hodler

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

Bitcoin Falls as Record ETF Outflows and Strategy Sale Hit Sentiment

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, 13:15

US private sector adds 122K jobs in May: What the ADP data means for the US Dollar

BitcoinWorld US private sector adds 122K jobs in May: What the ADP data means for the US Dollar The US private sector added 122,000 jobs in May, according to the latest ADP National Employment Report, signaling a continued but moderating pace of hiring. The figure, while still indicating expansion, fell short of consensus expectations and marks a slowdown from the revised 192,000 jobs added in April. For currency markets, the data introduces fresh uncertainty about the trajectory of the US Dollar, as traders reassess the likelihood of further Federal Reserve interest rate hikes. ADP report details and market reaction The ADP report, often viewed as a precursor to the official nonfarm payrolls data from the Bureau of Labor Statistics, showed broad-based gains across sectors. Service-providing industries led the way, adding 99,000 positions, while goods-producing sectors contributed 23,000 jobs. Small businesses with fewer than 50 employees added 35,000 jobs, while medium and large enterprises added 46,000 and 41,000, respectively. The US Dollar Index (DXY) edged lower immediately following the release, as the softer-than-expected print dampened expectations for aggressive Fed tightening. A slower hiring pace suggests the labor market is cooling, which could give the Federal Reserve more room to pause or slow its rate hiking cycle. This dynamic typically weighs on the Dollar, as lower interest rate expectations reduce the currency’s yield advantage. Implications for the Federal Reserve and interest rates The ADP data arrives at a critical juncture for monetary policy. The Federal Reserve has signaled a data-dependent approach, with labor market conditions a key input. A deceleration in job growth, combined with moderating wage pressures, could reinforce the case for keeping rates steady at the next Federal Open Market Committee (FOMC) meeting. Conversely, if the official jobs report on Friday shows sustained strength, the Fed may maintain its hawkish stance. Market participants are now pricing in a roughly 70% probability that the Fed will hold rates unchanged in June, according to CME FedWatch data, up from around 60% before the ADP release. This shift in expectations has contributed to a slight pullback in US Treasury yields, which in turn reduces the Dollar’s appeal. What this means for the US Dollar outlook The US Dollar has been under pressure in recent weeks, driven by expectations that the Fed is nearing the end of its tightening cycle. The ADP report reinforces that narrative, but caution is warranted. The official nonfarm payrolls report, due Friday, could still surprise to the upside. Additionally, inflation data remains elevated, and the Fed has emphasized that it will not cut rates until inflation is sustainably moving toward its 2% target. For now, the Dollar is likely to remain range-bound, with the outcome of the upcoming jobs report and the May Consumer Price Index (CPI) release serving as the next major catalysts. A sustained break below key support levels in the DXY could open the door for further weakness, particularly against currencies like the Euro and Japanese Yen. Conclusion The May ADP report provides a timely snapshot of a labor market that is gradually cooling but still adding jobs. For the US Dollar, the data reinforces a cautious outlook, as markets increasingly price in a Fed pause. However, the official jobs report and upcoming inflation data will ultimately determine the near-term direction. Traders and investors should remain attentive to the evolving data flow rather than drawing firm conclusions from a single indicator. FAQs Q1: How does the ADP employment report affect the US Dollar? The ADP report influences market expectations for Federal Reserve interest rate policy. A weaker-than-expected reading reduces the likelihood of rate hikes, which tends to weaken the Dollar, while a stronger reading supports the currency. Q2: What is the difference between the ADP report and the official nonfarm payrolls report? The ADP report is based on payroll data from ADP clients and is released two days before the official Bureau of Labor Statistics (BLS) nonfarm payrolls report. While both measure private sector employment, the BLS report includes government jobs and is considered the more comprehensive and authoritative metric. Q3: Why does the Federal Reserve care about private sector job growth? The Fed uses labor market data, including job growth, to assess the health of the economy and make decisions about interest rates. Strong job growth can fuel inflation, prompting the Fed to raise rates, while slowing growth may allow for a more accommodative stance. This post US private sector adds 122K jobs in May: What the ADP data means for the US Dollar first appeared on BitcoinWorld .

3 Jun 2026, 13:14

Liquidations in crypto top 1.7 billion dollars! What is behind the shifting trends?

🚨 Over $1.7 billion in crypto futures liquidated as Bitcoin slips to 65,500 dollars. 📉 The sharp drop sent shockwaves through $BTC markets, wiping out leveraged long bets. ⚡ Despite sell pressure, some altcoins like ENA and FET surged double digits while volatility soared. Continue Reading: Liquidations in crypto top 1.7 billion dollars! What is behind the shifting trends? The post Liquidations in crypto top 1.7 billion dollars! What is behind the shifting trends? appeared first on COINTURK NEWS .

3 Jun 2026, 13:11

XRP Price Prediction as Ripple Execs Mark 14 Years of XRPL Growth

XRP price prediction as Ripple Execs mark 14 years of XRPL growth is drawing fresh attention as the token trades near a key technical zone. Ripple leaders celebrated the XRP Ledger’s anniversary while traders watched XRP lose support on the chart. The network milestone shows long-term activity, while the current price setup keeps short-term pressure on buyers. XRP Price Prediction Faces Bearish Chart Pressure XRP price is trading near $1.22 after losing the ascending support line that shaped its structure since late April. The chart shows price breaking down before the May 27 apex, confirming a weaker technical setup after several failed attempts to hold higher levels. The token has also moved below key Fibonacci support areas near $1.2658 and $1.2315. That drop places XRP close to the $1.20 support zone, which now stands as an important level for traders watching the next move. XRPUSD | Source: X A daily close below $1.23 may keep sellers in control. In that case, XRP could test $1.20 first, while a deeper move may expose the February low near $1.11. However, a recovery above $1.30 would ease immediate downside pressure and give buyers room to challenge higher resistance. The chart also shows descending resistance still limiting upside momentum. XRP may need to reclaim the broken support area and move back above nearby resistance before any stronger bullish setup develops. Ripple Leaders Mark XRPL’s Anniversary Ripple executives joined the XRP Ledger community in marking 14 years since the network’s early foundations. David Schwartz, Ripple’s CTO Emeritus and one of XRPL’s original architects, reflected on the project’s early goal of building a better system for moving value globally. Schwartz said the network’s growth came from more than its founders. He credited developers, validators, businesses, and XRP holders for shaping the ecosystem across its long history. His message placed the community at the center of XRPL’s development. Ripple CEO Brad Garlinghouse also marked the anniversary. He described his support for XRP as “the honor of a lifetime,” adding another public show of support for the network during a period of weaker market action. The anniversary brings attention to XRPL’s long operating record. While XRP price remains under pressure, the network’s 14-year history gives the community a separate growth narrative from short-term trading conditions. XRPL Activity Shows Long-Term Network Use XRPL remains one of the older blockchain networks still active in the digital asset market. Since launch, it has processed more than 4.41 billion transactions, showing consistent use across several market cycles. Recent data also showed about 1.92 million transactions processed in one day. That activity comes as XRPL continues to support payments, token issuance, and institutional blockchain use cases. The network has expanded beyond its early payments focus. It now supports cross-border settlement tools, tokenization projects, and business-focused blockchain applications. Japan’s SBI has also used XRPL technology for regulated token issuance, adding to the network’s institutional profile. However, network activity does not remove short-term market risk. XRP still trades inside a weak technical setup, and buyers need stronger volume to reverse the current chart structure. The next XRP price prediction depends largely on whether the token can defend the $1.20 region. Holding that level may allow XRP to stabilize and attempt a move back toward $1.26 and $1.30. A clean move above $1.30 would improve the near-term setup. It could also shift attention toward the former descending resistance area near $1.37. That level remains important as it sits close to the moving average zone shown on the chart.