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Bitcoin falls below $61k amid geopolitical tensions and ETF outflows

Key takeaways

  • The oversold technical conditions may limit the pace of the decline, but the broader market structure remains bearish.
  •  The structure will remain bearish unless BTC can reclaim the $64,000 region and build momentum back above key moving averages. 

BTC Extends Losses Ahead of Key US Inflation Data Bitcoin (BTC) continued its decline on Wednesday, trading below $61,500 as renewed geopolitical tensions in the Middle East and persistent institutional selling kept risk sentiment subdued. 

Investors are also preparing for the release of the US Consumer Price Index (CPI) data for May, which could significantly influence expectations for Federal Reserve policy. 

Renewed Middle East tensions keep risk assets under pressure

Geopolitical concerns intensified after the United States conducted what it described as self-defense strikes against Iran following the downing of a US Apache helicopter in the Strait of Hormuz. 

Iran’s Islamic Revolutionary Guard Corps (IRGC) responded by saying it had targeted an airbase in Jordan hosting US forces, as well as locations in Kuwait and Bahrain, and warned of further escalation if US actions continue.

Market participants are closely watching the upcoming US inflation data. Economists expect the May CPI report to show another increase in consumer prices, partly due to elevated energy costs linked to the Middle East crisis. 

If inflation comes in hotter than expected, it could strengthen expectations that the Federal Reserve will maintain a hawkish stance and keep interest rates elevated for longer. 

Higher borrowing costs tend to reduce liquidity and make yield-bearing assets more attractive relative to risk assets, potentially adding further pressure on Bitcoin. 

Institutional demand remains weak. According to CoinGlass, US-listed spot Bitcoin ETFs recorded net outflows of $77.44 million on Tuesday, following $91.37 million in outflows earlier in the week.

These withdrawals extend a broader trend of persistent weekly outflows from spot Bitcoin ETFs, suggesting that large investors remain cautious amid macroeconomic uncertainty and geopolitical risks.

Bitcoin technical outlook: Bears retain control

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin maintains a clearly bearish near-term structure. 

Price remains well below all three major moving averages, while a former upward trendline near $73,004 has turned into resistance, reinforcing the view that the medium-term uptrend has been broken. 

The RSI near 38 indicates oversold conditions that could slow the decline, but it does not yet signal a confirmed reversal. 

The MACD remains in negative territory, although downside momentum appears to be moderating, increasing the risk of consolidation rather than an immediate recovery. 

BTC/USD 4H Chart

If the bulls regain control, immediate resistance is seen at the $64,004 level, with the $72,037 zone also posing as a strong supply zone.

No significant support levels are identified immediately below the current price in this setup, leaving BTC vulnerable to further downside if selling pressure persists. 

The post Bitcoin falls below $61k amid geopolitical tensions and ETF outflows appeared first on CoinJournal.

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Hyperliquid price slides 11%: What’s behind the sell-off and what comes next

  • The $54 support level is critical for the Hyperliquid price.
  • HYPE futures open interest has fallen to $5.86B, triggering a leveraged unwind.
  • Crypto Fear and Greed Index hit 15 as Bitcoin ETF outflows drove risk-off selling.

The Hyperliquid price has dropped 11% in 24 hours to $55.35, making it one of the hardest-hit assets in an already rough day for crypto.

While the broader crypto market is down, with Bitcoin falling 3.1% toward the $62,000 zone, HYPE’s losses were nearly four times larger; a pattern that tends to show up when a high-beta asset catches a deleveraging wave at the worst possible time.

The 7-day picture is even sharper. HYPE is down 23.7% over the past week and has now given back more than a quarter of its value from its all-time high of $75.48, set just eight days ago on June 2.

Why is the Hyperliquid price declining?

The clearest explanation for the size of the drop lies in the derivatives market.

Hyperliquid futures open interest has dropped to $5.86 billion, a signal that leveraged long positions were being closed rather than new short bets being placed.

Hyperliquid open interest

At the same time, spot volume climbed 12.5%, meaning actual selling and not just funding rate shifts were hitting the market.

Traders who had built up leveraged positions during HYPE’s run to its all-time high were exiting, and the exits compounded each other.

Interestingly, the price drop was not driven by any negative news specific to the Hyperliquid protocol itself.

Daily buybacks continued as normal, and there were no reports of exploits or technical failures.

It was a speculative unwind, not a fundamental breakdown.

But that unwind happened against a difficult macro backdrop.

The broader market continues to struggle

The Crypto Fear and Greed Index fell to 15, deep in extreme fear territory, down from 47 just a month ago, and total crypto market capitalisation dropped 2.24% in 24 hours to approximately $2.13 trillion.

Traders were pulling back ahead of the Federal Reserve’s June 16–17 meeting, with CME FedWatch data showing a 98.2% probability that rates would stay unchanged.

Geopolitical tension added to the pressure after President Donald Trump indicated the US would respond to Iran allegedly shooting down an American Apache helicopter near the Strait of Hormuz.

Adding to the backdrop, the Hyperliquid Policy Centre (HPC) filed a joint comment letter with venture firm Paradigm on June 9, pushing back on a proposed rule from FinCEN and the Office of Foreign Assets Control that would implement anti-money laundering and sanctions requirements for stablecoin issuers under the GENIUS Act.

The GENIUS Act was signed into law in July 2025, establishing a federal framework for payment stablecoins, with implementation expected by January 2027.

The April-proposed rule would require stablecoin issuers to maintain AML programs, file Suspicious Activity Reports, and have the technical capability to block, freeze, or reject transactions violating US law, across both primary and secondary markets.

HPC and Paradigm’s objection centres on the secondary market scope.

In permissionless blockchain environments, issuers can see wallet addresses and transaction amounts, but they cannot identify who is actually transacting.

As the filing put it: “Issuers are subject to strict liability for transactions they cannot meaningfully police.”

The groups propose keeping heavier compliance obligations on the primary market, where issuers have direct customer relationships, and want a narrower approach in secondary markets, with the Travel Rule applying to pseudonymous wallet transfers only when operators have a direct relationship with the parties involved.

They also suggested that smart contract-level compliance measures, including address blocklists and transfer restrictions, should be recognized as sufficient, and that money laundering provisions should not extend to protocol developers and on-chain infrastructure participants.

HPC and Paradigm warned that if issuers are held responsible for every secondary-market interaction on permissionless networks, the likely outcome is that regulated stablecoins retreat from DeFi entirely, leaving a gap that unregulated offshore alternatives would fill.

What to watch next for HYPE

The immediate technical focus is the $54 level.

AltcoinSherpa notes that a break below the $54 support level would remove a key area that has been holding HYPE’s price action in place.

If HYPE holds above $54, the token could settle into a consolidation range between $54 and $65.

According to AltcoinSherpa, a break below $54 opens the door to the $44–$54 gap, which would represent a significant further drawdown from current levels.

On the derivatives side, a stabilization or recovery in open interest, currently at $2.48 billion, would be a sign that the selling pressure is exhausting itself.

Notably, if open interest keeps falling while price drops, it suggests more unwinding is still ahead.

One potential volatility catalyst worth monitoring is the SpaceX IPO listing, which could draw trading activity to Hyperliquid’s markets and introduce a new source of volume.

But whether that translates into price support for HYPE specifically is less certain, but it could shift the attention and activity on the platform.

Bitcoin reclaiming $63,000 would also improve the broader altcoin environment.

However, until that happens, altcoins like Hyperliquid (HYPE) remain exposed to further downside if macro sentiment stays cautious heading into the Fed meeting next week.

The post Hyperliquid price slides 11%: What’s behind the sell-off and what comes next appeared first on CoinJournal.

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Stellar faces renewed selling pressure amid bearish derivatives data

Key takeaways

  • Stellar (XLM) remains under pressure despite a modest rebound following last week’s sharp correction.
  • Derivatives data shows a bearish bias, with long-to-short ratios below 1 and funding rates turning negative for the asset. 

Stellar (XLM) remained under pressure on Tuesday despite staging a modest recovery following last week’s steep market-wide correction. 

Weak derivatives positioning and mixed on-chain signals suggest that recent gains may be corrective rather than the start of a sustained bullish reversal.

Market data indicates traders continue to favor downside exposure, reinforcing a cautious outlook for both assets.

Derivatives markets signal growing bearish sentiment

Recent derivatives data from CoinGlass points to increasing pessimism among traders. The long-to-short ratio for XLM fell to 0.73 on Tuesday, approaching its lowest readings in more than a month. 

A ratio below 1 indicates that short positions outweigh long positions, highlighting expectations for further price declines.

The bearish bias is further reflected in funding rates. XLM’s funding rate turned negative on Monday and continued trending lower into Tuesday. 

Negative funding rates indicate that short sellers are paying long-position holders, a sign that traders are increasingly positioning for downside movement.

CryptoQuant’s market summary data presents a mixed but slightly negative outlook for XLM. Data shows elevated activity across both spot and futures markets, with increased retail participation and buy-side dominance. 

While rising buying activity may seem positive, overheated market conditions often precede short-term pullbacks, limiting the potential for a sustained recovery.

Stellar price forecast: Momentum begins to fade

Stellar is trading near $0.195 on Tuesday, holding above its 50-day and 100-day EMAs at $0.182 and $0.179, respectively.

While this positioning supports a neutral-to-slightly bullish short-term outlook, XLM continues to face resistance at the 200-day EMA near $0.198.

Technical indicators suggest momentum is cooling. The RSI sits near 45, indicating balanced market conditions. The MACD has slipped below the zero line, signaling weakening bullish momentum and raising the risk of another downside move if buyers fail to regain control.

If the rally resumes, immediate resistance lies at the 200-day EMA at $0.198, with the next upside target at $0.226

XLM/USD 4H Chart

However, if the sellers stay in control, initial support is seen at $0.185, with the next level at the 50-day EMA at $0.182.

A daily candle close below these levels would expose lower support zones at $1.79 and $1.43.

The post Stellar faces renewed selling pressure amid bearish derivatives data appeared first on CoinJournal.

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Worldcoin eyes further upside as open interest climbs above $449m

Key takeaways

  • WLD is down by more than 3% in the last 24 hours and could dip lower in the near term. 
  • Derivatives metrics remain supportive, with WLD’s Open Interest rising steadily alongside a mildly growing number of long positions.

Worldcoin (WLD) has declined by more than 3% on Tuesday, trading below $0.50 while holding above a cluster of key Exponential Moving Averages (EMAs). 

Strengthening derivatives activity and favorable technical indicators suggest the token may have room to extend its recent recovery in the near term.

Rising open interest signals growing market confidence

Data from CoinGlass shows that Worldcoin futures Open Interest (OI) has climbed to $406.86 million, up from $377.25 million recorded on Sunday. 

The metric has been trending higher since mid-May, indicating fresh capital is flowing into the market.

An increase in OI is typically viewed as a sign of growing trader participation and can reinforce ongoing price trends. In WLD’s case, the surge suggests investors are increasingly positioning for additional upside.

Adding to the bullish narrative, CoinGlass data shows the WLD long-to-short ratio has recovered to 1.01. 

A reading above 1 indicates that long positions slightly outnumber shorts, reflecting a market bias toward higher prices. Continued improvement in this ratio could further strengthen bullish sentiment.

Despite the positive derivatives backdrop, some cautionary signals are emerging. According to CryptoQuant’s market summary data, both spot and futures markets are experiencing elevated retail participation and increasingly heated trading conditions. 

The data also points to sell-side dominance, suggesting profit-taking activity could limit the pace of any further gains.

These factors may create short-term headwinds even as broader sentiment remains constructive.

Worldcoin price forecast: Bulls defend key support levels

Worldcoin was trading near $0.509 at the time of writing, maintaining a bullish technical structure above a dense cluster of EMAs.

The 23.6% Fibonacci retracement level near $0.504 has emerged as immediate support, sitting just below the current market price. 

Meanwhile, the 50-day, 100-day, and 200-day EMAs remain beneath the market, providing a strong support zone stretching from the upper-$0.30 range to the mid-$0.40 area.

Momentum indicators continue to favor buyers. The Relative Strength Index (RSI) stands near 53, indicating strong bullish momentum while remaining below overbought levels.

The Moving Average Convergence Divergence (MACD) indicator remains in positive territory, signaling that upward momentum is still intact.

If the downtrend continues, immediate support lies at $0.459 (200-day EMA). A daily candle close above this level could expose WLD to lower levels at the mid-$0.30 area near the 100-day and 50-day EMAs

However, if the rally resumes, initial resistance lies at $0.567, with the next target at $0.676 (38.2% Fibonacci retracement).

WLD/USD 4-hour chart

Worldcoin’s improving derivatives metrics, rising Open Interest, and bullish technical setup continue to support a positive near-term outlook. 

While elevated retail participation and selling pressure warrant caution, maintaining support above the $0.50 region could pave the way for a move toward the $0.567 and $0.676 resistance levels in the sessions ahead.

The post Worldcoin eyes further upside as open interest climbs above $449m appeared first on CoinJournal.

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Ethereum price forecast as BitMine buys 126,971 ETH: has ETH bottomed?

  • BitMine tripled its weekly ETH buy to 126,971 tokens, now holding 4.59% of supply.
  • Only 11% of ETH supply is in threefold profit, the lowest reading since Feb 2017.
  • A weekly close below $1,500 could push ETH toward the $1,000 support zone.

The Ethereum price dropped to a low of $1,522 last week before bouncing back within the $1,670–$1,712 range at the beginning of this week.

While the recovery is modest, the ETH price is still down 15.3% over the past seven days and 28.1% over the past 30 days. From its all-time high of $4,946 set in August 2025, the token has now shed roughly 66% of its value.

Yet while most retail traders were heading for the exit, BitMine Immersion made a huge purchase.

BitMine makes its biggest ETH buy of 2026

According to the circulated press release, BitMine (NYSE: BMNR) acquired 126,971 ETH last week, tripling its previous week’s purchase of 26,497 ETH.

That brings the company’s total holdings to 5,543,872 ETH, approximately 4.59% of Ethereum’s total supply.

BitMine has stated it intends to reach 5% ownership before the end of 2026, meaning it sits at 92% of that target today.

Currently, the company values its ETH position at roughly $9.04 billion.

Of that, 4,718,677 ETH, worth about $7.7 billion, is actively staked through BitMine’s MAVAN institutional staking platform at a current 7-day yield of 2.99%, generating a projected $230 million in annualized staking revenue.

Chairman Tom Lee has said that at full scale, staking rewards could reach $270 million annually.

Lee’s reasoning for the buy is straightforward. He said the price decline “does not reflect the strengthening of Ethereum’s fundamentals,” adding that the current environment represents the early stages of what he calls a “crypto spring.”

Lee also made a case for Ethereum’s longer-term relevance in the age of AI, arguing that as AI systems become more capable, demand for hardened, decentralized infrastructure will grow, and that Ethereum is positioned to benefit.

What the Ethereum price charts and on-chain data are saying

Despite the institutional buying, the technical picture for the Ethereum price remains bearish.

On the daily chart, ETH is trading well below its 20, 50, and 100-day exponential moving averages (EMAs), which are clustered between $1,874 and $2,178.

The 14-day RSI sits around 27, and the Stochastic oscillator is at 26, both in oversold territory, though neither has confirmed a reversal.

ETH price chart with RSI and EMAs

The MACD reads -143.07, sitting below its signal line of -118.76, while the Aroon Oscillator is at -78.57, indicating sellers still have the upper hand.

Ethereum price chart

The on-chain data reinforces just how stressed this market is.

Only about 11% of Ethereum’s supply currently sits at a threefold profit margin, the lowest reading since February 2017.

Crypto analyst Ali Charts flagged this exact condition, posting on X that ETH trading below the 0.8 MVRV pricing band is a “high-probability long-term accumulation zone.”

He also identified a TD Sequential buy signal, which can suggest seller exhaustion, though it does not by itself confirm a trend reversal.

Analyst Ash Crypto drew a parallel between the current price action and Ethereum’s June 2022 breakdown, when the Ethereum price collapsed to $880 before bottoming out and recovering.

He noted the current decline represents approximately 68% from the August 2025 peak near $4,953.

Ash’s view is that if the ETH price holds the $1,500 level on a weekly closing basis, a similar recovery pattern could follow.

However, he cautioned that a weekly candle closing below $1,500 could expose the next major support zone around $1,000.

On the ETF side, the picture is mixed. The US spot Ethereum ETFs saw $540 million in net outflows throughout May, followed by an additional $168 million in early June.

That said, June 8 marked a reversal, with $82.37 million in daily net inflows recorded, bringing total cumulative inflows to $11.28 billion with aggregate net assets standing at $9.36 billion.

Ethereum has also recorded roughly $66.3 million in liquidations over the past 24 hours, with $33.8 million on the long side, reflecting ongoing volatility and the risk that any short-term bounce remains fragile.

Ultimately, the seven-day trading range of $1,522–$1,980 captures just how wide the swings have been and whether the $1,500 zone holds, and whether BitMine’s conviction buy marks a turning point remains to be seen.

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