Technical Analysis

Shiba Inu's exchange-held supply has slipped to about 80.03 trillion SHIB, leaving the closely watched 80 trillion level within reach. Over the past day, reserves fell another 0.06% and netflow stayed negative at roughly -51.47 billion SHIB, while SHIB trades below key moving averages and RSI sits near 25.

Bitcoin traded near $61,100 on Wednesday, down 3% in 24 hours and 6.9% on the week, as a stronger May U.S. jobs report pushed expectations for higher rates and triggered broad risk-off selling. Gold also fell 2% to below $4,200 per ounce, while the 10-year Treasury yield rose to 4.54% and markets priced a 75.5% chance of rate hikes before year-end. The report showed 172,000 non-farm payrolls versus a 130,000 consensus estimate, with April revised up to 214,000.

Bitcoin has recently dropped below $60,000 to a new cycle low, reviving debate over whether the market is near a bottom. Grayscale says on-chain signals suggest BTC is technically undervalued, though not at the extreme discounts seen in past crash periods. The firm also flags the CLARITY Act's progress and leverage conditions as key factors that could shape near-term sentiment and liquidation risk.

SpaceX triggers widespread market reallocations on June 9, 2026, as details emerge surrounding its historic $75 billion public offering priced at $135 per share.

Billionaire investor Tim Draper says quantum computing poses a more immediate risk to traditional banks than to Bitcoin, arguing blockchain networks can recover by reverting to the last uncompromised block. The debate intensified as Moody’s and industry groups flagged post-quantum migration timelines, while Bitcoin was cited trading at $61,383 after nearly a 9% drop over the last 7 days.

Capriole Investments founder Charles Edwards says Bitcoin has moved back to its "Production Cost" level, a mining-based metric he cites as a key long-term valuation area. The indicator is currently around $62,650, close to BTC's spot price near $62,400, while network hashrate has recently slipped to about 837 EH/s after frequently touching 1,000 EH/s in May.

Cardano's ADA printed a multi-year low of $0.1485 on June 6, 2026 and was trading around $0.162 at the time of writing. Charles Hoskinson said crypto markets reflect an "existential crisis" and argued cutting trust intermediaries could unlock $120–$160B annually, while on-chain metrics showed dormant ADA beginning to move over the past 4–5 days. A potential spot ADA ETF decision window is cited from August 9, 2026, though no approvals have been confirmed.

Ethereum pulled back after peaking at $1,720, slipping below $1,620 and trading under $1,665 alongside the 100-hour SMA. The move included a break of a bullish trend line near $1,700, with support highlighted around $1,610 and $1,585. Resistance is outlined at $1,680 and $1,710, and a breakout above $1,710 could open a path toward $1,750 and $1,840–$1,850.

Bitcoin is trading above $62,000 after last week's sharp selloff, but an on-chain demand study argues the stabilization may be fragile. Combined spot and perpetual futures demand growth over 30 days has slid toward -650,000 BTC, a level seen only three times since 2019. Key price zones highlighted include $60,000–$63,000 support and $72,000–$74,000 resistance.

Bitcoin (BTC) rose 8.6% over the weekend, rebounding from $59.1k to $64.2k and marking a local high on Sunday, 7 June before revisiting the $64.2k resistance the next day. The move was supported by improving net taker volume, but realized profit/loss (7DMA) stayed negative for 22 straight days, suggesting continued stress. While a push toward $71.2k is technically possible, the higher-timeframe backdrop remains bearish and a bounce would not necessarily imply a trend reversal.