hodler

3 Jun 2026, 14:30

Here’s Why The Bitcoin Price Is Crashing And What To Expect Next

The Bitcoin price has suffered a significant crash, falling from above the psychological $70,000 this week. Crypto pundit Nobler cited why the leading crypto was crashing, while analyst Chiefy revealed what to expect next from BTC. Why The Bitcoin Price Is Crashing In an X post, Nobler revealed that the USDT issuer Tether was liquidating some of its BTC holdings, which was contributing to the Bitcoin price crash. He noted that this was the first time they had sold directly from their BTC reserve wallet. The pundit added that things were not looking good for crypto. Related Reading: Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000 On-chain data showed that Tether moved 204 BTC from its wallet to the Bitfinex exchange, sparking concerns of a sell-off. Tether is among a host of entities believed to have dumped BTC recently, sparking the Bitcoin price crash. The defunct crypto exchange Mt. Gox also transferred 10,422 BTC, worth almost $740 million. Furthermore, Bitcoin ETFs are contributing to the massive sell-off in BTC, with these funds on a 12-day streak of net outflows. They recorded a net outflow of $519 million yesterday, according to SoSoValue data. During these 12 days, these funds also recorded a net outflow of $733 million on May 27. Meanwhile, it is worth noting that the Bitcoin price crash began earlier this week, as Michael Saylor’s Strategy revealed in its SEC filing that it had sold 32 BTC. This was the first time that the Bitcoin treasury firm had sold BTC since 2022. This has raised concerns about what this could mean and how much more BTC the company could sell moving forward. The Bitcoin price has also crashed due to macro factors such as the U.S.-Iran war, with a peace deal looking unlikely anytime soon. BTC is also battling for liquidity amid upcoming IPOs, such as Elon Musk’s SpaceX, which is expected to go public this year. What Is Next For BTC In an X post, crypto analyst Chiefy, who had predicted the Bitcoin price crash to $67,000, revealed what is next for BTC. He stated that a relief bounce would come next, giving market participants false hope before an even bigger leg down. The analyst added that structurally, this is one of the weakest setups that BTC has seen in this bear cycle. The analyst’s accompanying chart showed that the Bitcoin price could still crash to as low as $60,000, reaching its February low. Crypto analyst Tony echoed a similar sentiment, predicting that BTC could still drop to $60,000, although he expects a short-term relief bounce. Related Reading: Bitcoin Trend That Has Held For 15 Years Shows When To Expect The Bottom And When $400,000 Will Happen At the time of writing, the Bitcoin price is trading at around $66,700, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com

3 Jun 2026, 13:25

Bitcoin Potential Near-Term Bullish Reversal Emerging From The Sub-$70K Plunge

Summary Bitcoin plunged 16% over the past two weeks and briefly fell below the US$70,000 psychological level after MicroStrategy’s partial Bitcoin sale shattered the long-standing "never sell" narrative that had supported market sentiment. Despite the sharp decline, several contrarian indicators suggest selling pressure may be nearing exhaustion, including an extremely oversold daily RSI reading, a surge in long-position liquidations, and signs of renewed accumulation by long-term holders. Technical and on-chain metrics indicate the potential for a near-term bullish reversal above the key US$62,250 support level, with upside targets at US$74,880 and US$82,815 if buying momentum returns. By Kelvin Wong The plunge and its fundamental catalysts On Monday and Tuesday (June 1-2, 2026), the cryptocurrency market absorbed a significant psychological blow. Spot BTC/USD tumbled sharply, slipping below the $70,000 psychological threshold and falling 16% over the past two weeks. It printed an intraday low of $65,370 on Wednesday, June 3, 2026. The dominant driver of this week’s movement was the revelation that Strategy ( MSTR ), the world’s largest corporate holder of Bitcoin, sold a portion of its holdings for the first time in four years. While the market impact is less about the absolute volume of the sale and more about the erosion of consensus, it effectively shattered founder Michael Saylor’s widely echoed “never sell” iron law. This pivot disrupted the pricing anchor the market had historically relied on, injecting uncertainty and triggering a wave of defensive selling. Technical and on-chain analysis suggesting a setup for a bullish reversal Fig. 1: Bitcoin (BTC/USD) medium-term trend as of June 3, 2026 (Source: TradingView) The information presented is historical information, and past performance is not indicative of future performance. The 16% plunge in BTC/USD has left it hovering just above its $62,250 key medium-term pivotal support and the lower boundary of its long-term secular ascending channel running from the December 2018 low. In addition, the daily RSI momentum indicator hit a significant oversold level of 21.8 on Tuesday, June 2, 2026, its lowest since February 5, 2026, triggering a 35% rally in BTC/USD over the next three months. Secondly, utilising TradingView’s crypto derivatives indicators for crypto futures and perpetual swaps, such as from Bybit, Binance, and OKX. Aggregated long liquidation data (derived from various exchanges) spiked to $482 million on Tuesday, June 2, 2026, indicating that many leveraged long positions in Bitcoin futures and perpetual swaps were forced closed due to margin calls. A similar rise in long liquidations ($481 million) also occurred on February 5, 2026, when capitulation led to a 35% rally in BTC/USD. Thirdly, on-chain indicator: the percentage of 1-year active supply for Bitcoin has declined steadily over the past three weeks, from 40.3% on April 23, 2026 to 39.3% on Wednesday, June 3, 2026, at the time of writing. Active supply 1-year measures the total number of unique cryptocurrency units that have moved at least once over the past one year. This metric tracks the portion of supply that has been involved in on-chain transactions during the trailing 365-day period. A decreasing active supply often signals accumulation by long-term holders, a bullish condition for Bitcoin in the current context. Hence, based on these factors, BTC/USD is now ripe for a potential near-term bullish reversal above the $62,250 key medium-term support, with intermediate resistance at $74,880. A clearance above it would signal a retest of the $82,815 medium-term resistance (also close to the 200-day moving average). On the other hand, a daily close below $62,250 invalidates the recovery scenario and extends the corrective decline towards the $57,590/52,590 long-term pivotal support zone. Original Post

3 Jun 2026, 13:24

Binance sets July 3, 2026 as NFT shutdown deadline! What are the details investors need to act on?

🚨 Binance ends all centralized NFT services on July 3, 2026! 🟢 Holders must move their $BNB NFT assets out before the deadline for continued access. 📄 Non-transferable certificate NFTs will be replaced by PDF documents. 💸 Early withdrawals receive a 1 USDC bonus per eligible transaction for a limited time. Continue Reading: Binance sets July 3, 2026 as NFT shutdown deadline! What are the details investors need to act on? The post Binance sets July 3, 2026 as NFT shutdown deadline! What are the details investors need to act on? appeared first on COINTURK NEWS .

3 Jun 2026, 13:08

CoinDesk 20 performance update: Bitcoin Cash (BCH) falls 10.7%, leading index lower

Binance Coin (BNB), down 3.4% from Tuesday, was also an underperformer.

3 Jun 2026, 13:02

Kraken parent Payward plans to offer tokenized IPO access as investors await blockbuster debuts

Payward aims to give retail investors access to IPO shares at the offering price through tokenized equities.

3 Jun 2026, 12:48

Bitcoin spot ETFs record 12 consecutive days of outflows

The United States spot Bitcoin ( BTC ) exchange-traded funds ( ETFs ) have registered 12 consecutive days of cash outflows. The U.S. spot Bitcoin ETFs have liquidated BTC valued at $3.97 billion over the past 12 days, according to data from SoSoValue analyzed by Finbold on June 3. As such, these funds hold approximately $85 billion in BTC at press time. Spot BTC ETF daily flow. Source: SoSoValue The notable outflow from U.S. spot BTC ETFs was due to a net sell-off by BlackRock’s iShares Bitcoin Trust ( IBIT ). Over the past 12 days, IBIT recorded a net cash outflow of around $2.939 billion. Consequently, IBIT held BTC valued at about $52.18 billion at the time of reporting. IBIT daily cash flow. Source: SoSoValue Additionally, the notable outflow from U.S. spot BTC ETFs over the past 12 days was driven by liquidations in the Fidelity Wise Origin Bitcoin Fund ( FBTC ). Notably, FBTC recorded a net cash outflow of nearly $403 million during this period, leaving it holding BTC worth $12.10 billion on Wednesday. FBTC daily cash flow. Source: SoSoValue Bitcoin price bleeds amid spot BTC ETFs sell-off Following significant Bitcoin outflows from U.S. spot ETFs, the flagship coin has faced heightened selling pressure. After being rejected at a supply level around $82,000 earlier last month, BTC price fell nearly 15% over 30 days, trading at $67,260 at the time of publication. BTC/USD 30-day chart. Source: Finbold As such, the near-term outlook for BTC price remains dependent on spot ETFs, led by IBIT. Earlier on Wednesday, BlackRock deposited 6,000 BTC, worth nearly $403 million, to Coinbase Prime, thereby signaling further sell-off ahead, based on metrics from Arkham Intelligence . However, if U.S. spot BTC ETFs resume accumulation, the flagship coin could rebound. The post Bitcoin spot ETFs record 12 consecutive days of outflows appeared first on Finbold .