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The founder of the Liebit Mining Pool (B.TOP), Jiang Zhuoer, stated that Bitcoin has not effectively broken below the strong support of $60,000. The price difference between Coinbase and Binance is narrowing, indicating that the selling volume from U.S. institutions like ETFs is decreasing, and the crypto market may see a rebound over the weekend.In yesterday's news, Jiang Zhuoer announced that he has "bottom-fished" and bought back all ETH positions at $1,645, expecting to start selling after a rebound in 1 to 3 days.

Bitget announced that its US stock 2.0 has officially launched on the web. Users can now trade 204 rTokens through the Bitget Web version, covering core sectors such as technology, consumer, semiconductors, and indices.It is reported that the rTokens, identified by the letter r + stock ticker (for example, rNVDA for NVIDIA), are issued by Bitget's licensed RWA protocol Reality, and are directly connected to global liquidity pools such as NASDAQ and NYSE through cooperation with the compliant brokerage Alpaca.

According to Barron's, Morgan Stanley's wealth management division has partnered with Galaxy Digital, allowing high-net-worth clients holding Bitcoin, Ethereum, or Solana to convert their direct holdings into a spot crypto ETF.The converted ETF can be used as collateral for financing, with a minimum trading threshold of $5 million. In July 2025, the SEC approved a physical conversion mechanism between directly held crypto assets and spot crypto ETFs, laying the regulatory foundation for this collaboration.

According to the official announcement, UPBIT will launch the KRW trading of Babylon (BABY) on June 5 at 20:00.

CryptoQuant analyst Axel Adler Jr stated that Bitcoin is once again testing a low point of around $62,000, while the current 7-day net realized losses have reached approximately $7 billion, higher than the levels during the low point in February this year, but still below the peak loss of about $14 billion during the winter market panic.Currently, the Bitcoin price has clearly fallen below the cost basis of short-term holders (STH) at around $76,000. If it continues to decline, the main support left is the average realized price across the network at about $54,000, as well as the cost basis of long-term holders (LTH) at around $49,000. These two areas corresponded to the full capitulation phase and the formation of the cycle bottom in historical cycles.However, as long as Bitcoin remains above $54,000, the market will not enter a full capitulation phase; if it falls below and continues to operate below the market low point from February this year, it may further test the final defense line near $54,000 in this round.

According to the official announcement, Bitget has now launched U-based ZEST and BTW perpetual contracts, both supporting up to 10x leverage, and the contract trading Bot will be opened simultaneously.

The U.S. cryptocurrency market structure bill, the "Clarity Act," is a "support for regulation, support for enforcement" bill that rebuts criticisms from some law enforcement agencies regarding its inadequacy in preventing financial crimes. As the midterm elections approach, the time window for Congress to pass this bill is narrowing. Senator Cynthia Lummis warned that if progress is not made this year, the bill may not be seriously reconsidered until after 2030. Currently, the Clarity Act still faces multiple controversies, including stablecoin yield arrangements, conflicts of interest arising from Trump-related cryptocurrency businesses, and whether anti-money laundering standards are stringent enough.The latest version also incorporates the "Blockchain Regulatory Certainty Act" (BRCA) pushed by DeFi supporters, aimed at clarifying that non-custodial developers should not be regarded as money transmitters. However, some law enforcement groups and lawmakers are concerned that the BRCA and certain provisions of the bill may weaken the ability to track illegal funds and recover victims' assets. Witt stated that lawmakers have responded to these concerns before the Senate Banking Committee vote and added provisions to strengthen regulatory and enforcement foundations.

Bitcoin fell below $64,000 again after the U.S. stock market opened on Thursday, with a weekly decline of 13.5%, marking the worst single-week performance since 2026. BTC previously dropped to its lowest level since early February and retested the 200-week simple moving average. Trader Daan Crypto Trades stated that BTC continued to decline after encountering a bearish retest in the $80,000 low range, remaining in a larger downtrend since last October. He believes that the current market focus has shifted to whether the $60,000 level can maintain support, with the low $60,000 area combined with the 200-week moving average becoming a key area for bulls to defend.Trading resource The Kobeissi Letter pointed out that since October 2025, the total market capitalization of the crypto market has evaporated by over $2 trillion. In the short term, commentator Exitpump noted that every rebound in the Binance perpetual contract order book encounters sell orders, with buying pressure only just beginning to push prices up, leading to more supply appearing above, and sellers still holding control. Trader Rekt Capital mentioned that on June 13, 2022, BTC touched the 200-week moving average during a bear market pullback; and in the 2026 bear market, BTC nearly touched that moving average again on the same date four years later. He believes that BTC's cyclical performance is "incredible."

Grayscale's research director Zach Pandl stated that after Strategy disclosed the sale of 32 BTC on June 1, it triggered a new round of volatility in the BTC market. He pointed out that the scale of the sale itself is not important, as Strategy still holds approximately 840,000 BTC on its balance sheet, valued at about $5.5 billion. However, as one of the largest digital asset treasury managers in the world, its strategic shift puts pressure on market sentiment.Pandl believes that more importantly, the recent volatility affects the price of Strategy's variable rate preferred stock tool STRC. STRC is designed to maintain a price of about $100 per share, with a current dividend yield of 11.5%. If the stock price falls below $100, it means investors are demanding a higher return. Strategy can increase dividends, but this will increase future cash flow obligations and may lead to more BTC sales, further suppressing BTC prices. Strategy's leveraged business model is under pressure, increasing volatility across the entire BTC market.At the current levels of STRC and MSTR stock prices, Grayscale believes that Strategy's ability to continue accumulating more BTC is limited. However, Grayscale believes that in the long term, reducing the BTC on the leveraged digital asset treasury balance sheet and allowing more BTC to be distributed across diversified corporate balance sheets will benefit the health of the Bitcoin ecosystem. But before a sustainable bottom for BTC prices is formed, other buyers need to enter the market. Grayscale expects BTC prices to recover in the coming months, but in the short term, BTC's performance may lag behind other segments of the crypto market that directly benefit from regulatory clarity.

According to CNBC, ARK Invest's Chief Futurist Brett Winton stated that SpaceX's upcoming IPO could become one of the most significant stock offerings in history, with its satellite internet business Starlink alone being sufficient to support a valuation of nearly $2 trillion.SpaceX has set the IPO price at $135 per share, planning to list on Nasdaq on June 12, with a pre-IPO valuation of approximately $1.77 trillion. The company plans to sell 555.6 million shares, raising about $75 billion, and underwriters may also purchase an additional 83.33 million shares at the IPO price, corresponding to about $11.2 billion. After the IPO is completed, Musk will hold over 82% of the voting control.Winton noted that SpaceX's growth prospects are not limited to launch services but are closely tied to the rapid expansion of AI. ARK estimates that by 2030, the combined enterprise value of companies developing and operating foundational AI models could reach $15 trillion to $20 trillion.Winton stated that investors typically focus on SpaceX's reusable rockets, but Starlink is the main driver of ARK's valuation logic. He mentioned that the current satellite constellation of Starlink can provide approximately 500 Tbps of bandwidth, generating annual revenue of about $13 billion. With the Starship rocket coming into operation, SpaceX can significantly reduce launch costs and deploy more satellites at a faster pace.

According to the official announcement, as an important upgrade in terms of capital efficiency for the US stock 2.0 product, Bitget has added 15 US stock tokens as collateral currency in the unified account and U-based contract joint margin model.The supported underlying assets include: rAAPL, rAMZN, rMETA, rMU, rTSLA, rGOOGL, rNVDA, rINTC, rMSFT, rASML, rAVGO, rTSM, rSNDK and other core technology assets, as well as the rQQQ and rSPY large-cap index tokens.

The South Korean cryptocurrency exchange Upbit announced that due to the Injective (INJ) network upgrade, the deposit and withdrawal services for INJ will be suspended starting from June 4 at 19:00 Beijing time (20:00 Korean time) until the network stability confirmation is completed.The announcement indicates that this suspension only affects the deposit and withdrawal functions of INJ, while spot trading will continue as normal. Upbit reminds users that conducting on-chain transfers during the suspension period may lead to delays in arrival, and in extreme cases, there may even be a risk of irreversible loss.Upbit stated that it will maintain close cooperation with the Injective project team to ensure the safety of user assets and will issue a separate notice to resume deposit and withdrawal services once the network stabilizes.

British teenager Alexander Browder stated that he has been placed on a sanctions list by the Russian Ministry of Foreign Affairs and banned from entering the country for writing a report exposing a cryptocurrency money laundering network supported by Russia.The report indicates that countries such as Russia, Iran, and North Korea launder approximately $350 billion, with a ruble stablecoin named A7A5 being one of the main issues facing Western anti-money laundering efforts. The UK Foreign Office stated that Russia uses tokens like A7A5 to evade Western sanctions and fund its military. The UK government imposed sanctions on individuals related to this network in May, which transferred over $90 billion last year. Alexander Browder expressed pride in being the first high school student globally to be sanctioned by an authoritarian regime for exposing corruption.

According to BSCN, long-time Bitcoin critic Peter Schiff recently stated that Tether's market capitalization will not only surpass Ethereum in the future but will ultimately exceed Bitcoin as well. He believes that the only uncertainty that exists is not the outcome, but how long this process will take to complete.Schiff stated that as the application of stablecoins continues to expand in payments, transaction settlements, and the circulation of digital dollars, the market demand for USDT may continue to grow faster than for volatile assets like Bitcoin. He insists that Bitcoin lacks intrinsic value, while stablecoins have a clearer use in actual financial activities.However, Schiff also mentioned that after the recent market crash, Bitcoin has gained short-term support around $61,000. BTC has rebounded more than $2,000 from its recent low, indicating that there is some buying support in that area.

Bitwise Chief Investment Officer Matt Hougan posted on the X platform, stating that institutions are like large oil tankers, which have now adjusted their course to support cryptocurrencies, tokenization, and stablecoins.He believes that this trend will not slow down, regardless of price performance.

According to CoinDesk, global payment networks Stripe, Visa, and Mastercard are preparing to launch a new stablecoin platform. Sources reveal that cryptocurrency exchange Binance is also exploring the possibility of participating in this stablecoin platform.Currently, Coinbase, Stripe, and Visa have all declined to comment, and Mastercard did not respond to comment requests before publication. In addition, the revenue-sharing agreement between Coinbase and Circle Internet is set to renew in August this year, with the current market capitalization of USDC reaching 76 billion dollars.

According to BIT analysis, a significant feature of Bitcoin over the past four years is that most of the price increases are concentrated in a short period of rapid growth, followed by a prolonged period of sideways consolidation. The pullback phase also shows a similar pattern, where the price usually drops quickly at first, releasing most of the downward pressure in one go, and then gradually stabilizes.This round of pullback is mainly influenced by two factors: first, the U.S. April CPI announced in May was higher than expected; second, there are concerns in the market about Strategy selling Bitcoin and the subsequent potential selling pressure. As a result, the spot Bitcoin ETF quickly shifted from net buying to significant net selling, with a cumulative net sell of about $1.5 billion this year, creating noticeable pressure on the market.Currently, Bitcoin is still under pullback pressure, with $63,445 being a key support level to watch. Whether this level can hold will affect the market's judgment on the depth of this adjustment: if the price stabilizes near this area, this pullback will still be considered a phase adjustment; if it effectively breaks below, it may enter a deeper adjustment and consolidation.

According to FinanceFeeds, Tether-supported large agricultural company Adecoagro plans to launch a Bitcoin mining operation powered by electricity generated from sugarcane processing in Brazil, with an initial capacity of 10 megawatts, approximately 1,280 mining machines, expected to start around July 1, 2026. Adecoagro's business encompasses sugar, ethanol, rice, dairy products, and renewable energy, and Tether previously acquired a majority stake in the company.The mining project will utilize electricity generated from sugarcane residue (bagasse), and the company has over 230 megawatts of renewable energy generation capacity in South America. Brazil is one of the world's largest sugarcane producers, with a mature ethanol and bioenergy industry. If the pilot is successful, other agricultural and renewable energy producers may view mining as a flexible demand source for surplus electricity.

According to the official announcement, Bitget has launched the IPO pre-market perpetual contract ANTHROPIC/USDT, with a maximum leverage of 20 times. For more details, please check the official Bitget platform.

According to the official announcement, Bitget has now launched the U-based UNITAS perpetual contract, supporting up to 20 times leverage, and the contract trading Bot will be opened simultaneously. For more details, please refer to the Bitget official platform.