比特币（BTC）的价格数据显示出比预期的温和标志，这给风险资产带来了积极的信号。

5月的美国通货膨胀数据显示出比预期的温和迹象，这给风险资产带来了积极的信号。

U.S. inflation data for May showed a milder sign than expected on Wednesday, bringing positive signals to risk assets. Specifically, the unseasonally adjusted Consumer Price Index (CPI) recorded an annual rate of 2.4%, lower than the market's general expectation of 2.5%; the monthly rate was only 0.1%, also lower than the expected 0.2%.

5月的美国通货膨胀数据显示出比周三预期的温和迹象，这给风险资产带来了积极的信号。具体而言，未经季节性调整的消费者价格指数（CPI）的年率为2.4％，低于市场的总预期2.5％；每月的费率仅为0.1％，也低于预期的0.2％。

Core inflation data (excluding volatile food and energy prices) also showed a similar slowdown trend: the annual rate was 2.8%, lower than the expected 2.9%; and the seasonally adjusted core CPI monthly rate was only 0.1%, significantly lower than the market expectation of 0.3%.

核心通货膨胀数据（不包括波动性食品和能源价格）也显示出类似的放缓趋势：年率为2.8％，低于预期的2.9％；而且，经季节性调整的CORE CPI月度汇率仅为0.1％，明显低于市场预期的0.3％。

After the report was released, the crypto market showed a trend of rising first and then falling. #Bitcoin once approached $110,000 during the day, #Ethereum (ETH) rose 3% to $2,834, and XRP rose 1.8% to $2.32. The total market value of cryptocurrencies remained around $3.4 trillion in the past 24 hours.

报告发布后，加密货币市场显示出首先上升然后下降的趋势。 #BitCoin曾经在白天接近$ 110,000，#Ethereum（ETH）上涨了3％至2,834美元，XRP上涨了1.8％，至2.32美元。在过去的24小时内，加密货币的总市场价值仍约为3.4万亿美元。

CoinGlass data shows that as of the time of writing this article, the 24-hour liquidation amount of the entire network reached $300 million, of which Ethereum liquidation amounted to about $100 million and Bitcoin liquidation amounted to about $37 million.

Coinglass数据显示，截至撰写本文时，整个网络的24小时清算量达到3亿美元，其中以太坊清算约为1亿美元，比特币清算约为3700万美元。

Big Whale Movement

大鲸鱼运动

As BTC rose and then fell, on-chain data also observed an increase in whale activity.

随着BTC的增长然后下降，链上数据也观察到鲸鱼活动的增加。

On June 11, the on-chain tracking platform Whale Alert discovered that a large amount of Bitcoin flowed into the US cryptocurrency exchange Coinbase. According to data provided by the tracking platform, in just about two hours, multiple anonymous whales transferred more than 3,165 Bitcoins (worth more than $347 million) to Coinbase through several transactions.

6月11日，链接跟踪平台鲸鱼警报发现大量比特币流入了美国加密货币交易所Coinbase。根据跟踪平台提供的数据，仅在大约两个小时内，多个匿名鲸鱼通过几笔交易转移了超过3165个比特币（价值超过3.47亿美元）。

The largest transaction involved 738 BTC, and the remaining transactions were also large-value anonymous wallet transfers (such as 466 BTC, 464 BTC, 463 BTC, etc.).

最大的交易涉及738 BTC，其余交易也是大价值匿名钱包转移（例如466 BTC，464 BTC，463 BTC，463 BTC等）。

It is worth noting that 510 BTC (worth about $56.1 million) were transferred from Cumberland, a well-known crypto trading company, to Coinbase Institutional, which generally indicates that whales may be trying to sell their tokens. Although the specific reasons for these transfers have not been confirmed, they may also be attempts by whales to rebalance their portfolios. However, considering the large volume and high repetitiveness of these transfers, as well as the participation of Cumberland and others, this is likely to be the action of large players, especially institutions.

值得注意的是，从著名的加密货币贸易公司坎伯兰（Cumberland）转移到Coinbase Institutional，这通常表明鲸鱼可能正在尝试出售其令牌。尽管尚未确认这些转移的具体原因，但鲸鱼也可能试图重新平衡其投资组合。但是，考虑到这些转移的大量和较高的重复性以及坎伯兰郡和其他人的参与，这可能是大型参与者，尤其是机构的行动。

Perhaps affected by the activity of this giant whale, Bitcoin fell below the $110,000 mark at the opening of the day and stabilized around $108,677 as of press time.

比特币也许受到这只巨大的鲸鱼活动的影响，在当天开业时跌至110,000美元低于110,000美元的成绩，截至发稿时，比特币稳定在108,677美元左右。

Trend and technical analysis

趋势和技术分析

Data shows that the current funding rate in the Bitcoin contract market is very stable or low.

数据表明，比特币合同市场的当前筹资率非常稳定或较低。

The author believes that this generally indicates that the current rebound is driven by investors' actual purchases of spot rather than by highly leveraged contract transactions. In the absence of high-leverage positions in the market, the risk of triggering large-scale sell-offs and sharp declines is low, so the currency price is more likely to continue to rise.

作者认为，这通常表明当前的反弹是由投资者实际购买现货而不是由高度杠杆合同交易驱动的。在市场上没有高杠杆位置的情况下，引发大规模抛售和急剧下降的风险很低，因此货币价格更有可能继续上涨。

From the technical chart, Bitcoin opened higher by about 1% yesterday, with a price around 110,375 points. After opening, BTC fluctuated around this price for about 180 minutes, then began to slowly decline and hit an intraday low of 108,720 points around 11:33. Around 2:02 pm, BTC quickly rose and finally closed at around 110,455 points. On that day, a positive cross candlestick with a long lower shadow was closed, with an increase of about 1.02%.

从技术图表中，比特币昨天开放约1％，价格约为110,375点。开放后，BTC在这个价格上波动约180分钟，然后开始慢慢下降，并在11:33左右的108,720点命中率。下午2:02左右，BTC迅速上升，最终以110,455分约为110,455分。那天，关闭了长长阴影的正面交叉烛台，增加了约1.02％。

According to the daily trading channel model, Bitcoin is currently running above the red and green protection channels, indicating that the medium-term trend is still strong. The sentiment index is also slowly recovering with the rise in the price of the currency, indicating that market confidence is recovering.

根据日常交易渠道模型，比特币目前正在高于红色和绿色保护渠道上方，这表明中期趋势仍然很强。情绪指数也随着货币价格上涨的上涨而缓慢恢复，表明市场信心正在恢复。

From the 1-hour period candlestick chart, the trading model monitoring shows that the short-term currency price is running above the white long and short lines, and the sentiment indicator is at a high level, which is about to form a top divergence pattern. This means that the probability of intensified market volatility in the short term is high, and there may be a trend of stepping back to 108,720 points (intraday low). It is necessary to focus on whether this low point will be broken.

从1小时的烛台图表中，交易模型监视表明，短期货币价格在白色长和短线上方运行，情感指标处于高水平，这将形成最高的差异模式。这意味着，短期内市场波动的概率很高，并且可能会有回到108,720点的趋势（盘中低）。有必要专注于该低点是否会被打破。

The author believes that through the 1-hour K-line data analysis, many indicators are in the high zone, and the probability of intraday fluctuations is increasing.

作者认为，通过1小时的K线数据分析，许多指标处于高区域，并且盘中波动的可能性正在增加。