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XRP long bets rise, analyst says it is too early to call a bottom signal

XRP has seen buying positions increase even as the broader market falls, raising concerns about near-term volatility. The trend is increasing the risk of a long squeeze, as estimated leverage rose while the price declined. Funding rates stayed mostly negative, but XRP failed to mount a clear rebound. An analyst said low volatility and high leverage could trigger a sharp move, with downside risk heavier, and that clearer bottom signals have yet to appear.

Crypto

CryptoQuant founder says bitcoin avoided fall into $20,000 range thanks to Strategy and ETFs

Ju Ki-young (주기영), head of CryptoQuant, said bitcoin could still be trading around $22,000 without buying by Strategy and spot bitcoin exchange-traded funds. He said they absorbed 1.24 million BTC sold by long-term holders over the past two years, though another user said the figure was 2.74 million BTC. U.S. spot bitcoin ETFs posted 13 straight sessions of net outflows through June 3, while institutional holdings fell 17 percent from the prior quarter.

Crypto

Bitcoin hits 9-week low, wiping out long traders as $1.83 billion liquidated in a day

Bitcoin fell to around $65,000, its lowest level in nine weeks, triggering heavy liquidations in crypto derivatives markets. More than $1.83 billion was liquidated across the market in a day, including $774.2 million in bitcoin long positions and $440 million in ether long positions, according to Coinglass data. Attention is focused on whether bitcoin can defend the key $60,000 support level, amid increased exchange inflows and rising volatility.