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Jeffrey Huang, a well-known Taiwanese singer also known as Machi Big Brother, has been liquidated seven more times over the past two days, according to Onchain Lens. Following the liquidations, he opened a new 25x leveraged long position with 400 ETH, worth approximately $744,000. The position's liquidation price is $1,834.01.

Crypto asset manager Abraxas Capital is suspected of selling 1,000 BTC, worth approximately $67.49 million, during yesterday's market decline, according to on-chain analyst EmberCN. About seven hours ago, Abraxas Capital deposited the funds into Kraken and subsequently withdrew a total of $52.72 million in USDC and USDT. EmberCN suggested that this fund flow strongly indicates a sale, which may have contributed to the downward pressure on Bitcoin.

According to on-chain data, Garrett Jin, founder of the fraudulent cryptocurrency exchange BitForex, has an unrealized loss of over $11.5 million on a 5x leveraged long position of 1,268 BTC. Onchain Lens reported that Jin is still holding the position and that the scale of his profit or loss could change significantly depending on market volatility.

Bitcoin could face a volatile, bearish summer as investment funds rotate from the cryptocurrency to AI-related stocks, according to a report from K33 Research cited by CoinDesk. The firm identified slowing institutional demand and outflows from spot ETFs as key drivers of this weakness. K33 noted that over the past three weeks, spot Bitcoin ETFs have seen a net outflow of 62,794 BTC, marking the second-largest outflow period on record. While Bitcoin has failed to break above its 200-day moving average, both the Nasdaq and S&P 500 have been hitting new highs. K33's analysis suggests investors are moving capital into AI stocks and upcoming IPOs for companies like SpaceX and Anthropic. Furthermore, a reduction in futures positions by institutional investors combined with a rise in leveraged long positions indicates a potential for further declines. The research firm concluded that while Bitcoin appears undervalued for the long term, caution is warranted in the short term.

Whale Alert reported that 331,462,210 USDT has been transferred from Bitfinex to Kraken. The transaction is valued at about $331 million.

An address known as the ShapeShift whale has purchased an additional 6,688 ETH for approximately $12.78 million over the past eight hours, Onchain Lens reported, citing on-chain data. The address now holds 149,286 ETH, worth around $277.59 million. Onchain Lens added that the whale may purchase more ETH.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The upper section shows the Volume Heatmap, and the lower section displays the Cumulative Volume Delta (CVD). - The Volume Heatmap (top) tracks trading volume at specific price levels. The background brightens when the price lingers in a range or moves significantly, with these brighter areas potentially acting as support or resistance. - The Cumulative Volume Delta (CVD) indicator (bottom) shows buy and sell orders categorized by size. A rise in a colored line indicates an increase in buy orders for that category. The yellow line represents orders between $100 and $1,000, and the brown line tracks large orders from $1 million to $10 million.

The Fear & Greed Index from crypto data provider CoinMarketCap has dropped six points from yesterday to 25, remaining in the 'Fear' stage. The index indicates extreme fear as it approaches 0 and extreme optimism as it approaches 100. CoinMarketCap's index is calculated based on factors including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data like the put-call ratio, the Stablecoin Supply Ratio (SSR), and the platform's own search data.

Major exchanges have seen $146 million worth of futures liquidated in the past hour. In the past 24 hours, $1,763 million worth of futures have been liquidated.

Grayscale announced that its Grayscale Hyperliquid Staking ETF (HYPG), which invests in Hyperliquid (HYPE) spot prices and staking rewards, will begin trading on June 3. According to the company, HYPG offers the lowest gross management fee among HYPE-based exchange-traded products (ETPs) listed in the U.S. The product provides simultaneous exposure to HYPE's price and staking rewards. Investors can trade the ETF through a standard brokerage account.

Cryptocurrency futures trading volume on major exchanges fell to approximately $2.9 trillion in May, the lowest level since the end of 2023, The Block reported. This figure represents a significant decrease from the monthly volumes of $6 trillion to $7 trillion recorded last year, a trend attributed to a general decline in market speculation, including reduced spot trading and on-chain activity. Trading volume remains concentrated on Binance, followed by OKX, Bybit, and Gate. In contrast, small and mid-sized exchanges have reportedly seen a relatively larger drop in volume.

Ala Shaabana, co-founder of Bittensor, claimed at the Proof of Talk event in Paris that the Bitcoin network's hashrate is more than 600,000 times greater than the combined computing power of the world's top 100 supercomputers. He explained that just as Bitcoin secured vast distributed computing resources through its incentive-based structure, the same principle can be applied to artificial intelligence (AI). Shaabana noted that Bittensor features 128 subnets that reward participants with TAO tokens for contributing to specific tasks such as AI training and validation. He argued that an open network can more efficiently pool global hardware and intelligence than centralized big tech companies, emphasizing that the key to future AI competitiveness will depend more on incentive design and network effects than on the technology itself.

The UK House of Lords Financial Services Regulation Committee has warned that while regulation for pound sterling-based stablecoins is necessary, overly strict rules could undermine their commercial viability. According to Cointelegraph, the committee noted that the UK has fallen behind the U.S. and the European Union in implementing stablecoin regulations, and this lack of a clear framework has hindered investment and industry growth. However, the committee expressed concerns about some proposals from the Bank of England (BoE). It highlighted that a rule requiring systemically important stablecoin issuers to hold at least 40% of their reserves in non-interest-bearing central bank deposits could weaken their business case and international competitiveness. The committee also stated that holding limits and a ban on paying interest could become unnecessary constraints on the growth of GBP stablecoins, emphasizing the need for the government and regulators to strike a balance between regulation and fostering industry growth.

Major exchanges have seen $146 million worth of futures liquidated in the past hour. In the past 24 hours, $1,628 million worth of futures have been liquidated.

Cryptocurrency experts have pointed to the market's excessive reliance on MicroStrategy (MSTR) following a simultaneous drop in the prices of Bitcoin and MSTR stock, according to BeInCrypto. The decline came after MicroStrategy sold 32 BTC, its first sale in 41 months. Although the amount sold represents less than 0.004% of the company's total holdings of 843,706 BTC, Bitcoin's price fell 8.6% to the $67,000 level, while MSTR shares dropped by approximately 10% in a single day. Bloomberg ETF analyst Eric Balchunas commented that Bitcoin is overly dependent on the investment narratives surrounding ETFs and MicroStrategy, stating that these factors should be supplementary to its value, not its entire foundation. Meanwhile, some market participants have raised concerns about MicroStrategy's future ability to raise funds and purchase more BTC. They noted that the company sold the Bitcoin to pay preferred stock dividends and that the price of its STRC preferred stock has fallen below its $100 reference price.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has updated its Specially Designated Nationals (SDN) list, adding several Iranian cryptocurrency trading platforms and related individuals. The measure was announced on June 2. Under the sanctions, any U.S.-based assets of the designated entities are frozen, and U.S. persons are prohibited from transacting with them. The Treasury stated that the sanctions were imposed due to the platforms' and individuals' involvement in financial activities connected to Iran.

Shares of MicroStrategy (MSTR), the largest publicly traded holder of Bitcoin, have fallen for two consecutive days following the disclosure of a recent BTC sale. The stock closed at $136.08 on June 2, down more than 70% from its 52-week high of $457.22. Last week, MicroStrategy announced it had sold 32 BTC at an average price of $77,135, securing approximately $2.5 million. However, this sale represents a small fraction of the company's total Bitcoin holdings, which are valued at over $56 billion. During the same period, Bitcoin has also shown weakness, trading around $67,288, a decline of more than 46% from its all-time high of $126,080. Meanwhile, investment bank TD Cowen has maintained its $400 price target for MicroStrategy, suggesting a potential upside of about 194% from its current price.

Whale Alert reported that 345,838,818 USDT has been transferred from an unknown wallet to Bitfinex. The transaction is valued at about $345 million.

Whale Alert reported that 345,838,818 USDT has been transferred from Kraken to an unknown wallet. The transaction is valued at about $346 million.

Major exchanges have seen $260 million worth of futures liquidated in the past hour. In the past 24 hours, $1,483 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $67,000. BTC is trading at $66,939.11 on the Binance USDT market.

The New York State Department of Financial Services (NYDFS) has signed a memorandum of understanding with the European Banking Authority (EBA) to cooperate on stablecoin regulation, Decrypt reported. The authorities will collaborate on areas such as information sharing to aid in the supervision of stablecoins.

Tom Lee, chairman of the Ethereum strategy-focused listed company Bitmine (BMNR) and co-founder of Fundstrat, said at a recent conference that structural changes are underway that could push Ethereum (ETH) to $250,000. According to CoinDesk, he argued that artificial intelligence (AI) and tokenization are driving a massive transformation in financial infrastructure, which could grow the Ethereum network's value into the trillions of dollars. Lee also emphasized that the era of the Ethereum Foundation is ending, noting that it has been reducing its influence for years and now holds only about 100,000 ETH. He predicted that corporate validators will take the foundation's place. He concluded that current bears are selling at the bottom, adding that widespread bearish sentiment is a signal of a market floor.

U.S. Secretary of State Marco Rubio said on June 2 that negotiations with Iran are still underway, but the timing for a potential agreement remains uncertain. He made the remarks during a hearing of the Senate Foreign Relations Committee, his first congressional testimony since the U.S. and Israel launched a major military operation against Iran in late February. In response to questions from lawmakers, Rubio explained that Iran has agreed to negotiate on parts of its nuclear program, a shift from its previous refusal to engage in dialogue. While an agreement could be reached today, tomorrow, or next week, he added there is no guarantee that a final deal requiring congressional ratification will be reached. Rubio also stressed that the U.S. has not offered to lift sanctions or allow the use of frozen assets in exchange for the reopening of the Strait of Hormuz. Any sanctions relief must be conditional on resolving the issues with Iran's nuclear program, which was the reason for the sanctions, he said.

U.S. President Donald Trump said talks with Iran are ongoing, Walter Bloomberg reported.