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Crypto

Bitcoin tests $60,000 support as dollar, yields pressure persists

Bitcoin has entered a deep undervaluation zone on on-chain indicators, but whether the $60,000 support holds depends on the dollar and U.S. Treasury yields, an analysis said. Glassnode cited a drop in the dollar index below 99 or a decline in the 10-year U.S. yield to the 4.2 percent range as conditions for a rebound. It said spot demand and corporate buying have weakened, while options markets price greater downside risk.

Crypto

NYDIG says bitcoin weakness not driven by single factor, cites five variables including AI and IPOs

Recent weakness in bitcoin and the broader crypto market reflects overlapping pressures rather than a single negative factor, an analysis said. NYDIG Global Head of Research Greg Cipolaro outlined five headwinds in a weekly report dated June 5, CoinPost reported. He cited competition for capital from AI, prospects for large IPOs, remarks on U.S. seizure of Iran-related crypto assets, a shift in Strategy’s role, and renewed quantum-computing risk.

Crypto

Bitcoin slips below $70,000 as short-term holders cut losses

Bitcoin fell below $70,000 for the first time since April, prompting assessments that it has re-entered a redistribution phase. Selling pressure strengthened as loss selling increased, exchange inflows rose and extreme fear spread. A short-term holder profit indicator fell below 1, suggesting newer investors may be driving sales. On-chain profit and loss metrics worsened and sentiment gauges dropped to extreme fear. Spot bitcoin ETFs recorded 11 straight sessions of net outflows.