Bitcoin&#8217;s derivatives market has yet to fully heal from a violent shakeout 
last October, when roughly 71,000 BTC worth around $11 billion was wiped from 
open interest across major exchanges. Total open interest has not recovered to 
pre-event levels, leaving a gap of more than 24,000 BTC that signals many 
traders are still sitting on the sidelines. Related Reading: Bitcoin Faces 
Prolonged Downtrend Through 2027, Analyst Warns Derivatives Damage Still 
Visible That cautious positioning sits at the center of growing concern about 
where Bitcoin heads next. The world&#8217;s largest cryptocurrency closed May at 
$73,560, down 3.40% for the month, and at least two closely watched analysts 
say the slide may not be over. Prominent on-chain analyst PlanB framed the 
debate plainly. He said the market is roughly split on whether the February 
low near $60,000 marked the bottom of this cycle or whether a steeper drop is 
still ahead, and based on his reading of the data, he leans toward more 
downside. Bitcoin closed May at $73,568 Market is 50/50 on if Febryary $60k 
was the bottom, or the bear will continue. IMO data is telling us that we have 
not seen bottom formation yet, and that there is a &gt;50% probablility that we 
go lower (below 200wma $61k or realized price $53k). 
pic.twitter.com/4uxdxH5oGA — PlanB (@100trillionUSD) June 1, 2026 PlanB&#8217;s view 
rests on a chart tracking how much of the total Bitcoin supply is currently 
sitting in profit. In past bear market cycles, major bottoms typically formed 
when only a small share of holders were in the green and fear was widespread. 
Right now, data shows a higher proportion of holders still in profit compared 
to those historical trough periods, which PlanB says means the market has not 
yet hit the kind of full panic, or capitulation, that usually marks a true 
bottom. Two Levels Now In Focus He puts the odds of prices moving lower above 
50%, with two long-term indicators as potential landing zones. The 200-week 
moving average sits near $61,000 and has held as strong support in previous 
downturns. The realized price, which reflects the average cost basis across 
the entire Bitcoin supply, is near $53,000. Trader Ted Pillow flagged a 
nearer-term threshold. He said a daily close below $70,000 could trigger a 
fresh wave of selling, noting that the level has absorbed repeated pressure in 
recent weeks and that losing it would likely shake short-term trader 
confidence. Related Reading: Could XRP Hit $10 This Bull Run? World’s Highest 
IQ Holder Thinks So What Needs To Happen For A Bottom The picture that emerges 
from both analysts is one of a market waiting for a cleaner flush before 
conditions line up for a sustained recovery. Open interest on the derivatives 
side remains depressed, sentiment is fragile, and the percentage of holders in 
profit has not fallen to the lows that have historically coincided with cycle 
bottoms. PlanB said prices could fall below $61,000, with the 200-week moving 
average offering the first major test and the realized price near $53,000 
representing a deeper level of potential support. Bitcoin would need to move 
toward either of those levels for the current setup to more closely resemble 
the bottoming patterns seen in prior cycles. Featured image from Unsplash, 
chart from TradingView

Bitcoin&#8217;s derivatives market has yet to fully heal from a violent shakeout last October, when roughly 71,000 BTC worth around $11 billion was wiped from open interest across major exchanges. Total open interest has not recovered to pre-event levels, leaving a gap of more than 24,000 BTC that signals many traders are still sitting on &#8230;

Bitcoin Bottom Not In Yet? Analyst Sees Higher Odds Of Drop Below $61K

Grayscale proposed a fee of 0.29% on its Hyperliquid ETF, which “slightly 
undercuts” rivals 21Shares and Bitwise that carry respective fees of 0.3% and 
0.34%, says analyst James Seyffart.

Grayscale proposed a fee of 0.29% on its Hyperliquid ETF, which “slightly undercuts” rivals 21Shares and Bitwise that carry respective fees of 0.3% and 0.34%, says analyst James Seyffart.

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left it without sufficient funding to continue. According to a statement 
published Monday by Radiant’s decentralized…

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In 2004, U2 approached Apple about an ad deal, asking to be paid in Apple 
shares. Steve Jobs refused and instead steered the band into a no-fee campaign 
built around a special iPod U2 Edition, complete with black casing, red click 
wheel and engraved signatures. The tie-up drove a hit product and big sales 
without […]

In 2004, U2 approached Apple about an ad deal, asking to be paid in Apple shares. Steve Jobs refused and instead steered the band into a no-fee campaign built around a special iPod U2 Edition, complete with black casing, red click wheel and engraved signatures. The tie-up drove a hit product and big sales without &#8230;

The Unexpected Deal Steve Jobs Offered U2 After Refusing to Hand Over Apple Shares

Robinhood&#8217;s acquisition of WonderFi enhances its global reach, potentially 
reshaping Canada&#8217;s crypto market with increased accessibility and innovation.
The post Robinhood completes WonderFi acquisition to bring low-fee crypto 
trading to Canada appeared first on Crypto Briefing.

Robinhood&#8217;s acquisition of WonderFi enhances its global reach, potentially reshaping Canada&#8217;s crypto market with increased accessibility and innovation. The post Robinhood completes WonderFi acquisition to bring low-fee crypto trading to Canada appeared first on Crypto Briefing.

Robinhood completes WonderFi acquisition to bring low-fee crypto trading to Canada

Telegram founder Pavel Durov says it is “returning to our roots — and starting 
a new chapter” by rebranding Toncoin to Gram.

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Bitcoin Bottom Not In Yet? Analyst Sees Higher Odds Of Drop Below $61K

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