Bitcoin (BTC) extended losses after Friday’s Wall Street open as traders prepared for a retest of $60,000.

Key points:

• Bitcoin begins a battle to protect $60,000 support as sell-side pressure refuses to cool.
• Analysis sees early signals that “seller exhaustion” is here.
• US nonfarm payrolls data produce a stronger-than-expected picture of US labor market conditions.

Bitcoin battles for $60,000 support

Data from TradingView showed daily BTC price downside approaching 5% as sellers stayed in the driving seat.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

“Rapidly approaching its February low at $60K. Now in its 6th red daily candle and down more than the entire April/May rally,” trader Daan Crypto Trades noted in a reaction on X. 

“Really was a case of stairs up elevator down which is something we often see in these larger bear trends. Eyes on that $60K area for now.”

BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/X

Commentator Expitump referenced the Coinbase Premium, the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs and a key yardstick for US demand.

“Price is still under controlled selling, but seeing funding getting almost into negative and coinbase discount decreasing,” they summarized in their latest market coverage. 

“Early signs of seller exhaustion.”

Binance Bitcoin futures 30-minute chart with order-book data. Source: Exitpump/X

Trader Morin said that BTC/USD was now “frontrunning a key range low” with the key $60,000 mark in sight.

“Swept 61.3k internal low but failed to make higher high. Consistent lower highs -> Sellers in Control,” he told X followers. 

“Wouldn’t be surprised to see 60s traded or even ran through.”

BTC/USD 30-minute chart. Source: Morin/X

risk assets
Nonfarm payrolls further reduce Fed rate-cut odds

Crypto bulls were not helped by macro data, with US nonfarm payrolls considerably outpacing expectations to suggest a stronger labor market. 

Related: Bitcoin needs one more thing to happen to spark BTC price ‘rally:’ Analysis

The economy added 172,000 jobs in May, more than double the anticipated 85,000.

“April’s jobs number was also revised UP by +64,000 jobs. This marks the second strongest US jobs report in 13 months,” trading resource The Kobeissi Letter responded.

Fed target rate probabilities (screenshot). Source: CME Group

Higher jobs numbers notionally reduce the need for the Federal Reserve to cut interest rates and provide crypto and risk assets with a liquidity tailwind. Data from CME Group’s FedWatch Tool showed markets pricing in a rate hike before the end of the year.

Commenting, trading resource Mosaic Asset Company argued that strong labor-market data would in fact complicate the Fed’s task.

“If the payrolls report for the month of May confirms underlying strength in the economy and labor market, the outlook for monetary policy will grow more uncertain given the recent jump in consumer and producer inflation,” it wrote previously in its latest Mosaic Chart Alerts update. 

“At the same time, evidence of solid economic activity is helping the average stock catch up to the gains in the S&P 500 and Nasdaq.”

TLDR

• BlackRock recorded $47.66 million in Bitcoin ETF inflows on June 5.
• The inflow ended a 13-day streak of consecutive outflows for the fund.
• Bitcoin traded near $61,000 during the same session.
• The asset declined more than 15% over the past week.
• The broader Bitcoin ETF market continued to face pressure.

BlackRock ended a 13-day outflow streak with fresh capital entering its Bitcoin ETF on June 5. The fund attracted $47.66 million in new inflows during its latest session. The reversal occurred as Bitcoin retested $61,000 and extended weekly losses beyond 15%.

BlackRock ETF Posts $47.66M Daily Inflow

Data from SosoValue showed BlackRock’s Bitcoin ETF added $47.66 million on Friday. The inflow marked the product’s first positive session in nearly two weeks. The fund had recorded consecutive red days as institutions reduced exposure.

The broader Bitcoin ETF market experienced steady withdrawals for almost three weeks. However, BlackRock reversed that pattern with a single day of fresh allocations. Market data confirmed that other issuers still faced pressure during the same session.

Bitcoin price traded near $61,000 when the inflow occurred. The price level matched levels last seen in February 2024. Over the past week, Bitcoin declined more than 15% as volatility persisted.

Bitcoin Price Weakness Continues Across Market

Bitcoin extended its decline as traders reassessed risk exposure. The asset moved lower during the week and tested support near $61,000. Market charts reflected sustained selling pressure across major exchanges.

The broader crypto market also remained under strain. Major tokens retested 2024 price levels during recent sessions. Total market capitalization contracted as liquidity tightened.

Despite falling prices, BlackRock attracted fresh ETF capital. The timing contrasted with earlier sessions when funds saw redemptions. Market participants linked prior outflows to ongoing volatility and reduced institutional appetite.

BlackRock’s reversal sparked discussion across trading desks. Some analysts cited positioning ahead of potential price stabilization. However, no official statement explained the sudden inflow.

SosoValue data confirmed that BlackRock led daily inflows within the ETF segment. Other products posted either neutral or negative flows during the session. The update highlighted a divergence within the ETF landscape.

Bitcoin remained below its October 2025 peak of $126,000. The asset traded more than 50% lower than that record. Weekly declines compounded the broader market drawdown.

Institutional ETF flows often track broader sentiment shifts. This session broke a 13 day sequence of capital withdrawals. BlackRock’s daily report reflected renewed allocation activity.

The crypto market continued trading in the red zone. Prices across leading assets remained under pressure. Exchange volumes reflected cautious positioning.

BlackRock’s Bitcoin ETF recovery arrived during heightened volatility. The inflow stood at $47.66 million for the trading day. SosoValue published the data on Friday, June 5.

Bitcoin held near $61,000 at the close of the session. The weekly decline exceeded 15% at that point. ETF flow data remained the latest confirmed update from market trackers.

Memecoins are usually where traders go looking for risk. This week they’re where risk is getting cut first. Dogecoin and Shiba Inu both shed roughly 9% as bitcoin drifted toward the $60,000 level, with the sharpest selling concentrated in the most speculative corners of the market.

News Background

• Broader crypto sentiment deteriorated as bitcoin slipped toward the psychologically important $60,000 level, triggering liquidations across altcoins and memecoins.

• Derivatives traders moved into defensive positioning, with DOGE futures open interest falling and SHIB open interest hovering near cycle lows.

• Despite the selloff, both tokens continue to show conflicting signals underneath the surface, with DOGE and SHIB seeing sizeable exchange outflows that would normally be associated with accumulation.

Price Action Summary

• Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that had guided price action since February.

• Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy selling pressure.

• Both tokens saw their biggest volume spikes during breakdowns rather than recoveries, a sign sellers remained in control throughout the session.

Technical Analysis

• DOGE’s breakdown below channel support is the more important development than the percentage decline itself. The ascending structure had held for four months, and losing it shifts attention toward lower support levels near $0.067.

• SHIB’s chart looks weaker still. The token remains below every major moving average and continues printing lower highs and lower lows despite aggressive token burns and ecosystem growth.

• In both cases, exchange outflows failed to support price. That usually means traders are paying more attention to macro conditions and momentum than longer-term accumulation signals.

• Oversold readings are beginning to appear across momentum indicators, but neither DOGE nor SHIB has shown convincing evidence of a durable reversal.

What traders should watch

• For DOGE, the key level is $0.0819. A clean break below it would strengthen the case for a move toward $0.067.

• For SHIB, support sits near $0.000004575. Losing that area exposes the next downside zone around $0.000004500.

• Recovery attempts face immediate resistance at $0.0883 for DOGE and $0.000004780 for SHIB, both former support levels that have now turned into overhead supply.

• Until buyers start reclaiming broken support rather than merely bouncing from oversold conditions, the path of least resistance remains lower.

A set of seven crypto tax bills are being circulated in advance of a hearing of the U.S. House Ways and Means committee next week, with each of the legislative drafts tackling its own narrow aspect of digital assets tax treatment, including relaxing demands for taxes on small transactions and the assets gains in mining and staking.

The committee that oversees tax issues is set to discuss the ideas on June 9, and the legislative text indicates that the panel is targeting a number of areas with focused bills. The various proposals include eliminating tax demands on certain small ( or “de minimis”) transactions, stablecoin activity and network fees; governing the taxation of assets acquired through crypto mining; melding digital assets with existing tax treatment of securities; applying so-called wash sale rules to crypto; and cutting out an appraisal requirement in digital asset donations to charity.

Reducing the mining and staking tax burden is a major component of the industry’s tax-policy strategy, focused on eliminating double taxation in which the assets are taxed both at the time of acquisition and at the point of sale. One of the draft bills seeks to address that issue.

Cody Carbone, the CEO of the Digital Chamber, said in a statement he welcomes the coming hearing as a chance “to refine these proposals and keep the bipartisan tax effort moving forward.” He added that his organization will work with the committee “to strengthen the drafts and deliver the tax clarity and fairness digital assets deserve.”

Though the Digital Asset Market Clarity Act has been the top U.S. policy focus of the crypto industry, Washington lobbyists have routinely said that crypto tax policy was next in line. There have been a number of previous efforts to tackle the lack of clarity on what should constitute a taxable gain in the digital assets space, including an initiative pushed by Senator Cynthia Lummis, a Wyoming Republican who leads a digital assets subcommittee in the Senate Banking Committee.

Lummis has sought and failed to get traction on the ideas several times, including an unsuccessful attempt to get them attached last year to the Republican’s One Big Beautiful Bill spending package.

The arrival of bipartisan crypto tax efforts in the House comes fairly late in the congressional session, though there will be a number of must-pass bills this year that could have items attached to them.

Crypto.com broadens sports tie-ups and adds TradingView trading to its exchange

Crypto.com used its latest affiliate newsletter to highlight a string of commercial and product moves intended to raise mainstream visibility and improve the trading experience for active users. The updates include partnerships that put the platform closer to sports fans, a direct execution integration with TradingView on the Crypto.com Exchange, and a weekly market snapshot showing a pullback in prices alongside rising volatility and pockets of outperformance.

Sports and collectibles: Fanatics and SailGP agreements

In the newsletter, Crypto.com announced a collaboration with Fanatics Collectibles to develop what it described as the first UEFA Champions League activation between the two companies. Separately, Crypto.com and OG Prediction Markets were named global partners of the United States SailGP team. Both moves underscore an ongoing strategy among major crypto platforms to lean on high-profile sports partnerships to reach mainstream audiences and lend legitimacy to their brands.

For affiliates and content creators, the company framed the deals as opportunities to appeal to sports-focused communities. Industry observers say such sponsorships can increase short-term brand recognition and drive user acquisition if paired with compelling customer journeys, such as collectible drops or co-branded promotions. However, the marketing lift from sponsorships can vary depending on execution, local regulatory constraints and the degree to which the partnerships translate into active product use.

TradingView integration aims at active traders

Crypto.com confirmed that the Crypto.com Exchange now supports direct trade execution from TradingView. The integration lets users place orders from TradingView’s charting interface while routing executions through the Crypto.com Exchange, combining advanced technical analysis tools with the exchange’s order flow.

This type of connectivity is increasingly common across major venues. For traders, the appeal is straightforward: fewer steps between analysis and execution, plus the ability to use TradingView’s scripting and drawing tools while tapping an exchange’s liquidity. For exchanges, integrations with third-party charting platforms are a defensive and acquisitive play, making it easier to retain active traders who otherwise might prefer platforms offering native advanced charting.

From a competitive standpoint, the move positions Crypto.com’s Exchange alongside peers that already provide charting and execution linkups. Execution quality, latency and fee structure will determine whether the feature materially shifts market share among professional and semi-professional users.

Market snapshot: small price declines, higher volatility, token winners

Crypto.com’s research dashboard data included in the newsletter showed a modest weekly pullback: the price index fell about 3.53% while the volume index dropped roughly 3.97%. At the same time, the volatility index increased by about 27.6%, signaling choppier trading conditions over the period.

Bitcoin and Ether were cited as down around 4.4% and 4.5% respectively for the week, while smaller-cap or niche tokens produced the biggest moves. Hyperliquid (HYPE), Toncoin (TON) and Hedera (HBAR) were highlighted as leaders in price gains. The newsletter attributed HYPE’s momentum in part to increased whale activity and flows into recently launched U.S. spot ETFs connected to the project, noting more than $100 million in inflows during May.

Rising volatility and selectively strong token performance underline a bifurcated market: major-cap assets remain sensitive to macro headlines and liquidity conditions, while idiosyncratic catalysts can drive outsized moves in specific tokens. Affiliates and traders should weigh the increased dispersion when positioning content or strategies, as headline returns from smaller tokens often come with elevated execution and custody risks.

Affiliate and creator program developments

The newsletter also served operational purposes for partners. Crypto.com flagged a new dedicated creator program for key opinion leaders and influencers, instructing eligible partners to check their inboxes for invitations. The update included a reminder to track mentions of “Crypto.com” to ensure proper attribution in the affiliate system, and listed several top-performing creative assets such as app banners and product-level creative concepts.

These program touches speak to an ongoing professionalization of crypto affiliate channels: firms increasingly provide creators with targeted content, measurement tools and bespoke offers to influence user acquisition. The approach helps platforms manage compliance and performance simultaneously, though creators must remain mindful of local advertising and financial promotion rules when promoting crypto products.

What this means for the market and affiliates

Taken together, the announcements reflect a dual strategy: use consumer-facing partnerships to widen brand reach, while improving product-level features to better serve active traders. For affiliates, the commercial tie-ins create new promotional narratives — sports fandom, collectibles and exclusive creator benefits — that can be leveraged to reach distinct audience segments.

On the product side, TradingView execution capability addresses a clear user need for integrated workflows. Whether it translates to measurable market-share gains will depend on the execution experience, liquidity and whether Crypto.com can combine these features with differentiated pricing or service levels for professional users.

Finally, the market snapshot is a reminder that trading conditions remain mixed: marginal declines in major assets alongside higher volatility and selective winners mean that marketing messages and trading strategies need to be tailored to audience risk tolerance and regional regulatory limits. Crypto.com’s newsletter itself notes jurisdictional constraints in product availability, a practical consideration for affiliates operating across multiple markets.

Source: Crypto.com affiliate newsletter, June 2026.

MEXC expands beyond futures with RealStocks, offering access to U.S. stocks and ETFs via USDT.

Crypto trading is becoming less isolated from the rest of the market. Users who once came to exchanges mainly for tokens, spot pairs, and futures are now tracking equity themes, macro moves, and alternative assets in the same daily workflow.

MEXC’s April data gives one recent example. INTC futures volume rose 1,684 percent month over month, while AMD, TSM, and NVIDIA-linked futures also posted triple-digit growth. Activity also increased across QQQ, GOOGL, and SP500 futures, showing how traditional market themes are moving deeper into crypto exchange behavior.

For MEXC users, this interest has already been visible through TradFi-linked futures. The exchange says the category now covers more than 130 traditional financial assets, including U.S. equities, stock indices, ETFs, precious metals, commodities, and foreign exchange products. RealStocks extends that path from futures exposure into U.S. stock and ETF access. Eligible users can reach U.S.-listed stocks and ETFs through licensed broker and clearing infrastructure, transact in USDT and use MEXC’s existing interface.

A different route into U.S. stocks

U.S. stock access is now one of the areas where crypto exchanges and RWA platforms are testing different models. Bitget Reality, Ondo Stocks and xStocks have helped shape the tokenized equity narrative. Gate Stocks and Binance’s stock-access plans, including bStocks, point to another route where exchanges bring stock and ETF access closer to existing users.

For users comparing these options, the distinction is practical. Tokenized products may appeal to those who want on-chain portability or DeFi connectivity. Broker-based stock access may appeal to users looking for a route closer to traditional equity ownership, including dividend or distribution eligibility where applicable. RealStocks sits in that second group while keeping the trading flow close to crypto user habits.

How RealStocks fits the MEXC user journey

MEXC says RealStocks was validated by more than 20,000 users during its beta phase before the official launch. The product is connected through Atomic Vaults. MEXC describes the company as a U.S. FINRA-licensed broker-dealer and brokerage infrastructure provider backed by Founders Fund and ARK Invest.

Through that structure, eligible users can access thousands of U.S.-listed stocks and ETFs. Trading hours follow Nasdaq market sessions, and settlement follows a T+1 structure. Where applicable, users may also receive dividends or distributions on their holdings.

For someone who already holds stablecoins, RealStocks keeps U.S. equity access closer to the exchange workflow they already know. Users can test stock and ETF access through USDT-based trading without moving into a separate brokerage environment.

RealStocks makes MEXC’s “Gateway to Infinite Opportunities” initiative easier to understand in product terms. Users already encounter crypto assets, tokenized products, TradFi-linked futures, commodities, precious metals and other market-linked instruments inside the MEXC ecosystem. RealStocks adds U.S. stock and ETF access to that mix.

A trader may begin with spot crypto, then move into futures during periods of higher volatility. When U.S. technology stocks are active, the same user can follow AI semiconductor futures and use RealStocks to access listed U.S. equities or ETFs. For users, the value is straightforward: fewer separate systems when they are following several market themes at once.

Zero Fees and launch incentives lower the first step

Fees matter most when users test a new product for the first time. MEXC says RealStocks carries zero platform trading fees during the launch period where available. For users entering a new asset category, this can reduce concerns around onboarding, funding, currency conversion, and trading costs.

The launch also includes limited-time incentives for eligible users, including activity-based rewards and support for real-time market data access.

MEXC has also used zero-fee positioning across other parts of its ecosystem. In April, the company highlighted user fee savings during its 0-Fee Fest, including activity from TradFi-linked futures products. For active users, the relevance is clear. A new asset category becomes easier to test when they are already moving between different market themes.

From crypto account to wider market access

For exchanges, competition is expanding beyond token availability and trading fees. Users are also looking at how easily a platform lets them move between crypto assets, equity themes and other market-linked products.

RealStocks strengthens MEXC’s position in this market by adding U.S. stock and ETF access to a platform where users already encounter crypto assets, tokenized products and TradFi-linked futures. It connects the company’s “Gateway to Infinite Opportunities” message to a practical trading experience built around USDT funding and the existing MEXC interface.

Ripple-backed SBI Holdings has expanded its role in Solana’s institutional ecosystem after its crypto subsidiary secured responsibility for managing the SOL treasury operations of Tokyo-listed WIZE.

According to an announcement from SBI VC Trade, the company will oversee the trading, custody, storage, and management of Solana (SOL) assets held under WIZE’s corporate treasury strategy. The arrangement places SBI VC Trade at the center of WIZE’s efforts to build and maintain a SOL-based treasury as part of its long-term business plans.

Operating through its institutional platform SBIVC for Prime, SBI VC Trade said it will provide services covering cryptocurrency trading, asset management, treasury management, and Web3-related support for large-scale clients. Under the agreement, WIZE will use the platform for transaction execution and custody of its Solana holdings.

WIZE launched its Solana Treasury Business in 2025, positioning SOL as a key component of its balance-sheet strategy.

The company has previously stated that digital assets could eventually complement its existing social entertainment and media operations. Through the new partnership, SBI VC Trade will handle the operational side of acquiring, storing, and managing those holdings.

WIZE selects SBI for institutional Solana support

Details released by SBI VC Trade show that WIZE selected the firm after evaluating multiple service providers. According to the announcement, factors considered during the review included regulatory compliance, operational security, and the ability to support institutional digital asset activities.

Registered to provide crypto-related services in Japan, SBI VC Trade operates under the country’s regulatory framework for digital asset businesses. The company is part of SBI Holdings, which has maintained a long-standing relationship with Ripple through investments and business partnerships.

For SBI VC Trade, the deal adds another institutional client to its growing digital asset business. The company said services offered through SBIVC for Prime are designed for corporate and institutional customers seeking trading, custody, and asset management solutions.

Institutional interest in Solana continues to grow

Elsewhere in the market, several recent developments have pointed to rising institutional engagement with Solana.

Only weeks before the WIZE announcement, Wall Street banking giant Morgan Stanley resubmitted an application for a spot Solana exchange-traded fund in the U.S.

The proposed fund, which would trade under the ticker MSOL if approved, is designed to hold SOL directly while staking a portion of the assets to generate yield for investors. According to the filing, the ETF would be listed on NYSE Arca pending approval from the U.S. Securities and Exchange Commission.

The SBI-WIZE partnership arrives as asset managers, treasury-focused firms, and financial institutions continue to explore Solana-related products and investment strategies.

Separate from its Solana activities, SBI Holdings recently entered the artificial intelligence sector through a partnership with Anthropic. According to SBI, the collaboration will bring Anthropic’s Claude AI technology into company operations. The announcement followed Anthropic’s confidential filing for an initial public offering, which was submitted earlier this year.