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5 Jun 2026, 02:35
Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade
BitcoinWorld Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Pocket Network (POKT), effective June 9 at 10:00 a.m. UTC. The move is intended to support an upcoming network upgrade, according to an official statement from the exchange. Details of the Suspension Bithumb confirmed that the halt will apply to all POKT transactions on its platform, with the suspension beginning at the specified time on June 9. The exchange advised users to complete any pending deposits or withdrawals before the deadline to avoid delays. The suspension is expected to remain in effect until the network upgrade is completed and stability is confirmed. Bithumb has not yet provided a specific timeline for resumption, stating that further announcements will be made once the upgrade process is finalized. Understanding the Pocket Network Upgrade Pocket Network is a decentralized blockchain protocol designed to provide reliable and cost-effective infrastructure for Web3 applications. Network upgrades are routine events that introduce improvements in security, scalability, or functionality. During such upgrades, exchanges like Bithumb temporarily suspend token transactions to prevent errors, lost funds, or network inconsistencies. This is a standard industry practice observed across major trading platforms. What This Means for POKT Traders For traders holding POKT on Bithumb, the suspension means they will be unable to move tokens into or out of the exchange during the upgrade window. This could affect trading strategies, particularly for those who rely on quick arbitrage or transfers between exchanges. However, trading of POKT pairs on Bithumb is expected to continue as normal, unless otherwise specified. Users should monitor Bithumb’s official announcements for updates on the resumption of services. Conclusion Bithumb’s decision to suspend POKT deposits and withdrawals on June 9 is a precautionary measure to ensure a smooth network upgrade. While temporary, such suspensions are common in the cryptocurrency industry and reflect standard operational procedures. Traders are advised to plan accordingly and stay informed through official channels. FAQs Q1: Why is Bithumb suspending POKT deposits and withdrawals? Bithumb is suspending POKT transactions to support an upcoming network upgrade on Pocket Network. This prevents potential errors or lost funds during the upgrade process. Q2: When will the suspension start and how long will it last? The suspension begins on June 9 at 10:00 a.m. UTC. Bithumb has not announced a specific end time; services will resume once the upgrade is complete and network stability is confirmed. Q3: Can I still trade POKT on Bithumb during the suspension? Bithumb has indicated that trading of POKT pairs may continue as normal, but deposits and withdrawals will be unavailable. Users should verify the latest status on the exchange’s platform. This post Bithumb to Suspend POKT Deposits and Withdrawals on June 9 for Network Upgrade first appeared on BitcoinWorld .
5 Jun 2026, 02:30
Bitcoin Price Pain Isn’t Over Yet As Selling Pressure Persists
Bitcoin price started a fresh decline below the $65,000 zone. BTC is showing bearish signs and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $65,500 and extended losses. The price is trading below $64,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $65,000 and $65,500 levels. Bitcoin Price Extends Losses Bitcoin price failed to stay above the $66,500 support zone . BTC remained in a bearish zone and extended losses below the $65,000 level. There was a move below the $64,000 level. The price even dipped below $62,500. A low was formed at $61,255 and the price is still showing many bearish signs. It is below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low. Bitcoin is now trading below $64,000 and the 100 hourly simple moving average. If the price remains stable above $61,200, it could attempt a fresh increase. Immediate resistance is near the $63,200 level. There is also a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair. The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send the price toward the $65,500 level. The next barrier for the bulls could be $67,650 or the 50% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low. More Losses In BTC? If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support is near the $62,000 level. The first major support is near the $61,200 level. The next support is now near the $60,800 zone. Any more losses might send the price toward the $60,200 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $62,000, followed by $61,200. Major Resistance Levels – $64,000 and $65,500.
5 Jun 2026, 02:20
Ethereum funding rate flattens to near zero as traders pull back leverage
On June 4, Ether’s 8-hour network-wide average funding rate was only 0.0028%, according to CoinGlass. This low rate suggests traders were not very sure about the market’s direction. Usually, higher leverage shows that traders have more confidence in how an asset will move. This average considers all major exchanges, but the figures differ significantly from one platform to another. For instance, Binance had 0.0047%, OKX 0.003%, and Gate 0.0052%. Bybit surprisingly showed -0.0013%, according to ChainCatcher. These variations matter because they show there are no coordinated directional bets. Instead, it shows more fragmentation when funding rates are negative on one exchange and positive on others. How Ethereum funding rates reflect market sentiment and leverage demand Perpetual futures contracts do not have an expiry date. To prevent their price from drifting far from the spot price, exchanges use funding payments that transfer value between long and short holders at regular intervals (usually every eight hours). If the funding rate is positive, those with long positions pay those with short positions, and when it’s negative, the shorts pay up instead. According to CoinMarketCap’s glossary, this setup “incentivizes people to open a position on the less popular side, hence driving the price toward the spot price.” At a funding rate of 0.0028% per eight-hour window, that’s around 0.0084% daily, or about 3% annualized. This means the cost for holding leveraged long exposure on Ethereum isn’t much. According to CoinGlass, when the funding rate is near zero, it means there’s equal demand for both long and short positions in perpetual markets. Why ETH funding rates matter beyond crypto derivatives markets High funding rates in crypto markets impact everyone, not just professional traders. When they’re very positive, it gets expensive to hold leveraged long positions, dampening speculators’ interest in buying ETH. If rates surge, major sell-offs occur, causing wider price fluctuations and dragging down connected assets as well. At the current level, the risks aren’t huge. Bitget shows that at around 0.0035% rate, there was only a mild bias towards long positions, with no extreme beliefs. The current rate of 0.0028% is even milder and closer to neutral. The exchange-level disparity adds a layer of complexity for institutional participants and arbitrage desks. A negative rate on Bybit alongside positive rates elsewhere creates what CoinGlass describes as “cross-exchange differences” that can generate “carry or arbitrage opportunities.” Capital flowing to exploit those gaps affects the liquidity distribution across global trading venues. What ETH traders should monitor beyond funding rates A single eight-hour snapshot carries limited predictive weight. As CoinEx Academy says, the funding rate is just a “sentiment and positioning proxy,” not a standalone price predictor. Also, they note that positive funding can last for weeks during strong uptrends without sparking a reversal. Trajectory matters more here. When funding goes up, and open interest grows over time, it means new leveraged longs are jumping in. That increases the number of positions at risk if prices fall. When funding falls toward zero alongside declining open interest, existing positions are closing and the market is resetting. According to ChainCatcher, ETH open interest dropped 5.06% in the past 24 hours, hinting at unwinding rather than setting up fresh positions. With funding nearly flat, this looks like a derivatives market waiting to see what happens next. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
5 Jun 2026, 02:15
Institutional investors led Bitcoin sell-off in Q1, shedding 52,000 BTC: CoinShares
BitcoinWorld Institutional investors led Bitcoin sell-off in Q1, shedding 52,000 BTC: CoinShares Institutional investors, including hedge funds, securities firms, and investment advisors, significantly reduced their exposure to spot Bitcoin ETFs during the first quarter of 2025, selling approximately 52,000 BTC, according to a new analysis from CoinShares. The data, reported by Cointelegraph, shows total institutional holdings dropped from 313,000 BTC to 261,000 BTC, a decline of 17%. Which institutions sold the most? The sell-off was led by hedge funds, which cut their Bitcoin ETF holdings by 39%. Securities firms reduced their positions by 53%, the steepest decline among the groups tracked. Investment advisors, who held the largest aggregate position at the start of the quarter, trimmed their holdings by a more modest 5.9%. In a notable countertrend, banks more than doubled their Bitcoin ETF holdings during the same period, adding 7,800 BTC. This divergence suggests that while some professional investors retreated, other parts of the traditional financial system continued to build exposure. Market context and price action The institutional selling coincided with a 22% decline in Bitcoin’s price during Q1 2025. The asset briefly traded below $60,000, its lowest level in several months. The correlation between institutional outflows and price weakness highlights the growing influence of regulated ETF flows on Bitcoin’s short-term price dynamics. Why this matters for the broader market The sell-off is not necessarily a signal of long-term institutional disillusionment. CoinShares noted that the regulatory foundation for cryptocurrencies has been improving. Regulators have been working to clarify supervisory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Proposals regarding the treatment of cryptocurrency in retirement accounts have also advanced. Market attention is now focused on the potential passage of the CLARITY Act, a bill that would provide a clearer legal framework for digital assets. The legislation is expected to face a Senate vote as early as August 2025. If passed, it could remove a key source of regulatory uncertainty that has kept some institutional investors on the sidelines. Conclusion The first quarter of 2025 saw a notable pullback in institutional Bitcoin ETF holdings, driven primarily by hedge funds and securities firms. However, the simultaneous increase in bank holdings and ongoing regulatory progress suggest that the institutional adoption trend is far from over. The CLARITY Act vote later this year will be a pivotal moment for the market’s regulatory outlook. FAQs Q1: Why did institutional investors sell Bitcoin in Q1 2025? The sell-off was likely driven by a combination of profit-taking, risk reduction amid price volatility, and portfolio rebalancing. Bitcoin’s 22% price decline may have triggered stop-losses or margin calls for some leveraged funds. Q2: Did all institutional investors sell Bitcoin? No. Banks increased their Bitcoin ETF holdings by more than 100% during the same period, indicating a divergence in strategy among different types of institutional investors. Q3: What is the CLARITY Act and why does it matter? The CLARITY Act is a proposed U.S. bill that aims to clarify the regulatory jurisdiction of the SEC and CFTC over digital assets. Its passage could reduce legal uncertainty and encourage more traditional financial institutions to enter the crypto market. This post Institutional investors led Bitcoin sell-off in Q1, shedding 52,000 BTC: CoinShares first appeared on BitcoinWorld .
5 Jun 2026, 02:10
Cardano Falls 10% In Bearish Trade
5 Jun 2026, 02:10
Schiff Challenges Bitcoin Logic: If a ‘Genius’ Like Saylor Can’t Profit, Who Can?
BitcoinWorld Schiff Challenges Bitcoin Logic: If a ‘Genius’ Like Saylor Can’t Profit, Who Can? Peter Schiff, the long-time Bitcoin critic and CEO of Euro Pacific Capital, has reignited the debate over cryptocurrency investment by pointing to MicroStrategy’s massive unrealized losses. In a recent post on X, Schiff argued that if a highly regarded figure like MicroStrategy founder Michael Saylor cannot turn a profit on Bitcoin, ordinary investors should reconsider their exposure to the asset. MicroStrategy’s $12 Billion Unrealized Loss Schiff highlighted that MicroStrategy, the largest corporate holder of Bitcoin, is currently sitting on an unrealized loss of approximately $12 billion. This figure comes despite the company’s aggressive accumulation strategy over more than five years, during which it has purchased Bitcoin at various price points. The criticism underscores the volatility and risk inherent in the cryptocurrency market, even for well-capitalized institutional players. Questioning the Investment Thesis Schiff’s remarks challenge a core argument used by Bitcoin proponents: that dollar-cost averaging by a disciplined buyer like MicroStrategy would ultimately yield profits. By pointing to the company’s current losses, Schiff suggests that the strategy has failed to deliver on its promise. He further warned that even a drop in Bitcoin’s price to $20,000 would still represent an overvaluation for what he calls a ‘worthless asset.’ Schiff cautioned against the common logic that an 84% decline from a peak automatically signals a buying opportunity, calling it a dangerous trap for retail investors. Implications for Retail Investors This critique arrives at a time when many individual investors look to institutional moves as signals of market confidence. MicroStrategy’s strategy has often been cited as a validation of Bitcoin as a treasury reserve asset. Schiff’s counterargument raises a practical question: if a company with deep pockets and a clear strategy is underwater, what does that mean for smaller investors with less capacity to withstand downturns? The debate touches on broader issues of market timing, risk management, and the speculative nature of cryptocurrency as an investment class. Conclusion Peter Schiff’s latest commentary serves as a stark reminder of the risks associated with Bitcoin investment, even for sophisticated players. While MicroStrategy remains committed to its Bitcoin strategy, the unrealized losses highlight the asset’s price volatility. For readers, the key takeaway is the importance of due diligence and understanding that past performance or institutional endorsement does not guarantee future returns. FAQs Q1: What is the size of MicroStrategy’s unrealized Bitcoin loss? A1: According to Peter Schiff, MicroStrategy holds an unrealized loss of approximately $12 billion on its Bitcoin holdings as of his recent statement. Q2: Why does Peter Schiff criticize Bitcoin investment? A2: Schiff argues that Bitcoin is a speculative asset with no intrinsic value, and that even disciplined buyers like MicroStrategy are facing significant losses, making it a poor choice for average investors. Q3: Is an 84% decline in Bitcoin price a buying opportunity? A3: Peter Schiff warns against this logic, stating that a decline from a peak does not automatically make an asset undervalued, especially if its fundamental value is zero in his view. Investors should conduct their own research. This post Schiff Challenges Bitcoin Logic: If a ‘Genius’ Like Saylor Can’t Profit, Who Can? first appeared on BitcoinWorld .
