Social media platform X has selected Polymarket as its prediction market partner, heralding a new growth chapter for the decentralized predictions marketplace. X, owned by tech billionaire and Tesla chief Elon Musk, announced the partnership with Polymarket on June 6,…

Elon Musk’s X taps Polymarket as official prediction market partner

Binance research highlights a powerful wave of institutional crypto adoption, 
fueled by SEC clarity, ETF innovation, and Circle’s IPO reshaping Wall 
Street’s digital asset strategy. Binance Flags Institutional Crypto Boom as 
ETFs Rise, Circle Lists, and SEC Clears Path Crypto exchange Binance published 
new research on June 6 highlighting a surge in institutional adoption of […]

Binance: Institutional Crypto Surge Fueled by SEC Clarity, Circle IPO, JPMorgan Shift

As political tensions between US President Donald Trump and Elon Musk 
escalated yesterday, the Bitcoin (BTC) market experienced a sharp shift in 
sentiment, with the funding rate on Binance flipping from positive to negative 
within hours. Bitcoin Funding Rates Turn Negative On Binance According to a 
CryptoQuant Quicktake post by contributor Darkfost, BTC funding rates on 
Binance have once again turned negative, even as the top cryptocurrency 
continues to trade above the $100,000 mark at the time of writing. Related 
Reading: Bitcoin Upward Momentum ‘Highly Likely’ To Continue, On-Chain Data 
Shows The analyst attributed the sudden reversal in funding &#8211; from +0.003 to 
-0.004 &#8211; to the public spat between Trump and Musk on social media. This rapid 
shift reflects growing fear among market participants amid heightened 
uncertainty. Following the sentiment shift, BTC fell from the mid-$100,000 
range to a low of $100,984, according to CoinGecko. Over the past two weeks, 
the asset has declined by 4.1%. That said, the current dip may offer a prime 
buying opportunity to investors. If Bitcoin rebounds strongly, it could result 
in a strong resurgence in buying pressure, leading to a short squeeze that may 
propel BTC’s price further up. Darkfost highlighted that there have been three 
instances during the current market cycle when BTC witnessed such deep 
negative funding. Notably, each of these instances were followed by a strong 
upward move in the cryptocurrency. For example, on October 16, 2023, BTC 
dipped into negative funding territory before rallying from $28,000 to 
$73,000. A similar pattern played out on September 9, 2024, when the asset 
surged from $57,000 to $108,000. The most recent case was on May 2, 2025, when 
BTC jumped from $97,000 to a new all-time high (ATH) of $111,000. If history 
repeats, then the market may see a new ATH for BTC in the coming weeks. 
Darkfost noted: Such extreme readings often mark moments of maximum pessimism, 
precisely the kind of sentiment that can precede a strong bullish reversal 
when the short term negativity is gone. Large Investors Increase BTC Exposure 
Meanwhile, Bitcoin whales &#8211; wallets holding large amounts of BTC &#8211; continue to 
accumulate at a rapid pace. Notably, new whales have acquired BTC worth $63 
billion, reflecting strong confidence in the asset’s near-term prospects. 
Related Reading: Bitcoin Hash Ribbons Indicating Prime Buying Opportunity, 
Analyst Says Supporting this bullish outlook, recent analysis by QCR Capital 
indicates that large investors expect BTC to surge to as high as $130,000 by 
the end of Q3 2025. Additionally, the realized cap held by long-term holders 
has surpassed $20 billion, reinforcing positive sentiment. That said, some 
analysts urge caution, expecting BTC to crash below $100,000 before resuming 
its bullish momentum. At press time, BTC trades at $104,069, down 0.5% in the 
past 24 hours. Featured image from Unsplash, charts from CryptoQuant and 
TradingView.com

Bitcoin Sees Negative Funding On Binance – A Classic Setup For A Short Squeeze?

The price of Official Trump coin briefly spiked 6% before pulling back, 
following Eric Trump saying the team &#8220;remain focused on building the most 
exciting MEME on earth.&#8221;

TRUMP memecoin ‘hasn’t pumped’ after Eric Trump says WLF will buy big stack

The Federal Reserve is accelerating efforts to eliminate regulatory gray 
zones, pledging precise digital asset guidance to unlock innovation in crypto 
and next-gen financial technologies. Fed Targets Ambiguity in Digital Asset 
Rules as Part of Broader Overhaul Federal Reserve Vice Chair for Supervision 
Michelle W. Bowman emphasized on June 6 at Georgetown University’s Psaros 
Center […]

Fed Signals End to Ambiguous Crypto Rules, Clearing Road for Innovation

Bitcoin (BTC) dropped sharply over the past 24 hours, nearing the $100,000 
mark with an intraday low of $100,984. This price movement reflects increased 
volatility across the crypto market following a public exchange on social 
media between US President Donald Trump and Tesla CEO Elon Musk. Their clash 
appears to have triggered a wave of risk-off sentiment among traders. In 
response, the global crypto market cap slipped 4%, falling from over $3.4 
trillion yesterday to $3.33 trillion. Meanwhile, the broader market correction 
has not gone unnoticed in derivatives data. Related Reading: Crypto Analyst 
Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 Derivative 
Metrics Reveal Bearish Sentiment Spike According to CryptoQuant analyst 
Darkfost, the Binance net taker volume, a metric that measures the difference 
between aggressive longs and shorts, fell dramatically from $20 million to 
-$135 million in under eight hours. This signals a sharp pivot in sentiment, 
as traders rushed to hedge or speculate on downside risk in response to the 
unfolding news. Darkfost emphasized that this was the largest intraday net 
taker volume reversal observed on Binance this year. The abrupt shift reflects 
how quickly sentiment can change when macro-level narratives or influential 
figures dominate headlines. In this case, the market responded swiftly to 
perceived uncertainty, leading to a concentration of short positions and 
significant selling pressure. The situation also led to a notable change in 
BTC perpetual futures funding rates. Funding on Binance turned negative after 
briefly trending toward positive territory, dropping from +0.003 to below 
-0.004. This indicates that short sellers were willing to pay a premium to 
maintain bearish positions, underscoring rising fear and potentially 
overextended downside bets. 🔔When Funding rates turns negative. 🔹 Buying or 
considering a long position is often wise when funding rates turn highly 
negative, especially if the price starts to trend upward. This typically 
signals a disbelief sentiment among traders, creating strong contrarian… 
pic.twitter.com/LGyHU9uNNK — Darkfost (@Darkfost_Coc) June 6, 2025 Bitcoin 
Past Patterns Suggest Potential for Reversal Historically, deeply negative 
funding rates have been followed by strong recoveries in Bitcoin’s price. 
Darkfost noted three previous events where similar funding shifts led to large 
rallies: October 2023 (BTC surged from $28,000 to $73,000), September 2024 
(from $57,000 to $108,000), and May 2025 (from $97,000 to $111,000). Related 
Reading: Bitcoin’s Key Investors Double Down, Buy Another 79,000 BTC While not 
guaranteed, these patterns suggest that extreme pessimism can sometimes signal 
market turning points. The only recent exception occurred in March 2025 
following trade tariff announcements, which led to a continued decline. Still, 
many traders are watching closely for signs of a short squeeze, where price 
rebounds force short sellers to cover, amplifying upward momentum. Featured 
image created with DALL-E, Chart from TreadingView