Bitcoin’s Crash Has Broken Below A 4-Month Support, But There’s Still One More Play Left

Bitcoin (BTC) has been in a sharp downtrend over the past two weeks, facing steady declines as selling pressure, market volatility, and negative sentiment weigh on its price. During one of its recent market crashes, a crypto analyst noted that BTC had officially broken below a critical four-month support level, leaving the cryptocurrency in a precarious position. The expert now outlines what could happen next, and none of the scenarios suggested point to a fresh bull run—rather, Bitcoin may be headed for an even deeper bear market decline. 

Bitcoin Price Crash Breaks Key Support

Crypto market expert Aralez announced in an X post on June 2 that Bitcoin had officially broken a critical four-month support level that had been holding its price steady. The latest decline saw the cryptocurrency lose more than 8% of its value in a single day, falling below $69,000. 

Aralez explained that Bitcoin’s first goal during this bearish phase was to fill the Chicago Mercantile Exchange (CME) gap in the $74,000 – $81,000 range. His accompanying price chart shows that the CME gap was completely filled earlier in May when Bitcoin briefly climbed above $80,000. At the time, the cryptocurrency had been trading within a tight ascending channel, defined by an upper resistance trendline and a lower support line. 

This channel had guided BTC’s price up until its latest crash, which saw it break below the pattern’s lower boundary near $70,000. Since crossing $80,000, Bitcoin has entered a rather frightening downtrend, recently crashing below $63,000 after losing the $70,000 support. 

At the time of writing, Bitcoin is trading just above $62,000, down more than 2.3% in the past 24 hours and over 15% in the last seven days. Analysts tracking this bearish trend add that further declines could still occur until a bottom forms below $60,000, officially ending the bear phase.

As for Aralez, he noted that a sharp sell-off immediately after hitting upside targets is usually a strong indication that the cryptocurrency’s downside momentum is far from over. As a result, he predicts that Bitcoin’s next move is likely a brief bounce to higher levels before another full-blown price crash to fresh lows.

Analyst Outlines BTC’s Final Bearish Play

In his analysis, Aralez outlined his roadmap for Bitcoin over the next 30 to 60 days. He first predicted that BTC could bounce back to the $71,000-$72,000 range and consolidate there for a bit. Afterward, the analyst expects the cryptocurrency to decline sharply toward lower-liquidity levels of $65,000-$63,000.

Once that range is reached, Aralez forecasts a brutal sweep below $60,000, suggesting a potential Bitcoin bottom near $55,000. He cautioned investors not to mistake the current market for the start of a new bull run. Instead, he said the market looks more like a classic bull trap that could catch many investors off guard. 

He added that the Bitcoin path with the least resistance points to lower levels. As the cryptocurrency continues its decline, he urged traders and investors to avoid becoming exit liquidity.

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Hyperliquid Strategies Stays Profitable: Strategy And Bitmine Record Losses Above $10 Billion

Crypto markets endured further pressure this week as the sell-off spread to some of the industry’s largest digital asset treasuries (DATs). As of Friday, Bitcoin (BTC) had slipped back below $60,000 for the first time since 2024, Ethereum (ETH) was trading around $1,550, and Hyperliquid (HYPE) was near $57. 

While the declines weighed on the broader market, the impact has been most visible in the large treasury companies associated with BTC and ETH—specifically Strategy (MSTR) and Bitmine (BMNR). 

Hyperliquid Strategies (PURR), however, has continued to post gains on an unrealized basis, highlighting how its performance still outpaces the market’s major benchmarks.

Hyperliquid Strategies Avoids The Worst With $1.2B Gains

According to Artemis data, Strategy and Bitmine are carrying significant unrealized losses of about $12.8 billion and $10.3 billion, respectively. In contrast, Hyperliquid Strategies is positioned differently. 

Artemis data further indicates that Hyperliquid Strategies is the only major digital asset treasury company in the industry so far still in positive territory, with approximately $1.2 billion in unrealized gains, as seen in the chart below. 

In practical terms, that means the stress seen across most crypto-linked balance sheets has not hit Hyperliquid in the same way, even as prices pulled back sharply elsewhere.

The weakness has also reached other large public holders beyond the two biggest names. Lookonchain data shows the recent retrace has extended further, with SharpLink down $1.59 billion on ETH, and Metaplanet down $1.38 billion on BTC. 

The pattern is consistent: as BTC and ETH retrace, companies concentrated in those assets tend to reflect the decline in their mark-to-market or unrealized reporting.

Weekly BTC, ETH Pullback Hits MSTR, BMNR Stocks

Bitcoin’s move has been particularly notable on the weekly chart. The asset recorded a major 20% retrace on the weekly time frame, and that broader drop has filtered down to equities and crypto proxies as well. 

Strategy’s stock, MSTR, fell 14% on Friday alone, trading around $115 per share. Bitmine’s stock, BMNR, also logged double-digit losses on Friday, down 12% to roughly $15.76 per share, adding to pressure on investors.

Hyperliquid’s native token, HYPE, saw its own sharp decline during the same period, dropping 14%. Even with that pullback, Hyperliquid Strategies’ PURR price showed comparatively limited movement, with only a 1.2% retrace to $8.3 for the current trading session. 

Together, these snapshots underline a clear divergence: While Strategy and Bitmine reflect the drawdown of BTC and ETH in a straightforward way through large unrealized losses, Hyperliquid Strategies remains comparatively resilient, maintaining positive unrealized performance even as the market sells off.

Featured image created with OpenArt; chart from TradingView.com 

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Institutions Are Loading Up On XRP, But Liquidity Tells A Different Story

XRP is attracting institutional capital at a time when liquidity across the market is moving in the opposite direction. Fresh ETF inflows and growing accumulation among long-term holders continue to support the bullish case, but recent data suggest a different challenge is emerging beneath the surface. While demand appears healthy, the amount of liquidity available to absorb buying and selling activity has fallen sharply. 

XRP Continues To Attract Institutional Interest

XRP has increasingly distinguished itself from the broader digital asset market. While several major crypto investment products struggled to attract capital in recent months, XRP-focused funds racked in $131.94 million in May 2026. 

This trend has remained largely consistent. Apart from a brief slowdown in March, XRP investment products have continued to attract capital, with fresh inflows extending into early June. Institutional capital inflow is particularly noteworthy because it comes at a time when investor sentiment has deteriorated across many digital assets. Rather than pulling back, institutions appear to be viewing XRP as a strategic opportunity.

On-chain data reinforces that view. As prices declined toward the start of June, long-term holders increased their positions. Recent holder net position data shows a sharp rise in accumulation, suggesting that experienced investors were buying during the selloff rather than exiting the market.

Liquidity Dries Up As XRP Tests Major Support

According to @CryptoQuant_com on X, XRP’s Binance 30-day Liquidity Index has fallen to its lowest level since early 2020. The indicator has dropped close to zero even though XRP continues to trade above $1.20. Historically, higher liquidity levels have accompanied some of XRP’s strongest rallies, making the current decline particularly noteworthy.

For newer investors, liquidity refers to how easily an asset can be bought or sold without causing major price swings. When liquidity falls, fewer orders are available to absorb trades, making the market more vulnerable to sudden volatility. Under these conditions, even modest buying or selling pressure can trigger outsized price moves.

The technical picture reflects this growing tension. Following a steep 53% correction earlier this year, XRP entered a broad ascending channel and has spent several months consolidating within that range. Recent selling pressure has pushed the asset back toward the lower boundary of the channel near $1.19-$1.20, an area that also aligns with a major Fibonacci support level around $1.20.

If buyers regain control, resistance levels sit near $1.29, $1.36, $1.45, and $1.51, while a move toward $1.60 would bring the upper boundary of the channel back into focus. However, a decisive break below the $1.19 support zone could expose XRP to further downside toward $1.11 and potentially the psychological $1 level.

For now, XRP remains at the intersection of two opposing forces. Institutional demand continues to strengthen, but liquidity has fallen to multi-year lows. Until one side gains the upper hand, XRP’s next major move may depend less on investor interest and more on whether the market has enough liquidity to absorb it.

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Bitcoin Critic Peter Schiff Predicts USDT Will Eclipse BTC

Bitcoin dropped to around $61,500 in recent days, its weakest level in roughly four months, and Peter Schiff wasted no time connecting that slide to a broader argument he has been making about stablecoins.

A Stablecoin On The Move

Tether’s USDT has already climbed to a market capitalization of nearly $188 billion, according to data from DeFiLlama, closing the gap with Ethereum to just under $26 billion. Schiff, the economist and longtime Bitcoin critic, says the numbers point to an inevitable outcome.

“The market cap of Tether will soon surpass the market cap of Ethereum,” Schiff wrote on X. “It will eventually surpass the market cap of Bitcoin, too. The only question is how long it will take.”

USDT has become a dominant tool for moving money across crypto markets, and its reach now extends into payments, remittances, and digital dollar transfers — a trend he says supports his case.

USDT holds a one-dollar peg, setting it apart from Bitcoin and Ethereum, and that stability makes it the go-to choice for users who want to move money without taking on price risk.

The market cap of Tether will soon surpass the market cap of Ethereum. It will eventually surpass the market cap of Bitcoin too. The only question is how long it will take.

— Peter Schiff (@PeterSchiff) June 4, 2026

Not His First Warning

Schiff has been sounding alarms about Bitcoin for years. His latest comments include a prediction that BTC could eventually fall below $20,000, which would represent a drop of roughly 80% from its October 2025 peak near $126,200.

He has also pointed to weakness in tech stocks as a pressure point for Bitcoin, noting that the crypto asset has relied on the broader tech rally for support.

“It looks like the correction in tech stocks has finally begun,” Schiff said. “As tech stocks sell off, Bitcoin should crash. Gold will likely head in the opposite direction.”

Bitcoin recently suffered a sharp hourly decline of more than $2,000, briefly touching $61,460, as selling pressure spread across the market and triggered over $1 billion in leveraged liquidations.

USDT’s Growing Reach

Reports indicate Ethereum’s position as the second-largest crypto asset is now under pressure from a stablecoin rather than another blockchain competitor.

At current figures, USDT would need to grow by roughly 15% to pull ahead of Ethereum, while matching Bitcoin’s $1.28 trillion market cap would require a far larger expansion of nearly seven times its present size.

Schiff’s prediction has drawn attention not just for its boldness but for its timing, arriving as stablecoin adoption continues rising and crypto markets face renewed turbulence.

Whether the prediction holds up remains an open question, though the narrowing gap between USDT and Ethereum suggests the first part of his forecast may not be far off.

Featured image from Unsplash, chart from TradingView

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Bitcoin’s Great Wealth Transfer May Fuel Next Rally, Says CryptoQuant CEO

CryptoQuant CEO Ki Young Ju says Bitcoin’s current distribution phase may be less a sign of structural weakness than a major transfer of supply from old market participants to US financial institutions, ETFs and new long-term holders.

In a series of posts on X, Ki argued that selling by Bitcoin OGs and long-time miners is part of a broad “change of hands” rather than evidence that the asset has exhausted its cycle. The key question, in his view, is not only how much supply is being sold, but who is ultimately absorbing it.

“I believe that the selling by Bitcoin OGs and long-time miners is part of a major shift in hands, transferring to US traditional financial institutions, investors, and ETFs,” Ki wrote. “So, I disagree with the claim that Bitcoin won’t do well anymore once the shift is complete and there’s no more liquidity coming in.”

Bitcoin’s Ownership Base Is Changing

Ki’s thesis centers on the composition of Bitcoin holders. He said that, for any asset, the long-term market setup depends heavily on the capital base behind it. If the new owners are institutions capable of attracting larger pools of liquidity over time, he argued, the transition could ultimately support another upward cycle.

“For any asset, what ultimately matters is who holds it,” he wrote. “If the people holding it now are entities that can bring in even greater liquidity going forward, then I think we can look forward to the next rally at any time.” The argument marks a notable framing of the current market. Bitcoin has seen intense sell pressure even as large institutional buyers have continued absorbing supply. Ki described the current distribution phase as “a massive change of hands,” pointing to a market where old holders are distributing while ETFs, Strategy and newer cohorts take the other side.

According to Ki, Bitcoin investors’ average cost basis is around $53,000. Historically, he said, bear markets ended only after price fell below the realized price. He previously thought that level would be difficult to revisit because of institutional inflows and Strategy’s limited selling. But he said recent price action indicates “unusually strong sell pressure.”

The scale of absorption is central to his concern. Since January 2023, Strategy has bought 711,206 BTC and sold only 32 BTC, removing a net 711,174 BTC from circulation, according to Ki. Since March 2024, when Bitcoin was also around $63,000, ETFs have absorbed 509,102 BTC while Strategy bought another 650,706 BTC. Together, that amounts to 1,240,808 BTC absorbed, yet price has returned to the same level.

For context, Ki noted that exchange reserves sit around 2.7 million BTC, while Satoshi Nakamoto is estimated to hold around 1 million BTC. In other words, more Bitcoin than Satoshi’s estimated stack, and nearly half of exchange reserves, has been absorbed without producing a sustained price advance.

Short-Term Buyers Are Maturing

Ki also pointed to a major shift inside the realized-cap structure. Bitcoin is at roughly the same price as two years ago, he said, but the holder base looks materially different. The 6-month-to-2-year cohort, representing investors who entered during this cycle, now accounts for 53% of realized cap, up from 15% two years ago.

That matters because, in Ki’s interpretation, short-term holders are gradually becoming long-term holders. He compared the current figure with the previous cycle, when Bitcoin bottomed after the same cohort reached 68% of realized cap. “Short-term holders are evolving into long-term holders,” he wrote.

The setup is not without risk. Ki reposted a separate observation from Julio Moreno stating that overall Bitcoin demand, including speculative and spot demand, is contracting at a monthly pace of 232,000 BTC. Moreno argued that the current correction is tied directly to Bitcoin demand conditions, not to equities, oil or macro indicators, noting that stocks are at all-time highs while manufacturing activity is improving.

Ki’s posts therefore present a split picture. On one side, current demand is contracting and sell pressure remains heavy despite historic institutional absorption. On the other, Bitcoin’s ownership base is migrating toward institutions and maturing newer cohorts that may provide a deeper demand base in the future.

Ki acknowledged that this transition comes with a cultural cost. “Honestly, in terms of rising asset value, I think traditional financial institution investors might provide an even stronger demand base than Bitcoin OGs,” he wrote. “Of course, in that process, some of the cypherpunk values may get diluted. I really regret that part too.”

For markets, the debate now turns on whether Wall Street’s growing share of Bitcoin ownership can offset the supply leaving older holders and miners. Ki’s conclusion remains constructive, but conditional on that transfer becoming a source of future liquidity rather than a ceiling on upside.

“Still, I believe there will definitely be another upward cycle for Bitcoin,” he wrote. “As an investor, I still believe in Bitcoin and think it’s worth waiting a bit longer.”

At press time, BTC traded at $62,696.

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XRP Price Falls To 4-Month Lows—Charts Signal Sell, On-Chain Data Turns Bearish

The XRP price slid on Wednesday to its lowest level in four months, hitting $1.14. The drop has contributed to a broader soft patch across crypto, and both chart analysis and on-chain indicators are now pointing to a more bearish environment for the altcoin. 

XRP Price Slips Below Key Averages

Market expert Sam Daodu, in a fresh breakdown of what’s driving the move, argued that there currently isn’t much for bulls to lean on. One of the most immediate issues is trend structure. 

According to Daodu, the XRP price is currently trading below its key moving averages — specifically the 7, 14, and 30-day averages — indicating that the short-term trend is bearish across multiple timeframes. 

He noted that the weekly exponential moving averages (EMAs) sit higher, clustered between $1.50 and $1.78, which has effectively capped every rebound attempt. That means even when XRP bounces, buyers have struggled to push it out of that upper resistance band.

The outlook also looks difficult when comparing the XRP price to the 200-day moving average, a level that Daodu sees as a dividing line between bullish and bearish regimes. 

The expert placed this key reference price at about $1.64, describing it as a “long climb back” from current trading levels at around $1.17 at the time of writing—underscoring how far the asset would likely need to recover to regain a more constructive trend.

Whale Withdrawals Hit 4-Year Low

On-chain activity adds another layer of concern for the XRP price. Whale withdrawals from Binance—often viewed as a quieter bullish sign because it can indicate large holders moving assets off exchanges to hold long term—have fallen sharply. 

Over the past 30 days, whale withdrawals are down to roughly 978 million XRP, which Daodu described as the lowest reading since 2021, essentially a four-year low. 

In the same period, CryptoQuant data indicates large-holder accumulation has stalled, implying that big holders aren’t adding with conviction during this decline.

With this in mind, Daodu’s bearish setup centers on three key price levels. The first is $1.14, which he frames as the near-term technical target. The second is $1.11, the low from February. 

The third is $1, aligned with the monthly Bollinger floor and treated as a potential endpoint if selling pressure persists. He also emphasized that if macro conditions don’t ease and whales keep showing reluctance to accumulate, these levels could become the next stops.

What The Recovery Depends On

Daodu also suggested that the path forward may hinge on three factors. The first is whether the XRP price can defend the $1.14. If it holds, the bullish case can still play out; if it breaks, he expects the move could extend toward $1.11 and potentially into the $1 area. 

The second factor is the CLARITY Act floor vote. A vote scheduled before the August recess would help clarify the regulatory picture, while no vote could deepen disappointment and add to existing macro pressure. 

The third factor is whale behavior again—specifically, whether whale withdrawals from Binance start climbing back above the current 978 million XRP reading over the past 30 days. Rising withdrawals above that level would indicate renewed accumulation by larger holders.

Even with these bearish indicators, Daodu cautioned that the drop isn’t necessarily rooted in XRP-specific fundamentals. He argued that the XRP price was pulled lower alongside the rest of the market, meaning the next phase likely depends on how those broader market conditions develop. 

Featured image created with OpenArt; chart from TradingView.com 

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Ripple Partner Thunes Unveils Development That Could Strengthen XRP’s Global Payment Narrative

Ripple’s global payments narrative may be gaining fresh momentum as one of its key partners, Thunes, unveils a new development that could further strengthen cross-border settlement infrastructure. As the demand for faster, cheaper, and more efficient international payments continues to rise, strategic partnerships like Thunes play a crucial role in expanding real-world utility across the XRP ecosystem.

Thunes Expands Its Role In The Global Payments Ecosystem

A recent announcement from Thunes could significantly strengthen XRP’s position in the global payments landscape. Analyst XFinanceBull on X has revealed that the company has officially launched real-time payment capabilities in the United States through a direct connection with a Tier 1 financial institution, enabling access to ACH, Same-Day ACH, and all real-time payment rails.

The development comes as Thunes continues to strengthen its international footprint. Thunes holds 50 Money Transmitter Licenses, allowing it to operate across every US state and territory, mirroring Ripple’s regulatory reach. Both companies now independently have institutional-grade access to US clearing systems.

Thunes network already spans 140 countries, supports 90 currencies, and connects to more than 12 billion mobile wallets, stablecoin wallets, and bank account endpoints. Following its expanded partnership with Ripple in September 2025, Thunes integrated blockchain and digital asset technology into its direct global network, leveraging Ripple payments to enhance its SmartX Treasury System.

Meanwhile, Thunes has plugged real-time US settlement into the same network that uses the Ripple blockchain payments infrastructure and XRP as a bridge asset. Over 140 countries can now send money to the US through rails connected to Ripple technology.

Ripple payments have near-global coverage with over 90 payout markets processing more than $70 billion in volume. This integration gives XRP a direct pathway into Tier 1 US banking through a partner that holds licenses in every state.

Institutional Interest Fuels XRP Ledger’s Next Phase Of Growth

The XRP Ledger real-world asset (RWA) ecosystem officially surpassed $3 billion in tokenized value in April. According to an analyst known as BankXRP on X, the incredible insights shared by Luke Judges, Partner Director at RippleX, at Istanbul Blockchain Week, break down exactly where the momentum is heading for real-world asset tokenization. Furthermore, the $3 billion milestone is driven by a highly diversified mix of assets, underscoring Ledger’s expanding institutional utility across multiple segments of finance.

Looking ahead, the next big wave of growth is expected to center around cash and cash-equivalent assets. Money market funds and US Treasury bills, alongside tokenized equities, are being viewed as prime targets for infrastructure disruption. The broader vision is moving toward a globally distributed financial system where regulated assets can trade seamlessly across asset classes through a unified order book.

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