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2 Jun 2026, 07:42
Ethereum defends $1900 as BitMine slows buying and ETF outflows grow
Bitcoin has lost 4% of its value in the last 24 hours and risks losing a key support level. However, Ethereum, the second-largest cryptocurrency by market cap, has maintained its price above $1,900 over the past few hours. ETH is now trading at $1,979 and could surge higher in the near term if the current support level holds. The technical indicators suggest that the bears are still in control. However, the bearish trend might subside as the buyers hold ETH's price above a key support zone. ETH stays above $1,900 as BitMine slows Ethereum buying ETH has maintained its price above $1,900 as it is up by less than 1% in the last 24 hours. The resilience comes despite BitMine Immersion Technologies (BMNR) reducing the pace of its weekly Ethereum (ETH) accumulation. The company purchased 26,497 ETH last week—its third-smallest weekly buy since shifting to an ETH treasury strategy in 2025. Despite the slowdown, the company’s total holdings have climbed to 5.41 million ETH, valued at approximately $10.7 billion at current prices. BitMine also reported additional balance sheet exposures, including 203 Bitcoin (BTC), a $180 million stake in Beast Industries, $93 million in Eightco Holdings (ORBS) shares, and $446 million in cash reserves. BitMine Chairman Thomas Lee said Ethereum’s price does not reflect improving fundamentals. However, he acknowledged the market is still in the early stages of what he described as a “crypto spring.” Lee also indicated the company plans to slow its accumulation pace, noting BitMine is already ahead of its original target to acquire 5% of ETH’s circulating supply. While BitMine continues to buy Ethereum, institutional investors have been offloading their spot Ethereum ETFs. Data obtained from CoinGlass revealed that US spot Ethereum ETFs have recorded three consecutive weeks of net outflows, suggesting that institutions are reducing their exposure to the crypto market. Ethereum price outlook: Bulls continue to defend the $1,900 support Similar to Bitcoin, the ETH/USD 4-hour chart is bearish and efficient as the leading altcoin is trading below the $2,000 psychological level. The technical indicators suggest that the bears are still in control. Currently, Ethereum is trading below the 20-day ($2,098), 50-day ($2,172), and 100-day ($2,269) EMAs. The Relative Strength Index (RSI) OF 41 shows that Ethereum is bearish but is yet to enter the oversold region. The MACD lines are also within the negative territory on the same timeframe. If the buyers regain control, Ethereum would encounter immediate resistance at $2,018, followed by $2,107 and the 50-day EMA at $2,172. A daily candle close above this level would allow Ether to attempt to recapture higher resistance zones at $2,211, $2,269, $2,388, and $2,746. However, if the selloff persists, Ether could drop below the key support at $1,909. A break below this level could open the path toward $1,741, with deeper downside targets at $1,524 and $1,404 if bearish momentum continues. The post Ethereum defends $1900 as BitMine slows buying and ETF outflows grow appeared first on Invezz
2 Jun 2026, 07:40
Silver Price Forecast: XAG/USD Tests Multi-Year Highs Near $77 as Risk Appetite Holds Steady
BitcoinWorld Silver Price Forecast: XAG/USD Tests Multi-Year Highs Near $77 as Risk Appetite Holds Steady Silver prices (XAG/USD) extended their recent rally on Wednesday, briefly touching the $77 mark for the first time in over a decade. The move was supported by a broadly stable risk appetite across global markets, as investors weighed shifting expectations for monetary policy and ongoing demand for precious metals as a store of value. What’s Driving the Silver Rally? The latest leg higher in silver comes amid a confluence of supportive factors. A softer U.S. dollar, declining bond yields, and renewed concerns over inflation have all contributed to a favorable environment for precious metals. Additionally, industrial demand for silver—particularly from the solar energy and electronics sectors—has provided a fundamental tailwind that distinguishes this rally from purely speculative moves. Market participants are also closely watching the Federal Reserve’s next policy steps. While interest rate cuts are not imminent, the market is pricing in a higher probability of easing later this year. Lower rates reduce the opportunity cost of holding non-yielding assets like silver, making them more attractive to investors. Technical Outlook: Key Levels to Watch From a technical perspective, silver’s break above the $75 resistance level earlier this week opened the door to the $77 region. The next major psychological barrier sits at $80, a level not seen since 2011. Support on any pullback is expected near $74, followed by the $72 zone, which previously acted as resistance. The Relative Strength Index (RSI) on the daily chart is approaching overbought territory, suggesting that some consolidation or a short-term correction could occur before the next leg higher. However, the overall trend remains firmly bullish as long as prices stay above the 50-day moving average. Why This Matters for Investors Silver’s dual role as both a precious metal and an industrial commodity gives it a unique risk profile. For investors, the current rally offers potential upside, but it also carries higher volatility compared to gold. Those considering adding silver exposure should be aware of the metal’s sensitivity to shifts in industrial demand and broader economic data. The rally also reflects a broader rotation into hard assets amid lingering uncertainty about the global economic outlook. If risk appetite remains intact and the dollar continues to weaken, silver could sustain its upward momentum in the coming weeks. Conclusion Silver’s test of the $77 level marks a significant milestone in the current bull cycle. While the fundamental backdrop remains supportive, traders should watch for potential profit-taking and technical resistance near $80. The broader trend favors higher prices, but short-term volatility is likely to persist. FAQs Q1: Why is silver rallying now? A softer U.S. dollar, falling bond yields, strong industrial demand, and expectations of eventual Fed rate cuts are all supporting silver prices. Q2: What is the next resistance level for silver? The next major resistance is at $80, a psychological level not seen since 2011. Support is at $74 and $72. Q3: Is silver a good investment right now? Silver offers potential upside in a bullish trend, but its higher volatility means investors should carefully assess their risk tolerance and consider diversification. This post Silver Price Forecast: XAG/USD Tests Multi-Year Highs Near $77 as Risk Appetite Holds Steady first appeared on BitcoinWorld .
2 Jun 2026, 07:33
Mt. Gox moves $739 million in BTC before deadline
🚨 Mt. Gox moved $739 million worth of $BTC in a single transfer. Continue Reading: Mt. Gox moves $739 million in BTC before deadline The post Mt. Gox moves $739 million in BTC before deadline appeared first on COINTURK NEWS .
2 Jun 2026, 07:30
Sosnick Warns Crypto’s ‘Tourists’ Are Cashing out as Bitcoin ETFs Bleed $1.42 Billion
Interactive Brokers strategist Steve Sosnick says crypto’s recent wobble has exposed a “ crypto tourist” problem where money that chased performance on the way up is now heading for the exits. The “ Crypto Tourist” Thesis Speaking on Laura Shin’s “Bits + Bips” podcast alongside co-host Steven Ehrlich, Sosnick argued that much of the capital
2 Jun 2026, 07:22
Mt. Gox shifts $729M in BTC as Bitcoin tests support
The cold and hot wallets of Mt. Gox reactivated, performing one of the biggest transactions in history. Another $729M in BTC were moved on June 2, recalling the overhang of coins held in conservatorship. Mt. Gox coins are moving, warned Arkham Intelligence. The known hot and cold wallets of Mt. Gox have moved some BTC before, but the latest transaction shows unprecedented scale. A large transfer of 10,306 BTC, valued at around $729M, was moved to a new and so far untagged address . Will the Mt. Gox overhang affect the BTC market? Mt. Gox drew attention to itself at a time when BTC was showing weakness and hovering above $71,000 after losing previous support levels. The recent transfers from the Mt. Gox cold and hot wallets started after two months of inactivity. There is still no set date for distributing the Mt. Gox coins, but the presence of a significant supply overhang has worried the market before. There is still no clarity whether the conservator is finally prepared to distribute BTC to creditors or to swap BTC for liquidation. The market will react as if Mt. Gox is finally ready to sell, added to the current selling pressure from ETF and the recent Strategy decision to sell 32 BTC . The sale from Strategy, although small, caused a rapid unraveling of the BTC price and sparked fears that bigger overhangs may further crash the market. Mt. Gox has pushed the creditor repayment deadline to October 31, 2026, and still holds around $4B in BTC. Over the years, the defunct exchange has delayed distribution to creditors multiple times, holding coins through both bull and bear markets. Most probably, the latest transfers are part of an internal wallet restructuring rather than preparation for distribution. Mt. Gox has an estimated 80,000 creditors, some of whom acquired BTC at under $1,000 back in 2014. The final decision to sell or to hold would be up to each individual early investor in BTC. Mt. Gox also moves funds to its hot wallet As with previous transfers, the wallets of Mt. Gox are watched for a trend of ongoing transactions. For now, the only other move of coins was destined for the Mt. Gox hot wallet. The conservator moved around 116 BTC to the hot wallet as of June 2. Both outgoing transactions from the cold wallet happened within an hour of each other, with no further communication from the conservator. As Cryptopolitan reported, Mt. Gox has previously moved $956M to a new wallet as part of its routine operations to store BTC. As a result, the Mt. Gox hot wallet now holds 34.504K BTC , valued at around $2.4B. The wallet will remain closely monitored for follow-up moves, though Mt. Gox has so far avoided selling. The exchange, which virtually controlled the BTC market in 2011, also turned its users into unwilling long-term holders. Following the transfer, BTC continued its slide to $71,249.50, once again trading with a sentiment of extreme fear . The smartest crypto minds already read our newsletter. Want in? Join them .
2 Jun 2026, 07:20
Bitcoin crashes below $70K as Iran tensions and ETF outflows bite
Bitcoin (BTC) has dropped below the $70,000 mark on Tuesday after geopolitical tensions flared, triggering a broad risk-off move across financial markets. The leading cryptocurrency by market cap has lost 4% of its value in the last 24 hours and, touching the 69,657 level. The bearish performance was also fueled by Michael Saylor’s Strategy disclosing that 32 BTC were sold between May 26 and May 31 for approximately $2.5 million. Geopolitical tension and Strategy sell-off put Bitcoin under pressure BTC is down 4% since Monday and now risks dropping below $70,000 thanks to growing geopolitical tensions. Iranian state media reported that Tehran has suspended indirect ceasefire talks with the United States, citing Israel’s ongoing military operations in Lebanon as a key factor undermining regional diplomacy. This latest development rattled investor sentiment further after reports emerged that Iran may consider disrupting critical global shipping lanes, including the Strait of Hormuz. The sell-off coincided with sustained institutional withdrawals from digital asset products. According to CoinShares , crypto investment vehicles recorded $1.7 billion in outflows last week, marking the third consecutive week of negative flows and the second-largest weekly outflow in 2026. Total assets under management (AuM) fell from $148 billion to $141 billion, reaching their lowest level since April. Bitcoin exchange-traded products (ETPs) led the retreat with $1.4 billion in outflows—the largest weekly figure this year—while Ethereum (ETH) products saw $257 million in redemptions. Adding to bearish sentiment, Strategy disclosed its first Bitcoin sale since 2022, offloading 32 BTC worth approximately $2.5 million to fund preferred stock distributions. Although small relative to its overall holdings, the move marked a notable shift from its long-standing accumulation strategy, contributing to cautious sentiment across the market. Bitcoin price outlook: Bears target the $67,662 support level The BTC/USD 4-hour chart is extremely bearish as Bitcoin has lost 8.5%of its value over the last seven days. The technical indicators suggest that the bearish trend might persist for a while. The Relative Strength Index (RSI) of 35 shows that Bitcoin is within the oversold region. The MACD lines are also within the negative territory, adding further confluence to the bearish narrative. If the sellers remain in control, Bitcoin could lose the $69,000 support in the near term, with the closest 4-hour swing and support level at $67,662. A daily candle close below this level could see BTC drop below $65,000 for the first time since March. However, if the bulls defend the $69,000 support, Bitcoin could recover towards $72,288, making it efficient on the 4-hour chart. An extended rally would allow Bitcoin to target the 4-hour Transactional Liquidity (TLQ) at $74,253. A break above this level could signal a trend shift in the near term, paving the way for the bulls to target higher resistance zones. The post Bitcoin crashes below $70K as Iran tensions and ETF outflows bite appeared first on Invezz
