News

BlockBeats News, June 7th - Leverage product researcher degentrading stated that the Hong Kong-listed leveraged fund, Southbound Double Long SK Hynix (7709.HK), due to a significant drop in the price of the South Korean stock SK Hynix last week, needed to forcibly sell about 2 million shares at the opening of the South Korean market on Monday. This sell order size is equivalent to 40% of SK Hynix's normal daily trading volume, creating huge and mechanistic selling pressure. What's more troublesome is that the leverage product's gamma effect will cause more price drops, leading to more selling pressure and potentially triggering a chain reaction.

BlockBeats News, June 7th, according to Alternative data, today's cryptocurrency Fear and Greed Index is 12 (unchanged from yesterday), indicating that market sentiment remains in "Extreme Fear." Note: The Fear Index has a range of 0-100 and includes the following indicators: Volatility (25%) + Market Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin's Dominance (10%) + Google Trends Analysis (10%).

BlockBeats News, June 7th, the Chilean police arrested 18 individuals suspected of laundering money for the Venezuelan criminal organization Tren de Aragua after a two-year investigation. The amount involved in the case is estimated to be $88 million, and the related network involved bank accounts, shell companies, and cryptocurrency transfers.