June 16 news, according to 4E observation, as of 16:00 (UTC+8) on June 16, Bitcoin (BTC) was last reported at US$106,380. It has fallen from a high of US$110,300 in the past four days, hitting a low of US$103,700, and the overall situation is in a weak and volatile range. Although an attempt to rebound above US$107,000 in the short term, the upside is weak and short sentiment still dominates. The encryption market is under simultaneous pressure. Ethereum (ETH) fell below US$2,800. Mainstream currencies such as SOL and AVAX once retreated by more than 8%, and the total market value dropped to approximately US$3.18 trillion. Risk appetite remained low. Chain data shows that retail trading popularity has weakened and institutional capital inflows have also slowed down. At the macro level, the CPI and PPI announced by the United States last week were both lower than expected, but the Federal Reserve kept interest rates unchanged and sent a biased signal. It is expected to cut interest rates only once during the year, triggering market adjustments. The US dollar strengthened in the short term and US bond yields rebounded, suppressing risky assets. In addition, the geopolitical situation remains uncertain. Tensions in the Middle East remain unresolved, gold continues to rise, while Bitcoin's response is limited, once again raising questions about its safe-haven nature. In terms of supervision, the EU MiCA regulatory rules have entered the substantive implementation stage, and a number of compliance platforms have been approved one after another, which is expected to improve the industry foundation in the medium and long term. However, in the short term, the market is still dominated by macro expectations and capital sentiment. 4E reminds investors to pay attention to risks and respond cautiously to market fluctuations.