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Bitwise CEO Hunter Horsley emphasized that crypto investors should concentrate on long-term growth potential rather than short-term price fluctuations. Writing on X, he advised that investors, as distinct from traders, should not fixate on weekly news or monthly price movements. Instead, Horsley urged them to examine the industry's fundamental growth indicators, such as increasing utility, on-chain technology securing market fit, the entry of institutions and corporations, and the execution capabilities of project teams. He noted that while the crypto industry's growth is not linear, the pace of fundamental development has clearly accelerated compared to 2022. Horsley stressed the importance of adopting a long-term perspective, adding that profits will naturally follow.

Bitcoin (BTC) is facing liquidity pressure as stablecoin funds have entered a net outflow phase, according to an analysis by Markus Thielen, an analyst at BIT (formerly Matrixport). He noted that while the monthly change in stablecoin supply had remained positive throughout the current cycle, an outflow is now underway, with the net outflow over the past 30 days reaching approximately $5 billion to $6 billion. Thielen explained that as fund inflows slow and volatility rises, the market's ability to be supported by liquidity has significantly weakened, creating a burden for both the cryptocurrency market and stablecoin issuers. He warned that a reversal in liquidity often triggers a shift in the market phase, making it highly risky to prematurely buy the dip. Thielen projected that the current sideways market could persist until the capital outflows stabilize.

Nasdaq-listed company Tron announced it has purchased an additional 152,333 TRX at an average price of $0.3282. This brings the company's total holdings to 699.5 million TRX. Tron stated it plans to continue expanding its TRX reserves to enhance shareholder value.

The Hyperliquid whale known as pension-usdt.eth added a 10,000 ETH ($16.8 million) short position nine hours ago, Lookonchain reported. The trader now holds a total short position of 60,000 ETH ($101 million). This whale is currently on a streak of 22 consecutive profitable trades, with cumulative profits exceeding $45 million.

BitMEX co-founder Arthur Hayes has denied on X reports that he purchased HYPE. The denial follows a report from Onchain Lens stating that Hayes had withdrawn 33,979 HYPE, worth $2.09 million, from Bybit.

Trade.xyz, the perpetual futures trading platform on Hyperliquid (HYPE), recorded a trading volume of $15.72 billion last week, according to data from Hyperinsight. This volume represents approximately 0.201% of the total traditional finance market. Transactions processed over the weekend totaled $807 million. Notably, its silver trading volume was equivalent to about 11.1% of that of the BlackRock iShares Silver ETF, with a weekly trading volume of $660 million. The platform's trading volumes for Micron (MU) and Marvell Technology (MRVL), the most traded U.S. stocks last week, accounted for 0.39% and 0.75%, respectively, of their global traditional finance market volumes.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $325.36 million liquidated (85.22% shorts) - ETH: $199.07 million liquidated (83.57% shorts) - SOL: $22.25 million liquidated (79.41% shorts)

Goldman Sachs forecasts the Federal Reserve will keep its benchmark interest rate on hold throughout 2026.

The recent sell-off in Bitcoin was driven by the spot market, not futures, according to an analysis by 10X Research. The firm noted that the market has been blaming the wrong party for the past month, with the decline being led by spot investors rather than aggressive short betting. As evidence, 10X Research pointed out that BTC funding rates rose by 0.9 percentage points last week to an annualized 5.7%, while futures open interest fell by $3.5 billion to $21 billion. The analysis concluded that BTC is now technically in oversold territory following the sharp sell-off, making a short-term rebound likely early this week. However, the firm cautioned that this should not be mistaken for a broader trend reversal.

NFT developer Yuga Labs announced that it has preemptively recovered and secured high-value NFT assets, including 29 BAYC, after detecting a risk of further attacks exploiting a security vulnerability in the Flooring Protocol. Yuga Labs CEO Michael Figge announced on X that the operation was led by Quit, the company's blockchain division. He added that the recovered assets also include four MAYC, two CryptoPunks, one Azuki, and 26 Captainz. The assets will be returned once measures to patch the vulnerability are complete, Figge said.

Syscoin (SYS) announced on X that it has suspended its bridge operations to investigate the cause of a recent unauthorized minting of 5 billion SYS. A hacker exploited a verification issue within the bridge to mint the tokens without authorization on the UTXO chain. The funds have since been distributed to multiple addresses, and Syscoin is working with exchanges and major partners to block deposits and trading of the assets.

On-chain analyst Darkfost stated that Bitcoin has entered an extremely undervalued territory. He noted that the cryptocurrency has retraced below the 4% quantile of the Power Law model, a price range where it has historically traded for only 4% of its existence. Darkfost suggested this is a suitable time to build long-term positions, emphasizing that this is not a short-term price prediction.

The Altcoin Season Index from crypto data platform CoinMarketCap currently stands at 46. The index is calculated by comparing the price performance of the top 100 coins by market cap, excluding stablecoins and wrapped coins, against Bitcoin. An "altcoin season" is declared if 75% of these top 100 coins outperform Bitcoin over the past 90 days; otherwise, it is considered a "bitcoin season." A score closer to 100 indicates a stronger altcoin season.

Ethereum co-founder Joseph Lubin has described recent budget cuts, staff departures, and leadership changes at the Ethereum Foundation as a necessary evolution rather than a crisis, CoinDesk reported. According to the report, Lubin argued that the foundation should adopt a decentralized structure, focusing on the protocol's core technology and value management while other organizations handle Ethereum's expansion, institutional partnerships, and ecosystem growth. He stated that the foundation must be neutral to be trusted beyond reproach, explaining that trust in a decentralized protocol is undermined by potential conflicts of interest between its business and development arms. "The work currently underway at the foundation is to separate protocol management from commercialization, and the view that Ethereum has entered a period of decline is not true," Lubin said. He also acknowledged that the AI narrative has recently overshadowed crypto in the tech industry and that digital assets are not currently leading capital inflows. However, Lubin added that he believes the next major wave will be AI agent commerce—an economy where humans and machines merge, using blockchain as infrastructure.

BitMEX co-founder Arthur Hayes has withdrawn 33,979 HYPE, valued at $2.09 million, from Bybit, according to Onchain Lens. The receiving address now holds a total of 34,066 HYPE. Such withdrawals from exchanges are typically interpreted as a sign of accumulation.

On-chain analyst ZachXBT alleged on X that BitMEX founder Arthur Hayes has a pattern of setting high price targets for specific cryptocurrencies before liquidating his positions and dumping his holdings on his followers. ZachXBT claimed this has happened multiple times, stating, "I wonder how much exit liquidity was provided by his followers over the past few days as he dumped NEAR, HYPE, ZEC, and yesterday, WLD." Hayes had previously disclosed selling NEAR, HYPE, and ZEC last week, and WLD yesterday. In response to the allegation, Hayes countered that he simply sold his holdings to those willing to buy at the offered price. He argued that if the price had continued to rise, he would have been seen as foolish, and that he was merely selling in line with his trading objectives.

With the Clarity Act awaiting a final vote on the U.S. Senate floor, Senator Cynthia Lummis has reiterated her commitment to passing the legislation. Lummis stated on X that the bill now only awaits a floor vote, adding that they did not come this far only to stop at the 5-yard line.

An anonymous whale address (starting with bc1qkg4h) is estimated to have realized a $3.5 million profit after depositing 1,656 BTC to Binance three hours ago, Lookonchain reported. The whale had acquired the BTC, valued at $98.93 million, at an average price of $59,734. Deposits to exchanges are typically interpreted as an intention to sell.

Addresses linked to Garrett Jin, founder of the fraudulent crypto exchange BitForex, have accumulated approximately 288 million Binance Life tokens, valued at $236 million, according to EmberCN. Of this total, 61.09 million tokens were acquired over the past seven days. The addresses sourced the tokens from platforms including Binance and PancakeSwap (CAKE). The accumulation coincides with a 20-fold surge in the price of the Binance Life token over the last two months.

Peter Schiff, CEO of Euro Pacific Capital and a prominent Bitcoin critic, has argued that companies offering interest-bearing crypto products should not be subject to the same regulatory requirements as banks. In a post on X, Schiff countered JPMorgan CEO Jamie Dimon's assertion that these crypto firms should face identical capital and compliance standards, calling the idea absurd. He explained that banks are covered by FDIC insurance and engage in risky lending under a fractional-reserve system, which stablecoin issuers do not. When a user pointed out it was surprising for him to oppose stricter regulation, given his usual criticism of the lack of investor protection in crypto, Schiff responded. He stated that stablecoins have a clear use case and their issuers are not banks, especially if the tokens are 100% backed by U.S. dollars and invested solely in Treasury bonds.

Hungary's new Minister of Science and Technology, Zoltán Tanács, has announced plans to repeal the previous government's cryptocurrency regulations. According to Crypto Briefing, the Hungarian government intends to halt criminal penalties for unapproved crypto services, ease numerous regulations, and align its rules with the European Union's Markets in Crypto-Assets (MiCA) framework to enhance market competitiveness. The move follows a landslide victory by the opposition Tisza party over the incumbent Fidesz party in April's election.

According to data from Tokenomist, the major token unlocks scheduled for this week (June 8–14) are as follows: - WET: 256 million tokens ($14.53 million), representing 111.59% of circulating supply, at 12:00 a.m. UTC on June 9 - HOME: 750 million tokens ($23.56 million), representing 19.79% of circulating supply, at 12:00 a.m. UTC on June 10 - ME: 172 million tokens ($10.28 million), representing 33.99% of circulating supply, at 12:00 a.m. UTC on June 10 - LINEA: 1 billion tokens ($2.74 million), representing 3.77% of circulating supply, at 11:00 a.m. UTC on June 10 - APT: 11.31 million tokens ($7.58 million), representing 0.67% of circulating supply, at 4:00 a.m. UTC on June 12 - CHEEL: 6.42 million tokens ($2.44 million), representing 0.81% of circulating supply, at 12:00 a.m. UTC on June 13

A circuit breaker was triggered on the KOSPI as the index plunged.

The Spot CVD chart provides an order book analysis for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks the volume of trades at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly. These brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

The key global macro events for the second week of June are as follows (all times are UTC): - June 9, 12:15 p.m. UTC: U.S. ADP Weekly Employment Change report - June 10, 12:30 p.m. UTC: U.S. May Consumer Price Index (CPI) - June 11: EU interest rate decision (12:15 p.m. UTC); U.S. May Producer Price Index (PPI) and Initial Jobless Claims (12:30 p.m. UTC) - June 12: SpaceX IPO