South Korea's national police has been battling crypto-enabled crimes from DPRK-state level threats to scams targeting retail investors.

The Hyperliquid Policy Center and Paradigm say the Treasury’s money laundering rules for the GENIUS Act are too onerous for stablecoin issuers.

Shopee's AI-driven job cuts highlight a tech industry shift, balancing cost efficiency with the need for rapid innovation to stay competitive.

The post Shopee cuts hundreds of developer jobs amid AI adoption appeared first on Crypto Briefing.

The partnership could significantly enhance crypto crime prevention in South Korea, potentially setting a precedent for global law enforcement collaboration.

The post Chainalysis partners with South Korean police to combat crypto crime appeared first on Crypto Briefing.

Ethereum is struggling below $1,700 as selling pressure and market uncertainty continue to define the short-term price structure. The asset has lost significant ground from the levels that briefly offered hope of a sustained recovery — but data from Arkham Intelligence has revealed an institutional development that reframes what is happening beneath the surface of the current weakness in a way that demands attention.

Bitmine — the Ethereum treasury company founded by prominent investor Tom Lee, whose bullish macro calls and institutional credibility have made him one of the most closely watched voices in traditional finance’s engagement with crypto — has just announced purchases totaling $213.57 million in Ethereum. The acquisition brings Bitmine’s total ETH holdings to 4.59% of the entire circulating supply.

That figure requires a moment to absorb. A single entity controlling 4.59% of Ethereum’s total supply represents one of the most concentrated institutional positions in the asset’s history. At current prices, the position is significant not only in dollar terms but in its structural implications for the available float — ETH committed to Bitmine’s treasury strategy is ETH that is not available for immediate sale on the open market.

Tom Lee’s firm is not reducing exposure into Ethereum’s weakness. It is announcing a $213 million purchase during it — expressing a directional conviction about where the asset goes from here that the current price below $1,700 has not diminished.

9.32 Billion in Ethereum and Still Buying

The Arkham data reveals the full scale of what Bitmine has already built — and the specific destination the accumulation strategy is moving toward. The company currently holds approximately $9.32 billion worth of Ethereum, representing 4.59% of the circulating supply. The position is already one of the largest single-entity Ethereum holdings ever documented on-chain.

But the accumulation is not complete. To reach the 5% threshold that appears to represent Bitmine’s near-term strategic target, the company needs to purchase an additional $819.86 million in Ethereum at current prices.

That figure is the most significant forward signal in the Arkham data. An institutional buyer with an identified, quantifiable purchase requirement of nearly $820 million represents a specific and predictable demand source that the market will need to price in regardless of current sentiment. Bitmine is not buying opportunistically based on daily price movements. It is executing against a declared strategic objective — and the distance between the current 4.59% and the 5% target defines exactly how much additional buying remains ahead.

For Ethereum struggling below $1,700 under selling pressure, the existence of a single buyer with $819 million still to deploy at current or lower prices creates a structural demand floor that most market participants have not yet fully incorporated into their assessment of where genuine support exists.

Ethereum Breaks Multi-Year Support

Ethereum remains under intense pressure on the weekly timeframe after collapsing below the critical $1,800-$1,900 support zone that had contained price throughout much of 2026. The breakdown confirms a major shift in market structure, with ETH now trading near $1,670 after reaching lows around $1,500 during the recent sell-off. More importantly, the failed recovery attempt from the March lows has produced a lower high near $2,350, reinforcing the broader bearish trend that has been developing since the 2025 peak above $4,800.

The technical damage is significant. ETH has now fallen below its 50-week, 100-week, and 200-week moving averages, leaving all major trend indicators positioned above current price action. The 200-week moving average near $2,450 has once again rejected price, while the 50-week and 100-week averages continue trending lower, confirming deteriorating momentum across multiple timeframes.

From a market structure perspective, the recent breakdown has erased the entire March-May recovery and pushed Ethereum back toward levels last seen during the first-quarter capitulation. Volume expanded sharply during the decline, suggesting the move was driven by aggressive distribution rather than ordinary profit-taking.

Bulls are attempting to stabilize above the $1,500-$1,600 region, but reclaiming the lost $1,800 support zone remains the first requirement before any meaningful recovery can begin. Until then, rallies are likely to face heavy selling pressure as bears maintain control of the trend.

Featured image from ChatGPT, chart from TradingView.com

Seoul police returned to Bithumb’s headquarters on Monday, carrying out a second search tied to a corruption probe centered on independent lawmaker Kim Byung-ki and claims that his son’s hiring at the exchange may have come through political pressure. The move came months after the first raid and pushed the case further into public view.

Police Return To Bithumb

Investigators from the Seoul Metropolitan Police Agency’s public crime team were reported to have arrived at the company’s Gangnam office in the morning, while separate officers also looked into another Bithumb site during the earlier February search. That first sweep took place on Feb. 24, and witnesses from the exchange were later called in again in April.

The new search signals that police are still trying to piece together the same set of questions. They want to know whether Bithumb’s records, hiring files and internal messages match the exchange’s public account of the case.

Hiring Claims At The Center

The main thread running through the investigation is the claim that Kim used his position to help his second son land a job at Bithumb. Reports indicate that Kim made hiring requests between September and November 2024, that the son was hired in early January 2025, and that he stayed at the exchange for about six months.

Kim’s committee role gave him oversight of financial and virtual asset policy, which is why investigators are also examining whether his questions to Dunamu, the operator of Upbit, may have been part of a broader effort that created pressure around Bithumb. The probe now covers 13 separate suspicions, including alleged nomination bribery.

Kim has been summoned about seven times over a nine-month span, according to the report, but police have not said the inquiry is finished. Bithumb, for its part, says the hiring followed normal procedures and that no irregularities were found in the process.

Local broadcasters moved quickly on the raid, with MBC, KBS and JTBC all carrying accounts of the search within hours. The exchange remains one of South Korea’s biggest trading venues and sits just behind Upbit in the domestic market, with about $576 million in daily volume reported in the story.

The latest raid also fits into a longer record of run-ins with authorities. The exchange has faced tax checks, fraud-related searches, token-manipulation probes and embezzlement-related raids in past years, making it a frequent target whenever South Korean regulators or police widen their focus.

Police disclosed that the wider case is still incomplete and requires further review before any findings are finalized, with no charges filed so far. Investigators added that any new materials gathered from Monday’s search could help accelerate the next phase of the inquiry.

Featured image from EPA Images, chart from TradingView

Circle has launched cirBTC on Ethereum, but the larger play is to make wrapped Bitcoin look like collateral infrastructure institutions can route through DeFi, OTC desks, lending markets, treasury systems, market makers, and settlement flows.

cirBTC is live on Ethereum and backed 1:1 by native BTC, according to Circle's launch materials. The company says the underlying Bitcoin is held through a Circle entity, segregated from corporate assets, and designed for onchain reserve visibility.

The product also sits inside Circle's existing stack. Circle is positioning cirBTC around Circle Mint, USDC workflows, Ethereum DeFi, and planned support for Arc and other chains.

This moves wrapped Bitcoin into an issue of trust. BTC itself does not move natively through Ethereum contracts, so any wrapped version asks users to trust a claim on Bitcoin held somewhere else.

For retail DeFi users, that can be a bridge decision. For institutions, it is a collateral decision: who holds the keys, how reserves are checked, what happens during redemption, and whether the operational process can survive internal risk review.

Circle is selling custody before yield

Circle's cirBTC pitch starts with the same basic promise as other wrapped Bitcoin products: one token for one BTC. The difference is the operating package around that promise.

Its materials say cirBTC is backed by native BTC, reserves are separated from corporate assets, and counterparties can verify reserves onchain. Circle also ties the product to the same institutional interface many firms already use for USDC issuance and redemption.

A desk that already moves USDC through Circle Mint could, in theory, add BTC collateral to the same account-and-settlement relationship instead of stitching together a separate custodian, wrapper, exchange, bridge, and DeFi access point.

The proof-of-reserve component supports that positioning. Proof of Reserve systems can help tokenized assets and DeFi protocols monitor backing data onchain and build safeguards around undercollateralization.

For cirBTC, the next live signal is the reserve feed or dashboard counterparties can use for the token itself.

That leaves counterparty trust in place. cirBTC still depends on custody, redemption, reserve controls, and user confidence in Circle's process.

The institutional pitch is that those assumptions can be packaged in a cleaner way, with the BTC claim, reserve visibility, and Circle account relationship pointing in the same direction.

The comparison is clearest against cbBTC and WBTC.

Coinbase's cbBTC is also a 1:1 BTC-backed wrapped asset, held in Coinbase custody and available across Base, Ethereum, Solana, and Arbitrum.

Coinbase also maintains a proof-of-reserves page, giving users a public reserve and supply reference for the product. Availability and terms can vary by jurisdiction.

WBTC remains the incumbent Bitcoin wrapper in Ethereum DeFi. Its own site presents WBTC as backed 1:1 by Bitcoin, with a public reserve dashboard and proof-of-reserve context.

Circle's opportunity sits in the trust bundle it can offer: the USDC issuer, Circle Mint, reserve transparency, Ethereum access, and future Arc support under one institutional brand.

The comparison shows why cirBTC is more than a token launch. Wrapped Bitcoin products increasingly compete on the legal and operational identity of the issuer, the visibility of reserves, and the pathways by which collateral enters lending markets.

Coinbase has already tied cbBTC to lending through Base. CryptoSlate reported that Coinbase and Morpho introduced Bitcoin-backed loans on Base, using cbBTC and USDC in a consumer-facing borrowing flow.

That comparison shows the distribution Circle has to challenge if cirBTC is to become more than another Ethereum asset.

Arc gives cirBTC a bigger role

Circle's Arc ambitions give cirBTC a second layer of meaning.

Arc is being pitched as infrastructure for stablecoin finance, with USDC fees, settlement tooling, privacy controls, and institutional use cases around payments, foreign exchange, tokenized assets, and capital markets.

Circle has described Arc as a chain purpose-built for stablecoin finance, and CryptoSlate has previously reported how the network pushes Circle deeper into territory also occupied by Coinbase and Base.

In that context, cirBTC could become the Bitcoin leg of a broader Circle stack. USDC provides the dollar asset. Circle Mint provides issuance and redemption access. Ethereum provides current DeFi reach.

Arc, if it develops as planned, could give Circle a venue where tokenized dollars, BTC collateral, and settlement workflows operate with fewer handoffs.

The record remains early. Circle says cirBTC is live on Ethereum and points to planned Arc and multichain support. Its launch materials stop short of showing broad DeFi protocol adoption, live Arc usage for cirBTC, or a supply figure that would show market depth.

A token can be fully backed and still fail to become preferred collateral.

Institutions and DeFi protocols still need liquidity, risk parameters, redemption confidence, oracle support, and a clear reason to add another BTC wrapper beside existing options.

The broader market context is already moving in that direction. CryptoSlate recently framed a Morgan Stanley and Galaxy arrangement as part of Bitcoin's next institutional test in lending collateral.

The cirBTC launch fits that same issue: Bitcoin can become useful collateral for institutions when the custody and risk controls around the token are strong enough to satisfy the people managing the real BTC.

Arc also gives the Coinbase comparison more weight. Coinbase can route cbBTC through Base and its own account system; Circle is trying to offer a parallel route built around USDC, Mint, and Arc.

The adoption contest centers on which issuer can turn custody relationships into liquidity.

Acceptance decides whether the wrapper becomes infrastructure

Circle has the right ingredients for a bank-grade wrapper: a known issuer, reserve language, onchain verification, institutional access, USDC proximity, and an Arc roadmap.

Collateral infrastructure comes later, when counterparties use those ingredients in production.

That means lenders need to accept the asset, market makers need to quote it, treasury teams need clean redemption, DeFi protocols need collateral parameters, and risk desks need confidence in the reserve process.

Users also need to move between BTC exposure and dollar liquidity without wondering where the real Bitcoin sits.

That is where cirBTC will face WBTC and cbBTC. WBTC has incumbent DeFi familiarity. Coinbase has distribution, custody, and Base workflows.

Circle has USDC, Mint, compliance credibility, and an ambition to own more of the settlement stack through Arc.

Circle can turn wrapped Bitcoin into institutional collateral infrastructure if cirBTC becomes the wrapper institutions choose because the custody, reserve, and redemption model lowers operational friction.

If liquidity stays elsewhere and Arc remains future context, cirBTC will still read as a product launch rather than infrastructure.

For now, Circle has changed the frame around wrapped BTC. The debate now centers on who institutions trust to hold the Bitcoin while the token moves through programmable finance.

The post Circle wants wrapped Bitcoin to look bank grade before institutions trust it as collateral appeared first on CryptoSlate.

President Donald Trump’s family has turned crypto into one of the most lucrative businesses tied to its name, outpacing some of the companies that spent years building the digital asset market.

Between the post-election momentum of November 2024 and April 2026, ventures tied to the US President generated roughly $2.3 billion in pretax crypto income, Reuters reported.

To understand the sheer scale of this capital extraction, one must look at the foundational pillars of the industry during that same window.

For context, the Trump firm's gains exceeded Coinbase’s $2.1 billion in income over the same period, as well as earnings from major crypto operators across mining, stablecoins, exchange-traded funds, and market infrastructure.

IREN, the largest Bitcoin miner by market value, earned $127 million during the period. BlackRock’s Bitcoin ETF business, built around IBIT, the world’s largest spot Bitcoin fund, generated an estimated $109 million.

Meanwhile, Circle, the issuer of USDC stablecoin, lost $14 million, while Galaxy Digital, a major crypto company, posted a $430 million loss.

Unlike Coinbase or BlackRock, the Trump Organization did not compete on trading latency, deep liquidity, or assets under management.

Instead, it leveraged an entirely different business model: an asymmetrical risk structure where the family deployed minimal personal capital, yet captured massive upside via token sales, founder allocations, and equity stakes.

However, the market dynamic has proven entirely zero-sum. Data indicates that the $2.3 billion captured by the president's family mirrors the $2.25 billion in estimated net losses absorbed by the retail and public-market investors who bought into these ventures.

Monetizing the Trump name

World Liberty Financial accounted for the largest share of the Trump family’s reported crypto revenue.

The project began selling governance tokens in October 2024, with Trump and his sons promoted as central figures. Donald Trump Jr. and Eric Trump traveled to pitch World Liberty’s vision of a financial system outside traditional banks, while the company positioned itself as a decentralized finance and stablecoin platform.

The project’s economics gave the family a direct claim on token sale revenue. DT Marks DEFI LLC, a corporate entity linked to the family, secured a contractual right to 75% of token sale proceeds after expenses, generating an estimated $987 million for the family.

That structure allowed the family to collect revenue from the primary token sale, limiting its exposure to later market declines.

However, the token Buyers faced a different outcome. World Liberty investors were sitting on roughly $674 million in losses by the end of April, weighed down by long lockup periods and a sharp decline in the token’s post-listing value.

Meanwhile, a similar pattern emerged with the TRUMP meme coin. The token launched shortly before Trump’s second inauguration and became a speculative vehicle tied to the president’s political brand rather than an asset with clear underlying utility.

Blockchain analysis of exchange transfers suggested the project generated more than $1.2 billion in total revenue, including an estimated $616 million for the Trump family.

Like WLFI, retail buyers absorbed the losses as the token fell from highs of $75.35, leaving investors with more than $700 million in losses.

Wall Street opened another route into the trade

Trump-linked crypto gains also moved through public companies, extending the trade beyond tokens and into brokerage accounts.

ALT5 Sigma, a small Nasdaq-listed company now known as AI Financial Corp., became one of the clearest examples. The company raised $750 million by selling new shares and used $717 million to buy World Liberty tokens. Reuters reported that more than $500 million from that purchase flowed to the Trump family through World Liberty’s revenue-sharing structure.

The deal gave public-market investors indirect exposure to World Liberty through a listed stock. Eric Trump and Donald Trump Jr. later rang the Nasdaq opening bell after the transaction closed, turning the token purchase into a Wall Street event.

The stock then collapsed. Reuters reported that ALT5’s share price fell from more than $9 in August 2025 to 75 cents by the end of April, leaving investors with about $675 million in losses.

The family’s economics were separate from that decline because its gain came from World Liberty’s sale of tokens to ALT5. Outside shareholders carried the risk of the listed company’s falling share price.

American Bitcoin offered another public-market channel. The Bitcoin mining and treasury company, backed by Donald Trump Jr. and Eric Trump, gained a Nasdaq listing in 2025.

Reuters reported that the Trump brothers received stakes in American Bitcoin at no monetary cost. Eric Trump’s stake was still worth more than $70 million at the end of April, even after a sharp decline in the stock. Donald Trump Jr.’s stake was not disclosed.

Outside investors again absorbed the losses. American Bitcoin shares fell from $11 at their September launch to $1.15 at the end of April, Reuters reported, wiping out more than $200 million for investors.

The listed-company deals expanded the reach of the Trump crypto business as investors who may never have bought a meme coin or governance token directly were able to take exposure through ordinary equities.

However, the result was the same financial split: Trump-linked entities captured early value, while public investors were left exposed to falling market prices.

Ethics questions follow the money

These market maneuvers are occurring against a complex regulatory backdrop. The current administration has actively championed digital assets, pushing stablecoin legislation and directing federal agencies to adopt a “light-touch” framework.

While this macro policy pivot has undeniably benefited the broader crypto sector, the direct financial windfall enjoyed by the First Family has triggered unprecedented ethical alarms.

Watchdogs argue that while the mechanisms of these corporate maneuvers appear strictly legal under current law, they represent a profound conflict of interest that monetizes an industry the executive branch is actively deregulating.

This intersection of policy and personal profit has drawn fierce legislative blowback.

Democratic lawmakers, spearheaded by Senator Elizabeth Warren, have petitioned agencies like the CFTC and SEC, arguing that the administration's deep financial entanglements in crypto and prediction markets severely compromise federal rule-making, subordinating public protection to the president's personal balance sheet.

However, the White House continues to categorically dismiss these allegations, maintaining that the administration's sole objective is securing American dominance in the global digital asset race.

Representatives for World Liberty have similarly pushed back, framing the protocol as a purely private fintech enterprise rather than a political vehicle.

Yet, beyond the partisan rhetoric, the ledger is remarkably clear. By treating the presidency as a premium licensing asset, the Trump family has executed one of the most efficient capital extraction strategies in modern financial history, leaving a trail of underwater retail investors holding the bill.

The post Trump family’s $2.3B crypto windfall matched by $2.25B in investor losses, Reuters finds appeared first on CryptoSlate.

Prediction market Kalshi launched 3 market integrity measures: risk scoring for new listings, employment verification for markets with manipulation risk, and enhanced whistleblower reporting tools across the platform.

The measures take effect immediately and follow the first report from Kalshi’s independent Surveillance Audit Committee.

How Kalshi’s New Measures Work

According to the announcement, every proposed market now receives a risk score before listing. The system weighs six factors. These include corporate KPI risk, outcome concentration, market importance, regulatory fit, non-traditional insider risk, and national security risk.

Markets with high insider or manipulation risk now require traders to provide employment information. This lets Kalshi identify presumptive insiders and screen them out before any trade executes. 

Finally, the whistleblower upgrade adds reporting tools to every market on the exchange. Tips route directly to a surveillance team that monitors the feed around the clock.

“By implementing these new integrity measures, we continue to lead the industry on the issue of market integrity amongst federally regulated prediction markets,” Kalshi Head of Enforcement Robert DeNault said.

The prediction market platform also revealed that the enforcement record in Q1 included 150+ investigations, 20+ referrals to law enforcement, and 5 disciplinary actions. Kalshi said that its screening tools blocked more than 100 potential insider trades in the first quarter.

The Surveillance Audit Committee will deliver quarterly reports going forward. Its next review may show whether these measures curb insider trading on Kalshi.

Follow us on X to get the latest news as it happens

Why Prediction Markets Face Insider Trading Pressure

Insider trading has become a key integrity problem for prediction markets as trading volumes grow. Rival platform Polymarket partnered with Chainalysis to monitor trading activity.

Suspicious activity has surfaced, particularly in geopolitical markets. Both major platforms have since tightened their rules, and Kalshi’s update marks the latest effort to win back trader confidence.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Kalshi Launches 3 Market Integrity Measures to Block Prediction Market Insiders appeared first on BeInCrypto.

The crypto market fell again on June 10 as the total market cap slipped near 1% to $2.10 trillion, holding just above the $2.02 trillion floor.

Bitcoin (BTC) dropped about 3.2% over 24 hours, failing to reclaim resistance. Hyperliquid (HYPE), the biggest top-100 loser, sank more than 10%, yet held its bullish pattern despite the heavy bleed.

In the news today:-

• SpaceX lists on Nasdaq Thursday at $135 a share, and the chosen direct-share investors can sell from day one while Elon Musk faces a one-year lockup, setting up immediate supply against retail buyers.
• Morpho (MORPHO) rose 7.5% over 24 hours, defying the market slide, after a $175 million round co-led by Paradigm, a16z crypto, and Ribbit lifted a protocol holding over $11 billion in deposits.
• Ethereum (ETH) sentiment crashed into extreme fear near $1,626, a zone Santiment flags as a historical buy signal, though four straight weeks of ETF outflows cloud the rebound case.

Crypto Market Bleeds as Leverage and ETF Outflows Bite

The total crypto market cap fell close to 1% to $2.10 trillion, extending the breakdown from the $2.72 trillion peak set May 10. The driver is mechanical.

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

CoinGlass data shows $316 million in long liquidations over 24 hours against just $81 million in shorts, so forced selling from over-leveraged longs keeps adding supply into a falling market.

Spot ETF flows compound it. SoSoValue data shows a fifth straight week of net BTC outflows, with $168.81 million leaving in the week to June 9, which strips a steady bid from the market just as leverage unwinds.

The structure is fragile. The market lost the $2.19 trillion level on June 4 and has not reclaimed it.

That level now caps any recovery. If $2.19 trillion is reclaimed, the market opens room toward $2.29 trillion and $2.37 trillion. If the $2.02 trillion support breaks, the next leg lower has little beneath it.

Bitcoin Stays Weak Below Resistance as Selling Volume Builds

Bitcoin traded at $61,324, down about 3.2% over 24 hours and still off 0.55% from the prior close, which shows the weakness carried into today. The same liquidation loop driving the broader market hit BTC hardest, since Bitcoin led the 24-hour tally at $117.80 million in liquidations.

The fifth week of ETF outflows removes the institutional bid that previously absorbed these dips, leaving price exposed.

The chart confirms the pressure. Bitcoin failed to reclaim $64,645, the 0.236 Fibonacci level and selling volume has picked up since June 6. That brings $59,056 into view as the next downside test. Momentum only shifts if BTC reclaims $64,645 and then $68,103. A return above $73,692 would be needed to restore a bullish structure.

A daily close above $64,645 targets $68,103. A close below $59,056 opens the next leg down.

Hyperliquid (HYPE) Drops Over 10% but Holds Pattern

Hyperliquid traded at $55.65, down more than 10% over 24 hours and the worst performer among the top 100. The same market-wide deleveraging that pressured BTC dragged HYPE lower, since high-beta tokens fall hardest when forced selling drains liquidity. The token also logged $12.90 million in liquidations over the period, adding to the broad risk-off move.

The setup is not all bearish, however. HYPE remains inside the rising channel it has traded since May 14, which keeps the medium-term uptrend intact. Meanwhile, selling volume has dropped sharply since June 4 even as price fell, a divergence that points to fading sell pressure and possible consolidation if the lower trendline holds.

The levels are clear from the current swing. A daily close under $55.13 would weaken the structure and expose $46.94. A reclaim of $64.11 would reopen the path toward $74.16 and $78.65, though HYPE needs roughly 15% of upside to turn bullish again.

The $55.13 line separates a structural breakdown from a hold that keeps the channel and the recovery case alive.

The post Why Is The Crypto Market Down Today? appeared first on BeInCrypto.

On June 9, Grayscale shared a report regarding Bitcoin’s current price movement amid the bearish sentiment in the overall crypto market.

🆕 Grayscale Research: Is Bitcoin cheap yet?

After hitting a new cycle low of ~$60K, onchain valuation metrics say undervalued, but not as cheap as past cycle lows.

Identifying the bottom comes down to two catalysts:
↳ CLARITY Act
↳ How levered $BTC holders hold up.

Read… pic.twitter.com/9HbD65oXWM

— Grayscale (@Grayscale) June 9, 2026

Grayscale Research Says, This Bear Market is Shallower Than Previous Cycles

According to the research by Grayscale, on-chain data suggests that Bitcoin is currently trading below its long-term average, and it looks undervalued. However, the company mentioned that the price of Bitcoin is not as low as it was during the past bear market cycle during the FTX collapse in 2022.

The research stated that, “On-chain metrics suggest Bitcoin is undervalued, but not as cheap as previous cycle lows. Whether we have found the market bottom will depend on upcoming catalysts and the CLARITY Act, but we believe this is a buying opportunity for investors with long-term horizons.”

To do this research, Grayscale has used a composite on-chain valuation indicator. This is an average of many popular metrics. According to this indicator, Bitcoin is selling at a discount compared to its previous norms. However, the company made it clear that the current bear market has been mild in comparison to the previous cycles.

“We believe that this bear market may be shallower than in the past, given a more muted preceding bull market, as well as improvements in market structure from ETP availability, wealth platform deployment, and other types of institutional adoption,” stated the research.

In the report, the investors are currently focusing on the regulatory developments around the digital asset sector and how leveraged BTC holders are performing in the short term. Grayscale has mentioned two factors behind BTC’s price movement on the short-term chart.

The first one is the progress in the Digital Asset Market Clarity Act (CLARITY) in the Senate. In May, the Senate Banking Committee approved the CLARITY Act after a long delay in the process.

Senator Cynthia Lummis stated in the post on X, saying that, “I’ve spent years building toward this moment. The Clarity Act is the most consequential financial legislation of this generation, and we are going to get it done.”

The major factor to watch for investors is whether leveraged Bitcoin holders will be able to stabilize their balance sheet.

“We believe that current price levels offer an opportunity for investors with long-term investment horizons to consider dollar-cost averaging their Bitcoin purchases. More tactical traders may want to consider waiting on CLARITY,” a Grayscale researcher said.

Bitcoin Struggles to Recover Amid Major ETF Outflows

According to CoinMarketCap, BTC is currently trading at around $61,901 after witnessing a drop of 21% in the last 30 days.

This turmoil in the financial world has created intense selling pressure in the crypto market as investors have started pulling out their money. Bitcoin exchange-traded funds (ETFs) like BlackRock ETFs have witnessed the longest streak of outflow of its history, which lasted for 13 days. In total, investors have withdrawn around $4.4 billion worth of investments.

Even BTC ETFs are still witnessing major outflows. On June 5, BTC ETFs recorded an outflow of around $325.7 million, according to Farside. On June 8, it witnessed an outflow of around $91.4 million. This shows the depleting trust of institutional investors in the crypto market during high volatility periods.

Amid the bearish sentiment in the overall crypto market, BlackRock has reportedly moved $227 million worth of Bitcoin (BTC) to Coinbase Prime, which is a leading brokerage platform.

BlackRock Just Moved $227M in Bitcoin , And Traders Are Already Watching Closely

A massive Bitcoin transfer just hit the chain.#BlackRock⁩ moved 3,580 $BTC , worth approximately $226.8 million, to Coinbase Prime, catching the attention of on-chain trackers across the market.… pic.twitter.com/j3WZ68ie2s

— EyeOnChain (@EyeOnChain) June 8, 2026

BlackRock Moves Fund Transfers After Major Outflows in ETFs

On June 8, the on-chain data provided by Arkham revealed that BlackRock-linked addresses witnessed an outflow of 3,580 Bitcoins, which is worth around $226.8 million. These transactions have sparked a fear within the community as large amounts of BTC have entered exchanges.

While Bitcoin (BTC) is already facing selling pressure, this transfer of BTC on the brokerage platform is raising questions about the intention of BlackRock behind this transaction.

Coinbase Prime is the leading brokerage platform for many financial institutions, including BlackRock’s iShares Bitcoin Trust (IBIT), along with its Ethereum Trust. Coinbase Prime is known for various services, including secure custody of assets, ETF share creation and redemption support, managing liquidity, executing trades, and others.

For major financial institutions and ETF issuers, Coinbase Prime is known for handling money inflows and outflows while working on internal treasury operations.

Bitcoin (BTC) Reclaims $64,000, But Fear Still Persists

After the recent bloodbath in the crypto market, on Monday, June 8, 2026, Bitcoin (BTC) gave a sign of recovery as it reclaimed a mark of $64,000. At the time of writing this, Bitcoin (BTC) is trading at around $64,113 with a spike of 3.81% in the last 24 hours, according to CoinMarketCap. BTC currently holds a market capitalization of around $1.28 trillion. The daily trading volume has soared above $36.08 billion.

However, the Fear and Greed Index is still showing that the crypto market is in an extreme state of fear. As of now, the Fear and Greed index stands at 8, which indicates extreme fear. 

https://x.com/BitcoinFear/status/2063976865904074797

After witnessing the longest streak of 13-day outflows in BTC ETFs, BTC has experienced a major crash. In the last 30 days, BTC has dropped from $80,000 to as low as $60,000. 

According to Farside, on June 5, BTC ETFs recorded a major outflow of $325 million. Between May 14 and June 3, investors withdrew approximately $4.4 billion from spot Bitcoin exchange-traded funds. BlackRock iShares Bitcoin Trust (IBIT) has recorded the biggest outflows of around, which is around 75% of total outflows. The streak was broken on June 4, when it recorded a small inflow of $3.2 million.

Bitwise’s Hyperliquid ETF (BHYP) Records First Outflow

Bitwise sold HYPE for the first time ever.

Bitwise BHYP ETF clients net sold $2.9 Million of HYPE on Friday, the first time they have ever done so.

However, they have still net bought $89.4M over the past 3 weeks that BHYP has been live. pic.twitter.com/IQJO9OQVta

— Arkham (@arkham) June 8, 2026

On Friday, Bitwise recorded its first-ever net sale of the HYPE token through the Bitwise Hyperliquid ETF (BHYP). According to SoSoValue, investors of the BHYP ETF have sold approximately $2.9 million worth of the token. This was the first time money flowed out of the fund after its launch on May 15. At the time of writing, the cumulative inflow was $87 million. 

The overall crypto market is currently struggling to gain upward momentum. The ongoing war between U.S-Iran, a higher inflation rate, and the global energy crisis are creating selling pressure in the crypto market.

Bitcoin is already being eyed for a move toward $65,000 if a US-Iran deal is sealed, with US President Donald Trump saying such an agreement could be signed within two or three days.

The top crypto asset had also clawed back from recent lows near $59,500 and was trading around $62,350 as traders weighed the odds of a shift in Middle East tensions.

Trump Sets A Tight Timeline

Trump said on Monday that talks were in their final stretch and that he did not see major obstacles left. He described the deal as a strong one and tied the talks to wider efforts to calm the fighting in the region.

The comments came after reports that Trump warned Israeli Prime Minister Benjamin Netanyahu that continuing military action could leave Israel with less US backing. He later wrote on Truth Social that Iran and Israel were both looking for an immediate ceasefire while peace talks kept moving.

Deal Hopes Meet Old Doubts

The latest timeline has not quieted skepticism. Trump has raised hopes of a near-term deal before, and the new comments landed after weeks of similar claims that never turned into a signed agreement.

Some of the hardest issues are still unresolved, including sanctions, nuclear limits, and long-term security guarantees. Reuters has also reported that earlier talks left the sides split over frozen funds and the future of shipping through the Strait of Hormuz.

TRUMP: IRAN DEAL COULD BE DAYS AWAY

PRESIDENT TRUMP SAYS THERE IS A “VERY GOOD CHANCE” OF REACHING A DEAL WITH IRAN IN THE NEXT TWO OR THREE DAYS “WE’RE VERY CLOSE.”

WHAT HAPPENS TO OIL IF A DEAL GETS DONE? pic.twitter.com/YpXuhpDCNm

— Money Ape (@TheMoneyApe) June 9, 2026

That is why traders are treating the latest remarks as one more step, not a finish line. Reports suggest that a successful deal could open the door first to the $65,000 area and, with stronger buying, to $70,000 and beyond.

Oil is part of the same trade. Reuters reported that crude fell on Tuesday after Iran and Israel said they had halted attacks, with Brent at $92.60 a barrel and US West Texas Intermediate at $89.10.

The Strait of Hormuz remains the key pressure point, since it handles a large share of global oil and gas flows, and any easing of tension there could cool prices further. There were also reports that the market has swung on and off this storyline before, with each new round of hope meeting fresh warnings soon after.

For Bitcoin, that leaves a narrow path. A deal that cools oil and broadens risk appetite could help crypto, but the market is still waiting for an actual signature, not just another promise that talks are close.

Featured image from Unsplash, chart from TradingView

The founder of Capriole Investments has highlighted how Bitcoin is at the threshold of a zone that has historically provided the best long-term opportunities.

Bitcoin Has Returned To Its Production Cost

In a new post on X, Capriole Investments founder Charles Edwards has pointed out that Bitcoin is back at its Production Cost. The “Production Cost” here refers to an indicator that estimates the global average USD cost of producing one token of the cryptocurrency per day.

BTC uses a consensus mechanism called the proof-of-work (PoW) in which validators called miners compete against each other using computing power to gain the chance to add the next block to the chain.

Today, the blockchain is so competitive that the average miner requires a ton of machines to have a shot at making revenue. Setting up mining farms can require a significant initial investment, but what determines whether the miner can earn an income is the cost required to keep these facilities running. A high amount of computing power is generally costly to run, with the main expense coming in the form of electricity bills.

As the below chart shared by Edwards shows, the Bitcoin Production Cost is about $62,650 right now.

This level is about where the spot price of Bitcoin also happens to currently be trading. Thus, if the estimate of the metric is anything to go by, miners are just breaking even on their operations.

Following this development, BTC is now on the boundary of a zone that has been significant for the cryptocurrency in the past. “The best Long-term value opportunities have historically been between here and Electrical Cost, currently at $50K,” noted the analyst. The “Electrical Cost” here is the total cost that miners are paying for electricity alone. This level has served as a sort of lower boundary for Bitcoin over the various cycles.

The Production Cost suggests that miners are under pressure at the moment. How are they reacting to this? An indicator that can be useful for following miner behavior is the Hashrate, tracking the total amount of computing power connected by these validators as a whole.

According to data from CoinWarz, this metric has slumped recently.

From the chart, it’s visible that the Bitcoin Hashrate currently has a value of about 837 exahashes per second (EH/s). During May, the indicator frequently touched the 1,000 EH/s mark, more than 19% higher than the latest level. Thus, it would appear that some of the miners have disconnected from the network in response to the bearish market.

BTC Price

At the time of writing, Bitcoin is trading around $62,400, down 9.5% over the past week.