🛡️Alex Protocol Hacks Draining Millions
The Alex Protocol on Stacks (a Bitcoin DeFi platform) experienced a major exploit due to a vulnerability in its “self‑listing verification.”
Approximately 8.4 million STX, 21.85 sBTC, 150K USDC/USDT, and 2.8 WBTC were stolen.
The platform has pledged to reimburse affected users on X, describing it as one of the largest hacks in the Stacks ecosystem
📊 BTC Liquidations Could Reach $15 B with 10% Rally
With Bitcoin hovering around $105,500, data shows a 10% price uptick could trigger up to $15 billion in short liquidations.
Traders are betting on a bullish continuation following the recent rebound from the $100.5K low
📉 Spot ETF Funds Bleeding Amid Neutral Sentiment
Spot-traded Bitcoin ETFs have seen outflows for the second consecutive week.
Despite this, decreasing BTC supply and neutral – not overly fearful – market sentiment may provide a foundation for recovery
🔁 “Bear Trap” May Signal Bullish Reversal
According to Crypto Rover, Bitcoin’s “bear trap” has ended, potentially signaling the start of a bullish reversal in price action
🧭 Market Snapshot & Outlook
BTC is trading around $105,500–106,000, holding steady since a dip to $101K earlier this week (June 5)
The Fear & Greed index remains neutral (mid‑50s), reflecting balanced sentiment
Watch key technical levels: support at $103K, resistance around $106K, and potential breakout toward $120K by Q3, per analyst Michael van de Poppe
🔮 What to Watch Next
Alex Protocol Repayments – Will reimbursements be timely and fully cover users?
Liquidity Shift – Will spot ETF outflows reverse if sentiment shifts bullish?
Short Covering – A rebound above $106K could trigger large-scale short squeeze.
Reversal Confirmation – Can the “bear trap” really turn into a proper uptrend?
📌 Today’s Bitcoin Price Range
Low: ~$105K
High: ~$106K+
Volatility: Moderating after recent swings
