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WEEKLY SNAPSHOT
Note: Last Price mentioned in Weekly Returns table are as observed on 8th June, 11:59 AM IST and in the Top 3 Alt Coins table are as observed on 9th June, 11:59 PM IST.
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CRYPTO NEWS
1. Bitcoin Suffers Its Sharpest Correction of 2026 (June 4–6)
Bitcoin briefly broke below the critical $60,000 level, triggering widespread selling across the crypto market. The move was fueled by a combination of ETF outflows, leverage unwinds, and macroeconomic pressure, making it one of the largest corrections of the current cycle before BTC recovered back into the low-$60K region.
Source: TradingView News
2. Over $1.6 Billion in Crypto Positions Liquidated (June 5–6)
The market downturn led to one of the largest liquidation cascades of the year, wiping out more than $1.6 billion in leveraged positions. Long traders were hit hardest as BTC and ETH broke key support levels, accelerating downside momentum across the market.
Source: CoinGlass
3. Strong US Jobs Report Pushes Back Fed Cut Expectations (June 6)
The US economy added 172,000 jobs in May while unemployment remained at 4.3%, reinforcing the “higher-for-longer” interest rate narrative. Following the data release, Treasury yields rose and risk assets, including cryptocurrencies, came under pressure.
Source: US Bureau of Labor Statistics (BLS), Wall Street Journal
4. Bitcoin ETF Outflows Remain a Major Headwind (June 2–6)
Spot Bitcoin ETFs continued to experience significant outflows, highlighting weak institutional demand during the correction. While flows showed some signs of stabilization toward the end of the week, ETF activity remained one of the biggest factors influencing Bitcoin sentiment.
Source: Farside Investors, The Block
5. Strategy’s First Bitcoin Sale in Years Draws Attention (June 5)
Strategy sold 32 BTC, marking its first Bitcoin sale in several years. Although the amount represented a tiny fraction of its total holdings, the move attracted significant market attention due to Strategy’s status as the largest corporate Bitcoin holder.
Source: Strategy Filings, Grayscale Research
6. SpaceX IPO Emerges as a Key Market Narrative (June 4–8)
SpaceX officially launched its IPO roadshow, becoming one of the most discussed events across financial markets. Traders debated whether large-scale equity offerings and renewed interest in traditional markets could temporarily divert capital away from crypto assets.
Source: Reuters, CNBC, Bloomberg
7. AI Trade Loses Momentum After Broadcom Disappoints (June 4)
Broadcom reported strong quarterly revenue but softer-than-expected AI chip guidance, leading to a sharp decline in its share price. The move raised concerns that the AI-driven equity rally may be cooling, impacting broader risk sentiment across growth assets.
Source: Broadcom SEC Filing, Reuters
8. Middle East Tensions Become the Dominant Macro Driver (June 7–8)
Escalating tensions between the US and Iran pushed oil prices higher and increased fears of supply disruptions. The resulting rise in energy prices added inflation concerns to global markets, creating additional pressure on both equities and cryptocurrencies.
Source: Reuters, Wall Street Journal
9. Dollar Strength and Rising Yields Pressure Crypto (June 6–8)
A stronger US dollar and rising Treasury yields created a tougher environment for risk assets. The move reflected growing expectations that interest rates could remain elevated for longer, reducing liquidity support for crypto markets.
Source: Wall Street Journal, Trading Economics
10. Ethereum Underperforms Bitcoin During the Selloff (June 4–8)
Ethereum saw a deeper percentage decline than Bitcoin during the correction, with the ETH/BTC ratio weakening further. Softer ETF demand and reduced risk appetite contributed to ETH’s relative underperformance.
Source: TradingView Data
11. Markets Shift Focus to Inflation and ETF Flows (Week Ahead)
With the jobs report behind them, traders are now focused on upcoming inflation data, ETF flow trends, and geopolitical developments. These factors are expected to determine whether Bitcoin can extend its recovery or retest recent lows.
Source: CME FedWatch, Reuters
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Strong call writing is concentrated near the key resistance level of 75,000, while put writers remain largely absent from the market. A Put-Call Ratio (PCR) of 0.11 indicates extremely bearish sentiment and reflects a highly negative market outlook.
OI Analytics for the upcoming week: ETHUSD
Significant call writing is concentrated at the $2,000 resistance level, while put writers remain active around the $1,300 support zone. A Put-Call Ratio (PCR) of 0.27 indicates bearish market sentiment, suggesting a cautious outlook for the coming week.
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USA WEEK AHEAD (IST) [HIGH IMPACT DATA]
Tuesday, June 09 - 7:30 PM: Existing Home Sales
Wednesday, June 10 - 6:00 PM: Core Inflation Rate, Inflation Rate (MoM)/(YOY)
Thursday, June 11 - 6:00 PM: PPI (MoM)
Friday, June 12- 7:30 PM: Michigan Consumer Sentiment Prel PPI (MoM)
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Delta Exchange Team