News & Research

The Hyperliquid whale known as pension-usdt.eth added a 10,000 ETH ($16.8 million) short position nine hours ago, Lookonchain reported. The trader now holds a total short position of 60,000 ETH ($101 million). This whale is currently on a streak of 22 consecutive profitable trades, with cumulative profits exceeding $45 million.

BitMEX co-founder Arthur Hayes has denied on X reports that he purchased HYPE. The denial follows a report from Onchain Lens stating that Hayes had withdrawn 33,979 HYPE, worth $2.09 million, from Bybit.

BitMEX co-founder Arthur Hayes has withdrawn 33,979 HYPE, valued at $2.09 million, from Bybit, according to Onchain Lens. The receiving address now holds a total of 34,066 HYPE. Such withdrawals from exchanges are typically interpreted as a sign of accumulation.

Darryl Wang (Eugene Ng Ah Sio), a prominent trader known in the crypto community as 'The Dove,' said on his Telegram channel that he will be stepping away from the crypto market to focus on stocks for the time being. Wang stated that while he will continue to observe the crypto market from a distance, he will not return until an opportunity with a favorable risk-to-reward profile emerges, which he does not foresee in the near future. Regarding MicroStrategy (MSTR) and Michael Saylor, Wang commented that he believes the situation is starting to fall apart. He added that as long as MicroStrategy and Bitcoin remain so strongly interconnected, it is virtually impossible to approach Bitcoin from a buyer's perspective. Wang emphasized that while he does not know where the bottom is, he will no longer attempt to catch a falling knife by buying the dip.

Bitcoin's daily Relative Strength Index (RSI) has dropped to 15.5, its lowest level since the market crash caused by the COVID-19 pandemic in March 2020, according to an analysis by Cointelegraph. The outlet suggested that this oversold indicator could signal a rebound, noting that similar RSI readings in March 2020 and February 2026 were followed by rallies of 50% and 30%, respectively. The analysis concluded that if Bitcoin can hold the $60,000 support level, it has a high probability of reclaiming its 20-day exponential moving average (EMA) near $70,650 within a few weeks. Conversely, if the $60,000 support level is breached again, the price could fall to the mid-$50,000 range.

Strategy's (MSTR) recent sale of Bitcoin has contracted the market, and the company may need to increase its U.S. dollar reserves to restore investor confidence and ease concerns, JPMorgan said in a recent analysis reported by The Block. The bank noted that while Strategy described its sale of 32 BTC as a move to show flexibility to preferred shareholders, it created market anxiety. JPMorgan recommended that Strategy increase its dollar reserves, which currently cover only about six months of dividend payments. The analysis added that a market rebound in the second half of the year depends on Strategy clarifying its dividend plans and the passage of the CLARITY Act, though it gives the bill a less than 50% chance of passing this year. Other negative signals cited include this year's crypto market inflows of around $22 billion—half of last year's total—and BTC remaining below its mining cost of $87,000. However, the bank concluded that the current weak sentiment could also be a contrarian signal for an upward turn.

An anonymous whale borrowed 142 million USDT from Aave over the past 30 hours and subsequently purchased 87,680 ETH, according to Lookonchain. The whale's health factor, an indicator of collateral soundness, has dropped to 1.16. The position is estimated to be at risk of liquidation if the price of ETH falls to $1,354.51.

Chinese investment firm Longling Capital deposited 10,000 ETH, worth $15.68 million, to Binance approximately 10 minutes ago, AmberCN reported. Deposits to exchanges are often interpreted as a potential precursor to selling.

HTX has ceased trading services for World Liberty Financial (WLFI) and its stablecoin, USD1, according to Wu Blockchain. The move follows a decision by WLFI in May to freeze HTX-related on-chain addresses after the UK added the exchange to its sanctions list. HTX claimed the freeze was implemented without sufficient prior consultation or a clear legal basis, restricting some users' ability to trade their WLFI holdings. To protect its users, HTX suspended WLFI trading and halted USD1 deposits and withdrawals. The exchange also converted all USD1 balances on its platform to USDT and credited them to user accounts. HTX emphasized that the frozen addresses belong to regular users, not sanctioned individuals or the exchange itself, and has urged WLFI to lift the freeze.

Starknet (STRK) announced plans to deploy its v0.14.3 upgrade on the mainnet on June 22. The upgrade, which aims to improve network performance and adjust the fee structure, will first be implemented on the testnet on June 9. Key changes include the introduction of a dynamic Layer 2 gas base fee tied to the STRK price, faster block generation, and a reduction in the target L2 gas usage per block while maintaining the current maximum block size. Support for RPC version 0.8 will also be discontinued. Starknet urged developers to review the official pre-release documentation, highlighting that the update contains several incompatible changes.