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Ethereum is approaching a critical support level near $1,700 after a broad cryptocurrency market downturn pushed the asset below $1,900. While some traders are concerned about the possibility of further losses, several analysts believe Ethereum’s long term fundamentals remain intact, supported by growing institutional adoption and tightening supply dynamics.

Key Support Level Comes Into Focus

Crypto analyst Bren believes Ethereum is moving decisively toward its February low around $1,700 following what he described as a corrective phase throughout March and April.

In a recent market update, he argued that bullish sentiment earlier in the year was not reflected in Ethereum’s price action, leading him to expect another decline. According to Bren, two scenarios are currently possible. Ethereum could revisit the $1,700 level and establish a double bottom before recovering, or it could break below that support and continue lower.

Despite those short term possibilities, the analyst stressed that neither outcome would alter his broader positive outlook for Ethereum through the remainder of the year.

Bren pointed to increasing institutional involvement in stablecoins and real world asset tokenization as major drivers of future growth. He believes these developments, combined with ongoing demand for speculative and collectible digital assets, create a strong foundation for Ethereum’s long term value proposition.

Institutional Adoption Continues to Strengthen

Similar views were expressed by Avichal Garg, who highlighted Ethereum’s unique position as a neutral financial settlement network.

According to Garg, countries such as China, India, and Brazil are increasingly interested in financial infrastructure that is not controlled by any single nation. He argued that Ethereum’s neutrality gives it significant geopolitical relevance as global financial systems evolve.

Garg also noted that interest from traditional finance remains strong, claiming that many firms on Wall Street are actively exploring Ethereum based solutions.

Institutional activity appears to support that view. Blockchain analytics platform Lookonchain recently reported that Bitmine, chaired by Tom Lee, received an additional 25,000 ETH from BitGo, valued at roughly $48 million, despite the recent decline in Ethereum’s market price.

Supply Dynamics Support the Bullish Thesis

Although Ethereum has fallen approximately 9.5% over the past week and suffered heavy liquidations during the latest market selloff, several indicators suggest a more constructive long term outlook.

Data cited by CryptoQuant contributor CryptoOnchain shows that more than 32% of Ethereum’s circulating supply, equivalent to about 39.5 million ETH, is currently locked in staking. At the same time, exchange balances continue to decline, reducing the amount of ETH readily available for trading.

A shrinking liquid supply could create favorable conditions for future price appreciation if demand strengthens.

Meanwhile, analysts at Arab Chain observed that Ethereum funding rates on Binance have climbed to their highest levels since the beginning of 2026. The increase reflects a growing number of leveraged bullish positions entering the market.

This development can be interpreted in two ways. It may signal that traders expect a rebound from current levels, or it could indicate an overcrowded trade that becomes vulnerable to additional liquidations if prices continue moving lower.

While Ethereum remains under pressure in the short term, many market observers believe institutional adoption, staking growth, and declining exchange reserves continue to support a stronger long term investment case.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Bitcoin came under renewed selling pressure over the past 24 hours, falling to its lowest level in roughly two months before staging a modest recovery. Despite the broader market weakness, several altcoins posted strong gains, outperforming the rest of the crypto sector.

Bitcoin Recovers After Sharp Decline

Since losing the crucial $80,000 support zone at the end of May, Bitcoin has remained trapped in a sustained downward trend. The asset initially slipped to around $76,000 before sellers intensified the pressure, pushing prices below $73,000 by month end.

A brief recovery toward $74,000 failed to gain momentum as another wave of selling emerged. The downturn accelerated at the start of June, with Bitcoin falling below the $70,000 mark and extending losses into the following session.

The selloff reached its lowest point earlier today when Bitcoin dropped to approximately $65,300, marking its weakest trading level in nearly two months.

Buyers eventually stepped in and helped stabilize the market. Bitcoin has since recovered about $2,000 from its intraday low and is currently trading near $67,000. Even so, some bearish analysts continue to warn that a break below the $50,000 support area could open the door to a much deeper correction.

Bitcoin’s market capitalization remains around $1.35 trillion, while its share of the overall cryptocurrency market continues to decline, with dominance slipping below 56%.

A Handful of Altcoins Post Strong Gains

While most major cryptocurrencies remain under pressure, a select group of altcoins has managed to deliver impressive gains despite the market downturn.

Ethereum has fallen below $1,900 after losing nearly 5% over the past day. Solana has also retreated sharply, while XRP recovered slightly after dropping to $1.20 before rebounding toward $1.24.

Several other large cap assets remain deep in negative territory, including Bitcoin Cash, Dogecoin, and HYPE, which recorded one of the steepest declines with an 11% drop.

In contrast, DEXE and ENA emerged as the strongest performers, each surging more than 20% within 24 hours. ONDO, WLD, and VVV also posted double digit gains, standing out as rare bright spots during a broadly bearish trading session.

The total cryptocurrency market capitalization briefly slipped below $2.35 trillion earlier in the day before recovering to approximately $2.4 trillion, reflecting a modest improvement in overall market sentiment.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Longtime Bitcoin skeptic Peter Schiff has issued another bearish forecast for the leading cryptocurrency, warning that Bitcoin could plunge below $20,000 if it loses support at the $50,000 level.

His comments came as Bitcoin traded near $67,000, having declined more than 4% in a single day and over 16% during the previous month.

Schiff Says Investor Confidence Remains Too High

According to Schiff, the biggest concern is not Bitcoin’s recent price weakness but the level of optimism that still exists among investors.

In a post on X, he argued that market participants remain far too comfortable despite the ongoing decline. Schiff suggested that a break below $50,000 could trigger a rapid selloff, potentially sending Bitcoin under $20,000 and forcing many long term holders to abandon their positions.

The economist has repeatedly maintained that investors seeking stability are more likely to turn to traditional safe haven assets during periods of market stress. He recently questioned whether a major Bitcoin crash would drag down broader risk markets or remain isolated within the digital asset sector, arguing that either scenario could encourage a shift toward perceived stores of value such as gold.

Concerns Over Strategy’s STRC Structure

Schiff also renewed his criticism of Strategy, focusing specifically on its STRC preferred stock offering.

At the time of his remarks, STRC shares were trading below $96, pushing the effective yield to roughly 12%. Schiff argued that if investors begin to doubt the company’s ability to maintain those payments, the share price could continue falling. In that situation, Strategy might be forced to increase the coupon rate to keep the stock trading near its $100 face value, creating what he described as a potential downward spiral.

His comments followed Strategy’s sale of 32 BTC, its first Bitcoin sale since 2022. The company reportedly used the approximately $2.5 million generated from the transaction to help fund preferred stock dividend obligations.

Despite the sale, Strategy remains one of the largest corporate Bitcoin holders in the world, with more than 843,000 BTC on its balance sheet. As a result, the 32 BTC disposal represented only a tiny fraction of its overall holdings.

Market Participants Disagree With Schiff’s Outlook

Not everyone shares Schiff’s pessimistic view. Crypto commentator Alex Marzell dismissed the idea that a drop to $20,000 would shake investor conviction, joking that such a move would simply test how much cash he had available to buy more Bitcoin.

Similarly, Gracy Chen indicated that she would view a decline toward $50,000 as a buying opportunity. Chen believes Bitcoin’s long term outlook remains supported by global monetary expansion, which could continue driving demand for hard assets such as Bitcoin and gold.

However, she acknowledged several short term risks, including continued inflation pressures, the possibility of higher interest rates, and additional selling from large holders such as Strategy and creditors linked to the collapsed Mt. Gox exchange. She also warned that major artificial intelligence related public offerings could divert liquidity away from crypto markets.

Demand Weakness Remains a Key Concern

Meanwhile, Julio Moreno said Bitcoin demand is shrinking at an estimated monthly rate of 232,000 BTC. He argued that the current correction is being driven primarily by weakening demand rather than broader macroeconomic or stock market developments.

His assessment aligns with a recent report from Bitfinex, which suggested Bitcoin has entered a prolonged distribution phase characterized by declining investor conviction and persistent selling pressure. According to the report, the market is showing signs of a gradual erosion in momentum rather than a sudden capitulation event.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market experienced a sharp selloff over the past 24 hours, wiping out roughly $140 billion in value and pushing total market capitalization down to $2.37 trillion, its lowest level since early April.

The steep decline triggered widespread liquidations across the market. Data from Coinglass shows that more than 265,000 traders were liquidated during the period, with total losses reaching $1.63 billion. Long positions accounted for nearly 89% of those liquidations, with Bitcoin and Ethereum traders bearing the brunt of the damage.

Joao Wedson, founder of Alphractal, warned that additional downside pressure could emerge as prices approach key liquidation zones. He noted that once prices begin accelerating toward these levels, a wave of automated liquidations can spread rapidly across multiple exchanges, intensifying market volatility.

Large Bitcoin Holders Continue Selling

According to blockchain analytics firm Santiment, the recent decline in cryptocurrency prices, especially Bitcoin’s weakness over the past week, has been driven largely by selling activity from major holders.

The firm reported that wallets holding between 10 and 10,000 BTC sold a combined 24,602 Bitcoin during the last seven days. In contrast, smaller investors with balances below 0.01 BTC accumulated only 61 Bitcoin over the same period, highlighting a significant imbalance between large scale selling and retail buying.

Market sentiment has also deteriorated sharply. Santiment observed that social media discussions reflect a growing sense of fear among traders, with many reacting negatively to Bitcoin’s lowest valuation since early April. The firm added that concerns surrounding sales linked to Michael Saylor’s Strategy have contributed to the bearish mood.

Long time Bitcoin critic Peter Schiff argued that investor confidence remains too high for the market to have reached a true bottom. He suggested that a break below the $50,000 level could trigger a much deeper correction, potentially forcing long term holders to capitulate.

Meanwhile, Bitcoin author Adam Livingston described the latest decline as a severe selloff, characterizing it as the type of market move that often sparks panic among retail investors.

Bitcoin and Ethereum Extend Losses

Bitcoin fell approximately 6% during the session, touching $65,300 in early Asian trading before stabilizing near $66,500. The flagship cryptocurrency remains under significant pressure and has yet to recover from its two month low.

Ethereum suffered even steeper losses, dropping 7% to around $1,850, its weakest level in four months. Analysts have been warning of a deeper correction across the digital asset market, and recent price action suggests those concerns may now be materializing.

With large holders continuing to reduce exposure, institutional demand remaining subdued, and market sentiment firmly in fear territory, investors are closely watching whether support levels can hold or if another wave of selling is on the horizon.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Bitcoin’s recent market behavior suggests it may be entering a prolonged period of gradual decline, a pattern often associated with previous bear markets. According to the latest Bitfinex Alpha report, weakening demand from both spot buyers and institutional investors is adding to the pressure.

The report notes that options traders are becoming less willing to pay premiums for downside protection. Implied volatility continues to fall, while derivatives activity has dropped to multi month lows, reflecting reduced demand for hedging and lower expectations for significant price swings.

Market Enters a Gradual Decline Phase

Bitfinex analysts believe volatility sellers currently dominate the market, helping suppress the chances of major price movements in either direction. Combined with steadily declining open interest, this points to a gradual erosion in market strength rather than a sudden deleveraging event.

Bitcoin’s performance in May reflects these conditions. The cryptocurrency rallied early in the month and briefly climbed above $82,000, but later reversed course and finished the month down 12.5 percent from its local peak. Analysts said this decline highlights a growing disconnect between broader macroeconomic developments and crypto market performance.

The report argues that internal market factors were the primary cause of weakness throughout May. The shift from early month expansion to sustained distribution suggests a lack of confidence among market participants rather than worsening economic conditions.

One of the clearest signs of this weakening conviction is the performance of spot Bitcoin exchange traded funds, which recorded approximately $3 billion in net outflows over the past three weeks.

At the same time, softer spot demand, profit taking by short term holders, and reduced institutional participation have removed several of the key supports that fueled Bitcoin’s recovery earlier this year. As a result, the market has become increasingly vulnerable to distribution driven selling pressure.

Could June Follow the Same Path as May?

Analysts warn that June could also end in negative territory if Bitcoin continues to follow patterns seen during previous bear markets.

Historical data dating back to 2013 shows that May has typically produced an average return of 7.36 percent, with a median return above 3.5 percent. During bear market years such as 2018 and 2022, temporary recoveries often followed weak starts to the year. However, geopolitical events have played a much larger role in shaping market sentiment over the past two years.

Last year, uncertainty surrounding U.S. tariff policies weighed on markets. This year, tensions involving Iran have emerged as a significant concern. These factors could increase the chances of another weak performance in June.

Still, analysts acknowledge that the outlook could improve if there is a meaningful increase in capital inflows from exchange traded funds and institutional investment products. Strong spot market accumulation could also shift sentiment and support a more positive outcome for Bitcoin before the end of the month.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Robinhood Markets has officially entered the Canadian cryptocurrency market after finalizing its $180 million acquisition of WonderFi, a Toronto-based provider of crypto products and services.

The acquisition gives Robinhood immediate access to Canada’s regulated crypto sector through WonderFi’s established trading platforms and customer base, marking a significant step in the company’s international expansion strategy.

Bitbuy and Coinsquare Join the Robinhood Ecosystem

As part of the transaction, WonderFi’s regulated cryptocurrency exchanges, Bitbuy and Coinsquare, will become integrated into Robinhood’s operations.

Canadian users will gradually gain access to the Robinhood app, which offers cryptocurrency trading with a flat 0.5% fee on Canadian dollar transactions. Customers will also benefit from Robinhood’s user experience, technology infrastructure, and broader suite of financial services.

Strengthening Robinhood’s Global Presence

In its announcement, Robinhood stated that it plans to maintain WonderFi’s existing institutional partnerships while also expanding the institutional crypto business it has been building through Bitstamp.

The move aligns with Robinhood’s long-term objective of creating a global financial platform that integrates investing, trading, and digital asset services.

Following the acquisition, Robinhood’s international customer base now exceeds one million funded accounts. Approximately 300,000 of those customers were added through WonderFi.

The transaction also increases Robinhood’s workforce in Canada. WonderFi employees will join the company’s existing Canadian team, which already includes more than 240 staff members.

Robinhood established its Canadian headquarters in Toronto in 2024, positioning the city as a key engineering and technology hub due to Canada’s strong talent pool.

Robinhood Highlights Strategic Importance of the Deal

Commenting on the acquisition, Johann Kerbrat said WonderFi’s experience operating regulated cryptocurrency platforms for both beginner and advanced users made it a natural fit for Robinhood’s expansion plans.

He added that the company looks forward to introducing more innovative and user-focused investment products to Canadian customers.

Expansion Comes Amid Slower Crypto Trading Activity

The acquisition arrives at a time when Robinhood has been facing weaker cryptocurrency trading volumes.

During the first quarter, the company reported a 47% decline in crypto transaction revenue, which fell to $134 million. Crypto trading volume also dropped 48% year over year to $24 billion.

Although Robinhood’s net income increased 3% to $346 million, the company still fell short of analysts’ expectations for both revenue and earnings.

The Canadian expansion may help diversify revenue sources as Robinhood seeks new growth opportunities beyond its core U.S. market.

Robinhood Continues Building Its Blockchain Ambitions

Robinhood has also been advancing its blockchain infrastructure initiatives.

Earlier this year, the company launched the public testnet for Robinhood Chain, an Ethereum Layer 2 network built using technology from Arbitrum.

The testnet allows developers to begin building and testing applications before the planned mainnet launch later this year.

Several major infrastructure providers have already begun integrating with the network, including Alchemy, Chainlink, LayerZero, and TRM Labs.

With the WonderFi acquisition completed and its blockchain initiatives progressing, Robinhood is positioning itself to play a larger role in both traditional finance and the global digital asset ecosystem.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Interest in Hyperliquid’s native token, HYPE, has reached new heights in 2026, with social media activity and investor sentiment surging as the asset recently climbed to a record price above $73.

Data from Santiment indicates that HYPE’s social dominance has risen to its highest level of the year, reflecting growing enthusiasm across crypto communities on platforms such as X, Reddit, and Telegram.

Social Buzz Accelerates Alongside Price Growth

According to Santiment, positive discussions surrounding HYPE have increased significantly as traders become increasingly optimistic about the project’s future.

The platform noted that Hyperliquid has emerged as one of the strongest-performing projects in the digital asset sector, attracting attention from both retail and institutional participants.

Several factors have fueled this growing momentum, including rising perpetual futures trading activity, continued expansion of Hyperliquid’s decentralized trading ecosystem, and its growing reputation as a viable alternative to traditional centralized derivatives exchanges.

Additional developments such as new product launches, increasing protocol revenue, and expectations of further ecosystem growth have also strengthened investor confidence. As a result, HYPE has become one of the most actively discussed cryptocurrencies in the market.

Analysts See Further Upside Potential

From a technical analysis perspective, market analyst Ali Martinez believes the rally may not be over.

Martinez noted that previous bearish signals have been invalidated, suggesting that the current trend remains intact. If bullish momentum continues, he identified potential price targets around $97 and $163.

These projections have contributed to growing speculation that HYPE could eventually reach triple digit valuations if market conditions remain favorable.

Institutional Attention Continues to Grow

Optimism surrounding Hyperliquid extends beyond retail traders.

Matt Hougan recently described Hyperliquid as one of the most significant crypto projects launched in recent years. He argued that the platform has evolved into a financial “super app” capable of providing access to a wide range of asset classes beyond cryptocurrencies.

Hougan also highlighted Hyperliquid’s tokenomics, particularly its buyback-focused model, which is designed to generate value for token holders from the outset. Based on these characteristics, he suggested that HYPE may still be undervalued despite its impressive performance.

ETF Demand Reflects Strong Investor Interest

Investor enthusiasm is also becoming evident in the exchange traded fund market.

After 21Shares introduced the first U.S. spot Hyperliquid ETF under the THYP ticker, Bitwise launched its own product, BHYP.

According to data from SoSoValue, the two funds have attracted substantial inflows since their launches. THYP has accumulated more than $57 million, while BHYP has drawn nearly $80 million in investor capital.

The strong demand for these investment products highlights growing institutional confidence in Hyperliquid and reinforces the view that HYPE is becoming an increasingly important asset within the broader cryptocurrency market.

As social engagement, trading activity, and institutional participation continue to rise, many investors are closely watching whether Hyperliquid can maintain its momentum and justify the increasingly bullish expectations surrounding the project.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Despite Bitcoin trading well above its 2021 bull market highs for much of the current cycle, activity on the network tells a very different story.

New data from Santiment shows that both user participation and transaction activity remain significantly below the levels recorded during the peak of the last major bull run.

Network Usage Has Dropped Since 2021

At the height of the 2021 rally, Bitcoin averaged approximately 1.12 million active addresses per day, while nearly 489,000 new wallet addresses were being created daily.

Today, those numbers have fallen considerably. The network now records roughly 624,000 active addresses and about 278,000 new wallet creations each day.

Compared with the 2021 peak, active addresses have declined by around 44%, while the rate of new wallet creation has dropped by roughly 43%.

Active addresses are often used to gauge how many unique participants are using the network, while network growth measures the number of new addresses interacting with Bitcoin for the first time. Based on these metrics, Santiment concluded that Bitcoin is currently attracting fewer new users and generating less transactional activity than it did during the retail-driven boom several years ago.

Institutional Adoption Is Changing the Landscape

One of the main reasons for this disconnect may be the growing influence of institutional investment products.

According to Santiment, the rise of spot Bitcoin ETFs and other regulated investment vehicles has allowed investors to gain exposure to Bitcoin without directly interacting with the blockchain. As a result, many participants can invest in BTC without creating wallets or conducting on-chain transactions.

The firm also noted that long-term holders have become increasingly passive. Rather than actively moving their coins, many investors are simply storing Bitcoin for extended periods.

This shift has created a situation where Bitcoin’s market value remains high, but network activity is noticeably lower than during the retail-fueled rally of 2021.

Lower Activity Does Not Necessarily Signal Weakness

Santiment emphasized that declining network activity should not automatically be interpreted as a bearish development.

Historically, major price swings have tended to stimulate on-chain activity as traders move funds and react to market conditions. The current slowdown may instead reflect a period of relatively limited price movement, combined with increasing investor interest in traditional assets such as stocks and gold.

In other words, the decline in network usage may be more closely tied to changing investment behavior than to weakening confidence in Bitcoin itself.

Interest in Crypto Begins to Recover

Although on-chain activity remains subdued, investor attention toward cryptocurrencies has started to improve.

During May, discussions related to Bitcoin increased by approximately 24% compared with the previous month. According to Santiment, the rise in conversation suggests that traders are once again searching for opportunities in the digital asset market, even if capital deployment remains cautious.

The firm noted that participation is still selective, but overall interest appears to be returning after a quieter period.

Traditional Markets Continue to Compete for Attention

At the same time, many investors are increasingly focusing on opportunities outside the crypto sector.

Strong performances in technology, artificial intelligence, semiconductor, and defense stocks have attracted significant interest, encouraging traders to diversify their portfolios. Discussions surrounding equities and exchange-traded funds have also become more common within crypto communities.

This trend suggests that digital assets are now competing more directly with traditional investment sectors for investor attention and capital.

Regulation Remains a Key Market Focus

Regulatory developments also remained a major talking point throughout May.

Many market participants closely followed progress on the CLARITY Act, hoping it would provide long-awaited regulatory guidance for the cryptocurrency industry in the United States.

However, delays and procedural obstacles prevented the legislation from advancing before the end of the month, causing some of the initial optimism to fade and giving way to frustration among investors.

Strategy’s Bitcoin Sale Draws Attention

Another topic that generated significant discussion was the recent Bitcoin sale by Strategy.

The company disclosed the sale of 32 BTC, marking the first publicly reported Bitcoin sale in its history. The announcement sparked speculation about whether Strategy was reconsidering its long-standing commitment to holding Bitcoin indefinitely.

However, the transaction appears to have been related to managing obligations associated with preferred stock rather than signaling a change in the company’s overall Bitcoin strategy.

Even after the sale, Strategy remains one of the largest Bitcoin holders in the world, with approximately 843,706 BTC on its balance sheet.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

While Bitcoin continued its sharp decline on June 2, 2026, the broader altcoin market showed surprising resilience, gaining roughly $4 billion in market value even as the leading cryptocurrency fell below $70,000.

According to crypto analyst Sykodelic, the divergence between Bitcoin and altcoins may indicate that the market is approaching a key inflection point, where smaller cryptocurrencies begin to decouple from Bitcoin’s weakness and establish their own momentum.

Altcoins Show Strength as Bitcoin Struggles

Bitcoin’s recent selloff intensified after it failed to maintain support above $73,000. The asset initially slipped to around $72,500 before extending losses and falling below $68,000, resulting in a daily decline of nearly 6%.

The world’s largest cryptocurrency has now dropped close to 11% over the past week, with analysts warning that a move toward $65,000 remains possible if bearish pressure persists.

Despite Bitcoin’s weakness, many altcoins managed to hold their ground or even post gains.

Sykodelic described the market as exhausted, arguing that alternative cryptocurrencies are no longer reacting negatively to Bitcoin’s declines. He noted that Bitcoin is currently underperforming much of the broader crypto market, a dynamic that has historically appeared near important market bottoms.

The analyst highlighted that total altcoin market capitalization increased by approximately $4 billion during the day, while Bitcoin’s market dominance fell by around 1%.

Several Tokens Deliver Strong Gains

A number of smaller cryptocurrencies recorded impressive rallies despite the broader market downturn.

Among the standout performers was Humanity, which surged roughly 81%. Meanwhile, LAB gained more than 52%, while Worldcoin advanced another 13%, trading near $0.43 at the time of analysis.

The strength shown by these assets has fueled speculation that capital may be rotating into selected altcoins even as Bitcoin remains under pressure.

Technical Indicators Suggest Potential Recovery

Sykodelic also pointed to several technical signals that support a more optimistic outlook for altcoins.

One key indicator is the business cycle index, which currently stands at 54.0. Historically, readings above 50 have been associated with economic expansion and improved risk appetite.

In addition, the analyst noted that the OTHERS.D chart, which tracks the market capitalization of cryptocurrencies outside the largest assets, recently closed above its 200 day simple moving average.

According to Sykodelic, every previous instance in which OTHERS.D reclaimed this long term trend line was followed by gains of at least 250%. He believes the current market structure resembles past cycle bottoms that preceded major altcoin rallies.

Debate Continues Over Liquidity Flows

Not everyone agrees on what is driving current market conditions.

Some analysts have argued that Bitcoin’s underperformance relative to traditional financial markets suggests liquidity is leaving crypto and moving into equities, particularly as major stock indices continue setting new record highs.

However, fellow analyst CrediBULL Crypto disputes that view.

He pointed out that the combined market capitalization of cryptocurrencies outside the top 10 assets remains below $200 billion, making it only a tiny fraction of the size of the stock market. In his assessment, there is little evidence that substantial liquidity is exiting crypto.

Instead, he argues that traditional financial markets contain vast pools of capital that could eventually flow into Bitcoin and altcoins, providing significant upside potential if market sentiment improves.

Signs of a Shift?

Although Bitcoin remains under pressure, the ability of altcoins to maintain strength during a sharp BTC correction has attracted attention from traders searching for early signs of a trend reversal.

Whether this divergence marks the beginning of a broader altcoin recovery remains uncertain, but for now, the market is displaying characteristics that some analysts associate with previous cycle turning points.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market experienced another wave of heavy selling pressure as Bitcoin fell below $68,000, triggering more than $1 billion in liquidations across leveraged trading positions.

As expected during a sharp market decline, long traders bore the brunt of the losses, accounting for the vast majority of liquidated positions.

Bitcoin Extends Decline to Multi Month Lows

Bitcoin’s downturn accelerated after it lost the key $70,000 support level, opening the door for a deeper correction.

Just a few weeks ago, the leading cryptocurrency was trading above $82,000 before encountering strong resistance and entering a sustained downward trend. The selloff intensified at the start of June, with Bitcoin dropping from roughly $74,000 to around $67,500 in less than two days.

The move represents a decline of approximately $6,500 in about 40 hours and marks Bitcoin’s lowest trading level in nearly two months.

The latest weakness has reinforced bearish sentiment across the market, with some analysts warning that BTC could continue falling toward the $65,000 level or potentially even lower if current support zones fail to hold.

Bitcoin Dominance Continues to Decline

Despite broad weakness across the cryptocurrency market, many altcoins have outperformed Bitcoin during the recent selloff.

As a result, Bitcoin’s share of the total crypto market has dropped below 56%, according to market data. The dominance metric has fallen by more than 1% in the past 24 hours and over 2% during the last week.

While most alternative cryptocurrencies remain in negative territory, their losses have generally been less severe than Bitcoin’s, contributing to the decline in BTC’s market share.

Some market participants have also speculated that Strategy’s recent decision to sell a small portion of its Bitcoin holdings may have added to the negative sentiment surrounding the asset, although no direct connection has been confirmed.

More Than 170,000 Traders Liquidated

The speed and scale of Bitcoin’s decline triggered widespread liquidations across derivatives markets.

Data from CoinGlass shows that more than $1 billion worth of leveraged positions were wiped out over the past 24 hours. Approximately 90% of those liquidations came from long positions as traders betting on higher prices were caught off guard by the sudden downturn.

In total, more than 170,000 traders were liquidated during the selloff.

The largest single liquidation order occurred on Hyperliquid, where a position worth more than $27 million was forcibly closed.

With market volatility remaining elevated and Bitcoin trading near recent lows, traders are closely monitoring whether the market can stabilize or if another wave of liquidations could follow.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic