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Bitcoin’s bounce from $59K on hold? Whale selling and bearish momentum say…

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Bitcoin's bounce from $59K on hold? Whale selling and bearish momentum say…


Bitcoin rebounded from a drop to $59.1k, defended the $60k level, and climbed to a local high of $64k. Even so, market conditions remained volatile.

At press time, BTC traded at $63,058 after gaining 2.03% over the past 24 hours. Trading volume rose 40% to $36 billion during the same period, pointing to renewed market participation.

Why did THIS Bitcoin whale sell so quickly?

As Bitcoin [BTC] hovered near $60k, whale activity intensified. The Exchange Whale Ratio climbed to a two-week high of 0.6.

Bitcoin exchange whale ratio
Source: CryptoQuant

An elevated Exchange Whale Ratio suggested large holders accounted for a growing share of exchange deposits. At the same time, some whales appeared to capitalize on the recent sell-off.

According to Lookonchain, one Bitcoin whale purchased 1,656 BTC worth $98.93 million at an average price of $59,734.

After the purchase, selling pressure eased and BTC reclaimed the $60k level. As the price recovered toward $64k, the whale moved the holdings to Binance and locked in profits.

The transaction generated roughly $3.5 million in gains within two days.

That move highlighted the cautious sentiment still present across the market. Rather than holding through uncertainty, some traders appeared willing to secure profits quickly.

Such behavior can create additional resistance during recovery attempts, especially when sellers emerge after modest gains.

Can dip buyers absorb whale selling?

Despite the attempted recovery, with slight gains on price charts, downside momentum remains strong. With whales now selling, they continue to strengthen this momentum.

In fact, Bitcoin’s Trend Momentum has remained negative for three consecutive weeks. On the 8th of June, the metric fell deeper into negative territory and reached -20.

Bitcoin TMIBitcoin TMI
Source: TradingView

In the negative zone, this metric suggests that sellers have total control of the market. At these levels, it signals the likelihood of trend continuation.

Therefore, if sellers, especially whales, continue to exit the market, we could see another pullback towards $60k.

However, although whales are selling, it seems small-scale traders are buying the dip. Looking at the Exchange NetFlow, this metric has remained negative for the past 4 days.

Bitcoin Exchange NetflowBitcoin Exchange Netflow
Source: CryptoQuant

A negative NetFlow suggests that buyers are also very active in the market. Thus, if these small-scale buyers hold on, they could absorb the pressure from whales and give Bitcoin a lifeline.

Under such circumstances, we could see BTC reclaim $65k and target $70k in the short- to medium-term.

Final Summary

  • A Bitcoin whale bought 1,656 BTC near $59.7k and exited two days later with an estimated $3.5 million profit.
  • Bitcoin recovered from a drop below $60k and briefly reached $64k, but Trend Momentum remained bearish.



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CME is letting traders bet on bitcoin volatility, not price, and two firms have already placed bets

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moneyvests
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CME is letting traders bet on bitcoin volatility, not price, and two firms have already placed bets

CME’s bitcoin BTC$62.945,93 volatility index futures began trading last week, offering investors a new way to trade and hedge price volatility. DV Chain and Monarq Asset Management executed the first block trades, kicking off trading in the contracts.

These volatility contracts track the CME CF Bitcoin Volatility Index (BVX), which represents the market’s expectations for bitcoin volatility over four weeks. Their debut allows traders to take positions directly on expected price turbulence rather than just price direction.

That distinction matters because most derivatives, including futures, perpetual futures and options, require a view on where price is going. Volatility futures eliminate that complexity, letting traders express a view purely on how BTC will move in either direction.

That opens the door to a new set of hedging and portfolio strategies that were previously difficult to execute on regulated venues. Think of positioning for how much bitcoin might move around events like this week’s U.S. inflation data – traders can go long or short volatility depending on their outlook.

Shiliang Tang, CEO of Monarq, called the launch a positive step in broadening regulated volatility offerings.

“As bitcoin continues to mature into a more mainstream institutional asset class, the demand for sophisticated risk management instruments grows alongside it. Robust tools like CME Group Bitcoin Volatility futures are exactly what investors need to accurately express their market viewpoints and efficiently hedge their portfolios within a secure, transparent framework,” he said in the press announcement.

Monarq Asset Management is a institutional-focused quantitative and systematic digital asset investment firm managed by former executives from firms such as LedgerPrime, Tower Research, and BlockTower Capital. DV Chain is a liquidity and market-making service provider.

The launch of volatility futures expands CME’s existing product suite comprising bitcoin and ether standard and micro futures and options contracts. The platform’s crypto derivatives business has reached roughly 266,900 contracts year-to-date, up 38% year-on-year, while average daily open interest stands at roughly 274,500 contracts, up 18%.



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Stock market today: Dow, S&P 500, Nasdaq futures mixed as oil rises after Iran and Israel exchange strikes

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moneyvests
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Stock market today: Dow, S&P 500, Nasdaq futures mixed as oil rises after Iran and Israel exchange strikes


US stock futures were mixed on Monday morning after Iran attacked Israel, putting pressure on a fragile ceasefire in the Middle East, and investors continued to reprice rate-hike bets and assess the artificial intelligence trade.

Futures tied to the Dow Jones Industrial Average (YM=F) moved down 0.3%. Meanwhile, S&P 500 futures (ES=F) rose 0.2% as contracts on the tech-exposed Nasdaq 100 (NQ=F) jumped 0.7%.

Markets start the week on unsteady footing after the Nasdaq (^IXIC) dropped 4% on Friday and the S&P 500 (^GSPC) snapped its nine-week winning streak. A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report that strengthened the case for the Federal Reserve to raise interest rates later this year.

Oil prices flared after Iran fired missiles at Israel for the first time since April, and Israel struck back despite President Trump’s calls for both sides to stop fighting. Brent futures (BZ=F) climbed over 4% to above $97 a barrel, while West Texas Intermediate futures (CL=F) topped $94 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.

Investors will get a better sense of whether higher oil prices are starting to bleed into core prices on Wednesday with the release of the latest monthly Consumer Price Index. That’s followed by an update on the Federal Reserve’s preferred gauge of inflation, the Producer Price Index, on Thursday. The Fed’s focus will be squarely on inflation after a batch of jobs data last week showed the labor market remains stable.

Other key events to watch this week include Oracle (ORCL) earnings on Wednesday and the likely SpaceX (SPCX) IPO on Friday, which is expected to be the largest public offering on record.

Coming soon

Live coverage of stock market news and updates for June 8, 2026.



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Legora’s Tech Chief Says Tokenmaxxing Is ‘Really Stupid’ for AI Usage

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moneyvests
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Legora's Tech Chief Says Tokenmaxxing Is 'Really Stupid' for AI Usage


There are far better ways to encourage AI use than tokenmaxxing, says Legora’s chief technology officer.

“A lot of people, say, get a leaderboard and bring up token usage at performance reviews,” said Jacob Lauritzen on an episode of the “20VC” podcast released on Saturday. “That leads to tokenmaxing, which is people just burn tokens just to look good.”

“That’s a really stupid way to do anything,” he added.

Tokenmaxxing refers to using tons of AI tools like Claude, Codex, and Cursor to boost productivity and get ahead on internal AI use dashboards and reviews.

Lauritzen, who joined the legal AI startup in 2024, said that more intelligent ways to use AI include hack days or demos where employees can show others what they’re building and the efficiency gains they have achieved.

“Reward them for being effective and efficient and having more output, not for necessarily using AI,” he said.

That said, Lauritzen added that fast-growing companies like Legora have a lot to lose when they don’t use AI.

“Is it worth us spending a ton of tokens to learn if it maybe gives us 20% efficiency for us? Yes, we have a really high opportunity cost,” he said.

Lauritzen’s comments come at a pivotal moment for the tech industry, as it moves from tokenmaxxing to token capping. Some tech companies are wondering if the dashboards they implemented as motivation to play around with AI are backfiring — and finance departments are increasingly concerned about how much it all costs.

Last week, Uber said it has limited all employees to $1,500 in monthly token spend per AI tool, after the ride-hailing company blew through its AI spend budget earlier this year.

Last month, the Financial Times reported that Amazon shuttered an internal dashboard that tracked AI use after some staff performed tasks to climb the leaderboard.

An Amazon spokesperson told Business Insider that the unofficial dashboard “was never intended to promote the use of AI for usage’s sake.”

At a Bloomberg conference last week, Andrew Feldman, the CEO of Cerebras Systems, said that the idea of giving employees unlimited tokens was “boneheaded from the get-go.”

“You don’t need a Ferrari to go to the grocery store, right? Use a lower-cost open source model,” he said about being more efficient with tokens. “What we’re learning is how to shop at Costco.”





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XRP price news: RIpple-linked token steadies above $1.10 from four-month lows

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moneyvests
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XRP price news: RIpple-linked token steadies above $1.10 from four-month lows

XRP finally found buyers after one of its sharpest selloffs of the year, but the recovery looks more like stabilization than a trend change. The token bounced from levels last seen before the November 2024 breakout, yet every rally is still running into sellers, leaving XRP stuck between deeply oversold conditions and a market that hasn’t stopped de-risking.

News Background

• More than 25 million XRP left exchanges in recent days, extending a trend that typically points to accumulation rather than immediate selling.

• XRP-linked ETF products continued attracting capital, with roughly $118 million in inflows recorded during May and cumulative inflows approaching $1.4 billion.

• Analysts and forecasting models increasingly view the $1.10-$1.20 area as a potential stabilization zone after XRP’s recent 17% weekly decline.

Price Action Summary

• XRP gained 1.6% over the session, recovering from lows near $1.09 and climbing back toward $1.14.

• The strongest move came during the 22:00 UTC session, when volume surged to 145.3 million XRP and pushed price through resistance near $1.1350.

• Momentum faded into the close, with XRP slipping from $1.1488 to $1.1386 before buyers stepped back in near support.

Technical Analysis

• The bigger story is that XRP remains trapped inside a descending channel despite the bounce. The recovery eased immediate downside pressure but did not break the broader pattern of lower highs.

• The RSI has fallen to one of its most oversold readings since before the November 2024 rally, a sign that selling may be becoming exhausted.

• Exchange outflows and ETF inflows continue to point toward accumulation beneath the surface, but price action still resembles a market trying to find a floor rather than one beginning a new uptrend.

• The bounce from $1.09 matters because it showed buyers are willing to defend the area, though follow-through buying remains limited.

What traders should watch

• $1.13-$1.14 is now the key near-term support zone after the latest recovery.

• $1.15 remains the first meaningful resistance level and the upper boundary of the current descending channel.

• A move above $1.20 would be the first sign that XRP is starting to repair the damage from the recent selloff.

• If support near $1.10 fails again, traders are likely to focus on whether the psychologically important $1.00 level becomes the next downside target.



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Crypto spot volume crash from $2T to $679B – Traders are moving to THESE markets

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moneyvests
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Crypto spot volume crash from $2T to $679B – Traders are moving to THESE markets


Spot activity has been fading for months, and April’s numbers show that trend is becoming harder to ignore. After peaking near $2 trillion in October 2025, monthly spot volume steadily declined until reaching roughly $679 billion, the weakest reading since October 2023.

Source: X

The decline suggests traders are becoming less interested in outright asset ownership. Instead, a larger share of activity is moving toward futures and perpetual markets, where capital can remain active without committing fully to spot positions.

That shift explains why spot liquidity continues thinning despite ongoing market participation. Traders have not disappeared from the market. Rather, they appear increasingly focused on leveraged exposure while waiting for stronger directional conviction to return.

 Demand shifts toward traditional markets

As crypto spot trading continued slowing across major exchanges, equity activity on Gate moved in the opposite direction. Daily equity volume reached roughly $30 million on the 1st and 2nd of June, marking its second-highest level in three months.

Source: CryptoQuant

The increase suggests trading appetite has not disappeared despite weaker participation in digital asset markets. Instead, some capital appears to be shifting toward traditional assets available on crypto-native platforms.

Circle and NVIDIA attracted most of the activity, supported by their strong relevance to crypto and technology investors. The trend bears watching because sustained growth in equity volumes could reshape how users interact with crypto exchanges.

As tokenized asset markets continue expanding, their role within exchange ecosystems is becoming harder to ignore. Recent growth pushed tokenized equity volumes toward $3.57 billion, while the broader Real World Assets (RWA) market expanded to roughly $30 billion.

That shift is becoming increasingly visible as tokenized equity volumes approach $3.57 billion and the broader RWA market expands toward $30 billion. Unlike traditional crypto trading, RWA activity can draw demand from equities, fixed income, and other financial markets.

If adoption continues accelerating, tokenized assets could evolve from a complementary offering into a larger part of exchange activity, liquidity formation, and long-term growth.

Final Summary



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