hodler

8 Jun 2026, 00:59

Bitcoin Price Fights Back—Is The Worst Finally Over?

Bitcoin price started a recovery wave above the $62,000 zone. BTC is consolidating and might aim for more gains if it clears the $64,500 resistance zone. Bitcoin managed to form a base above $60,000 and started a recovery wave. The price is trading above $62,500 and the 100 hourly simple moving average. There was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it settles above the $64,500 zone. Bitcoin Price Eyes Fresh Gains Bitcoin price remained supported above the $60,000 zone . BTC formed a base and settled above $61,200 to start a recovery wave. There was a move above the $62,000 and $62,200 levels. Besides, there was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. However, the bears are active near $64,000. Bitcoin is now trading above $62,500 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance is near the $64,500 level. The first key resistance is near the $65,000 level. A close above the $65,000 resistance might send the price further higher. In the stated case, the price could rise and test the $66,500 resistance or the 50% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $70,000. Another Decline In BTC? If Bitcoin fails to rise above the $64,500 resistance zone, it could start another decline. Immediate support is near the $62,800 level. The first major support is near the $62,500 level. The next support is now near the $62,000 zone. Any more losses might send the price toward the $61,500 support in the near term. The main support now sits at $61,200, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $62,500, followed by $62,000. Major Resistance Levels – $64,500 and $66,500.

8 Jun 2026, 00:55

Wallets Linked to BitForex Founder Garrett Jin Accumulate $236M in Binance Life Tokens

BitcoinWorld Wallets Linked to BitForex Founder Garrett Jin Accumulate $236M in Binance Life Tokens On-chain analytics firm EmberCN has identified a cluster of cryptocurrency wallets linked to Garrett Jin, the founder of the now-defunct and fraudulent exchange BitForex, that have accumulated approximately 288 million Binance Life tokens. At current market prices, the holdings are valued at roughly $236 million. On-Chain Evidence and Accumulation Timeline According to EmberCN’s blockchain analysis, the wallets acquired 61.09 million of those tokens within the past seven days alone. The tokens were sourced from major platforms, including the Binance centralized exchange and the decentralized exchange PancakeSwap (CAKE). The accumulation pattern suggests a coordinated effort, with funds moving through multiple addresses before settling. The development comes amid a dramatic price surge for the Binance Life token, which has increased approximately twentyfold over the last two months. This rapid appreciation has drawn attention from both traders and security researchers, who are now scrutinizing the token’s distribution and holder base. Context: BitForex’s Collapse and Garrett Jin’s Role Garrett Jin was the founder of BitForex, a cryptocurrency exchange that abruptly halted user withdrawals in early 2024. The exchange subsequently collapsed, leaving users unable to access their funds. Investigations later revealed that BitForex had engaged in fraudulent activities, including the misappropriation of user assets. Jin’s current whereabouts and legal status remain unclear, adding a layer of complexity to the new on-chain findings. Implications for Market Integrity The connection between a figure associated with a major exchange failure and a large, concentrated position in a rapidly appreciating token raises questions about market manipulation and investor protection. While the Binance Life token itself is not directly tied to BitForex, the accumulation by wallets linked to Jin introduces significant counterparty risk for other holders. If Jin were to liquidate a substantial portion of his position, it could trigger severe price volatility. This case also highlights the growing utility of on-chain analytics in uncovering relationships between wallet addresses and real-world entities, even after those entities have ceased operations. For regulators and exchanges, it underscores the challenge of monitoring post-collapse fund movements and preventing the re-entry of bad actors into the ecosystem. Conclusion The accumulation of $236 million in Binance Life tokens by wallets tied to Garrett Jin represents a significant on-chain development. It connects a known figure from a fraudulent exchange collapse to a large, concentrated position in a volatile token market. Investors and market participants should be aware of the potential risks associated with this concentration, as well as the broader implications for transparency and accountability in the cryptocurrency space. FAQs Q1: Who is Garrett Jin? Garrett Jin is the founder of BitForex, a cryptocurrency exchange that collapsed in 2024 after halting user withdrawals. The exchange was later found to have engaged in fraudulent activities. Q2: What is Binance Life? Binance Life is a cryptocurrency token that has experienced a significant price increase over the past two months. It is not directly affiliated with the Binance exchange beyond its name. Q3: Why is this accumulation significant? The wallets linked to Jin hold a large, concentrated position in the token. This concentration poses a risk to other holders, as a potential sell-off by Jin could cause sharp price declines. It also raises questions about market integrity given Jin’s history. This post Wallets Linked to BitForex Founder Garrett Jin Accumulate $236M in Binance Life Tokens first appeared on BitcoinWorld .

8 Jun 2026, 00:35

How to Read the BTC/USDT Spot CVD Chart: Volume Heatmap and Order Flow by Trade Size

BitcoinWorld How to Read the BTC/USDT Spot CVD Chart: Volume Heatmap and Order Flow by Trade Size For traders monitoring Bitcoin price action on spot exchanges, the BTC/USDT Cumulative Volume Delta (CVD) chart offers a granular view of order flow that goes beyond simple price and volume bars. By breaking down buy and sell pressure by trade size, the indicator helps identify where large participants are active and which price levels may act as support or resistance. Understanding the Volume Heatmap The top section of the CVD chart displays a Volume Heatmap that tracks executed trades at specific price levels. When the price lingers in a narrow range or moves sharply through a zone, the heatmap brightens, indicating concentrated trading activity. These brighter areas often serve as technical inflection points: a price level with high historical volume may act as support during a pullback or as resistance during an advance. Traders watch for the heatmap to confirm whether a breakout or breakdown is backed by genuine order flow. Order Flow by Trade Size The lower panel of the chart plots the Cumulative Volume Delta, but with a key distinction: buy and sell orders are categorized by trade size rather than aggregated into a single line. For example, a yellow line may represent orders between $100 and $1,000, while a brown line tracks large orders between $1 million and $10 million. As buy orders accumulate, the corresponding colored line rises; as sell orders dominate, it falls. This segmentation allows traders to see whether retail-sized orders or institutional-sized orders are driving the current move. A price rally accompanied by a rising brown line (large orders) suggests strong institutional buying, while a rally driven only by the yellow line may lack conviction. Divergences between the price and the large-order CVD line can signal an impending reversal. Why This Matters for Bitcoin Traders Standard volume indicators show total activity but not the composition of that activity. The CVD chart by trade size fills that gap. It helps traders distinguish between noise and meaningful order flow, particularly during low-liquidity periods or around key economic events. For swing traders and intraday operators, this data can improve entry and exit timing by revealing when large players are accumulating or distributing. It is important to note that CVD data reflects order flow on a single spot exchange and may not represent the broader market. Cross-exchange analysis or combined perpetual futures CVD can provide a more complete picture. Conclusion The BTC/USDT spot CVD chart with trade-size segmentation is a practical tool for traders who want to see beyond price action. The Volume Heatmap highlights levels of prior interest, while the segmented CVD lines reveal whether retail or institutional participants are driving the trend. Used alongside other technical tools, it adds a layer of order-flow context that can sharpen trading decisions. FAQs Q1: What does CVD stand for in crypto trading? CVD stands for Cumulative Volume Delta. It tracks the net difference between buying and selling volume over time, showing whether aggressive buying or selling is dominating the market. Q2: How is the Volume Heatmap different from standard volume bars? The Volume Heatmap displays volume at specific price levels across a time range, using color intensity to show where trading activity is concentrated. Standard volume bars show total volume per time period but not the exact price levels where trades occurred. Q3: Can CVD predict price reversals? CVD alone does not predict reversals, but divergences between price and CVD—especially in the large-trade-size lines—can warn that the current trend is losing institutional support, which often precedes a reversal. This post How to Read the BTC/USDT Spot CVD Chart: Volume Heatmap and Order Flow by Trade Size first appeared on BitcoinWorld .

8 Jun 2026, 00:15

Peter Schiff Compares Bitcoin Investors to Cult Fanatics in Blistering Social Media Exchange

BitcoinWorld Peter Schiff Compares Bitcoin Investors to Cult Fanatics in Blistering Social Media Exchange Peter Schiff, the longtime gold advocate and CEO of Euro Pacific Capital, has once again ignited debate within the cryptocurrency community by likening most Bitcoin investors to irrational cult fanatics. In a post on X (formerly Twitter), Schiff shared results from a poll he conducted, arguing that the responses reveal a deep-seated, almost religious devotion to the digital asset that defies logical market analysis. The Poll That Sparked the Controversy Schiff asked his followers a pointed question: how much lower would Bitcoin’s price need to fall for them to concede his long-held view that Bitcoin is a scam. Out of 16,070 respondents, a striking 59% chose the option ‘zero,’ indicating that no price drop—even a complete collapse to $0—would change their belief. Schiff interpreted this as evidence of an unshakable, cult-like mindset, rather than a rational investment thesis. He went further, stating that most investors would still insist he was wrong even in a hypothetical scenario where Bitcoin’s price dropped over 99%, MicroStrategy (MSTR) was forced into bankruptcy, and the majority of crypto companies failed. ‘This is not investing. This is a cult,’ Schiff wrote. Context and Implications for the Crypto Market Schiff’s comments are not new; he has been a vocal critic of Bitcoin for years, often contrasting it with gold, which he views as a stable store of value. However, his latest remarks come at a time when Bitcoin’s price has shown renewed volatility, and institutional adoption, while growing, remains a subject of intense debate. His specific reference to MicroStrategy is noteworthy. The business intelligence firm, led by Michael Saylor, holds a massive Bitcoin treasury, making it a bellwether for corporate crypto exposure. Schiff argued that a drop to just $20,000 would be enough to bankrupt MicroStrategy and throw the entire industry into crisis. While this is a hypothetical scenario, it highlights the leverage and risk inherent in companies that have bet heavily on Bitcoin’s continued appreciation. Why This Matters to Investors The exchange between Schiff and the crypto community underscores a fundamental divide in how different investor groups assess value. For Schiff, an asset must have intrinsic, tangible utility—like gold’s industrial and jewelry applications. For many Bitcoin proponents, the value lies in its decentralized network, fixed supply, and potential as a hedge against fiat currency debasement. This debate is not merely academic. It influences market sentiment, regulatory discussions, and the risk profiles of portfolios that include cryptocurrency. Understanding both sides of the argument is crucial for any investor looking to navigate the space without falling prey to groupthink or confirmation bias. Conclusion Peter Schiff’s latest broadside against Bitcoin investors serves as a stark reminder of the deep ideological chasm that exists in the financial world. While his characterization of investors as cult fanatics is deliberately provocative, the poll results he cites do raise legitimate questions about the role of conviction versus critical thinking in investment decisions. Whether one agrees with Schiff or not, his challenge to the crypto community is a useful stress test for any investor’s thesis. FAQs Q1: Who is Peter Schiff? Peter Schiff is an American financial commentator, stockbroker, and CEO of Euro Pacific Capital. He is a well-known advocate for investing in gold and a long-time critic of Bitcoin and other cryptocurrencies. Q2: What was the result of the poll Schiff conducted? Out of 16,070 respondents, 59% said that no drop in Bitcoin’s price—even to $0—would make them concede that Bitcoin is a scam. Schiff used this to argue that Bitcoin investors exhibit cult-like behavior. Q3: Why did Schiff mention MicroStrategy in his post? MicroStrategy is one of the largest corporate holders of Bitcoin. Schiff argued that a significant price drop, such as to $20,000, would bankrupt the company and destabilize the broader crypto industry, highlighting the risks of leveraged exposure to Bitcoin. This post Peter Schiff Compares Bitcoin Investors to Cult Fanatics in Blistering Social Media Exchange first appeared on BitcoinWorld .

7 Jun 2026, 23:40

Futures Liquidations Surge: $279 Million Wiped Out in One Hour as Market Volatility Spikes

BitcoinWorld Futures Liquidations Surge: $279 Million Wiped Out in One Hour as Market Volatility Spikes Major cryptocurrency exchanges recorded approximately $279 million in futures liquidations within a single hour, according to market data, as a sudden wave of selling pressure hit leveraged positions across digital asset markets. The one-hour figure contributed to a broader 24-hour total of $665 million in liquidations, marking one of the more aggressive deleveraging events in recent weeks. Liquidation Data and Market Context The liquidation spike, tracked across exchanges including Binance, OKX, and Bybit, primarily affected long positions — traders betting on rising prices — as an abrupt price decline triggered cascading margin calls. Data from Coinglass shows that over 80% of the liquidated positions were long contracts, indicating that the market was caught off-guard by the speed and depth of the move. Bitcoin, Ethereum, and several major altcoins experienced sharp intraday losses, with Bitcoin briefly dipping below key support levels before partially recovering. Implications for Traders and Market Structure Events of this magnitude serve as a reminder of the risks inherent in leveraged trading, particularly in cryptocurrency markets where volatility can amplify losses rapidly. For retail and institutional participants alike, the liquidation cascade underscores the importance of risk management, position sizing, and the use of stop-loss orders. From a market structure perspective, large liquidation events can create feedback loops — falling prices trigger forced selling, which in turn drives prices lower — temporarily exacerbating downside moves. Analysts often view such wipeouts as potential capitulation events, which can sometimes precede a stabilization or reversal, though no such pattern is guaranteed. Why This Matters to Readers For traders and investors holding leveraged positions, this event highlights the current fragility of market sentiment and the speed at which conditions can change. For those observing the broader market, liquidation data provides a real-time gauge of speculative excess and risk appetite. When large volumes of leveraged positions are cleared, it often reduces the potential for further sharp declines in the near term, but it also signals that the market is in a heightened state of uncertainty. Understanding these dynamics helps market participants make more informed decisions about their own exposure and strategy. Conclusion The $279 million one-hour liquidation event, part of a $665 million 24-hour total, reflects a sudden and forceful repricing of risk in cryptocurrency derivatives markets. While such events are not uncommon, their scale and speed demand attention from anyone active in digital asset trading. As always, market conditions remain fluid, and participants should approach leveraged positions with caution. FAQs Q1: What does ‘futures liquidation’ mean? A: Futures liquidation occurs when a trader’s position is forcibly closed by an exchange because the margin (collateral) in their account has fallen below the required maintenance level due to adverse price movements. This typically happens when a trade moves against the leveraged position. Q2: Why do large liquidations happen in a short time? A: Large liquidations often occur in a cascade. When prices drop quickly, multiple leveraged positions hit their liquidation thresholds simultaneously. The forced selling from these liquidations can push prices down further, triggering even more liquidations in a rapid chain reaction. Q3: Does a large liquidation event mean the market will recover? A: Not necessarily. While some analysts view large liquidation events as a form of ‘capitulation’ that can clear out weak hands and potentially set the stage for a recovery, markets can also continue to decline. Liquidation data is one indicator among many and should not be used in isolation to predict future price movements. This post Futures Liquidations Surge: $279 Million Wiped Out in One Hour as Market Volatility Spikes first appeared on BitcoinWorld .

7 Jun 2026, 23:25

BitForex Founder Nets $11.24M Profit from Zcash Short After Exploit-Driven Crash

BitcoinWorld BitForex Founder Nets $11.24M Profit from Zcash Short After Exploit-Driven Crash Garrett Jin, the founder of the now-defunct cryptocurrency exchange BitForex, has closed a substantial short position on Zcash (ZEC), securing a profit of approximately $11.24 million, according to blockchain analytics firm Lookonchain. The trade capitalized on a dramatic price decline triggered by the discovery of a critical security vulnerability within Zcash’s network. How the Trade Unfolded On-chain data reveals that Jin’s short position was opened prior to a sharp drop in ZEC’s price last week. The decline followed the disclosure of an infinite minting bug associated with Zcash’s Orchard upgrade, which allowed for the potential creation of tokens out of thin air. The news sent ZEC plummeting to a low of approximately $250 on Binance before a partial recovery to its current trading level near $435. At the peak of the price collapse on June 5, Jin’s unrealized profit on the position was estimated at $21.5 million. However, he ultimately closed the trade for roughly half that amount, booking a realized gain of $11.24 million as the token rebounded from its lows. Context: BitForex’s Troubled History BitForex was once a prominent cryptocurrency exchange, but its reputation was severely damaged after it abruptly halted user withdrawals in early 2024. The platform was subsequently revealed to be insolvent, with millions of dollars in user funds missing. Jin, who is reportedly based in Hong Kong, has been the subject of intense scrutiny from regulators and law enforcement agencies. The exchange’s collapse left thousands of users unable to access their assets, marking one of the more notable fraud cases in the industry. Jin’s ability to execute large, profitable trades while being associated with a fraudulent platform raises further questions about the movement of funds and the lack of accountability in the crypto space. Implications for Zcash and the Market The incident has cast a spotlight on the risks associated with protocol-level bugs, even in well-established cryptocurrencies like Zcash. While the infinite minting bug was patched before it could be exploited, the market’s reaction demonstrates how quickly sentiment can shift on security concerns. For Zcash, which prides itself on privacy and security, the incident is a reputational setback. For the broader market, the trade serves as a reminder of how insiders with access to capital and information can profit from volatility, especially when it involves distressed assets or platforms. Conclusion Garrett Jin’s $11.24 million profit from a short position on Zcash is a direct consequence of a security-driven market panic. While the trade itself is a notable financial event, it is embedded in a larger narrative of a fraudulent exchange founder continuing to operate within the crypto ecosystem. The story underscores the persistent challenges of market integrity, security vulnerabilities, and regulatory gaps in the digital asset industry. FAQs Q1: Who is Garrett Jin? Garrett Jin is the founder of BitForex, a cryptocurrency exchange that collapsed in 2024 after halting user withdrawals, leaving customers unable to access their funds. He is currently under regulatory scrutiny. Q2: What was the Zcash bug? The bug was an infinite minting vulnerability found in Zcash’s Orchard upgrade. It could have allowed an attacker to create an unlimited number of ZEC tokens. It was patched before any exploitation occurred. Q3: How did Lookonchain track this trade? Lookonchain is a blockchain analytics firm that monitors on-chain wallet activity. It identified the wallet associated with Jin and tracked the opening, unrealized gains, and eventual closing of the ZEC short position. This post BitForex Founder Nets $11.24M Profit from Zcash Short After Exploit-Driven Crash first appeared on BitcoinWorld .