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Cryptography News
Coinjournal
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Bitcoin drops below $104K as ETF outflows trigger decline fears
- Bitcoin falls below $104K on June 2, following heavy ETF outflows and technical uncertainty.
- Whales and institutional sellers contribute to the market shift and increased selling pressure on Bitcoin.
- US spot Bitcoin ETFs experience a massive $616.22 million outflow, ending a six-week streak of inflows.
- BlackRock's IBIT sees the largest exit with $430.82 million withdrawn, despite managing over $69 billion in assets.
- Bitcoin's price pullback from $109,000 to $103,833 breaches key Fibonacci levels, signaling bearish technical patterns.
- BTC faces resistance near $106K–$107K, with significant challenges for bulls to regain upward momentum.
- High-leverage trader James Wynn's $100 million BTC long at 40X leverage triggers concerns about exaggerated leverage and market speculation.
- On-chain metrics show diverging behavior between whales and retail traders, with concerns over retail participants buying at the top.
- Bitcoin's RSI signals turn bearish amidst broader macroeconomic uncertainties and market corrections.
- Traders anticipate a potential bounce from the $100K support to $113K, but the risk of a deeper correction looms over the market sentiment.
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Coinjournal
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Ethereum co-founder Joe Lubin discusses new Ether treasury strategy, cites Michael Saylor’s influence
- Joe Lubin, Ethereum co-founder, credits Michael Saylor for influencing the launch of a firm investing in Ether (ETH) as a crypto treasury strategy.
- Companies like MicroStrategy and SharpLink Gaming are adopting crypto treasury strategies following Saylor's successful Bitcoin accumulation model.
- SharpLink Gaming pivots to become an Ether treasury company with Joe Lubin leading the board, resulting in a surge of approximately 1,000% in its shares.
- Lubin anticipates driving further demand for Ether and emphasizes a prudent approach to avoid over-leverage, highlighting the benefits of staking as an additional avenue for returns.
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Bitcoinmagazine
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Strategy Buys $75 Million Worth of Bitcoin
- Strategy has acquired an additional 705 Bitcoin for approximately $75 million, becoming the largest corporate holder of Bitcoin.
- The purchase was made at an average price of $106,495 per coin between May 26 and June 1, funded through at-the-market (ATM) equity offerings.
- With this acquisition, Strategy now holds a total of 580,955 BTC, valued at more than $60 billion based on current market prices.
- The move reflects the growing institutional confidence in Bitcoin, with over 60 public companies now holding Bitcoin on their balance sheets.
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Cryptopotato
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Important Shiba Inu Indicator Drops to a 3-Month Low: How Will SHIB’s Price React?
- Shibarium’s recent slowdown has raised concerns about Shiba Inu’s network activity and price future.
- Low daily transactions on Shibarium and declining user engagement could impact SHIB’s price negatively.
- Negative exchange netflow and a decreasing burning rate are bearish signs for SHIB’s valuation.
- However, a decline in exchange netflow and a slightly bullish Relative Strength Index (RSI) indicate potential recovery for SHIB’s price.
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Coindoo
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BTC Holds Strong Despite Macro Turmoil, Says QCP Capital
- A sharp U.S. policy shift, doubling steel tariffs on China to 50% and expanding tech sanctions, led to a broad risk-off move and nearly $1 billion in crypto liquidations since Friday.
- Despite the turmoil, BlackRock’s IBIT ETF saw $430 million in outflows, but BTC remained stable above $102,000.
- Metaplanet purchased an additional $114 million in Bitcoin after the selloff, increasing its BTC holdings to 8,888.
- QCP Capital notes that short-term volatility has decreased significantly and anticipates rangebound BTC trading in the short term, focusing on key levels at $100,000 and $110,000.
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Cryptopotato
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Bitcoin Price Analysis: BTC in Danger of Prolonged Correction After Recent Rejection
- Bitcoin recently faced rejection near the $111K zone after tapping into it, indicating a potential pullback or consolidation phase in the market.
- The technical analysis points out that BTC experienced a rejection from the $111K level, yet the overall structure remains bullish as long as it stays above the $91K demand zone.
- On the 4-hour chart, Bitcoin broke below the ascending channel and faced a rejection from the $108K zone, showing signs of bearish momentum gaining ground.
- On-chain analysis reveals that Bitcoin's Adjusted SOPR is above the 1.0 threshold, signaling coins moving on-chain are in profit, but the market may be entering a more sensitive phase with a potential deeper correction ahead.
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Zycrypto
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PrimeXBT’s FSCA Regulation Paves the Way for Global Crypto Adoption
- PrimeXBT has gained approval from the FSCA in South Africa to provide crypto services, expanding its global reach.
- The license allows the platform to offer traders a secure environment for depositing, withdrawing, and trading various digital assets.
- South African clients can now access crypto-funded accounts on MT5, PXTrader, and Crypto Futures, supporting margin trading for assets like BTC, ETH, and more.
- PrimeXBT's focus on global crypto adoption includes providing education resources, trader webinars, and a unified platform for diverse trading strategies.
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Zycrypto
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Billion-Dollar DOGE Accumulation and Shiba Inu Recovery Signal Memecoin Season Loading
- Dogecoin and Shiba Inu are showing signs of a bullish uptrend, potentially signaling the arrival of altcoin season.
- Shiba Inu rebounded with a 5% surge in under 24 hours after a mild intraday price decline, indicating a slow recovery and a retest of previous support levels.
- Dogecoin saw a 6.4% gain in 24 hours, breaking through $0.220 resistance levels, with significant whale accumulation of over 1 billion DOGE tokens in the last month.
- Both memecoins are experiencing increased buying pressure, suggesting a possible price breakout soon.
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Coindoo
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Strategy Adds 705 BTC Worth $75.1M, Total Holdings Reach 580,955 BTC
- Strategy adds 705 BTC worth $75.1 million, boosting total holdings to 580,955 BTC as of June 1, 2025.
- This acquisition solidifies Strategy as the largest corporate holder of Bitcoin, with a 16.9% year-to-date yield in 2025.
- The cumulative BTC holdings were acquired for around $40.68 billion at an average of $70,023 per Bitcoin, demonstrating high confidence in Bitcoin's long-term value.
- Strategy's strategic accumulation mirrors institutional momentum in the crypto space, signaling success amid Bitcoin’s current high prices, topping $100,000.
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Cryptopotato
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Thesaurum Introduces Innovative Blockchain Environment for Changing Diamond Investment
- Thesaurum has launched a blockchain-powered ecosystem to make diamond investments more accessible to retail and institutional investors.
- Traditionally, diamond investing was considered elitist and complex due to high costs, unclear pricing, and ethical concerns.
- Thesaurum aims to democratize diamond investing by offering a digital platform for buying, storing, and trading diamonds.
- The platform utilizes blockchain technology for transparency, ensuring traceability of diamonds from mine to marketplace.
- Thesaurum's model focuses on access, openness, and technology to simplify the diamond investment process.
- The use of the Thesaurum Diamond Trading Token (TDTT) on the Binance Smart Chain facilitates various functions within the ecosystem.
- TDTT enables fractional ownership, liquidity, and cost-efficiency in diamond investments.
- Thesaurum offers the Diamond Academy for educational purposes, providing knowledge on diamond grading, market dynamics, and ethical sourcing.
- The platform's vision includes expanding services and tools for short- and long-term investment plans in the diamond market.
- Thesaurum's goal is to democratize diamond ownership and create a more open and accessible market for alternative assets.
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Zycrypto
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Metaplanet Buys Another 1,088 Bitcoin For $117 Million — Now Owns 8,888 BTC
- Metaplanet, a Tokyo-listed firm, purchased 1,088 Bitcoin for $117 million, bringing its total BTC holdings to 8,888.
- The purchase indicates institutional confidence in the Bitcoin bull cycle, with Bitcoin reaching an all-time high in May.
- Metaplanet aims to reach 10,000 BTC by the end of the year, following its aggressive Bitcoin accumulation strategy.
- The firm issued $50 million in zero-interest bonds to fund BTC purchases without diluting existing equity, positioning itself for further Bitcoin adoption.
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Coindoo
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Top 10 Crypto Gainers Today: Meme Coins and Microcaps Lead the Charge
- Leading the charge are meme-inspired and community-driven assets, some of which have surged by over 4,000% in a single day.
- Snowy Owl (SWOL) saw a staggering 4,700% increase, making it the day’s most explosive performer.
- Black Phoenix (BPX) and BovineVerse Token (BVT) also demonstrated significant gains of over 2,600% and 855%, respectively.
- The top gainers today emphasize the speculative strength of meme coins and low-cap altcoins, urging traders to exercise caution due to elevated volatility.
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Cryptopotato
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Modest Strategy Bitcoin Acquisition Brings Stash to Almost 581,000 BTC
- The world’s largest corporate holder of bitcoin, Strategy, has acquired 705 BTC for $75.1 million at an average price of $106,495 per bitcoin.
- As of June 1, 2025, Strategy holds 580,955 BTC acquired for $40.68 billion at roughly $70,023 per bitcoin, resulting in a current value of over $60 billion.
- While this recent purchase was relatively modest compared to previous acquisitions, Strategy's bitcoin stash continues to grow, with the latest announcement bringing the total close to 581,000 BTC.
- Another major bitcoin accumulator, Metaplanet, also made a significant acquisition today, showcasing the ongoing trend of large-scale BTC investments in the market.
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Zycrypto
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Americans Now Hold More Bitcoin Than Gold, as 401(k) Rollout Looms
- Bitcoin ownership in the U.S. has surpassed gold with 49.6 million Americans holding Bitcoin, hinting at a shift in wealth storage and growth.
- The potential unlocking of $8.9 trillion in 401(k) funds for Bitcoin could further boost its market presence.
- More Americans own Bitcoin than gold, marking a notable trend in financial assets.
- The integration of Bitcoin into 401(k) plans could lead to significant market growth and solidify its position in U.S. finance.
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Coindoo
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Key U.S. Economic Events This Week That Could Shift Crypto Market Sentiment
- Monday: ISM Manufacturing PMI data and Powell speech to provide insights into economic activity and monetary policy direction.
- Tuesday: JOLTS Job Openings report to portray labor demand, potentially impacting Fed stance and risk assets like cryptocurrencies.
- Wednesday: ADP Non-Farm Employment Change data could influence crypto markets based on private sector hiring trends.
- Thursday: Unemployment Claims data to offer insights into the labor market, affecting crypto market sentiment.
- Friday: Non-Farm Payrolls and Unemployment Rate releases will be crucial in determining sentiment in both traditional and digital asset markets.
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