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5 Jun 2026, 08:14

Bitcoin selloff wipes over $220M in value from Tesla's crypto treasury

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5 Jun 2026, 08:12

Altcoin Massacre Triggers $1.2B in Liquidations as ETH Tanks Below $1.7K and ZEC Gets Smashed

The wild cryptocurrency market moves continue as most assets have produced even higher fluctuations in the past several hours, which has inevitably harmed over-leveraged traders. The most significant price fluctuation in the past day came from the recent high-flyer Zcash, which crashed after some community members found a vulnerability in its code. This prompted intense backlash including from popular crypto experts, such as Arthur Hayes, who said he had disposed of his entire ZEC position. The combination of these factors led to a massive and immediate price crash for the privacy token. It went from over $630 yesterday to under $300 earlier today before it recovered some ground and reclaimed the latter. Naturally, this intense price move led to substantial liquidations with $100 million worth of ZEC longs getting wrecked on a daily basis, according to CoinGlass. However, ZEC is far from the only crypto asset affected by the overall market-wide wildness. Ethereum continues to underperform, especially since it lost the $2,000 support earlier this week. It plunged to under $1,650 earlier today, which became a new 14-month low. SOL has dumped by over 7%, HYPE has plummeted by 9%, while ADA is down by another 16% after Cardano’s founder, Charles Hoskinson, said he would be taking a break. Bitcoin dumped to $61,000 earlier today, but managed to rebound by almost $2,000. The altcoins’ massacre, though, has helped its recovery in terms of market share. Bitcoin’s dominance, the index that shows how much of the total market cap belongs to BTC, has risen by over 0.5% in just a day after it had dumped from 58% to 55.5% in a week. The overall liquidation data shows that more than 255,000 over-leveraged traders have been wrecked in the past 24 hours, with total wipe-out value of $1.21 billion. Longs are once again responsible for the lion’s share with $935 million. Liquidation Data June 5 on CoinGlass The post Altcoin Massacre Triggers $1.2B in Liquidations as ETH Tanks Below $1.7K and ZEC Gets Smashed appeared first on CryptoPotato .

5 Jun 2026, 08:05

BitForex Founder Cashes In on Zcash Crash With $16.48M Short Profit

BitcoinWorld BitForex Founder Cashes In on Zcash Crash With $16.48M Short Profit The founder of the collapsed cryptocurrency exchange BitForex has quietly amassed a substantial unrealized profit of $16.48 million by betting against Zcash (ZEC) during its recent price collapse, according to on-chain data. The trade highlights how market turmoil can create outsized gains for well-positioned traders, even as the broader crypto community reels from a critical security vulnerability. A Short Bet Against Zcash On-chain analyst ai_9684xtpa identified the position held by Garrett Jin, the founder of BitForex, on the decentralized perpetual exchange Hyperliquid (HYPE). The 3x leveraged short position on ZEC has yielded a return of 137.8% from an average entry price of $626.47. As of the latest data, the unrealized profit stands at $16.48 million (approximately 25.4 billion won), making Jin’s address the top account on Hyperliquid for unrealized profits from ZEC positions. The Bug That Broke Zcash The sharp decline in Zcash’s price followed the disclosure of a critical vulnerability in its Orchard protocol. The bug, described as an infinite minting flaw, allowed for the potential creation of unlimited ZEC tokens. While the vulnerability was reportedly patched before any exploitation, the news shattered market confidence, sending the token’s price into a steep decline. This created a perfect environment for short sellers like Jin to profit. Context and Implications The story carries multiple layers of significance. First, it underscores the extreme volatility and risk inherent in the cryptocurrency market, where a single security disclosure can trigger a double-digit percentage price drop. Second, it highlights the ongoing saga of BitForex, a platform that collapsed under allegations of fraud, leaving users unable to withdraw funds. The fact that its founder is now profiting from market events adds a layer of irony and raises questions about the movement of funds from the defunct exchange. Hyperliquid, the platform where the trade was executed, has gained traction as a venue for high-stakes leveraged trading, but this event also brings attention to the transparency of on-chain positions. The data provides a rare, real-time look at how large players are positioning themselves during market dislocations. Conclusion Garrett Jin’s $16.48 million short position on Zcash is a stark example of how informed traders can capitalize on market panic. While the Zcash team has addressed the Orchard bug, the reputational damage may linger. For readers, this event serves as a reminder of the importance of on-chain monitoring and the unpredictable nature of cryptocurrency markets, where a single exploit announcement can create winners and losers in equal measure. FAQs Q1: Who is Garrett Jin? Garrett Jin is the founder of BitForex, a cryptocurrency exchange that collapsed in 2023 amid allegations of fraud and mismanagement, leaving users unable to withdraw their funds. Q2: What caused the Zcash price crash? The price of Zcash dropped sharply after a critical vulnerability known as an infinite minting bug was disclosed in its Orchard protocol. Although patched, the news eroded market confidence. Q3: What is Hyperliquid? Hyperliquid (HYPE) is a decentralized perpetual exchange that allows users to trade with leverage. It has become popular for its on-chain transparency and high liquidity. This post BitForex Founder Cashes In on Zcash Crash With $16.48M Short Profit first appeared on BitcoinWorld .

5 Jun 2026, 08:02

Expert Says XRP Is 100% Undervalued Right Now. Here’s why

XRP may appear stagnant on the surface, but according to crypto investors and traders at Cheeky Crypto, several underlying market indicators suggest a very different story. In an X post and accompanying video analysis, the group argued that XRP is currently “100% undervalued,” citing an extraordinary divergence between declining retail market activity and growing institutional participation. The post highlighted a sharp decline in available trading liquidity, noting that XRP’s market depth has fallen to its lowest level since January 2020. At the same time, Cheeky Crypto noted that activity in institutional markets, particularly through CME futures products, continues to rise. According to the analysis, this combination could signal that important structural changes are taking place behind the scenes despite the asset’s relatively subdued price performance. XRP is 100% UNDERVALUED right now Something highly unusual is happening right now behind the scenes of one of the largest digital assets in existence. Available trading lifeblood has collapsed to a terrifying six year low, mirroring conditions from early January 2020. The actual… pic.twitter.com/ix9oQ8Sm0F — Cheeky Crypto (@CheekyCrypto) June 3, 2026 Liquidity Metrics Reach Multi-Year Lows In the video, Cheeky Crypto focused heavily on market liquidity, describing it as the “lifeblood” of trading activity. The analysis pointed to Binance’s 30-day liquidity index, which reportedly dropped to 0.043. By comparison, the same metric remained above 3 for much of the period between 2022 and 2024 and frequently exceeded 4 during periods of heightened market activity. According to Cheeky Crypto, such a decline indicates that buy and sell orders capable of absorbing large trades have largely disappeared from public order books. The group argued that this leaves the market vulnerable to significant price swings, as even relatively modest trading activity could have a much larger impact on price than under normal market conditions. The video suggested that the reduction in liquidity reflects a sharp slowdown in retail participation, with speculative capital no longer entering public exchanges at previous levels. On-Chain Data Suggests Investor Pain Cheeky Crypto also cited analytics platform Santiment, claiming that the average active XRP trader over the past 30 days is currently facing losses of roughly 47%. The analysis referenced the Market Value to Realized Value (MVRV) ratio, a metric often used to measure the average profitability of market participants. According to the video, XRP’s 30-day MVRV has fallen to its lowest level since December 2020. Cheeky Crypto argued that historically, deeply negative MVRV readings have coincided with periods when speculative excess has been removed from the market, and weaker participants have exited their positions. Based on these indicators, the group concluded that XRP is significantly undervalued relative to historical patterns, despite continued weakness in its price chart. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Institutional Activity Tells a Different Story While retail sentiment remains subdued, Cheeky Crypto argued that institutional participation appears to be moving in the opposite direction. The video highlighted growth in CME crypto futures trading, citing $62.87 billion in notional trading volume during the first year and a reported 46% year-over-year increase in average daily crypto volume during 2026. According to the analysis, institutional investors typically do not rely on public spot-market order books for large transactions. Instead, they often use regulated derivatives markets and over-the-counter trading desks, allowing substantial positions to be accumulated without creating visible disruptions on retail exchanges. Cheeky Crypto suggested that this separation between public and institutional markets may explain why XRP’s price has remained relatively stable despite signs of growing professional-market activity. The video concluded that XRP is currently experiencing a rare combination of low liquidity, negative investor sentiment, and increasing institutional participation. Cheeky Crypto argued that such conditions can create the foundation for significant price volatility if a major catalyst emerges. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Expert Says XRP Is 100% Undervalued Right Now. Here’s why appeared first on Times Tabloid .

5 Jun 2026, 08:00

Bitcoin Price In ’Vulnerable Position’ As 2022 Playbook Repeats – Is $54,000 Next?

While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point. Related Reading: Zcash Fixes Critical Orchard Vulnerability As ZEC Holds $600 Support Bitcoin Tags Key 200‑Week SMA After Four Years After falling 15% over the past four days, Bitcoin is attempting to reclaim the $64,000 level as support. The flagship crypto had been trading between $64,000-$82,000 since the early February crash, holding above the upper half of the range for nearly two months. However, this week’s broader volatility pushed BTC toward the range’s lower boundary for the first time in months, reaching a four-month low of $61,383 on Wednesday night. Amid this performance, market observer Rekt Capital highlighted that the cryptocurrency had tagged the 200-week Simple Moving Average (SMA) for the first time in this bear cycle, which may signal that another correction is coming. As he explained, deviation below this SMA has “historically been the key to building out a Bear Market bottom formation.” In June 2022, Bitcoin reached this level during its bear market correction, quickly losing it as support on the weekly timeframe. Following the initial drop below the 200-week SMA, the leading crypto traded sideways, briefly retesting this level before continuing its descent to its late 2022 bear market bottom. Now, BTC has reached this key SMA nearly four years later, suggesting a drop to new lows if the 2022 playbook repeats. The analyst noted that Bitcoin has been rejected from a critical area and has broken a key level, another similarity to past bear market corrections. According to the post, BTC was rejected from the base of the Macro Triangle after failing to break past the $82,500 area, revisited the 50-Month EMA during the recent drop, and is currently breaking down from this EMA, a setup that has repeated each cycle before the market bottom. BTC’s $60,000 Support About To Give In? Rekt Capital pointed out that Bitcoin rallies from the $60,000 region have progressively weakened since 2024, signaling deteriorating support. While the price surged 113% from this area during the mid-2024 rally, the February 2026 retest only generated a 38% move. Now, the cryptocurrency has bounced 4% so far, “but it’s very likely that the rebound from here will be even weaker,” the analyst stated, adding that the “$60,000 area will be completely lost as support over time.” He also stated that during bear markets, Bitcoin tends to form multi-month price clusters, followed by new Macro Lower Highs before distributing from the clusters to reach new lows. “The good news is there are 1-2 such clusters left in this Bitcoin Bear Market, with the Bear Market Bottom being the final cluster,” he concluded. Related Reading: Ethereum Ready For The ‘Final Dip’? Analysts Call For New Lows As Price Retests $1,900 Meanwhile, Ali Martinez affirmed that the recent breakdown from the $72,000 support has left Bitcoin “in a vulnerable position,” as it opens the door for a 25%-30% correction based on the MVRV Pricing Bands. The analyst previously noted that Bitcoin has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands over the past decade. Now, the next major area of support is between $54,000 and $50,000, where the 1.0 pricing band is located. Featured Image from Unsplash.com, Chart from TradingView.com

5 Jun 2026, 08:00

Record Retail Buying Cannot Push Ethereum Higher – Someone Bigger Is On The Other Side

Ethereum is struggling below $1,800 as selling pressure and uncertainty keep the price well below the levels that defined the earlier phases of this cycle’s recovery. The decline has been persistent rather than sudden — and CryptoQuant data has surfaced a combination of on-chain signals that reveals the behavioral dynamic beneath the price action in a way that challenges both the straightforward bullish and bearish readings currently circulating. The analysis examines three indicators simultaneously — Accumulating Retail Addresses, SOPR, and NUPL — to build a picture of market psychology rather than price mechanics. What that picture reveals is a market caught between two forces pulling in opposite directions. Retail accumulation of Ethereum has surged to near-record levels in late 2025 and early 2026. The instinctive interpretation of that surge is bullish — more buyers at lower prices should support recovery. But the historical context the CryptoQuant data provides complicates that reading immediately. The strongest retail buying activity has historically appeared during the later stages of market cycles, at precisely the moments when larger participants are beginning to distribute their holdings into that demand. Record retail accumulation is not automatically a bullish signal. It depends entirely on who is on the other side of those purchases. SOPR hovering near 1.0 for an extended period adds the second layer of fragility. Investors are neither realizing meaningful profits nor experiencing significant losses — a neutral state that reflects limited fresh capital entering the market and a price structure that has not yet resolved in either direction. When SOPR stays at this level for too long, the market becomes vulnerable to the specific kind of breakdown that loss-driven selling pressure produces. A Market That Cannot Find Its Floor The CryptoQuant analysis adds the NUPL dimension that completes the bearish case without making it absolute. Unrealized profits across the Ethereum holder base have declined meaningfully from cycle highs — but they remain above the extreme levels recorded during the 2018 and 2022 bear markets. That distance from the historical floor means additional selling pressure remains possible if sentiment continues deteriorating. The worst has not yet been priced in from a profitability exhaustion perspective. The most alarming signal in the analysis is the accumulation-price divergence. Retail investors are buying Ethereum aggressively while market strength remains weak. When exceptional demand growth fails to produce price appreciation, the explanation is almost always the same: significant selling pressure on the other side systematically absorbing every retail purchase. Whales appear to be distributing into the strongest retail buying the market has seen in years. Binance User Deposit Addresses remaining below previous bull market peaks provide the partial offset that prevents the picture from being entirely bearish. Many ETH holders are still holding rather than sending coins to exchanges — a behavior that is slowing the pace of the decline rather than stopping it. The forward risk the report identifies is specific and conditional. SOPR breaking below 1.0 would confirm that investors are predominantly selling at a loss — the trigger for loss-driven selling pressure that has historically accelerated Ethereum’s most damaging declines. Combined with a weakening NUPL, that combination would remove the remaining buffer between the current price structure and the kind of capitulation the 2018 and 2022 bear markets ultimately required before genuine bottoms formed. Ethereum Breaks Below Critical Support Ethereum remains under heavy selling pressure after decisively losing the $1,800–$1,850 support region that had acted as the final line of defense since February. The daily chart shows a clear breakdown from a multi-month distribution range, with ETH trading near $1,760 after a sharp rejection from the $2,300 resistance zone that capped every recovery attempt throughout April and May. The technical damage is significant. Price has now fallen below all major moving averages, with the 50-day, 100-day, and 200-day trends aligned bearishly. More importantly, ETH has broken beneath the lower boundary of the consolidation structure that contained price action for nearly four months. Volume has expanded during the decline, suggesting conviction from sellers rather than a temporary liquidity event. The next major area of interest sits between approximately $1,700 and $1,750. This zone marks the lower edge of the chart’s current demand region and represents the final significant support before Ethereum risks revisiting the February capitulation lows. Bulls will need to defend this area aggressively to prevent a deeper correction. On the upside, the former support zone around $1,850–$1,900 now becomes immediate resistance. Any recovery attempt must first reclaim that level before a move toward $2,050 becomes realistic. Until then, the trend remains firmly bearish, with lower highs, lower lows, and deteriorating momentum continuing to favor sellers despite increasingly oversold conditions. Featured image from ChatGPT, chart from TradingView.com