Bitcoin price has fallen below $60,000 after a stronger-than-expected U.S. jobs report prompted traders to scale back expectations for Federal Reserve rate cuts and price in a higher probability of policy tightening later this year.

Summary

• Bitcoin fell below $60,000 after a stronger-than-expected U.S. jobs report reduced expectations for Fed rate cuts and increased odds of rate hikes later this year.
• More than $1.7 billion in crypto positions were liquidated as leveraged traders rushed to exit after BTC lost a key support level.
• Despite the selloff, spot Bitcoin ETFs recorded net inflows for the first time in 13 trading days, while on-chain data suggests capitulation among short-term holders may be reaching extremes.

According to data from crypto.news, Bitcoin (BTC) price fell to an intraday low of around $59,100 on June 5 before stabilizing near $59,400 at press time. The move extended a 10-day decline of roughly $19,000 from recent highs and pushed the cryptocurrency below the closely watched $60,000 support area for the first time since 2024.

Fresh labor market data triggered the latest wave of selling. The U.S. economy added 172,000 nonfarm payrolls in May, far above expectations of 85,000, while the unemployment rate held steady at 4.3%. Revised data also added 93,000 jobs to the previous two months, reinforcing the view that labor conditions remain resilient despite slowing growth elsewhere.

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BREAKING: The US economy adds 172,000 jobs in May, crushing expectations of 85,000.

The unemployment rate was 4.3%, in-line with expectations of 4.3%.

April’s jobs number was also revised UP by +64,000 jobs.

This marks the second strongest US jobs report in 13 months.

— The Kobeissi Letter (@KobeissiLetter) June 5, 2026

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BNP Paribas added to the hawkish narrative this week after abandoning its expectation for stable monetary policy and forecasting three Federal Reserve rate hikes beginning in December. The bank cited persistent inflation risks, firm employment conditions, and the potential impact of the ongoing U.S.-Iran conflict on energy prices.

Following the jobs report, Polymarket assigned a 52% probability to a Fed rate increase before year-end, while CME FedWatch showed a 42.7% chance that rates will be higher by December.

Derivatives markets amplified the selloff as leveraged positions unraveled. CoinGlass data showed that more than $155 million in crypto long positions were liquidated within a single hour, while total liquidations topped $1.7 billion over the past 24 hours. Forced selling accelerated after Bitcoin lost the $60,000 level, triggering liquidation engines across major exchanges.

Institutional flows offered one of the few signs of stabilization. U.S. spot Bitcoin ETFs recorded roughly $3 million in net inflows on June 4, ending a 13-day streak of withdrawals that had drained $4.37 billion from the funds, per data from SoSoValue. Although the inflow was modest, it interrupted the longest period of sustained selling pressure from ETF investors this year.

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Meanwhile, traditional safe-haven assets failed to attract buyers during the risk-off move. Gold fell roughly 3.5% while silver dropped 7.5%, suggesting investors were reducing exposure across multiple asset classes rather than rotating capital into precious metals.

Strategy also returned to the spotlight as Bitcoin traded below the firm’s average acquisition cost. The company’s unrealized losses have climbed above $12.7 billion, renewing debate around corporate Bitcoin treasury strategies.

CryptoQuant chief executive Ki Young Ju pushed back against concerns surrounding Strategy’s position, arguing that long-term whales have been a much larger source of supply.

“Strategy bought over 700K BTC from OG whales and only sold 32 BTC,” Ju wrote, adding that the firm’s purchases helped absorb coins that might otherwise have entered the market.

Bitcoin derivatives and on-chain data suggest capitulation may be nearing

Options positioning around the $60,000 strike has become a major focus for traders. According to Deribit Chief Commercial Officer Jean-David Péquignot, more than $1.2 billion in notional open interest is tied to put options at that level.

A sustained move below $60,000 could force market makers to hedge short gamma exposure by selling spot Bitcoin or futures contracts. Combined with elevated leverage across perpetual futures markets, that process may increase volatility if sellers remain in control.

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On-chain metrics, however, are beginning to show conditions often associated with late-stage capitulation.

According to analyst Seth, the percentage of Bitcoin holders in profit has reached a long-term trendline that has coincided with major cycle lows in previous drawdowns. The analyst noted that the depth of those drawdowns has decreased with each cycle and argued that a bottom could be near if historical behavior repeats.

Important metric to look at

The number of $BTC holders in profit hitting this HTF trend line

The drawdown is less every cycle, a clear trend.

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I have shown you this trend before. Bottom should be near here if it follows past cycles.

What do you think about this chart?

If… pic.twitter.com/IpZdBHoiys

— Seth (@seth_fin) June 5, 2026

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Additional data shared by market commentator Scott Melker highlighted growing stress among newer Bitcoin investors.

“$BTC short-term holders are now realizing losses at the biggest level in history. The short-term holder realized profit/loss ratio just hit a new all-time low, deeper than any previous drawdown.”

Melker added that long-term holders now control roughly 5.3 million BTC at a loss, a figure that exceeds post-FTX levels and represents the highest amount of underwater long-term supply since the COVID-era market crash.

Technical breakdown puts $55K support zone in focus

The daily chart shows Bitcoin trading well below the Supertrend indicator, which now sits near $69,700 and acts as immediate resistance. A failed recovery attempt beneath that level has left sellers firmly in control of the short-term trend.

Momentum indicators also remain weak. The MACD line has dropped sharply below the signal line while the histogram continues to expand in negative territory, showing persistent downside momentum after the breakdown from the $72,000-$75,000 range.

The loss of $60,000 leaves the February low near $55,000 as the next major support zone. A decisive break below that area could expose the psychological $50,000 level and trigger another round of liquidation-driven selling.

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Bulls would need to reclaim $60,000 quickly to ease immediate pressure. A recovery above the Supertrend resistance near $69,700 would invalidate the current bearish structure and reopen the path toward the $75,000 area. Until then, stronger-than-expected economic data, rising rate-hike expectations, and heavy derivatives positioning remain key risks for Bitcoin.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Many popular altcoins, including Ethereum (ETH), Ripple (XRP), and Solana (SOL), have declined by 5%-8% over the past day, in line with the broader market’s bearish conditions.

Four lesser-known tokens, however, experienced much more substantial losses, and the main culprit is Binance.

What Happened?

The world’s largest crypto exchange conducted yet another review of the digital assets listed on its platform to assess whether they meet industry requirements, including team commitment, level of development activity, trading volume, adequate liquidity, network stability, and more.

Following the analysis, it decided to terminate all services with Contentos (COS), Dar Open Network (D), Highstreet (HIGH), and MOBOX (MBOX). The delisting effort is scheduled for June 19, but the announcement has already caused a price collapse for the affected coins. All of them have plummeted by more than 25% daily, with COS the biggest loser, down around 31%.

Such dramatic price swings shouldn’t be surprising, as losing support from a heavyweight like Binance typically results in thinner liquidity, reduced availability, and reputational damage.

A few weeks ago, the exchange said goodbye to Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS), sparking similar price reactions.

Binance also removed the trading pairs AXL/BTC, CRV/BTC, EGLD/BTC, OPN/BNB, POL/ETH, QTUM/USDC, and SKY/BTC. However, the move didn’t trigger a massive price drop, as the termination of all trading services for those assets might have.

Additional Announcements

The company disclosed that it will support the NEAR Protocol (NEAR) network upgrade and hard fork. The development is scheduled for June 10 and will include a temporary suspension of token deposits and withdrawals on that blockchain.

Binance promised to handle all technical requirements involved for users, assuring that operations will be restored once the upgraded network is “deemed to be stable.” It also said that token trading will not be affected.

This is a standard procedure carried out multiple times in the past, and so far there haven’t been any reports of major complications. Towards the end of May, Binance briefly halted deposits and withdrawals on the Ethereum network to perform wallet maintenance. Prior to that, it implemented such measures to support improvements across other ecosystems, including Cardano and BNB Chain.

The post Binance Sparked a Massive Crash for 4 Altcoins: Check out How appeared first on CryptoPotato.

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A sharp crypto market sell-off this week dragged most major tokens lower, yet a handful of altcoins pushed against the trend. DeXe, JUST, and Audiera all posted gains while the broader market bled.

Each of the three holds a constructive technical structure heading into the weekend. Their charts show buyers defending key support levels, even as risk appetite across the market stayed weak.

DeXe Leads the Resilient Altcoins

DeXe (DEXE) trades near $20, up roughly 8% over the past 24 hours. The token recently hit a four-year high close to $24, its February 2025 peak.

Price has since cooled to the 0.786 Fibonacci retracement around $19.40. Layered support sits below at $15.60, $13, and $10, with each level tied to a Fibonacci marker.

However, volume has thinned during the latest leg higher. That points to a weaker conviction behind the rally. The RSI also sits above 70 after several touches near the top, so a short pause would not surprise.

JUST Bounces From Trendline Support

JUST (JST) changed hands near $0.080, up about 8% on the day. The token fell roughly 20% on June 3 as the market collapsed.

It then bounced off its ascending trendline and the 0.382 Fibonacci level near $0.075. That zone marks a standard area of support. A deeper drop would likely find a floor at the 0.618 retracement near $0.061.

Upside targets sit at $0.084 and then the $0.10 region, a level also flagged in an earlier forecast. Volume spiked on both the sell-off and the rebound. The RSI dipped toward oversold without reaching it, then recovered to neutral.

Audiera Breaks Out of a Long Base

Audiera (BEAT) trades near $1.60, up about 13% over the past 24 hours, extending a months-long rally. The token spent months building a rounded double-bottom base since early January.

It broke out on May 22 and quickly reached its first target near $1.27. After a brief correction, BEAT is pushing higher again.

The next target sits at the 0.382 Fibonacci level around $2. Beyond that lies the prior swing high at $2.43. The RSI holds in bullish territory, and rising volume supports the move.

Altcoins to Watch: Setup Suggestions

All three altcoins look constructive, yet they sit at different stages. DeXe is cooling off after tagging its long-term target. JUST is defending support after a healthy pullback.

Audiera holds the most room to run inside a fresh breakout. A broader market recovery could accelerate each move, while another leg down would test the support levels named above. The charts, not the headlines, will decide the next move.

The post 3 Altcoins Defying the Market Sell-Off This Weekend appeared first on BeInCrypto.

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Crypto spot volume on centralized exchanges fell to $679 billion in April 2026, the lowest monthly level since October 2023. The drop reflects a grinding bear market that has drained activity across spot and futures.

Beneath the falling totals, the market is changing shape. Trades are growing larger and more institutional, while traditional assets such as gold and oil now trade actively on crypto venues, according to a new CryptoQuant report.

The Contraction Runs Across Spot and Futures

Total spot volume has fallen sharply from its late-2024 peak near $2.6 trillion. That marks a decline of roughly two-thirds from the high. CryptoQuant ties the slide to an ongoing crypto bear market that has suppressed trading since 2025.

Perpetual futures volumes fell in parallel. Leverage appetite contracted alongside spot price weakness, the report said. The pullback points to traders cutting risk rather than adding it.

Bitcoin (BTC) traded near $62,000 on June 5, well below its October 2025 peak above $122,000, according to CoinGecko. The current downturn has been slower and, unlike the 2022 collapse, has had no cascading failures.

Crypto Spot Volume Pools Into Fewer Exchanges

The volume that remains is concentrating on a small group of deep venues. Binance, Bybit, Gate, and Crypto.com led cumulative spot volume so far this year, CryptoQuant said.

CoinGecko data shows a similar pattern. Binance handled about 23% of spot volume across top-tracked exchanges on June 5, with Bybit and Gate ranking next. The five largest venues together took close to 40% of that volume.

Average Bitcoin trade sizes have risen on spot and futures since 2025. CryptoQuant reads the trend as institutional players making up more of the remaining activity. Larger tickets tend to favor exchanges with the deepest order books.

Gate led those average trade sizes at the margin. Kraken and OKX also ranked high, a sign of larger-scale execution. The shift mirrors the bear market price action that has thinned out smaller traders.

Traditional Assets Move Onto Crypto Rails

Trading of traditional assets on crypto exchanges reached record highs in 2026. Demand centered on gold and silver, while oil gained momentum on the US-Iran conflict.

Gate and Binance accounted for roughly two-thirds of that traditional futures volume. The pattern shows traders using crypto venues for around-the-clock macro exposure. That access matters most when traditional markets are closed on weekends and holidays.

In perpetual futures, liquidity is clustered on Gate, Binance, OKX, and Bitget. Hyperliquid’s trading volume has also emerged as a fast-rising competitor in that market.

The headline numbers point to a market in retreat. The composition of what remains, however, suggests a structural shift toward institutions and traditional assets that could outlast the downturn.

The post Crypto Spot Volume Hits 2.5-Year Low as the Market Quietly Changes Shape appeared first on BeInCrypto.

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Decentralized artificial intelligence network DGrid AI generated $20 million in revenue in its first six months, giving the project a paid-user base ahead of its planned DGAI token launch.

Revenue came through the Genesis premium program, which has attracted more than 13,000 paid users with an average revenue per user of $1,580. 

DGrid also reports 50,000 daily active users and 500,000 monthly active users across its ecosystem.

DGrid is building a decentralized smart network for AI, connecting users, developers, models, and agents through a marketplace, smart routing system, and Proof of Quality verification for AI services.

Genesis Premium Program Builds Early Revenue

Genesis is currently DGrid’s revenue engine, with members paying for network access and receiving benefits connected to AI usage, hardware, monthly token credits, AI model services, and membership NFTs. 

Under DGrid’s economic model, those NFTs are linked to 25% of total DGAI emission rights over ten years.

The model combines usage-led demand with token-linked participation before the token generation event. 

Some members use Genesis for AI model access and lower usage costs, while others focus on future DGAI distribution connected to the membership NFT. The program gives DGrid cash flow and committed community activity before launch.

AI Arena Adds BNB Chain Activity

DGrid’s onchain activity has grown through Arena for Agent, launched on BNB Chain. The product has supported more than 10,000 agent deployments through ERC-8004 and attracted over 200,000 participants, while adding more than 5,000 daily onchain active users to BNB Chain.

Arena asks two AI models to answer the same prompt anonymously, after which users choose the stronger response and earn points tied to future DGAI distribution. Their selections help train DGrid’s smart routing system, turning model evaluation into a recurring onchain activity with a low technical barrier for users.

Arena also gives DGrid visible user activity before launch while collecting comparison data for its routing system.

Products Focus on AI Access, Routing, and Agent Deployment

DGrid’s product suite includes AI Gateway, Dori, and DClaw, each aimed at a different part of AI access and deployment. Here’s a detailed breakdown of each: 

A Note on Research

DGrid’s academic work adds depth to its product plan. The network cites published research on Proof of Quality, optimistic TEE rollups, and cost-aware proofs, all of which relate to service verification, model performance, and cost control.

The team includes Ph.D.-level members from institutions such as Stony Brook University. Founder and CEO Alex has more than 10 years of experience in blockchain project operations, 5 years in machine learning, and over 3 years in large language model training and fine-tuning.

DGAI Token Launch is One to Watch

DGrid enters its token launch phase with paid membership revenue, BNB Chain activity, AI products, marketplace plans, and research already in place. 

After six months, the project has built a user and revenue base around Genesis, expanded Arena participation, and prepared the foundations for a model marketplace powered by DGAI.

The post DGrid AI Reports $20 Million in Revenue Ahead of Token Launch appeared first on BeInCrypto.

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Crypto exchange Kraken is giving customers access to the upcoming SpaceX initial public offering through xStocks, a tokenized equities platform, highlighting the growing convergence between crypto infrastructure and traditional capital markets.

Kraken announced Friday that SpaceX will be the first public offering available through xStocks IPO Access, which allows eligible users to participate in the offering through tokenized equity instruments.

To participate, users must have a verified Kraken account on the Kraken mobile app and submit an application for IPO access. The offering is not available through Kraken Pro or the company’s desktop platform.

According to Kraken, IPO Access is available across the European Economic Area (EEA) and more than 110 international markets, though participation is restricted in the United States, Canada, Australia and the United Kingdom due to regulatory limitations.

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Source: Kraken

Eligible users can register interest in purchasing SpaceX shares before the company begins public trading. Investors who receive an allocation will be issued SPCXx, a tokenized representation of SpaceX equity backed 1:1 by the underlying shares. The tokens can be traded 24/7 on Kraken and other participating xStocks platforms.

Related: Kraken’s xStocks tops $25B in volume with more than 80K onchain holders

SpaceX targets $1.8 trillion valuation, record debut

SpaceX is expected to begin trading publicly on June 12, giving investors their first opportunity to own shares in Elon Musk’s rocket and satellite company.

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According to Bloomberg, demand for the offering has already exceeded the number of shares available, with SpaceX seeking to raise roughly $75 billion at a valuation of at least $1.8 trillion. If achieved, the listing would be the largest IPO ever, exceeding Saudi Aramco’s $29.4 billion deal in 2019, Bloomberg said.

The company’s growth story is largely tied to Starlink, its satellite internet business, which has become a major source of revenue and profitability.

However, SpaceX’s capital-intensive launch and space exploration operations continue to incur high costs, raising questions about how investors will value the company once it begins trading on the public market.

Source: Lance Roberts

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Related: SpaceX reveals larger-than-expected Bitcoin holdings in IPO filing

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Nvidia (NVDA) stock is up just 15% in 2026 while the rest of the chip sector races ahead, and one flow signal helps explain why the market’s former leader is being left behind.

The split from the sector is the surface story. Beneath it, options bets, perpetual traders, and institutional flows are pulling in different directions, and only one of them resolves the puzzle.

The Chip Rally Is Leaving Nvidia Stock Behind

Nvidia and the Semiconductor Index have moved in opposite directions on about half of all trading sessions over the past 50 days, near the highest rate since the 2022 bull market began. That frequency has more than quadrupled since the start of April.

Want more insights like this? Sign up for Editor Harsh Notariya’s Daily Newsletter here.

The performance gap is just as wide. The Nvidia stock price is up roughly 15% on the year, while Broadcom (AVGO) has gained about 20% and AMD has climbed far higher.

Through 2024 and 2025, Nvidia drove the sector and outran its peers. The rally has since broadened to include chips other than Nvidia’s, leaving one question open. If the sector is soaring without it, where is the money that used to favor Nvidia going?

Bearish Options Bets on Nvidia Stock Are Building

The first place to look is the options market. The put-call ratio for Nvidia, which weights bearish put contracts against bullish call contracts, has tilted toward puts since the company’s last earnings report.

On earnings day, the volume ratio sat near 0.46 and the open interest ratio near 0.79. Those readings have since moved to about 0.45 and 0.85, with the open interest ratio climbing toward puts.

A higher open interest ratio means traders are adding downside bets or protection. The shift is small, yet it matches the performance lag and hints that conviction in Nvidia shares is fading.

Options point one way, but they are a single venue. Another market is betting the opposite, which deepens the puzzle rather than solving it.

On Hyperliquid, Traders Still Favor Nvidia Stock

On the perpetual futures platform Hyperliquid, the tokenized NVDA contract shows traders leaning long. The smart money and public-figure groups both hold net long positions, while the larger whale group sits net short, but only slightly.

That stance stands out against AMD and Broadcom on the same platform, where positioning skews more heavily short, at least across two cohorts, as opposed to NVDA’s whale-only cohort.

Even as it splits from the sector, Nvidia remains a favorite here.

Volatility helps explain the pull. Nvidia carries the highest 30-day annualized volatility among the megacap names at about 33%, second only to Tesla and well above the broad market.

Bigger swings attract traders who want to trade on movement, a common tendency on platforms like Hyperliquid.

Broadcom’s earnings on June 3 also kept the sector’s attention on Nvidia’s rivals. So the venues disagree. Options lean bearish, perpetual traders lean long, and neither settles the question on its own. One last signal breaks the tie.

The One Signal: Institutional Money Is Exiting

That signal is the Chaikin Money Flow (CMF), an indicator that tracks institutional money flow into or out of a stock. Nvidia’s CMF has dropped back below zero.

A reading under zero points to net selling from institutions, the largest and slowest-moving money in the market. This is what the headline numbers hide. Over the past five days, Nvidia’s stock is up about 2%, yet the flow has turned negative beneath that flat price.

AMD’s CMF, on the other hand, is aggressively positive at press time.

The divergence ties the whole picture together. Institutions stepping back explains the lagging year-to-date return and the rising put interest, while the Hyperliquid longs look like shorter-term traders chasing volatility rather than a lasting bid.

The CMF is now testing a rising trendline drawn from early January. A break below it would deepen the outflow and confirm the sector has moved on without its leader.

A recovery back above the line and fresh inflows would show the selling was only a pause. For now, institutional flow is the signal explaining why the chip rally is soaring even as Nvidia stock lags.

The post The AI Chip Sector Is Soaring Without Nvidia, and the Money Flow Explains Why appeared first on BeInCrypto.

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Bitcoin has moved beyond being a narrow technical experiment or niche monetary protest, according to Strategy Chairman Michael Saylor. He believes the crypto asset is now the dominant digital monetary network and is a global asset with wide implications for individuals, institutions, corporations, banks, capital markets, and nation-states.

As Bitcoin expands, Saylor said that the community is naturally splitting into four overlapping ideologies that shape how people think about its future development, adoption, and protection, even though all share a belief in Bitcoin’s importance.

Four Ideological Camps

In his latest post on X, Saylor identified these groups as Maximalists, Capitalists, Technologists, and Fundamentalists, each emphasizing a different priority in how the world’s largest crypto asset should evolve.

Bitcoin Maximalists, for one, see BTC as the dominant monetary network and a breakthrough in digital scarcity. They focus on its role as incorruptible money, a long-term store of value, protection against inflation and monetary instability, and a “moral and civilizational advance” in economic systems, while stressing “there is no second best,” though they risk being unclear on how BTC integrates into broader financial systems.

Bitcoin Capitalists, on the other hand, view BTC as digital capital that should integrate deeply into global markets including banks, corporations, securities, credit instruments, and sovereign systems, emphasizing institutional adoption, custody, lending, and capital market products. But this group faces risks of “reckless financialization” and added complexity.

Meanwhile, Bitcoin Technologists focus on the continuous improvement of the protocol, including scalability, privacy, usability, and security. They believe that “responsible protocol improvement is not corruption.” They are of the view that BTC must keep evolving to remain useful, though they risk introducing harmful changes if base-layer modifications undermine stability.

Bitcoin Fundamentalists focus on preservation of BTC’s core properties such as decentralization, self-custody, immutability, censorship resistance, and permissionless access. They warn against institutional capture or protocol dilution. However, Saylor said that they may risk limiting broader adoption if they reject too much integration or change.

Saylor explained these ideologies are not mutually exclusive, but different forces serving distinct roles in the ecosystem: Maximalists provide conviction, Capitalists drive adoption, Technologists enable innovation, and Fundamentalists safeguard core principles.

The central tension lies in balancing these perspectives since each can become problematic if taken to extremes. In Saylor’s view, the healthiest path forward is a synthesis.

“The strongest path forward is not reckless change, institutional capture, or isolationist purity. It is disciplined expansion. Bitcoin’s power comes from the fact that it can serve many constituencies without belonging to any one of them.”

Bitcoin’s Ideological Battles

Over time, Bitcoin’s internal camps have often clashed over how the network should evolve. Maximalists frequently resisted changes they see as unnecessary or harmful to Bitcoin’s core design. This tension became especially clear during the scaling and block size debates, where different groups pushed competing visions for BTC’s future.

Even major upgrades were difficult to agree on. For example, the SegWit upgrade was proposed in late 2015 but activated after years of debate following the block size wars.

The post Bitcoin’s Future Is Now a Four-Way Ideological Battle, According to Michael Saylor appeared first on CryptoPotato.

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