ChainCatcher news, CryptoQuant analyst Yonseident stated, "The MVRV metric points to a potential cycle peak. In 2021, the 365-day moving average (DMA) of MVRV formed a double top camel shape before the bear market began. Subsequently, another peak appeared six months later. The second peak actually marked a turning point."

There are rumors in the market that neutral strategies and DMA business have experienced Get Liquidated events. However, the actual situation is not like that. The current leverage of DMA business is only 2 times, and most of them use 1800 constituent stocks, so there will not be a large-scale Spot selling pressure. At the same time, there is also Arbitrage space for long Spot and short futures strategies.

1. Global interest rate trading Close Position, the pump of the Japanese yen led to the US dollar falling below the 155 level and the 100-day DMA. 2. The Central Bank of India may sell dollars in the 83.70-83.72 Exchange Rate range to support the rupee. 3. The European Central Bank is considering halving the leverage reserve requirement to around 7 billion euros. 4. The Central Bank of the Philippines has suspended today's trading and currency operations for the US dollar/Philippine peso. 5. The Governor of the Central Bank of the Czech Republic said that reducing the interest rate by 25 basis points would be a good starting point for discussion, and the interest rate is expected to be below 4% by the end of the year. 6. The Central Bank of Turkey maintains the Benchmark Interest Rate at 50% and will maintain a tight monetary policy. 7. Sri Lanka will lower the Benchmark loan Interest Rate and deposit Interest Rate. 8. The Central Bank of Nigeria has raised the Benchmark loan Interest Rate to 26.75%. 9. The Central Bank of Hungary lowered the Benchmark Interest Rate by 25 basis points to 6.75%, and the market expects another 1-2 rate cuts later this year. 10. The EU will consider a proposal to freeze the assets of the Russian Central Bank.

① The time for the US debt ceiling negotiations is approaching, and the market seems to be confident that the two sides will reach a compromise. U.S. stocks closed slightly higher on Monday, with the VIX fear index closing at a calm 17.2 level, but if negotiations fail to make real progress on Tuesday, it could trigger a huge sell-off in risky assets. ② US President Joe Biden will leave Washington on Wednesday for Japan to attend the Group of Seven (G7) meeting. Any deal must pass both houses of Congress, suggesting that time is running out before the deadline. U.S. Treasury Department officials said the deadline could come as soon as June 1. ③ The positions of the Democrats and Republicans on taxes, energy regulations and spending levels are still very different. Treasury Secretary Janet Yellen has repeatedly warned that if Congress does not raise the $31.4 trillion federal debt ceiling, it could trigger a "constitutional crisis" and bring an "economic and financial disaster" to the U.S. and global economies. ④ For the impending default, the dollar's initial reaction may be to sell sharply, but as global markets dive, safe-haven funds may return to the dollar. ⑤ From a technical point of view, the kinetic energy indicators on the daily chart of the US dollar index and the 5-day/10-day/21-day moving average rose slightly, and the Bollinger Band range expanded on the 21st. The daily chart shows the possibility of further gains. Support is seen at Friday's European session low of 101.93, followed by the 21-d/10-dma of 101.74/77. Initial resistance is at 102.73 (38.2% retracement of the 2023 decline) and Monday's high at 102.75