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Bitcoin’s MVRV Z-Score nears the critical zero mark, historically signaling bear market bottoms; however, long-term holders still show unrealized profits, indicating potential further downside before a bottom is confirmed. #Update #Crypto $BTC
@MicroStrategy acquired 1,550 $BTC for $101M, increasing its total to 845,256 BTC. The purchase follows a recent decline in Bitcoin price and boosts cash reserves to $1B. #Update #Crypto $BTC
@Bybit launches IPO Express for tokenized SpaceX shares, allowing global retail investors to access the $75B IPO on June 12. Registration is open until June 11. #Update #Crypto $SPACEX
The crypto market faces volatility amid high-stakes macroeconomic data, with @Coinbase launching perpetual-style equity index futures and Starknet introducing a privacy standard. Watch for U.S. CPI on June 10. #Update #Crypto $BTC $ETH
Zcash ($ZEC) rebounds 45% to $437 after developers proposed the Ironwood upgrade to fix a counterfeiting bug, although it’s still down 22% weekly. #Update #Crypto $ZEC
CME’s bitcoin volatility index futures began trading, allowing investors to hedge price fluctuations directly. Monarq Asset Management and DV Chain executed initial trades, enhancing risk management options. #Update #Crypto $BTC
XRP stabilizes above $1.10 after a sharp selloff, with over 25M tokens leaving exchanges and ETF inflows nearing $1.4B; key resistance at $1.15 remains. #Update #Crypto $XRP
Bitcoin’s rise to $63,700 triggered $504 million in short liquidations, the highest since April, as total crypto liquidations reached $655 million. Bitcoin now trades around $62,900. #Update #Crypto $BTC
Major cryptocurrencies, including $BTC, $ETH, and $XRP, retreated from overnight highs as rising tensions between Iran and Israel coupled with a 3% oil price surge heightened risk aversion in Asian markets. #Update #Crypto $BTC
The House Ways and Means Committee has circulated seven draft bills on crypto tax policy, covering staking, mining, and stablecoin transactions; a hearing is scheduled for June 9. #Update #Crypto
@MicroStrategy sold 32 $BTC for $2.5M, its first sale since 2022, raising concerns about future liquidity. CEO Phong Le reiterated plans to increase Bitcoin holdings. #Update #Crypto $BTC
@Abra’s Bill Barhydt announces plans for a public listing via SPAC, valuing the company at $750M, with a focus on tokenization and crypto banking services. #Update #Crypto $BTC $ETH
@JoeLubin defends Ethereum Foundation’s recent budget cuts and staff departures as necessary for evolution, emphasizing a focus on protocol stewardship amid competition from AI #Update #Crypto $ETH
James Wo, CEO of @DFG, asserts $BTC remains the top institutional asset, while $ETH lacks consensus and recognition. He predicts $BTC could hit new highs by 2027-2028. #Update #Crypto $BTC
