hodler

2 Jun 2026, 08:55

Bitcoin Dominance Crashes as BTC Price Dumps Below $70K: Market Watch

Bitcoin’s price troubles intensified in the past several hours as the asset dumped to its lowest levels in almost two months, under $70,000. Interestingly, there are some major altcoins posting gains or smaller losses than BTC, which has harmed its dominance over the market. Bitcoin Dominance Craters It was just a couple of weeks ago when the primary cryptocurrency was riding high above $80,000 and even challenged $82,000 and $83,000. However, the subsequent rejection and correction have been quite painful. It quickly lost the $80,000 support and dived to $75,000 on May 23/24. After a quick but unsuccessful rebound attempt that was halted at $78,000, the bears took control once again and initiated another leg down that drove BTC to under $74,000 in late May. Bitcoin maintained $73,000-$74,000 for a few days but broke down as June started. It first dipped to $71,000 yesterday, where it found some support, but that was short-lived. The bears kept the pressure mounting, and BTC crashed below $70,000 earlier today for the first time since April 8 amid some Mt. Gox transfers . Moreover, its dominance over the market has been significantly reduced as many alts have charted more minor losses. The metric has slumped to 56.3% on CG, down by approximately 2% in the past week or so. Its market capitalization now struggles to remain above $1.4 trillion. BTCUSD June 2. Source: TradingView Alts Take It Better Although most altcoins are in the red today, most of their losses are smaller than bitcoin’s. In fact, ETH is even slightly in the green on a daily scale, even though it continues to struggle below $2,000. XRP, TRX, ADA, and RAIN have dropped by under 3%, while BNB, HYPE, and SOL are down by around 1%. XLM has plunged the most today after its recent run, and is now down by over 9%. In contrast, NEAR, ICP, and H have marked significant double-digit price pumps. The total crypto market cap has dumped below $2.5 trillion on CG. Recall that the metric stood above $2.7 trillion just a few weeks ago. Cryptocurrency Market Overview June 2. Source: QuantifyCrypto The post Bitcoin Dominance Crashes as BTC Price Dumps Below $70K: Market Watch appeared first on CryptoPotato .

2 Jun 2026, 08:55

GBP/JPY Breaks Above 215.00: Nearing Intervention Territory

BitcoinWorld GBP/JPY Breaks Above 215.00: Nearing Intervention Territory The British Pound surged against the Japanese Yen on Thursday, breaking decisively above the 215.00 handle for the first time in recent trading sessions. This move has drawn the attention of market participants, as the pair now approaches levels historically associated with intervention risk from Japanese authorities. What Drove the Breakout Above 215.00? The rally in GBP/JPY was fueled by a combination of factors. Stronger-than-expected UK economic data, including resilient services PMI figures, reinforced the view that the Bank of England (BoE) may keep interest rates higher for longer. Meanwhile, the Japanese Yen continued to weaken broadly as the Bank of Japan (BOJ) maintained its ultra-loose monetary policy stance, despite recent adjustments to its yield curve control program. The widening interest rate differential between the UK and Japan remains a primary driver of the pair’s upward trajectory. Technical Analysis: Resistance and Intervention Levels From a technical perspective, GBP/JPY has cleared a key resistance zone near 214.80, which had capped upside attempts earlier this week. The next significant resistance lies at the 216.00 psychological level. However, the more critical threshold is the 216.50–217.00 area, which market analysts identify as a potential intervention trigger zone. Japanese officials have repeatedly warned against excessive yen depreciation, and verbal intervention has intensified as the currency weakens. The Ministry of Finance (MOF) has a history of stepping into the market when moves are deemed speculative or disorderly, particularly when the yen depreciates rapidly. What Intervention Could Look Like If GBP/JPY continues to climb toward 216.50 or higher, the risk of actual intervention increases. In past episodes, the BOJ and MOF have coordinated to sell foreign currencies (including the pound) and buy yen directly. Such action typically causes a sharp, temporary reversal in the pair, often by 2–5% within hours. Traders should watch for sudden spikes in yen volatility or official statements from Japan’s top currency diplomat, Masato Kanda, as signals of imminent action. Broader Market Implications The breakout above 215.00 is not just a technical milestone; it reflects deeper market dynamics. The yen has been one of the worst-performing major currencies in 2025, pressured by Japan’s persistent low yields and a global risk-on appetite that favors higher-yielding currencies like the pound. For UK-based investors and importers, a stronger GBP/JPY reduces the cost of Japanese goods but may also signal increased volatility ahead. For Japanese exporters, a weaker yen boosts profits but raises the risk of government intervention that could disrupt currency markets. Conclusion GBP/JPY’s break above 215.00 marks a significant technical and fundamental development. While the trend remains bullish for the pound, the proximity to intervention levels introduces a high degree of uncertainty. Traders and investors should monitor Japanese official commentary closely and prepare for potential sharp reversals if authorities decide to act. The coming days will be critical in determining whether the pair can sustain its rally or whether intervention caps further upside. FAQs Q1: What is the key intervention level for GBP/JPY? Analysts generally view the 216.50–217.00 zone as a potential trigger for Japanese intervention, though authorities may act earlier if they deem moves disorderly. Q2: How does BOJ intervention typically affect GBP/JPY? Intervention usually causes a sharp, short-term drop in GBP/JPY, often by 2–5%, as the BOJ sells pounds and buys yen. The effect can fade within days if fundamental drivers remain unchanged. Q3: Why is the yen weakening despite BOJ policy adjustments? The BOJ’s adjustments to yield curve control have been incremental, and Japan’s interest rates remain far below those in the UK and US. The wide interest rate differential continues to drive yen selling. This post GBP/JPY Breaks Above 215.00: Nearing Intervention Territory first appeared on BitcoinWorld .

2 Jun 2026, 08:45

Gold Holds Gains as Israel-Hezbollah Ceasefire Tempers Hawkish Fed, Pressures USD

BitcoinWorld Gold Holds Gains as Israel-Hezbollah Ceasefire Tempers Hawkish Fed, Pressures USD Gold prices maintained their recent upward momentum on Wednesday, consolidating gains as a newly announced ceasefire between Israel and Hezbollah tempered safe-haven demand, while simultaneously countering the hawkish stance of the Federal Reserve and exerting downward pressure on the US dollar. The precious metal, often seen as a hedge against geopolitical uncertainty and currency weakness, has found a delicate equilibrium in a market balancing easing Middle East tensions with persistent inflation concerns. Ceasefire Impact on Safe-Haven Flows The agreement, brokered by international mediators, has reduced immediate fears of a broader regional conflict, leading to a slight pullback in the safe-haven bid that had previously supported gold. However, the reduction in geopolitical risk has not triggered a sharp sell-off. Instead, the focus has shifted to the implications for global energy markets and supply chains, which remain under scrutiny. Analysts note that while the ceasefire reduces one layer of uncertainty, the underlying structural drivers for gold—such as central bank buying and persistent inflation—remain intact. Fed’s Hawkish Signals vs. USD Weakness The Federal Reserve’s recent commentary has reinforced expectations that interest rates will remain higher for longer, a typically bearish signal for non-yielding assets like gold. Yet, the market’s reaction has been muted, as the dollar index (DXY) has slipped against a basket of major currencies. A weaker USD makes gold cheaper for international buyers, providing a natural floor under prices. The juxtaposition of the Fed’s hawkish rhetoric with the dollar’s decline has created a complex trading environment, where gold is drawing support from currency dynamics even as rate hike fears linger. What This Means for Investors For market participants, the current gold price action reflects a tug-of-war between opposing forces. The ceasefire removes a significant tailwind for safe-haven assets, but the resulting USD weakness and ongoing inflation concerns are providing a counterbalance. Traders are now closely watching upcoming US economic data, particularly non-farm payrolls and consumer price index reports, for further clues on the Fed’s next move. A clearer directional catalyst may emerge if the dollar weakens further or if the ceasefire leads to a broader de-escalation in regional tensions. Conclusion Gold’s ability to hold onto gains amid a hawkish Fed and a geopolitical de-escalation underscores the metal’s resilience in a multifaceted market. The interplay between a weaker dollar and reduced safe-haven demand suggests that gold may remain range-bound in the near term, with key support and resistance levels defined by currency movements and incoming economic data. The ceasefire is a positive development for regional stability, but its impact on gold prices is likely to be temporary unless it triggers a sustained shift in global risk appetite or monetary policy expectations. FAQs Q1: Why is gold holding gains despite a ceasefire? Gold is holding gains because the ceasefire’s reduction in safe-haven demand is being offset by a weaker US dollar, which makes gold cheaper for international buyers. Additionally, underlying inflation concerns and central bank buying continue to provide support. Q2: How does the Federal Reserve’s hawkish stance affect gold? A hawkish Fed, signaling higher-for-longer interest rates, typically pressures gold as it increases the opportunity cost of holding non-yielding assets. However, if this stance leads to a weaker dollar, gold can still find support. Q3: What should investors watch next for gold price direction? Investors should monitor upcoming US economic data (especially jobs and inflation reports), further developments in the Middle East ceasefire, and the trajectory of the US dollar index. Any shift in Fed policy expectations or a sustained move in the dollar will likely be the next major catalyst. This post Gold Holds Gains as Israel-Hezbollah Ceasefire Tempers Hawkish Fed, Pressures USD first appeared on BitcoinWorld .

2 Jun 2026, 08:42

A new 15 week low has hit XRP! What are traders closely watching now?

🚨 XRP plummets to its lowest level in 15 weeks, slipping under 1,268 dollars. Technical analysts highlight failed rallies and watch crucial support between 1,10 and 1,30 dollars. 📉 A 66% drop from its peak puts increased focus on potential support in $XRP’s lower bands. Continue Reading: A new 15 week low has hit XRP! What are traders closely watching now? The post A new 15 week low has hit XRP! What are traders closely watching now? appeared first on COINTURK NEWS .

2 Jun 2026, 08:38

‘We Investigated Ourselves’: ZachXBT Slams EdgeX After Sudden Token Collapse

The EDGE token collapsed to an all-time low of around $0.40 on June 1, less than two weeks after it hit an all-time high of $1.54. The crash wiped off about 51% of the token’s value in a single day, triggering more than $6.2 million in liquidations across major exchanges and drawing immediate accusations of insider manipulation from on-chain researcher ZachXBT. edgeX Points the Finger Outward edgeX, the decentralized perpetual futures DEX that issues the EDGE token, posted on X several hours after the crash began, acknowledging what it called “a sudden and irregular price movement.” The team also said they were working to understand what happened. Two hours later, the project followed with a firmer statement, saying the following: “The edgeX protocol were not compromised in any way. This is not a hack, exploit, or security breach. What we have identified so far suggests deliberate attempts by certain external party to manipulate the market price of EDGE.” The company added that it was working with relevant exchanges and platforms to identify the cause and pursue accountability. It also promised to provide a more detailed update once the said investigations were over. However, their explanation was not well received everywhere, with ZachXBT, an on-chain investigator known for calling out bad actors in crypto, pushing back directly and stating that the EDGE supply appeared to be controlled by a small group with low circulating float. He also challenged the edgeX team to disclose the platform’s counterparties and market maker agreements if they really cared about transparency, mocking the project’s self-investigation with a pointed paraphrase: “We investigated ourselves and did not find ourselves guilty even though we control nearly the entire supply.” On the price side, the damage was significant, with CoinGecko data showing that EDGE dropped from about $1.26 to near $0.40, which was a new all-time low, before it stabilized around $0.62 at the time of writing. Additional data from CoinGlass showed the price fall caused liquidations of about $6.2 million in 24 hours, with long positions accounting for $4.84 million. That activity was mostly concentrated on Binance, Bybit, and OKX, which together handled the majority of the forced closures that affected at least 3,840 traders, with price volatility hitting 74.77% on the day. A Rough Season for Crypto Security There is a valid reason why many people, upon seeing EDGE’s behavior in the market, immediately thought its parent platform had been hacked and why edgeX came out to categorically deny that there had been such an incident. This year, the crypto space has been rattled by a string of exploits, including a recent attack on DxSale, where more than 1,400 liquidity pools tied to its old contracts on the BNB Chain were drained of about $7.3 million worth of tokens. A hacker also stole about $11 million from the Verus bridge, while TrustedVolumes, a liquidity provider, lost just under $6 million. The post ‘We Investigated Ourselves’: ZachXBT Slams EdgeX After Sudden Token Collapse appeared first on CryptoPotato .

2 Jun 2026, 08:37

Crypto News, June 2: Bitcoin Price Flash Crashes Below $70K, Saylor Explains Strategy Sale, Trump Saving Bibi’s Ass

Bitcoin price endured a brutal start to the week, briefly crashing below $70,000, just now, for the first time since April. This has also triggered a wave of liquidations of $766 million as news on Saylor and Strategy Bitcoin selling hit the market’s trust. The selloff arrived amid concerns surrounding Mt. Gox, whose latest Bitcoin transfer brought fears of creditor distributions. At the same time, rising geopolitical tensions involving Iran, President Donald Trump, and Israeli Prime Minister Benjamin Netanyahu added another layer of uncertainty. ALERT: MT GOX MOVED $739 MILLION bitcoin:native pic.twitter.com/HzlND2XI78 — Arkham (@arkham) June 2, 2026 Discover: The best crypto to diversify your portfolio with Bitcoin Price Falls Below $70K as Mt.Gox Awakens and Gets Active Bitcoin’s drop below the psychologically important $70,000 level has somehow caught us off guard. While there was no single catalyst behind the move, weeks of weakening momentum, ETF outflows, and growing market fear created the conditions for a sharp downside break. Once key support levels failed, leveraged positions were quickly liquidated, accelerating the decline. Major altcoins followed Bitcoin lower, though Bitcoin’s dominance level is dropping under 60%, showing the strength of altcoins. Bitcoin dominance, TradingView The market’s anxiety intensified after Mt. Gox transferred 10,306 BTC, or $731 million, from cold storage into new and hot wallets. The movement marked the largest transfer from the estate in more than two months and sparked speculation that additional creditor repayments are approaching. For years, Mt. Gox has remained one of crypto’s biggest jeopardizers. The collapsed exchange still controls 34,500 BTC, and with the repayment deadline set for October 2026, investors remain sensitive to any activity involving the estate’s wallets. We just don’t want to see a single sale of creditors’ Bitcoins when they receive theirs. It’s going to be ugly for us. Bitcoin (BTC) 24h 7d 30d 1y All time However, previous repayment-related transfers generated short-term volatility, but markets eventually absorbed the selling pressure. Many creditors have waited more than a decade for repayment and may be less inclined to sell immediately than we expect. For now, the uncertainty alone appears sufficient to keep market sentiment fragile. Discover: The best pre-launch token sales Saylor Says Strategy’s Bitcoin Sale Proves Liquidity, It’s a “Nothing Burger,” But Price Says Otherwise As Bitcoin struggled, attention also turned to Strategy after the company sold 32 BTC worth $2.5 million. The transaction sparked debate, fear, and even memes online as people questioned whether the company was quietly reducing exposure after years of aggressive accumulation. Although Bitcoin ran from $12K to its all-time high, the last time Strategy sold their stack. The last time Saylor sold Bitcoin, it marked the exact cycle bottom https://t.co/NjlCzEMKAY — Quinten | 048.eth (@QuintenFrancois) June 1, 2026 But, according to Saylor, the sale was a deliberate demonstration aimed at traditional financial rails, banks, and credit-rating agencies that continue to view Bitcoin as an illiquid or difficult-to-monetize asset on corporate balance sheets. He challenges them by showing that the ability to convert Bitcoin into cash almost instantly is one of the asset’s greatest strengths. By executing a small sale while maintaining its accumulation strategy, Strategy sought to show that Bitcoin can function as a practical treasury reserve, not just simply a long-term speculative holding. People are overthinking the 32 BTC sale. “Why sell?” “Why not just buy less next week?” “Is this bearish?” Michael @saylor already explained the logic: • If Bitcoin can’t be sold, critics say it has no value. • If it has no value, the balance sheet value is zero. • If the… pic.twitter.com/i8Dx2QpMC4 — Alex (@AlexesNakamoto) June 1, 2026 Saylor described the act as a form of economic arbitrage, clearly showing the depth of both Bitcoin’s spot and derivatives markets. In his view, proving liquidity helps lenders and credit agencies better evaluate companies that hold large Bitcoin reserves. The proceeds from the sale were reportedly used to meet corporate obligations, including dividend requirements, while allowing the company to remain a net buyer of Bitcoin overall. Despite criticism surrounding the timing, Saylor dismissed the controversy as a “nothing burger,” insisting that Strategy remains fully committed to expanding its Bitcoin position over the long term. Discover: The best pre-launch token sales Trump Called Netanyahu “Crazy” as Geopolitical Tension Hit Bitcoin and The Market Again Recent reports alleging that Iran continues using crypto networks to bypass sanctions have attracted attention from U.S. regulators and policymakers. The issue has resurfaced amid concerns about how crypto can be used to move funds outside traditional systems. This comes as Axios sources report a growing friction between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. JUST IN: Axios sources say President Trump was "pissed" during call with Israeli Prime Minister Netanyahu and told him off: "You're f*cking crazy. You'd be in prison if it weren't for me. I'm saving your ass. Everybody hates you now. Everybody hates Israel because of this."… pic.twitter.com/Im1NvO1Jdj — BRICS News (@BRICSinfo) June 1, 2026 According to insiders, Trump has become increasingly frustrated with Israel’s approach toward Iran, with reports believing tensions between the two leaders have grown hotter behind closed doors. While political disagreements are nothing new, any deterioration in U.S.-Israel coordination could affect Middle East stability and global markets. For crypto investors, geopolitical events often create conflicting forces. On one hand, rising uncertainty can trigger a big sell-off. On the other hand, Bitcoin is increasingly viewed as a neutral asset that operates outside traditional financial and political systems. As the market digests Mt. Gox developments, Strategy liquidity demonstration, and a growing list of geopolitical concerns, we are now watching with pain. Follow us here for more news, and maybe pains. Discover: The best crypto to diversify your portfolio with The post Crypto News, June 2: Bitcoin Price Flash Crashes Below $70K, Saylor Explains Strategy Sale, Trump Saving Bibi’s Ass appeared first on Cryptonews .