Shiba Inu has experienced yet another notable sell-off, pushing toward new local lows and breaking below a multi-month ascending channel. The meme coin finally gave up after weeks of steady decline, prompting many investors to wonder if SHIB has finally reached its lowest point.

Technically speaking, there are indications that the market might be getting close to an exhaustion point. The Relative Strength Index (RSI), which has dropped below the crucial 30 threshold and is presently in oversold territory, is the most prominent indicator. These readings have historically suggested that bearish sentiment may be waning and that selling pressure has grown excessive. Though not always complete trend reversals, relief rallies have frequently preceded previous oversold conditions on SHIB.

A significant percentage of weak hands may have already left the market, according to price action. A wave of liquidation-driven selling was sparked by SHIB's recent break beneath the lower boundary of its ascending channel, which accelerated losses. Instead of signaling the start of a decline, such breakdowns often indicate its end.

However, oversold conditions should not be interpreted by investors as proof that a bottom has already been reached. Volume is a major concern. Although there was a spike in activity due to the breakdown itself, the first attempt at recovery was made with comparatively low participation.

Strong buying volume is usually necessary for sustainable recoveries in order to verify that fresh demand is entering the market. Any recovery without that confirmation runs the risk of turning into a short-term relief rally rather than the beginning of a long-term uptrend.

Also, the general trend is still negative. The 50-day, 100-day, and 200-day moving averages are all sloping downward, and SHIB is still trading below them. Bulls are still at a disadvantage until the asset regains at least the 50-day moving average in the vicinity of $0.0000054-$0.0000055.

After a significant decline from its recent all-time high area around $76, Hyperliquid's native token HYPE is exhibiting signs of renewed strength. Buyers have returned to the market after an aggressive sell-off that momentarily drove the asset below $60. This has led to a significant recovery. As of this writing, HYPE has shown one of the best daily performances among the major cryptocurrency assets, recovering toward the $65 range.

After an incredible rally that saw HYPE rise from below $30 in February to more than $75 in early June, there was a recent correction. The most recent decline seems to be the first significant test of bullish conviction since the trend accelerated, and such swift advances seldom happen without periods of profit-taking.

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Technically speaking, the rebound is taking place in a key area. Buyers are still active on weakness, as evidenced by the asset's quick recovery from a brief dip below its 21-day moving average. More significantly, HYPE keeps trading well above its 50-, 100-, and 200-day moving averages. Shorter-term averages are positioned above longer-term ones, and their alignment is still very bullish.

Additionally, the overall uptrend is still in place. HYPE has adhered to an upward trendline since late February, which keeps pushing the market higher. Although that structure was briefly threatened by the recent correction, buyers were able to protect the trend before a more serious breakdown could occur.

Additionally, momentum indicators lend credence to the recovery story. The Relative Strength Index is currently in the mid-50s after cooling from earlier overheated levels. Compared to the overbought readings observed during the run toward all-time highs, this position is better for the market because it leaves room for another leg higher without experiencing momentum exhaustion right away.

Right now, the $65-$66 range is the crucial level that traders should keep an eye on. A clear breakout above this area might pave the way for a retest of $70 and, ultimately, the most recent peak, which was close to $76.

After one of the biggest drops of the current market cycle, Bitcoin seems to be regaining its footing. The biggest cryptocurrency is currently trying to stabilize around the psychologically significant $60,000 level after a sharp decline that sent Bitcoin from above $80,000 to almost $60,000 in a matter of days.

It appears that sellers may finally be losing momentum based on the recent price action. Bitcoin has started to establish a base around $60,000-$63,000 after a series of liquidations and panic-driven sales. The market has at least been able to stop the freefall that dominated trading during the previous week, even though it is too early to declare a clear bottom.

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Momentum indicators provide one of the most compelling arguments for stabilization. The Relative Strength Index (RSI) has reached levels not seen in months, plunging far into oversold territory. In the past, readings below 30 have frequently shown that the market is open to a relief rally and that selling pressure has run out.

The stabilization thesis is further supported by volume behavior. A significant increase in trading volume coincided with the breakdown toward $60,000, indicating widespread market participant capitulation. Near local bottoms, these volume explosions often happen as weaker holders scramble to get out of positions. Before choosing their next major course, markets frequently go through a consolidation phase after this supply is absorbed.

Bitcoin is still in a technically precarious situation despite the new indications of stability. The asset is trading below its 50-, 100-, and 200-day moving averages, all of which are still pointing downward. Furthermore, BTC recently broke below an upward trendline that had sustained price movement since March, indicating a decline in market structure. Any attempt at recovery will therefore encounter significant overhead resistance.

Cryptocurrency adoption in the United States has remained relatively stable, according to the latest survey released by the Pew Research Center. 

Roughly one-in-five U.S. adults (19%) have invested in or used digital assets.

This 19% figure is roughly on par with the 16% adoption rate recorded in 2021. 

At the same time, there is a significant political divide when it comes to crypto 

Historically, cryptocurrency use was evenly split across political affiliations. Before this year, Republicans and Republican-leaning independents were just as likely as Democrats and Democratic leaners to say they had engaged with crypto.

However, the new survey reveals that Republican crypto use has ticked up significantly from 16% in 2021 to 22% today. Meanwhile, usage among Democrats has held entirely steady at 17%.

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The current administration has vocally set out to make America the “crypto capital of the world,” which is why the data is now entirely surprising. 

Young men continue to stand out for their use of crypto. A staggering 38% of men ages 18 to 29 say they have ever invested in, traded, or used cryptocurrency, compared to just 15% of women in the exact same age bracket. This trend holds for men ages 30 to 49 (40% report using crypto). 

Wealthier Americans are also adopting the asset class at higher rates. About one-in-four adults (27%) in upper-income households have invested in or used crypto. 

A senior official is indicating that critical progress is being made on the Digital Asset Market Clarity Act (H.R. 3633), a major piece of U.S. legislation aimed at establishing a comprehensive regulatory framework for digital assets. 

Patrick Witt recently took to the X social media platform to share an optimistic yet urgent update on the bill's status behind closed doors.

"Big week ahead for Clarity," Witt stated. "The work has continued in earnest behind the scenes since the Banking markup. The issue set has narrowed, and good faith offers are being put forward to close the gap. But time is of the essence."

The behind-the-scenes negotiations Witt referenced follow the bill's successful advancement through the Senate Banking Committee on May 14. 

The committee passed an amended version of the bill in a 15-9 bipartisan vote, with two Democrats crossing the aisle to join Republicans. 

The bill was subsequently reported to the full Senate and placed on the Senate Legislative Calendar under General Orders.

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Recent developments and negotiations have primarily focused on resolving specific sticking points stemming from the Senate Banking markup. 

These include finalizing language surrounding decentralized finance (DeFi) safe harbors and negotiating stablecoin yield provisions. 

According to recent updates, lawmakers have been nearing a resolution on stablecoins that would limit holding-based rewards while still allowing for activity-based ones.

U.S. Senator Cynthia Lummis has been tirelessly advocating for the bill's immediate passage, recently warning that the legislative window for a regulatory overhaul will likely slam shut until 2030 if Congress fails to act right now. 

If the legislation does not clear both chambers before the end of the current congressional term, the entire legislative process might be completely reset.

Despite passing the U.S. House of Representatives in July 2025 with strong bipartisan support, the Clarity Act still faces significant obstacles. 

Canadian mining billionaire and prominent gold advocate Frank Giustra has once again taken aim at the cryptocurrency community's most optimistic price targets. 

The clash began when cryptocurrency commentator Chris Millas took to the X social media platform to express his frustration with market skeptics. "People will believe in aliens but they won't believe that $BTC can hit $150-$200K in 2026," Millas wrote.

Giustra, never one to shy away from bashing digital assets, quickly fired back with a stinging rebuttal: "There is more evidence of aliens than if bitcoin hitting $200k."

The billionaire recently made headlines for fiercely criticizing Ark Invest CEO Cathie Wood over her staggeringly high price targets.

Wood had reiterated her ultra-bullish outlook, projecting a base-case price target of $730,000 and a staggering bull-case scenario of $1,500,000 by 2030, framing the asset as an essential "insurance policy" against currency debasement.

Giustra, a staunch advocate for physical gold, dismissed her market commentaries as completely delusional. "These commentaries are embarrassing to watch," Giustra stated. "BTC ain’t going to $1mill."

When it comes to Unidentified Anomalous Phenomena (UAPs), the government's official term for UFOs, here is, in fact, a substantial and growing body of highly compelling, verified evidence.

Public proof of extraterrestrial biological entities remains elusive, but the existence of physical crafts demonstrating physics-defying technology is now a matter of congressional and military record.

The most compelling evidence stems from the U.S. military itself. In 2020, the Pentagon officially declassified three videos captured by Navy F/A-18 Super Hornets between 2004 and 2015.

The 2004 USS Nimitz encounter remains the gold standard of UAP evidence. Commander David Fravor, a highly decorated Navy pilot, visually engaged a "Tic Tac" shaped craft off the coast of Southern California. 

The evidence escalated significantly in 2023 during a historic congressional hearing. David Grusch, a former highly cleared U.S. intelligence official and member of the Pentagon's UAP Task Force, testified under oath that the U.S. government is operating a multi-decade crash retrieval and reverse-engineering program for non-human spacecraft. 

The XRP Ledger (XRPL) network is set to receive a major security upgrade, shifting to nuclear-grade formal verification technology, according to a technical breakdown by RippleX contributor Vito Tumas. Reacting to the news, XRPL Foundation community lead Vet called it a transformation into "Fortress XRP". 

The XRP Ledger has a completely different architecture compared to other blockchains like Ethereum, as the main financial tools here are embedded directly into the layer-one code, meaning into the "heart" of the network. This makes transactions much faster, but it also raises the stakes because any hidden error inside the network core could put the entire ledger and billions of dollars in user funds at risk.

Right now, two major network upgrades are getting ready for launch—Lending Protocol and Single Asset Vaults—and there's a difficulty with these, which is not the amount of code, but mathematical precision. In long chains of loans and interest calculations, the smallest rounding error can grow like a snowball and lead to loss of funds, which means the code must be perfect before release.

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To predict every possible loophole for hackers, Vito Tumas and the Common Prefix team are introducing a method based on strict mathematical proofs. The process works like this:

• Creating an ideal model: Developers build an exact digital copy of the protocol that describes only its correct and lawful behavior.
• Stress testing: A special algorithm checks this model for the impossibility of critical failures. It searches for an answer to the question: Is there even a theoretical chance in the code to create extra XRP or steal someone else's funds?
• Real-time "Oracle" control: In real time, all actions of the actual blockchain are checked against this benchmark, with the slightest deviation in results meaning the transaction is instantly blocked.
• AI assistance: Artificial intelligence takes over the fast routine review of code, while mathematics guarantees the absolute security of the architecture.

In addition, the upgrade changes the rules of network governance, and mathematical proofs will become the main criterion for whether updates are ready. This is necessary to turn XRPL into a digital fortress for attracting major banks and funds that need full security guarantees.

Barstool Sports founder Dave Portnoy called on Michael Saylor, the head of the largest Bitcoin treasury company, MicroStrategy, to increase the scale of the company's Bitcoin purchases, posting the meme "MORE!" as a reaction to the official announcement that MicroStrategy had acquired 1,550 BTC more over the past week. 

Portnoy's post coincided with his own admission last week that he lacked free cash to continue supporting his portfolio on his own amid the prolonged market decline.

https://t.co/2v5dcNqFav pic.twitter.com/qqliu2QtKJ

— Dave Portnoy (@stoolpresidente) June 8, 2026

For Dave Portnoy, who compared the current situation on exchanges to chaos at a racetrack, large institutional deals remain the main factor behind a possible recovery of his positions. 

His relationship with crypto, which the businessman himself described as an attempt to mix water with oil, has led to his capital being locked in losing positions, while his net losses, including positions in Bitcoin and XRP, already amount to millions of dollars.

On the spot market, Portnoy's large Bitcoin position remains under strong pressure as the price fluctuates around $63,000. The situation is worsened by his XRP purchase, made in late January near the local peak of about $1.70, while the asset is currently trading around $1.17.

Moreover, his attempt to diversify the portfolio by buying MSTR shares a week ago led to that position falling by another 20%, according to the businessman himself. Portnoy thus confirmed that he had fully exhausted his free liquidity during the intermediate stages of the market decline and had lost the ability to defend his assets.

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MicroStrategy's purchase of 1,550 BTC was made at an average price of $65,332 amid the broader market decline. This move became an important signal for industry participants, as one week earlier the company, which holds more than 800,000 BTC, broke its "never sell" rule for the first time in three years.

Yes, the earlier sale of 32 BTC to pay dividends triggered a wave of panic and accelerated the decline in prices, but the new purchase exceeded the size of that sale by almost 50 times. Interestingly, despite the general pessimism, Dave Portnoy also announced at the time that he intended to hold his positions without realizing losses.

The main psychological reference point for Portnoy, according to him, remains the long-standing personal promise of former Twitter CEO Jack Dorsey that Bitcoin will inevitably reach $1 million.

About a day after Michael Saylor, the chairman of the world's largest Bitcoin treasury firm, MicroStrategy, teased the crypto community with mysterious posts about its next move, Saylor has finally executed a major Bitcoin buy. 

While the posts had sparked curiosity about whether the firm was ready to buy heavily on Bitcoin's dip or not, considering its massive $12 billion paper loss, the buzz is over as Saylor announces a 1,550 BTC purchase on Monday, June 8.

According to an official statement disclosed by Saylor, MicroStrategy has purchased 1,550 BTC for about $101 million to boost its Bitcoin holdings.

The purchase, which was made at an average price of $65,332 per BTC, happened between June 1 and June 7, when the market was experiencing extreme volatility while Bitcoin retested $59,000, reaching its year-to-date low.

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Despite being underwater, MicroStrategy's Bitcoin holdings have continued to expand, now reaching 845,256 BTC after the latest purchase.

While Saylor is widely known for his strong conviction in Bitcoin regardless of market conditions, the latest purchase has sparked discussions as MicroStrategy is still sitting on a paper loss of about $12 billion, yet it is still buying.

As usual, the massive Bitcoin purchase from Saylor has once again drawn criticism from longtime Bitcoin critic Peter Schiff, who has described the move as "damage control."

In his statement, Schiff pointed out that while MicroStrategy acquired 1,550 BTC for $101 million, it simultaneously increased its U.S. dollar reserves by $100 million.

In his assertions, Schiff claimed that MicroStrategy has decided to raise capital by selling its stock rather than selling a portion of its Bitcoin holdings because the company remains unwilling or unable to reduce its BTC holdings to fund its operations.

Shiba Inu lead ambassador Shytoshi Kusama broke weeks of silence on X following an update to his bio. Kusama's last post on X was on May 13, where he only tagged Shiba Inu developer Kaal Dhairya.

Following a brief silence on X, Kusama has just updated his bio to suggest his current focus. His bio now reads: "Pure Focus: AI App/site : R.OS Finishing touches. Beta website complete. Final bug pass."

Kusama suggests a "pure focus" on AI App/site; this might pertain to his independent AI project, although not specifically stated.

In a February livestream, Shytoshi Kusama unveiled a new AI-powered relationship platform which aims to help couples identify patterns, friction points, and long-term compatibility risks.

The Shiba Inu lead ambassador also highlighted a few details in his bio: "R.OS Finishing touches," while adding that the "Beta website was complete." "Final bug pass," Kusama stated, which might suggest his endeavor is in the final stages towards a beta launch and is now being vetted for bugs.

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Kusama's X location remains unchanged, being "Backlog, Marketing, Positioning."

Kuro, a Shiba Inu community member, reported in a tweet that SHIB is now tradable on Mercari, one of Japan's largest flea market apps. Thanks to the partnership between Coincheck and MELCOIN, trading of 12 tokens including SHIB has been enabled on Mercari.

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Access to SHIB expands on a platform used by 23 million people monthly, a positive boost for SHIB utility.

In a recent status update, Shibizens informed the crypto community that the Shib.io website, the official gateway to the Shiba Inu ecosystem, is now fully back online. In a Saturday update, Shibizens flagged an issue with the SHIB website whose fix was being implemented.

Now, the technical issue has been resolved by the Shiba Inu developer team, and the website is operating normally and securely. Shibizens sends a security reminder to the Shiba Inu community, urging them to be cautious of fake links and phishing attempts that may appear on social media.

An unknown large Shiba Inu (SHIB) investor has broken a month-long pause by withdrawing 400 billion SHIB tokens from the Gnosis Safe Proxy smart contract (0xD13). 

According to data from Arkham Intelligence, the transfer instantly turned the transit address "0xf9905...f64f5", which previously held only negligible balances of third-party tokens, into a large operational wallet with a balance of $1.89 million, the current estimated value of the unknown investor's new SHIB reserves.

A one-time withdrawal of funds from the corporate multisig infrastructure of Gnosis Safe to a fresh external address changes the logic of asset ownership. In the on-chain practice of the crypto market, such an action is rarely taken for passive holding, since the coins are moved from a secure storage setup with distributed approvals to a wallet controlled by a single private key.

The on-chain history shows that this investor acts cyclically, with similar bursts of SHIB accumulation on this address recorded exactly one and two months ago, followed each time by thirty days of complete silence.

The local timing of the transaction points to a targeted buyout of price consolidation. At the moment the 400 billion coins were credited, SHIB was trading at $0.00000472 while holding a minimal daily gain, and the wallet's portfolio structure confirms that it is isolated for a specific market task. 

Now, the meme coin accounts for 99.4% of the total asset value, while accompanying positions in Ethereum (9.99 ETH worth $16,600), SKYA ($52), and BASED ($5.70) play a technical role or represent residual balances from previous swaps.

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Since Arkham has not yet recorded a transfer of the tokens to hot wallets of centralized exchanges such as Binance or Coinbase, there is no direct pressure on market order books. 

Therefore, the current capital allocation can be interpreted either as preparation for a private over-the-counter (OTC) deal without participation in the exchange order book, or as the formation of a local support level by a large market maker accumulating liquidity at current price values.

A record narrowing of Dogecoin's (DOGE) weekly price range not seen since autumn 2023 has been recorded for the meme coin, coinciding with a drop to 2-year lows. The compression reached its peak exactly four days before the SpaceX IPO scheduled for Friday, June 12. 

While retail market participants are closing positions en masse, U.S. spot ETFs and institutional capital have started a coordinated buyout of the dip in anticipation of a price breakout. 

The main precursor of a trend change was the extreme narrowing of the Bollinger Bands on the weekly timeframe. The current range between the lower and upper boundaries of the corridor is only 35%, while the upper band sits at $0.111, forming the key resistance zone.

The chart compression coincided with pressure from the broader market downtrend. From June 1 to June 7, the DOGE price fell by 14%, closing the week at $0.0862. During the sell-off, the coin briefly dropped to $0.07, updating its low since February 2024.

The fall in the spot price led to a total unloading of margin positions, as by June 8, open interest (OI) in Dogecoin had fallen to $1.04 billion, marking an almost sixfold drop compared with the peak of $6.01 billion recorded in October 2025. The removal of excessive leverage from the market reduces the risk of cascading liquidations and opens room for a fast return to $0.1.

The current speculative vacuum overlaps with preparations for Friday's SpaceX IPO, which creates two opposite scenarios for investors.

• Bearish scenario: the public debut of the aerospace giant could temporarily pull capital away from risky digital assets. Given that SpaceX holds 18,712 BTC on its balance sheet, its shares will become a direct, regulated alternative to crypto exposure for major players.
• "Moon" scenario: long-term investors are focused on Elon Musk's February statement confirming that Dogecoin would be officially used to fund the mission to the Moon. For this reason, SpaceX's success remains a buy signal for DOGE among the retail sector.

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While short-term players gave in to panic, institutional capital started increasing positions. According to SoSoValue, from May 1 to June 8, 2026, cumulative net inflows into U.S. spot Dogecoin ETFs rose from $9.63 million to $12.44 million.

This 29.17% spike in inflows, hidden from the wider public, proves that large capital is systematically buying the dip. Smart money is pricing in expectations that the breakout from the Bollinger technical wedge will happen to the upside immediately after SpaceX shares begin trading this Friday, making $0.1 a legitimate target for the nearest move.

The number of active accounts on the XRP Ledger dropped from almost 20,000 to roughly 7,800 in a single day, indicating a dramatic drop in network activity. According to those numbers, the decline amounts to about 61%, a sharp decline that would typically give rise to concerns about declining investor interest and adoption.

The decline's context, however, raises the possibility that things are not as dire as they first appear. Temporary events such as speculative trading waves, token launches, arbitrage activity, or brief spikes in network usage are frequently responsible for large spikes in active addresses. After those events, activity usually returns to more sustainable levels. Therefore, rather than a structural breakdown of the XRP ecosystem, the current decline might be an indication of normalization.

The market's response is what makes this interpretation so intriguing. The price of XRP was already under pressure prior to the network metric rolling over, despite the decline in active accounts. A multi-month descending triangle formation that had been forming since March was recently broken by the asset. 

A wave of selling pressure spread throughout the market as a result of the breakdown, which forced XRP below the crucial $1.30 support zone. Although there was a brief recovery, the asset is still below the previous support level, which is now acting as resistance.

Technically speaking, broader market conditions rather than network fundamentals alone seem to be the main cause of XRP's weakness. Volume tells a similar story. Trading activity significantly increased as a result of the breakdown, suggesting that many players hurried to sell their positions at the same time. These spikes frequently occur during capitulation events, when panic selling intensifies. 

In the past, there have been several times when XRP's on-chain activity drastically decreased, but the price eventually rebounded after speculative excesses were removed from the market. Overly high active-address counts are not always indicative of bullishness; occasionally, they may indicate unsustainable speculation that needs to cool off.

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For the time being, investors should keep an eye on whether active accounts continue to decline or stabilize around current levels. A steady user base of 7,000-8,000 accounts would indicate that the recent decline was mostly caused by transient activity vanishing from the network.

The overall picture is more complex, even though the headline figure of a 60%+ decline in active users sounds concerning. The decline is far less bearish than it first appears because the XRP Ledger might just be returning to a healthier baseline following a period of increased activity.

Zcash is up 10% in the last 24 hours to $426 following what the founder of ZODL (Zcash Open Development Labs) Josh Swihart called the most consequential network upgrade in the coin's history.

In a tweet, Swihart reflects on a defining moment for Zcash when he was informed of the issue that would lead to the remediation of the Orchard vulnerability and the rapid coordination of the most consequential network upgrade in Zcash history.

https://t.co/9gaPMvTc9G

— Josh Swihart 🛡 (@jswihart) June 7, 2026

On May 29, security researcher Taylor Hornby disclosed a critical bug in Zcash's Orchard shielded pool. The flaw, present since Orchard launched on May 31, 2022, would allow an attacker to generate counterfeit ZEC within the pool without leaving any visible on-chain signature. Hornby found it using Anthropic's Opus 4.8 model, running inside a custom audit-agent framework he built.

Zcash rebounded after hitting a low of $250 on June 5. At a current price of $426, Zcash is up 70% from this low after developers proposed a fix for a critical counterfeiting bug in its privacy-focused Orchard pool.

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Shielded Labs, the Zcash Foundation, and ZODL proposed Ironwood, an upgrade that would launch a new shielded pool. Anyone running a node could then sum balances across pools and verify the supply is correct.

The Ironwood proposal would move users to a new, repaired privacy pool and let anyone running Zcash software verify that no more than the correct amount of ZEC exists.

According to Swihart, Zcash shipped core updates including the emergency NU6.2 network upgrade (zcashd v6.20.0) at mainnet block 3364600 (carried out at 03:00 UTC, Wednesday, June 3), remediating the privately disclosed Orchard circuit flaw in halo2_gadgets.

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A parallel time-critical zcashd v6.12.5 was also shipped in coordination with a soft fork at mainnet block 3363426 (carried out at 02:00 UTC, Tuesday, June 2), fixing a Coinbase value-balance desync that could crash nodes on a single valid proof-of-work block and temporarily turning off Orchard actions until NU6.2 activated.

Shiba Inu is following the ongoing positive trend in the broader crypto market as the prices of leading cryptocurrencies, including meme tokens, are beginning to post decent gains.

While SHIB has also moved toward a brief price rebound, the latest data on its exchange activity suggests that traders are gradually regaining their confidence in the leading meme token.

Shiba Inu has seen more buyers trade its token over the last day than sellers as the asset begins to garner conviction among traders as momentum begins to build.

Per data from CryptoQuant, the Shiba Inu exchange netflow is projecting a bullish signal as it is sitting at -106,971,400,000 SHIB as of the time of writing.

This means that the number of SHIB tokens purchased from trading platforms over the last 24 hours has surpassed the tokens sold over the same period by a massive 106,971,400,000 SHIB.

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The negative netflow is bullish for the asset as it signals increased conviction among traders, with over 106 billion SHIB tokens being purchased in just one day.

With selling pressure finally easing off, market participants are becoming more optimistic about a price recovery for SHIB, with hopes that the extreme market volatility seen recently eventually fades off.

Although Shiba Inu is witnessing bullish exchange activity, its price has still yet to show signs of a major recovery. However, its downside pressure is beginning to ease off.

While still trading around its multi-month low at about $0.0000047, Shiba Inu has shown a modest price gain of 0.3% over the last 24 hours, according to data from CoinMarketCap.

This shows that the promising netflow has still yet to trigger a major recovery for SHIB, but it is gradually creating the path for a price resurgence in the short term. 

In the current cycle, Bitcoin has experienced one of its most severe corrections, falling from the $80,000 area to $60,000 and causing a great deal of anxiety in the market.

However, one important on-chain metric indicates that Bitcoin may be getting close to levels that long-term investors have historically found appealing, even though price action is still erratic. The Market Value to Realized Value (MVRV) ratio for Bitcoin has dropped to 1.1, according to recent market data. Analysts note that the MVRV of Bitcoin is currently at 1.1, sitting just above the green undervaluation zone that has historically marked major market bottoms.

In order to determine how much profit holders are sitting on in relation to their average acquisition cost, the MVRV ratio compares the market capitalization of Bitcoin with its realized capitalization. In the past, readings close to 1.0 have suggested that the market is getting close to fair value, and declines below that level have frequently been associated with significant opportunities for accumulation.

The current reading indicates that Bitcoin is getting cheaper from a historical valuation perspective, but it does not necessarily indicate a bottom.

This story is also supported by technical indicators. Bitcoin has severely broken below all major moving averages on the daily chart, including the 50-day, 100-day, and 200-day trends. Strong bearish momentum is typically indicated by such a structure. However, the Relative Strength Index has fallen into oversold territory and is now trading at about 27. In the past, relief rallies or medium-term trend reversals were often the outcome when Bitcoin reached comparable RSI levels.

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The recent sell-off also resulted in a significant increase in trading volume. This move seems to be a large-scale capitulation event, in contrast to weak declines that happen when participation declines. Before a long-lasting bottom can form, markets frequently require these forced selling moments.

However, a strong setup is produced when the MVRV ratio is close to historical undervaluation levels and the technical readings are significantly oversold. The data increasingly indicates that Bitcoin is entering a price range where long-term accumulation has historically provided favorable risk-reward characteristics, even though short-term volatility is still likely.

From a valuation perspective, Bitcoin looks much less expensive than it did just a few weeks ago, though it's unclear whether the precise bottom has already been reached.

XRP enters the new week of June on a bullish note after closing the previous seven days strictly above the lower boundary of the Bollinger Bands. On the weekly chart by TradingView, the Bollinger Bands indicator has compressed into a tight spring, which technically points to a sudden exit from the consolidation phase.

The fact that the token closed the previous seven-day period strictly above the lower boundary of the indicator confirms buyers' ability to hold key support levels. This local reversal activates a bullish scenario in the market "menu" - a natural rebound toward the middle SMA line at $1.3725, and, if the upward impulse holds, even a test of the upper boundary at $1.57.

The technical setup is perfectly synchronized with the political timing, as the U.S. administration is demanding a full Senate vote on the CLARITY Act by July 4. What adds intrigue to the current calm is how resiliently the token absorbed the recent market-wide storm, which dragged the price down by 17%.

While the industry was being thrown from side to side, U.S. spot XRP ETFs showed interest, and from June 1 to June 5, capital flows swung from a negative $5.34 million to a positive $4.13 million. By the end of the week, institutional players had fully bought the dip, pushing the net balance into positive territory at $2.62 million.

Behind the scenes, this visible interest from large capital is being directly linked to the timing of the congressional vote. The White House's demand for a decision on the CLARITY Act by Independence Day, July 4, practically explains the current price behavior.

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With high probability, XRP will continue collecting liquidity and drifting inside a sideways corridor until the resolution comes in early July, and for market participants, this will be an elimination game with a binary outcome.

Approval of the law could trigger a major short squeeze and quickly carry the price toward the calculated technical targets around $1.37. If force majeure hits and the regulatory initiative is rejected, which Polymarket pricing currently assigns a 49% probability in 2026, market-wide pressure and U.S. macroeconomic risks could push XRP lower, sending it to test the psychological support level at $1.00.

U.S. Senator Cynthia Lummis keeps tirelessly advocating for the passage of the Digital Asset Market Clarity Act, which continues to hang in the balance. 

"The Clarity Act passed committee. The floor is next. We did not come this far to quit at the 5-yard line," she said. 

The Digital Asset Market Clarity Act is a major effort to pass a federal framework for the American cryptocurrency industry. 

The legislation has already made significant progress. It already cleared the U.S. House of Representatives last July with rather strong bipartisan support. 

The bill then faced delays in the Senate in early 2026 over stablecoin yield provisions. It successfully advanced through the Senate Banking Committee on May 16. 

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More recently, the Senate Banking Committee formally reported the amended bill. 

However, the bill still faces several hurdles. These hurdles include reconciliation with the Senate Agriculture Committee's version, a likely 60-vote threshold to pass the Senate, and a final House-Senate reconciliation.

The legislation boasts powerful allies like Treasury Secretary Scott Bessent and SEC Chairman Paul Atkins, but its passage remains a coin flip for now. 

Senator Lummis is strongly advocating for the immediate passage of the bill because she believes that there is a very small window of opportunity for regulatory overhaul. 

This legislative window for passing the Clarity Act will likely slam shut until 2030 if Congress fails to act right now, according to Lummis 

The entire legislative process might be completely reset. Furthermore, the Democrats, who have reportedly been alienated by the pro-GOP industry, could stall more favorable crypto regulation. 

The meme coin Shiba Inu (SHIB) has reached levels not seen since early March due to a clear breakdown from its multi-month consolidation structure.

Although the move itself appears to be negative on the surface, a number of technical indicators point to SHIB possibly entering the best stage for a long-term recovery effort.

The Relative Strength Index (RSI), which has fallen into oversold territory, is the most notable development. In the past, times when SHIB's daily RSI drops below 30 have frequently been associated with seller fatigue and set the stage for at least a brief relief rally. The RSI is still close to 27 as of this writing, suggesting that the bearish momentum has been stretched.

But traders shouldn't assume that a V-shaped recovery will happen right away. Volume behavior is one element preventing a quick recovery. Trading volume has been steadily declining during the reversal process as SHIB tries to stabilize following the steep decline. Strong recoveries should ideally be accompanied by rising volume, as buyers absorb the selling pressure. The current configuration implies that market players are still cautious, which lowers the likelihood of a quick breakout back toward prior highs.

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From a trend standpoint, SHIB is still below the 50-day, 100-day, and 200-day moving averages. Bears continue to dominate the overall trend, as evidenced by the recent breakdown from the rising channel that formed between March and May.

However, there is an intriguing risk-reward setup due to the current oversold situation. The first recovery target is located between $0.0000054 and $0.0000055, close to the 50-day moving average. SHIB would be able to challenge the 100-day moving average around $0.0000058 if it were to successfully push above this zone. The 200-day moving average at $0.0000060, which is also in line with the previous channel breakdown zone, continues to be the main resistance area after that.

Any upward movement should be considered a recovery rally within a broader downtrend until SHIB regains these levels. Nevertheless, the asset has reached a point where downward momentum is getting harder to maintain after months of consistent selling pressure and a severely oversold RSI reading.

Whether buyers can turn technical exhaustion into a significant trend reversal or just create another fleeting bounce will be determined in the upcoming sessions.

Strategy’s Michael Saylor has once again sent the cryptocurrency community into a frenzy of speculation with a single, cryptic post on X: "32?"

The mysterious post comes after Strategy sold a minor 32 BTC tranche near recent market highs. 

Now, both fervent supporters and harsh critics are converging on a single prediction: the legendary Bitcoin bull is gearing up to unveil a massive buy-the-dip purchase.

Financial commentator and perennial market skeptic Quoth the Raven (@QTRResearch) predicted that the initial 32 BTC sale was nothing more than a calculated misdirection.

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According to QTR, Saylor "just bought way more than 32 BTC and will disclose it to 'prove' it was just an experiment & everything is really fine." The critic argued that this move is designed to make Saylor look "clever for buying 10x what he sold 30% lower for 24-48 hours."

However, QTR Research does not believe the stunt will save the market. He is convinced that Bitcoin will eventually crash to $40,000 despite this stunt. 

The broader Bitcoin community is interpreting the "32?" tweet as a masterful ploy. 

"Saylor is a genius. Sold 32 Bitcoin at $77,000 knowing the price would crash down to $59,000," one commentator said. 

The community claims that Saylor most likely bought thousands of Bitcoins around $60,000 and will reveal it tomorrow. 

Market analyst Joe Consorti described hypothetical scenario where Saylor would "sell 32 BTC, buy 32,000 BTC the very next week." Consorti claims that  "hyperbitcoinfinancialization at work."

As reported by U.Today, Saylor has already teased yet another Bitcoin purchase on the X social media account. 

Despite a slight recovery from recent lows, XRP is still among the market's weakest large-cap assets.

The asset accelerated downward after breaking below the crucial $1.30 support zone, briefly touching the $1.05-$1.10 range before drawing buyers. Although XRP has returned to $1.12 due to the current bounce, the overall trend is still very negative.

XRP is technically trading below all of the major moving averages. The persistent long-term weakness is reflected in the 50-day, 100-day, and 200-day trend indicators, which are still sloping downward. More significantly, the area around $1.30 that was once support has turned into resistance. If the asset gets close to that region, there will probably be strong selling pressure on any attempt at recovery.

A significant bearish continuation pattern that had been forming for months was completed by the most recent decline. During the breakdown, volume increased, indicating that sellers are still in charge. Even though the daily RSI has reached extremely oversold levels, in significant downtrends, oversold conditions by themselves seldom indicate the final bottom.

Bulls should take heart from the fact that panic selling seems to be slowing down. The most recent candles indicate that buyers are entering the $1.05 area, indicating that short-term traders are prepared to defend the level.

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To indicate any significant trend reversal, XRP would need to recover at least $1.30 and eventually the moving averages above. As of right now, the most likely scenario is ongoing volatility interspersed with sporadic upturns.

In the coming months, XRP may revisit the recent lows and possibly investigate lower support zones if the broader cryptocurrency weakness continues.

After going through one of its biggest declines of the year, Bitcoin has stabilized around $61,000. Before buyers appeared, the asset briefly fell toward the $60,000 mark, resulting in a minor relief bounce.

Even with the recovery, the technical picture is still precarious. The clear break below the 50-day and 100-day moving averages is the most significant development. Additionally, during its last attempt at recovery, Bitcoin was unable to regain the 200-day moving average near $80,000, indicating that long-term momentum is still negative.

During the most recent sell-off, volume skyrocketed, suggesting a capitulation event rather than regular profit-taking. The daily RSI has fallen to extremely oversold levels, close to 20, which are typically linked to panic. Relief rallies are frequently preceded by such readings, but this does not mean that the final bottom has formed.

The crucial battleground is currently the $60,000 area. Bitcoin may try to rebound toward $70,000 and the cluster of moving averages above if buyers are successful in defending it. A sustained break below present levels, however, would expose the market to a more severe decline toward the $55,000–$50,000 range, where there is more historical support.

Bitcoin seems to be oversold and ready for a comeback in the near future. Whether that bounce turns into a true trend reversal or just another rally within a larger bearish framework is the question.

Sellers continue to have an advantage until Bitcoin reclaims the major moving averages overhead.

After one of the biggest drops of the year, Ethereum has entered a critical phase. Before buyers intervened, the asset momentarily fell below the psychologically significant $1,600 level, resulting in a relief bounce back toward $1,620.

Although there is some short-term hope due to the rebound, the overall technical picture is still strongly skewed downward. Bearish continuation was effectively confirmed by the break from the descending consolidation pattern that developed during April and May. When ETH failed to maintain support close to its 100-day and 200-day moving averages, stop-losses were triggered throughout the market, accelerating the subsequent sell-off.

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Ethereum currently trades below all significant moving averages from a technical standpoint. The strength of the current downward trend is demonstrated by the 50-day, 100-day, and 200-day averages, which are still pointing lower. Simultaneously, the RSI has entered extremely oversold territory, which typically precedes brief recovery rallies.

The $1,800-$2,000 range is the first region traders will keep an eye on. It is currently the closest major resistance zone and served as support in the past. There may be significant selling pressure from trapped holders trying to exit their positions if there is a bounce toward those levels.

Despite the bearish structure, the current sell-off might be nearing short-term exhaustion. During the decline, volume increased significantly, indicating conditions akin to capitulation. These spikes frequently accompany panic selling incidents before markets stabilize.

Ethereum is still heavily dependent on the performance of Bitcoin, though. ETH might revisit recent lows and possibly test deeper support levels if BTC keeps declining. Ethereum would need to reclaim the major moving averages and set higher highs in order for bulls to regain significant control, but this seems unlikely at the moment.

Right now, the market is still in damage control mode. Until proven otherwise, the longer-term trend is still negative, but the short-term outlook favors volatility and relief rallies.

Despite a severe decline from recent highs, Hyperliquid is still among the best performers in the digital asset market. HYPE experienced a sharp decline that momentarily moved the token toward the mid-$50 range before buyers returned following a surge to almost $76.

HYPE is still well above its important long-term moving averages, unlike the majority of major cryptocurrencies. A structurally bullish market is indicated by the 100-day and 200-day trend indicators, which are still sloping upward. The asset trades well above those support levels even after the most recent correction, suggesting that long-term momentum is still present.

Rather than a true trend reversal, the recent decline seems more consistent with profit-taking. Traders frequently lock in gains after an explosive rally, which temporarily creates selling pressure. This dynamic seems especially relevant given how rapidly HYPE gained popularity during the prior advance.

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The maintenance of the broader uptrend structure is one significant technical factor. Over a longer period, the rising support line that led the asset higher throughout the spring is still in place. The long-term pattern is still valid even though the short-term momentum has diminished.

Overbought conditions have caused the RSI to cool significantly, which may eventually help the asset by resetting speculative excess. When selling pressure lessens, a stronger momentum profile frequently serves as the basis for upcoming gains.

The recent highs between $70 and $76 continue to be important resistance. HYPE may eventually attempt another move toward those levels if buyers are successful in defending the current support region and volume returns. On the other hand, a break below the $50 mark would be a more dire warning and might indicate a more significant correction.

Hyperliquid continues to be one of the best relative performers compared to much of the cryptocurrency market. Even though volatility remains high, the general trend is still in favor of bulls unless significant support zones start to collapse.