Despite concerns over risks stemming from President Trump's tariff war, recent U.S. data shows sustained strength in the labor market. Nvidia closed Tuesday with a 2.8% gain, reaching a market capitalization of $3.45 trillion—surpassing Microsoft to become the world's most valuable publicly traded company. Meanwhile, Bitcoin briefly surged to $106,794 before retreating to above $105K at press time, showing weakened upward momentum. Bitcoin ETFs have recorded net outflows for three consecutive days, whereas Ethereum ETFs have maintained 11 straight days of net inflows since May 16.
Unexpected Rise in U.S. Job Openings Supports Fed’s Pause on Rate Changes
The U.S. Labor Department reported that April's JOLTS job openings increased by 191,000 to 7.391 million, exceeding expectations and boosting market sentiment. This growth reinforces the Federal Reserve's assessment of a robust labor market. While some economists warn of potential slowdowns due to tariff pressures, current data supports the Fed's decision to hold rates steady.
The Federal Reserve's June 18 policy meeting is widely expected to maintain the status quo. According to CME FedWatch, investors anticipate the earliest rate cut in September, with only two reductions projected for 2025.
U.S.-China Diplomacy and Trade Developments
Bloomberg reports that the U.S. reaffirmed plans for President Trump and Chinese leader Xi Jinping to hold talks "soon." White House Press Secretary Karoline Leavitt emphasized active monitoring of China’s compliance with the Geneva Trade Agreement.
In parallel, the U.S. Trade Representative has alerted partners to upcoming negotiation deadlines. Commerce Secretary Howard Lutnick expressed optimism about a pending U.S.-India deal. Concurrently, Trump’s executive order raising steel and aluminum tariffs from 25% to 50% took effect Wednesday, fulfilling his pledge to bolster domestic manufacturing. U.S. metal prices surged Monday.
Bitcoin Stabilizes Above $105K as Ethereum ETFs Sustain Momentum
After a brief peak at $106,794, Bitcoin settled above $105K amid fading upward traction. Bitcoin ETFs recorded net outflows for three days, while Ethereum ETFs marked 11 days of net inflows, with U.S. spot ETFs now holding $9.37 billion—3.06% of Ethereum’s market cap.
The Ethereum Foundation (EF) announced a restructuring on June 2, streamlining teams to prioritize three goals:
- Scaling Layer 1 (L1)
- Enhancing Rollup Blobspace efficiency
- Optimizing user experience (UX)
👉 Explore Ethereum’s latest strategic shifts
FAQ
Q: Why did Nvidia’s market cap surpass Microsoft’s?
A: Nvidia’s 2.8% stock rise propelled its valuation to $3.45 trillion, driven by strong demand for its AI and data center technologies.
Q: What’s driving Ethereum ETF inflows?
A: Confidence in Ethereum’s ecosystem upgrades and institutional adoption fuels sustained ETF investments.
Q: How might U.S. tariffs impact crypto markets?
A: While tariffs focus on traditional sectors, crypto remains sensitive to macroeconomic shifts—monitor Fed policies for indirect effects.
👉 Stay updated on crypto trends
Risk Disclosure
Cryptocurrency investments carry high volatility and risk. Capital loss is possible. Assess risks cautiously.
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