Bitcoin slid to $70,000 on June 2, hitting a seven-week low as $276 million in leveraged long positions were liquidated. The drop came amid stronger risk-off sentiment tied to renewed U.S.-Iran military conflict, while derivatives markets showed large investors and market makers moving differently from the spot market. Top traders on Binance and OKX raised long exposure. Spot selling pressure was clear, and signs of capital outflows from crypto also emerged.

Potato derivatives prices surged about 705 percent in less than a month, becoming the top-performing asset in global financial markets and outpacing cryptocurrencies, U.S. equities and oil. Data cited by BeInCrypto showed Bitcoin and Ethereum gained far less over the same period. Markets have pointed to geopolitical risk and supply-chain concerns, with Euronews reporting potato prices rose sharply per 100 kg.