Crypto Longs Lose $1.66B as 24-Hour Liquidations Hit $1.84B
CoinGlass data shows roughly $1.84 billion in crypto leveraged positions were liquidated across the past 24 hours. Long positions accounted for $1.66 billion of the total, while short positions accounted for $180 million. Bitcoin fell below $66,000, and Ether broke below $1,900 during the liquidation event.
DeepSeek plans to raise approximately $7 billion in its first financing round at a valuation of up to $59 billion. Tencent and CATL are set to become DeepSeek's largest external investors.
The USDH deployer unstaked 1.01 million HYPE worth $72.45 million and began transferring part of the holdings. Onchain Lens monitoring showed 200,000 HYPE worth $13.76 million was deposited into Flowdesk.
Onchain Lens said the USDH Deployer address began transferring and selling part of its HYPE holdings about 12 hours ago after unlocking 1.01 million HYPE worth approximately $72.45 million. The address sent 209,984 HYPE to a new address and moved 200,000 HYPE to Flowdesk.
June refund estimates show the average federal tax refund at about $3,268, roughly 8% higher than the same point last year. House Ways and Means Committee Democrats said the IRS had sent 1.4 million CP53E notices by late March 2026.
Bitcoin Drops Below $66K as Global Stocks and AI Trades Hit Records
Bitcoin fell to $65,708 in Asian morning trading on Wednesday, down 6.4% in 24 hours. CoinDesk data showed Ether broke below $1,900, while Solana fell 9.0% to $73.25. Global stocks set fresh all-time highs as the AI trade intensified. A record spot bitcoin ETF outflow streak crossed $3.2 billion through Tuesday.
The Blockchain Association sent a letter to Senate leaders urging passage of the Clarity Act. The letter was signed by 160 former national security and law enforcement officials. The bill passed the Senate Banking Committee last month and awaits a full Senate vote.
ECB’s Wunsch Says US-Iran Peace Deal Would Not End Rate-Hike Case
ECB Governing Council member Wunsch hinted at supporting a 25 basis point ECB rate hike even if a US-Iran peace agreement is reached before next week’s meeting. Wunsch said policymakers cannot know whether any peace agreement would be durable or credible. He said unresolved conflict would make the June 11th rate discussion fairly easy.
SoSoValue data shows Ethereum spot ETFs recorded a total net outflow of $90.1481 million yesterday. BlackRock's ETHA posted the largest single-day net outflow at $44.2681 million.
Tokenomist data shows 750 million DeFi App HOME tokens worth $36.87 million are scheduled to unlock on June 10. The amount represents approximately 19.79% of the token's circulating supply.
Bitcoin Falls Below $70K as Long Liquidations Hit $1.35B
Bitcoin fell below $70,000 on June 2, and Bitcoin price today sits around $65,917, down more than 6% in 24 hours. CoinGlass data shows June 2 liquidations wiped out $1.35 billion in crypto long positions, the largest total so far in 2026. Strategy sold 32 BTC for around $2.5 million between May 26 and May 31, and SoSoValue data shows Bitcoin ETFs recorded their 11th consecutive day of net outflows on Monday.
Mastercard Expands Stablecoin Settlement for Always-On Payments
Mastercard is expanding its settlement network to support regulated stablecoins and more flexible settlement timing. The company said the options include intraday, weekend and holiday settlement alongside on-chain settlement. Initial support includes stablecoins from Circle, Paxos, Ripple and SoFi.
Lookonchain data shows Bitmine holds 5,416,901 ETH worth about $10.03 billion, with about $8.9 billion in unrealized losses. Strategy holds 843,706 BTC worth about $56.26 billion, with about $7.6 billion in unrealized losses.
Odaily Seer Prophet Channel monitoring showed that a smart money address bought over $60,000 in Polymarket shares betting on Sabalenka to beat Schneider. The average entry price was 88.9 cents.
Marvell stock hit an all-time high of $290.79 on June 2 and closed up 32.52% in one session. Jensen Huang called Marvell “the next trillion-dollar company” at Computex, while Nvidia has held a $2 billion stake in Marvell since March.
Microsoft Unveils 1,000x More Reliable Quantum Chip as Bitcoin Risk Looms
Microsoft unveiled Majorana 2, a quantum chip it says is 1,000 times more reliable than its previous generation. The company said the chip could help bring scalable quantum computing by 2029. The announcement adds to concerns that future quantum computers could threaten public-key cryptography used by Bitcoin.
James Fickel transferred 10,000 ETH worth $18.62 million from a Coinbase custody address to a deposit address. The transfer was potentially for trading purposes and was his first multi-million dollar asset deposit operation in six months.