Gate’s Daily Market Trends [June 2nd]:DOGECOIN rises above 20%, Shares of mining company RIOT soar

As of 12:00 GMT on June 2nd, Bitcoin’s price closed at $36487.23 and Ether's price closed at $2618.2.



Yesterday afternoon, Bitcoin’s price entered a sideways adjustment phase, with the Bollinger band narrowing significantly. The True Volatility Index declined and the level of market volatility was temporarily at a steady state. Surprisingly, Bitcoin’s price hit $36,500.



However, Gate data shows that the market is still in a state of extreme panic. Indicators such as MACD and RSI are in critical condition. With buy and sell signals both very vague, low volume friction is the main reason for the current temporary stable market performance. After 12:00, investors need to pay attention to bitcoin price’s short-cycle volatility and afternoon effect.



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