Crypto World
Bearish zcash (ZEC) bets hit record highs as price crashes
Bearish bets on privacy-focused zcash (ZEC) climbed to a record as the token slumped as much as 50% in 24 hours after a now-plugged vulnerability in its Orchard pool was disclosed.
ZEC recorded roughly $118 million in forced liquidations over the period, CoinGlass data shows.
That is remarkably small for a token whose price halved, suggesting the selling came mostly from spot held tokens rather than a futures-driven move. Only about 14% of zcash’s leveraged positions got wiped out; the number would have been far larger if a leverage cascade had driven the slide.
In comparison, about $335 million in bitcoin -tracked futures were liquidated over the same window even though the largest cryptocurrency fell only a few percent. Ether slipped a similar amount and liquidated $278 million.
Open interest — the total value of unsettled futures bets — rose to a record high in ZEC terms, suggesting traders opened new positions rather than closing them.
The long/short ratio, the number of traders betting on an increase versus a decline, shows those positions skewed bearish. On Binance, the ratio sat below 1 across retail investors at 0.77, whale accounts at 0.80 and whale positions at 0.85. Traders on OKX were more bearish, with retail at 0.67 and whale accounts at 0.72. Only Bybit’s retail traders leaned long, at 1.49.
Short investors sell securities they don’t actually own, betting the price will drop before they need to close out their positions and they’ll profit from the difference. Long investors own the securities to benefit from any increase.
The ratio indicates zcash is heavily shorted after a spot-led drop. If the selling slows and the price steadies, those shorts could be forced to buy to cover their positions, fueling a sharp bounce.
It’s worth remembering that ZEC, even after losing more than half its value in two weeks, is still up roughly 490% over the past year.
No way of knowing
The catalyst for the price drop was the disclosure by nonprofit Zcash developer Shielded Labs of a vulnerability in Zcash’s Orchard privacy pool that, if exploited, could have let an attacker create counterfeit ZEC that no one could detect.
The Orchard flaw had been live since the pool debuted in May 2022, going unnoticed for four years. It was found only last week by security engineer Taylor Hornby using Anthropic’s Opus 4.8 model and patched in an emergency fix by June 1.
The damage is less about the bug itself, which is now closed, than what Shielded Labs admitted alongside it. Because of the way Orchard’s privacy works, there is no cryptographic way to prove whether anyone exploited the flaw before it was fixed.
The firm said it probably was not, but it cannot be sure, and that uncertainty hangs over the token’s entire supply.
Arthur Hayes, the chief investment officer of Maelstrom, said he sold his entire zcash position as a result.
New Chairman of the Federal Reserve Kevin Warsh arrives during a swearing in ceremony in the East Room of the White House in Washington, DC on May 22, 2026.
Aaron Schwartz | Afp | Getty Images
Another big jobs report in May has pretty much swept aside the possibility of interest rate cuts anytime soon — and in the process underscored the tricky policy path ahead for new Federal Reserve Chair Kevin Warsh.
The chance of rate reductions already had been on life support heading into Friday’s nonfarm payrolls report.
But the unexpectedly strong gain of 172,000, compounded by sharp upward revisions for prior months, makes the case for policy easing even weaker, particularly considering the elevated level of inflation and uncertainty over the Iran war.
“If I’m at the [Fed], I say, ‘look, job growth is good, there’s no need for us to support the labor market. Inflation is high,’” said Gus Faucher, chief economist at PNC. “So therefore we can keep the fed funds rate where it is right now until we get a better picture of what’s going on on the inflation front.”
Indeed, market expectations shifted even further after the nonfarm payrolls report. Traders priced in an even lower chance of a cut at the June 16-17 meeting and raised the odds of a hike by the end of 2026 to about 70% nearing midday Friday, according to the CME Group’s FedWatch measure of futures prices.
Warsh’s dilemma, though, runs deeper than the simple calculus of where rates are headed. A number of his colleagues have been challenging not merely the chair’s positions but the framework and filter through which policymakers interpret inflation, growth and the appropriate stance of monetary policy.
Challenges from his Fed peers
In recent days, multiple central bank officials have spoken in public and challenged, without mentioning his name, several core policy assumptions and positions that Warsh has held since he emerged as a candidate for the chair’s seat.
There was Governor Christopher Waller expressing worry that consumer and market psychology was in danger of shifting their inflation expectations higher — a key consideration when figuring out how the Fed should react.
St. Louis Fed President Alberto Musalem took on Warsh’s stated belief that artificial intelligence and its anticipated productivity gains would be a disinflationary force on the economy. Instead, Musalem argued, it would be “risky to rely on the prospect of higher productivity growth in the future to solve our inflation problem today.”
Meanwhile, Dallas Fed President Lorie Logan countered Warsh’s reliance on “trimmed mean” measures for inflation. Those gauges toss out the highest and lowest inputs to inflation calculations and focus on readings closer to the midpoint of the data.
Warsh has said that trimmed mean measures indicate that inflation is much closer to the Fed’s 2% goal than the headline data indicate, an important consideration at a time when surging energy prices are having an outsized impact.
“A change in the mix of price increases and decreases is causing the trimmed mean to drop too many price increases. That can pull the trimmed mean below the underlying trend in inflation,” she said in a speech.
What made Logan’s comments particularly notable is that her own Dallas Fed produces the most-followed trimmed mean measure, which she effectively cautioned against putting too much weight on. The trimmed mean reading for April put inflation at 2.3%, far below the 3.8% headline and 3.3% ex-food and energy core measure.
“I am increasingly concerned that higher interest rates could be necessary later this year to fully restore price stability and appropriately balance both sides of the Fed’s dual mandate,” Logan said.
Caution on guidance
There were others as well.
Governor Michelle Bowman advocated that the Fed not overreact to what could be a temporary price spike from an energy supply shock. She also stated that she was comfortable with the Fed continuing to use “forward guidance” language in its post-meeting statement that markets have interpreted as a signal that the next rate move could be a cut.
Bowman’s position on the language is both a boon and challenge to Warsh’s positions — he favors lower rates but dislikes forward guidance as an unreliable gauge of future policy.
However, she, too, added a note of caution, saying of the war, “the longer the conflict persists, the more we should consider the effects on inflation in our outlook.”
Finally, Governor Michael Barr recently laid into Warsh’s advocacy for a smaller Fed balance sheet, insisting that such a narrow focus could cause more harm than good.
Warsh also is facing challenges on Wall Street.
The new chair, along with multiple White House officials, have used the mid-1990s Fed under then-Chair Alan Greenspan as a template for a central bank that saw a productivity boom as a disinflationary force to counter a hot economy.
But there are key differences between now and then, according to Jason Thomas, the influential Carlyle Group’s head of global research and strategy. In a recent client note, Thomas argued that real interest rates, or the difference between nominal rates and inflation, were much higher under Greenspan and thus more restrictive then, giving the Fed leeway.
The argument essentially is that Fed policy was tighter in that era than today.
“As Vito Corleone [of The Godfather] asked his assembled guests: ‘How did things ever get so far?’ This is the question Kevin Warsh should pose to colleagues when he chairs his first Federal Open Market Committee meeting later this month,” Thomas wrote.
“Don’t expect any movement this meeting or next; the option value of waiting is too high given the scale of uncertainty introduced by the Strait of Hormuz closure,” he added. “But it’s long past time to abandon the endemic easing bias that’s characterized policy for the past two years.”
View from within
Warsh, then, can be expected to meet stiff challenges when the meeting convenes, albeit from a group known for its collegiality.
Cleveland Fed President Beth Hammack, a policymaker concerned about inflation who voted against the April statement because it included the forward guidance language, echoed the concerns over using trimmed mean and core inflation measures, with oil still above $90 a barrel.
What if “I told you that my weight is amazing, I’m looking really great right now. My diet is perfect, except for the donuts I had for breakfast, the fried chicken I’m going to have for dinner, and the ice cream I’ll have after that, but other than that, I am totally on track,” Hammack asked during a recent public appearance. “You have to really think about everything.”
Hammack spoke of having “a conversation” with Warsh “a few weeks ago” and expressed confidence that “he is approaching the job with a real open mind.”
“I think that he’s coming in asking some of those big picture questions. What’s working well? Where can we do better? How do we help support our goals of maximum employment, price stability, and how do we really do that to serve the public?” she said. “I think he is a public servant who will come in with an open mind and try to do his best.”
Crypto World
SEC Builds Tokenized Securities Framework Guided by “Innovation Without Arbitrage” Principle
TLDR:
- The SEC is developing a framework to list and trade tokenized securities under the “innovation without arbitrage” principle.
- SEC and CFTC are jointly identifying rulebook gaps covering swap reporting, portfolio margining, and product definitions.
- The CFTC approved Kalshi’s proposal to trade Bitcoin perpetual futures, leaving other assets open for case-by-case review.
- The SEC is targeting a 23-by-5 equity market trading transition and reviewing legacy rules like Regulation NMS by year-end.
The SEC is actively developing a framework for the listing and trading of tokenized securities, guided by the principle of “innovation without arbitrage.”
SEC Trading and Markets Director Jamie Selway outlined this direction at the Piper Sandler Global Exchange & Fintech Conference on June 4, 2026, in New York.
The framework aims to modernize U.S. capital markets while protecting existing market structure. Regulators are working to ensure new entrants and legacy providers are treated equally under the new rules.
SEC Pushes Forward on Tokenized Securities Framework
Chairman Atkins has directed the Division of Trading and Markets to develop a framework for tokenized securities listing and trading.
The guiding principle, “innovation without arbitrage,” is designed to prevent unfair advantages for either new or established market participants.
Selway described the principle plainly, saying the Division aims “to advantage neither new entrants nor legacy providers over the other.”
The SEC’s goal is to foster a healthy ecosystem for tokenized securities without disrupting existing, well-functioning markets.
The Division has been engaging with both traditional finance incumbents and decentralized finance new entrants. These conversations span the full range of tokenized securities operations, covering primary issuance, secondary trading, and custody.
Staff statements on custody and trading have already been issued as part of this groundwork. The Division is now working toward an “innovation exemption” recommendation to allow certain trading venues to trade tokenized securities.
Major market infrastructure players are already responding to this regulatory direction. The DTCC announced plans to facilitate limited production trades of tokenized securities through DTC’s service starting July 2026. A broader rollout is planned for October 2026.
Nasdaq and the NYSE have also separately announced plans to develop platforms for trading and on-chain settlement of tokenized securities.
Selway also confirmed the SEC is working to facilitate a transition to 23-by-5 equity market operation by the end of 2026. The Division is additionally reviewing legacy rules such as Regulation NMS and the Consolidated Audit Trail for modernization.
These efforts are part of a broader push to drive efficiency and competition across U.S. capital markets. Together, these steps position the SEC as an active architect of next-generation market infrastructure.
SEC-CFTC Coordination Shapes the Path for Tokenized Markets
The tokenized securities framework does not exist in isolation. The SEC and CFTC are coordinating in parallel on rules that touch both agencies’ jurisdictions.
Chairman Atkins stated directly that “firms should not be shuffled back and forth between regulators when a product touches elements of both regulatory frameworks.” He added that “where jurisdiction overlaps, the most effective response is a coordinated one.”
Both agencies are jointly identifying areas where their rulebooks lack clarity or compatibility. Swap and security-based swap data reporting, portfolio margining, and product definitions have been identified as initial focus areas.
The SEC also approved Nasdaq PHLX’s proposal to list cash-settled Bitcoin index options on May 22. These actions reflect a deliberate, step-by-step approach to building a coherent cross-agency framework.
Selway stressed two core responsibilities that must anchor the tokenized securities framework. Regulators must clearly distinguish investing from gambling, even as technology blurs traditional boundaries.
They must also prevent excessive leverage from reaching unsophisticated retail investors through new tokenized products.
Selway put it directly, warning against “extending unhealthy levels of leverage to the unsophisticated and unsuspecting” as markets evolve.
Industry participants were also urged to engage constructively rather than exploit jurisdictional gaps. Selway warned that venue shopping and unreasonable expectations will undermine harmonization efforts. He called on firms to bring forward their best ideas for reducing regulatory friction through public input.
He framed the stakes clearly, saying that by “delivering true innovations” and avoiding key pitfalls, industry organizations “can deliver value to your clients, your investors, your world-leading industry, and our great Nation.”
Strategy’s sale of 32 Bitcoin shouldn’t have mattered. The company still holds hundreds of thousands of BTC, and the transaction barely moved the needle on its balance sheet. Yet the market reaction was swift, exposing how much of the Bitcoin treasury trade had been built on a simple assumption: companies buy Bitcoin… and they never sell it.
Elsewhere in crypto this week, JPMorgan CEO Jamie Dimon escalated his fight against the industry’s preferred market structure bill and a French Bitcoin treasury company pushed the limits of capital formation by asking shareholders to approve a massive $122 billion fundraising mandate.
Strategy’s Bitcoin sale tests treasury trade
Michael Saylor’s Strategy rattled the market after disclosing the sale of 32 Bitcoin — its first reported BTC liquidation outside a 2022 tax-related transaction.
The sale itself was tiny relative to the company’s massive holdings, but it challenged the long-standing narrative that Strategy would only accumulate Bitcoin and never sell. Shares of MSTR fell sharply following the disclosure as investors reassessed the assumptions underpinning the Bitcoin treasury model.
“The market learned that Strategy is no longer read as a pure one-way accumulation vehicle,” Delphi Digital wrote in a market summary.
“The old ‘never sell’ meme is now broken in practice, not just in conference call language,” Delphi added.
The transaction has reignited debate over how Bitcoin treasury companies should be valued. While Strategy remains committed to growing its Bitcoin-per-share metric, the sale served as a reminder that even the most committed corporate hodlers face financial realities.
Source: Michael Saylor
JPMorgan CEO draws a line in the sand on CLARITY
The battle over US crypto regulation intensified after JPMorgan CEO Jamie Dimon said banks would oppose the latest version of the CLARITY Act, arguing that crypto companies are being granted privileges without being subject to the same regulatory burdens as traditional financial institutions.
Dimon specifically criticized provisions that would allow crypto companies to offer interest-bearing products while avoiding the capital and compliance requirements imposed on banks.
The comments underscore a growing divide between the banking sector and the crypto industry as lawmakers push for market structure legislation. Supporters see CLARITY as a long-awaited framework that would provide regulatory certainty and encourage innovation. Critics, however, argue that the bill risks creating an uneven playing field.
Jamie Dimon said the banking industry opposes the latest CLARITY markup. Source: Fox Business
Capital B seeks approval for $122 billion Bitcoin war chest
Bitcoin treasury company Capital B is asking shareholders to approve a sweeping expansion of its fundraising capacity, seeking authorization to issue up to 5 billion euros ($5.8 billion) in new equity and roughly $116 billion in credit instruments to finance future Bitcoin purchases.
The proposal, which will be voted on at Capital B’s June 17 shareholder meeting, would give management access to a vastly larger pool of capital than it has raised to date. According to the company, Capital B has secured about $325 million in funding so far, including a recent raise backed by Blockstream CEO Adam Back and asset manager TOBAM.
The company purchased 192 BTC for $15.2 million last month and added another 4 BTC on Monday, bringing its total holdings to 3,139 BTC.
Source: Alexandre Laizet
Coinbase invests in ProShares stablecoin reserve ETF
Coinbase has invested an undisclosed amount in the ProShares GENIUS Money Market ETF (IQMM), a fund designed to hold assets that qualify as stablecoin reserves under the GENIUS Act.
The exchange-traded fund provides exposure to the cash, bank deposits and short-term US Treasury securities that payment stablecoin issuers are required to hold under the legislation. The GENIUS Act mandates that stablecoins be backed by highly liquid reserves, creating demand for investment products tied to those assets.
The investment highlights growing interest in stablecoin reserve assets as the US moves closer to establishing a federal regulatory framework for the sector. Stablecoin issuers are expected to become major buyers of Treasury bills and other highly liquid securities if adoption continues to grow.
Source: ProShares
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Securitize has moved closer to entering public markets after securing regulatory clearance for its planned SPAC merger.
Summary
- Securitize has received SEC approval for its SPAC merger filing with Cantor Equity Partners II.
- The deal now moves to a shareholder vote scheduled for June 29.
- If approved, Securitize is expected to list on the New York Stock Exchange under ticker SECZ.
- The company provides tokenization infrastructure and services to over 650 funds globally.
- Securitize oversees more than $4 billion in tokenized assets across its platform.
According to the U.S. Securities and Exchange Commission, the agency has declared effective the S-4 registration tied to Securitize’s proposed combination with Cantor Equity Partners II, clearing the deal for a shareholder vote scheduled for June 29. If investors approve the transaction, the company said it expects to finalize the merger soon after and begin trading on the New York Stock Exchange under the ticker “SECZ.”
SPAC route advances toward listing
Through the planned merger, Securitize will combine with Cantor Equity Partners II, a special purpose acquisition company backed by an affiliate of Cantor Fitzgerald. Company statements confirm the resulting entity will operate as Securitize Corp. once listed.
From a regulatory standpoint, the SEC’s approval allows the process to move into its final stage. The shareholder vote now becomes the key hurdle before the listing proceeds. Securitize Chief Executive Carlos Domingo said in a company release that the milestone supports the firm’s effort to expand tokenization infrastructure at a global scale.
At a time when several crypto firms have delayed public listings, including reported pauses by Kraken and Consensys, Securitize’s progress highlights a different trajectory for companies tied to real-world asset tokenization.
Institutional demand shapes tokenization growth
Across financial markets, tokenization continues to attract major institutions. Data from RWA.xyz shows the tokenized asset sector has grown past $30 billion after nearly tripling within a year. Projections from Citigroup estimate the market could reach $5.5 trillion by 2030, while a joint study by Boston Consulting Group and Ripple suggests a potential $18.9 trillion market by 2033.
Participation from firms such as BlackRock, Franklin Templeton, JPMorgan Chase, and Fidelity Investments has expanded the sector’s reach into traditional finance. These institutions are exploring blockchain-based versions of bonds, funds, and private credit, with advocates pointing to faster settlement and lower operating costs.
Securitize’s role in market infrastructure
Operating within this environment, Securitize has built systems that support token issuance, fund administration, and secondary trading. The company reports it services roughly 650 funds through its Securitize Fund Services platform and oversees more than $4 billion in tokenized assets.
Its partnerships include infrastructure support for firms such as Apollo Global Management, KKR, Hamilton Lane, and VanEck. In addition, collaboration with the New York Stock Exchange has focused on developing tokenized equities platforms.
A notable product tied to the firm is BlackRock’s BUIDL fund, launched in 2024 as a tokenized money market fund and now counted among the largest tokenized Treasury offerings.
Recent disclosures show Securitize raised $47 million in a 2024 funding round led by BlackRock. Operational data from the company indicates it recorded $1.9 billion in transaction volume during the first quarter of the year.
Meanwhile, additional partnerships, including work with Computershare on issuer-backed tokenized shares, continue to expand its product range. As the June shareholder vote approaches, the outcome will determine whether Securitize becomes one of the first major tokenization firms to trade publicly in U.S. markets.
XRP is no longer fighting over $1.20. It’s fighting over whether $1.10 holds. The latest selloff came with the kind of volume usually associated with forced liquidations rather than orderly selling, pushing the token to its weakest levels in months before dip buyers finally showed up near $1.09.
News Background
• XRP ETFs recorded roughly $4 million in inflows after seeing their first daily outflow in three weeks, bringing cumulative inflows to around $1.5 billion.
• Market sentiment deteriorated sharply across crypto, with the Fear & Greed Index falling into extreme fear territory as traders reacted to broader macro uncertainty.
• XRP also slipped behind USDC in market capitalization rankings after the selloff pushed its value below $75 billion.
Price Action Summary
• XRP fell from $1.17 to $1.11 during the 24-hour session, touching lows near $1.09 before recovering slightly.
• The biggest move came during the June 5 06:00 UTC session, when volume surged to 268.2 million XRP and accelerated the breakdown.
• A failed rally toward $1.133 later reversed sharply, sending price to fresh lows before buyers stepped in near $1.10.
Technical Analysis
• The key takeaway is that support levels keep becoming resistance. What was a buying zone around $1.20-$1.25 just days ago is now where sellers are reappearing.
• The move below $1.10 briefly pushed XRP into one of the most oversold conditions seen in years, with weekly RSI readings reaching levels that historically appeared near major cycle lows.
• Even so, oversold does not automatically mean bullish. Markets can stay oversold for longer than traders expect, especially during liquidation-driven declines.
• The bounce from $1.09 showed signs of seller exhaustion, but recovery volume remained weaker than the selling that preceded it.
What traders should watch
• $1.09-$1.10 is now the most important support zone on the chart. Losing it would shift focus toward the $0.92 area highlighted by several analysts.
• $1.12-$1.13 becomes the first recovery zone XRP needs to reclaim before any stabilization narrative gains credibility.
• The broader trend remains bearish until XRP starts reclaiming former support levels rather than simply bouncing from oversold conditions.
• Traders looking for evidence of a durable bottom will likely want to see stronger volume on rebounds than on selloffs, something the market has not yet delivered.
XRP opens June with its most significant decline of the past 3 months. The $1.20 support band, which served as the absolute floor for months, is being breached, with the price now trading at $1.11. The RSI is also printing its lowest reading since February’s capitulation, and the next meaningful support is nearly $0.30 lower. This is not a pullback from resistance; it is likely a breakdown of the last line of defense.
Ripple Price Analysis: The USDT Pair
On the USDT chart, the $1.20 support band, which held strong during the February crash and has remained untouched since, is on the verge of breaking down. The RSI has also collapsed to approximately 20–25, nearing the oversold extreme seen at the February capitulation low. That reading alone warrants attention, as historically, RSI at these levels has preceded, at minimum, a sharp relief bounce even within a broader downtrend.
However, an oversold RSI does not mean a floor has been found on its own. The $1.20 level is now likely to flip into resistance, and any bounce needs to reclaim it on a sustained closing basis to suggest the breakdown is being reversed rather than simply paused.
Below the current price, the next structural reference is the $0.80 demand zone, which also converges with the descending channel’s lower boundary. This is a meaningful confluence of support, but still at a significantly lower level. The 100-day moving average at $1.35 and the 200-day moving average at $1.60 are now both heavily overhead, leaving XRP with a stack of resistance above and thin structural support below on the USDT-paired chart.
The BTC Pair
The BTC pair is telling a more resilient story. XRP/BTC is trading at 1,800 sats, holding above the recent lows at 1,740 sats. The RSI, which surged to 70 at the end of May in what looked like a meaningful momentum shift, has already faded back to 50, indicating that the brief strength has not followed through into sustained buying.
The price is sitting below the 1,850 sat short-term resistance after getting rejected by the level again, with the declining 100-day moving average at approximately 1,900 sats acting as the immediate dynamic overhead resistance. The fact that the ratio has held while the USDT pair broke down suggests the XRP weakness is partly a function of broader altcoin selling in dollar terms rather than XRP-specific deterioration against Bitcoin.
A confirmed close below 1740 sats on the BTC pair, particularly if it coincides with continued USDT pair weakness, would mark a definitive breakdown on both pairs simultaneously, which exposes the 1,500 sats area as the next reference below.
The post Ripple Price Prediction: How Low Can XRP Go If $1 Support Cracks? appeared first on CryptoPotato.
The team behind the controversial crypto project rolled out a major upgrade intended to strengthen the entire ecosystem.
Nonetheless, the positive news failed to trigger a rebound for PI, whose valuation nosedived to yet another all-time low.
Upgrade Completed
Pi Network has made significant progress in recent months. In February, the Core Team unveiled protocol version 19.6, followed by an upgrade to v19.9. Later on, they introduced the highly anticipated v20.2, which set the foundation for smart contract capabilities.
Last month, the team announced a migration to protocols v22 and v23, setting June 2 as the deadline to complete the transition to v24. This development was disclosed on Pi Network’s official X account earlier today (June 5).
“Great job to all Nodes! This was one of the most challenging migrations,” the message reads.
The upgrade to protocol 24 is primarily focused on enhancing the underlying infrastructure that supports node operations and mainnet activity. The Core Team revealed that migration to v25 is next in line, with June 18 designated as the completion deadline.
In addition to the protocol update, Pi Network has recently advanced further in the gaming field. As CryptoPotato reported, CiDi Games (a Pi Network Ventures portfolio company) released four new games for Pioneers. Those include Coin Whack, Fruit Stack, Gemnova, and RainbowCubes.
PI Price Outlook
Despite the aforementioned developments, PI’s valuation remains heavily suppressed by the bear market and the latest pullback, which swept through the entire crypto market.
Earlier this week, it collapsed to a new all-time low of around $0.12, representing a 33% decline for the month and a whopping 96% crash from the historic peak of $3 witnessed at the start of 2025. PI’s market capitalization has fallen to roughly $1.3 billion, making it the 58th-largest cryptocurrency.
Certain factors signal that a further correction could be on the way. Data show that the number of PI coins stored on exchanges has soared by over 500,000 in the past 24 hours, bringing the total to over 550 million. This suggests that numerous investors have transferred their holdings to centralized platforms, thus increasing immediate selling pressure.
The upcoming token unlocks are next on the list, with approximately 160 million PI set to enter circulation over the next 30 days. June 11 stands out as the record day when 16 million coins will be released. This development doesn’t guarantee a steeper downfall, but it will allow some investors to cash out tokens they have been holding for a long time.
The post Pi Network Completes a Major Milestone, Yet PI’s Price Keeps Bleeding: Details appeared first on CryptoPotato.
Michael Saylor has urged Bitcoin supporters to balance purity, adoption, innovation, and stability as the asset trades near its weakest levels in almost two years.
Summary
- Michael Saylor said Bitcoin’s future depends on balancing competing ideologies, not choosing one camp.
- Saylor named Maximalists, Capitalists, Technologists, and Fundamentalists as key groups in Bitcoin’s growth.
- Strategy’s sale of 32 BTC raised concerns despite its holdings of more than 844,700 BTC.
Saylor, writing in a Friday post on X, said Bitcoin’s future should not depend on one dominant ideology. The Strategy chairman said the network needs several groups with different priorities, including Maximalists, Capitalists, Technologists, and Fundamentalists.
According to Saylor, each group serves a separate role in protecting Bitcoin’s long-term strength. He said the debate should not force a choice between “purity and adoption” or between “innovation and stability.” Instead, Saylor wrote that Bitcoin must remain true to its core while companies, banks, and governments build around it.
Saylor calls for balance across Bitcoin camps
In his essay, Saylor described Bitcoin as a system that benefits from conviction, integration, innovation, and preservation. He said Bitcoin’s base layer should remain protected as “sacred infrastructure,” while Bitcoin as an asset should continue entering corporate balance sheets, banking products, and national reserve discussions.
The remarks came as Bitcoin traded below $61,000 on Friday. Market data in the report showed BTC down 5.79%, more than 25% lower over the past month, and more than 50% below its October 2025 record high of $126,000.
Saylor’s comments also arrived during a fresh debate over Bitcoin’s deeper ties with traditional finance. Corporate treasury strategies, spot exchange-traded funds, and capital market products have brought new demand into Bitcoin, but they have also caused concern among some long-time supporters.
Strategy sale draws market scrutiny
Strategy has become the best-known corporate Bitcoin holder under Saylor’s leadership. The company has used preferred stock offerings over the past year to help finance more Bitcoin purchases.
However, Strategy’s recent sale of 32 bitcoins for about $2.5 million drew attention because the company has long promoted accumulation. The sale represented a very small part of Strategy’s more than 844,700 bitcoins, but some critics questioned whether it could lead to more selling.
CNBC host Jim Cramer reacted sharply after Strive CEO Matt Cole explained the sale in a video. Cramer said Saylor had “murdered Bitcoin,” according to the report.
Analysts split on Bitcoin’s next support
Grayscale Head of Research Zach Pandl said Friday that Strategy’s ability to keep buying Bitcoin appears limited at current share prices. According to Pandl, Bitcoin may need other sources of demand before the market finds a sustainable bottom.
Meanwhile, Standard Chartered Head of Digital Assets Research Geoffrey Kendrick offered a more positive view. Kendrick said Bitcoin’s low is “almost in,” citing resilient spot ETF holdings and the chance that Strategy buys back more Bitcoin than it recently sold.
According to Kendrick, such a move would show that the worst part of the selloff has likely passed. His view differs from critics who see Strategy’s sale as a warning sign during Bitcoin’s steep decline.
Saylor’s essay has placed Bitcoin’s internal debate back in focus at a time when price weakness has increased pressure on major holders. His argument centers on the idea that Bitcoin must keep its core rules intact while still allowing financial products, corporate treasuries, and institutional channels to grow around it.
Cardano (ADA) reached its lowest price since 2020, falling to about $0.15 from over $0.37 earlier in 2023. The dip comes as cryptocurrencies face a challenging period, and ADA holders are watching to see if it will hold above this critical support level.
According to Coin Bureau’s official X account, ADA is hitting its lowest price since 2020. Traders are discussing possible risks and forecasting variables that could aid ADA’s price recovery.
Key Takeaways
- Cardano (ADA) hit a low of around $0.15 recently, its lowest since 2020
- The chart shows a consistent downtrend with lower highs and lows
- Market participants are watching for clues on whether ADA will stabilize or continue to drop
ADA Extends Multi-Month Downtrend
Coin Bureau’s weekly chart shows Cardano, or ADA, in a long-term downtrend. After hitting almost $0.37, it formed a series of lower highs and lows, indicating steady selling pressure over months.
ADA tried to bounce back in May, reaching close to $0.28, but the momentum didn’t last. As soon as that happened, buyers lost steam and the price dove again. This recent drop took ADA from about $0.24 to $0.15, one of the quickest and biggest falls on the chart.
The latest weekly chart highlights how challenging things have been for ADA lately.
Support Levels Come Into Focus
Right now, the $0.15 area is Cardano’s nearest support zone, the lowest point on the chart. Traders see this level as a spot where buying might kick in. If ADA holds above it, we could start to see stability after weeks of falling prices. People usually look at past support levels to find less selling pressure and more demand.
Resistance Zones and Recovery Outlook
For ADA to bounce back, it needs to overcome some hurdles left during its fall. The first is around $0.24, where the recent drop gained momentum. Next is a spot at $0.28; that was the peak in May. If ADA surges past these levels, it could signal growing positive sentiment and renewed buying interest.
There’s also a wider resistance zone between $0.34 and $0.37. This range started the big downtrend and remains a major test for traders watching a potential comeback.
Bitcoin tumbled below $60,000 on Friday, breaking the lows of the early February crypto crash and reaching its weakest level since October 2024.
The largest cryptocurrency is down nearly 20% in just the past week, and now has lost more than 52% since its October peak above $126,000.
Several headwinds have converged over bitcoin recently — the most important being its largest single buyer, Michael Saylor’s Strategy, having turned seller. Additionally, spot bitcoin ETFs suffered persistent outflows as investors pulled capital from the sector, instead allocating it to the red-hot artificial intelligence trade and related stocks.
Stubbornly elevated inflation and a hot labor market report Friday also prompted investors to rethink the path of U.S. monetary policy. Markets that earlier this year expected rate cuts have now fully priced in the Federal Reserve’s next move as a rate hike.
With that, U.S. stocks have lost momentum after a powerful run to record highs, weighing on risk appetite across markets. The Nasdaq is lower by more than 2% Friday.
Crypto investors have also been grappling with renewed concerns about whether artificial intelligence and quantum computing could expose weaknesses of crypto protocols. Privacy-focused cryptocurrency Zcash (ZEC) plunged more than 40% overnight after a critical vulnerability was discovered with the help of Anthropic’s latest Opus 4.8 AI model.
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