.

In the altcoin market, MEME coin LABUBU has dropped 23% in the past 24 hours, marking three consecutive days of decline, with its market capitalization falling from a recent high of $60 million to $27 million. This drop may be related to the short-term crash in Labubu toy prices. Within the Solana ecosystem, a crypto lawyer proposed the idea of forking Solana and launched an experimental chain called Gorbagana, whose token $GOR once reached a market cap of $40 million. Additionally, some emerging tokens like $YOURSEL and $shiyo also saw their market caps briefly reach around $2.2 million.

In terms of key data, the current price of Bitcoin is $104,658, with a year-to-date increase of 11.46%; the price of Ethereum is $2,520.03, with a year-to-date decrease of 24.9%. The Fear and Greed Index is at 48, indicating a neutral level. In the past 24 hours, a total of 55,924 people have been liquidated globally, with a total liquidation amount of $89.34 million. Bitcoin ETF has seen a net inflow for 8 consecutive days, with an inflow of $390 million on the day; Ethereum ETF has had a net inflow for 3 consecutive days, with an inflow of $1.90998 million on the day.

Today's important events include: a certain trading platform will include holdings points for Lista-related tokens; multiple trading platforms will delist certain trading pairs; Lista DAO and SPACE ID will respectively unlock about 33.44 million and 72.65 million tokens. In terms of the market, attention should be paid to whether Bitcoin can break through the moving average resistance, as well as Solana's performance in the key support range.