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Bitcoin's Relative Strength Index Drops to Lowest Level Since 2020 Bear Market, Increasing Likelihood of Testing $50,000

According to data disclosed by crypto analyst Scott Melker, Bitcoin short-term holders have recorded the largest loss-taking sell-off in history, while approximately 5.3 million BTC held by long-term holders are in a state of unrealized loss, with market sentiment turning extremely pessimistic.Additionally, Bitcoin's daily Relative Strength Index (RSI) has dropped to around 15.5, its lowest level since the pandemic-induced bear market in March 2020, indicating the market is deeply oversold. Having already fallen below $60,000, the likelihood of Bitcoin testing $50,000 is increasing. However, if it can sustain the key support level at $60,000 in the near term, a rebound toward the 20-day EMA around $70,600 could be possible in the coming weeks.

Glassnode Co-founder: Bitcoin May Have Entered Bottom Range, High-Probability Bottom Between $46,000-$54,000

Odaily News, Glassnode co-founder Rafael posted on platform X to analyze the recent trend of Bitcoin prices. He pointed out that Bitcoin is currently trading in the $62,000 range, down nearly 50% from its all-time high, with a 24% decline in the past month. The price has now broken through the upper range of his pricing framework and entered a valuation cluster zone where bottoms have historically formed.Rafael further indicated that the market bottom cannot be confirmed in advance and can only be identified through probabilistic ranges and key price levels. Bitcoin has fallen below the breakeven line for median holders for the first time since December 2022, and is currently within a broader support zone: the median realized price is approximately $64,100, and the 200-week moving average is around $61,700. At this stage, the high-probability bottom range could be between $46,000-$54,000, while the $35,000-$40,000 area below that represents a rare "sell-off tail." Notably, the magnitude of cycle corrections is gradually diminishing: previous cycles saw drops of roughly 85%, 84%, and 77% from the peak, while this cycle has only declined about 50%. This suggests the high-probability bottom is more likely within the upper range, though extreme sell-offs cannot be ruled out.

Bitcoin is just one step away from the German government’s average selling price, with $57,900 potentially becoming a key level<odatory-translate-split><p>According to Odaily, data from Arkham shows that the German government has sold a total of 49,858 Bi

据 Arkham 监测,德国政府此前已累计出售 49,858 枚比特币,平均卖出价格约为 57,900 美元。若比特币较当前水平再下跌约 6%,价格将跌至德国政府的平均卖出价附近,这意味着比特币已逐渐接近主权机构大规模抛售时的成本区间,因此在本周市场面临较大清算压力的背景下,57,900 美元附近值得重点关注;由于政府机构卖出通常具有非自主性、对价格不敏感等特点,该价位或成为市场评估供需关系和后续走势的重要参考区间。

Binance Life Suspected of Dual-Channel Position Building and Price Pump, with ~$38.77 Million Involved Across On-Chain and Exchange Channels

According to on-chain analyst Ai Aunt (@ai9684xtpa), Binance Life has surged by 52% since June 1, rising from $0.5503 to $0.8361. On-chain data shows that two addresses have collectively spent $20 million in USDT to accumulate positions since June 1, at an average entry price of approximately $0.684, generating an unrealized profit of roughly $4.418 million.

Unrealized profit of $5.881 million; the trader who "set 10 major goals first" holds 2,835.32 BTC in long positions

on-chain analyst Ai Yi posted on platform X, stating that the long positions of the trader who "set 10 major goals first" have an unrealized profit of $5.881 million. As shown in a screenshot shared yesterday, the trader has opened long positions for 2,835.32 BTC, valued at $170 million, with an entry price of $60,153.8. BTC has now broken through $62,000.

AI Industry Express: NVIDIA NVL576 Optical Engine Configuration May Increase by 78%, Potentially Benefiting Lumentum, Coherent, etc.

According to Citrini analyst Jukan, FundaAI's latest report reveals that NVIDIA's NVL576 passive co-packaged optics technology nearly doubles the density of optical engines and optical components. The passive co-packaged optics technology increases the configuration volume of 3.2T optical engines per GPU from approximately 2.25 to around 4.0, an increase of 78%. It is estimated that the demand for Rubin Ultra optical engines will reach about 12 million units.This news may directly benefit direct suppliers of optical engines, including Lumentum, Coherent, POET, among others.

Hex Trust-associated address accumulates $13.01 million worth of H tokens again

According to on-chain analyst Ai Aunt (@ai9684xtpa), Hex Trust’s affiliated entities have again accumulated $13.01 million worth of H tokens, bringing their total holdings to 6.42% of the circulating token supply.

Ethereum co-founder Joseph Lubin's associated address collaterals over 410,000 ETH, health rate recovers to above 1.48

According to monitoring by crypto analyst Ai Yi (@ai_9684xtpa), three addresses highly likely belonging to Ethereum co-founder Joseph Lubin currently collateralize a total of 412,430 ETH, valued at approximately $653 million, and have borrowed 259 million DAI.Data shows that the health rate of these positions briefly fell below 1.2 during yesterday's ETH decline. However, Joseph Lubin's associated addresses subsequently added approximately 110,000 ETH as collateral, bringing the position health rate back above 1.48.Ai Yi stated that Joseph Lubin obtained 540,000 ETH through the Ethereum ICO in 2015 at a cost of approximately $0.31. Based on the current position status, the likelihood of his lending positions being liquidated has significantly decreased.

An early Ethereum holder spent $55.8 million over the past two days to repurchase 35,723 ETH.

According to on-chain analytics platform Lookonchain (@lookonchain), an early Ethereum holder spent $55.8 million over the past two days to purchase 35,723 ETH at an average price of approximately $1,563 per ETH—and may continue accumulating. This address had sold 60,000 ETH and 9,442 wstETH a week earlier at roughly $2,040 each, corresponding to values of approximately $117.25 million and $24 million, respectively.

South Korean investors have continuously increased their positions in China’s hard-tech assets over the past month, with Cambricon net purchased for approximately $19.71 million.

According to the Shanghai Securities Journal, Korean investors have recently continued to increase their investments in China’s hard-tech assets. SEIBro data shows that, as of May 27, the A-share stocks with the highest net settlement purchase amounts by Korean investors over the past month include Cambricon, Megmeet, the ChinaAMC Robotics ETF, CATL, and Sanhua Intelligent Controls—with Cambricon leading at approximately USD 19.71 million.

A whale withdrew 1,723.39 BTC worth $105.58 million from OKX in the past 24 hours

according to Onchain Lens monitoring, a whale withdrew 1,723.39 BTC worth $105.58 million from OKX in the past 24 hours.

Cumulative purchase of $39.1 million in Binance Life; Binance Life whales continue buying $10 million in Binance Life over the past 24 hours

: According to monitoring by crypto analyst 余烬@EmberCN, addresses related to Binance Life continue to accumulate tokens over the past 24 hours. Among them, a chain-based buying address has accumulated 8.62 million Binance Life tokens, worth approximately $6.33 million; another CEX withdrawal address withdrew 5.666 million Binance Life tokens from Binance 8 hours ago, worth approximately $4.07 million.Driven by sustained buying pressure, Binance Life has risen approximately 15% over the past 24 hours. Data shows that since June 1, the aforementioned related addresses have accumulated 56.887 million Binance Life tokens, with a total value of approximately $39.1 million, and an average purchase price of approximately $0.687.

Plasma Team Allegedly Deposits 150 Million XPL Tokens Worth ~$9.64 Million to Binance

According to on-chain analyst Onchain Lens (@OnchainLens), the Plasma team appears to have deposited 150 million XPL tokens—valued at approximately $9.64 million—into Binance five hours ago. The receiving address is suspected to be associated with the Plasma team, but no official statement has yet been issued by Plasma.

Bitcoin falls below 2024 US Election Day closing price

Odaily Bitcoin continued its decline this week, recently trading at $60,619, approximately 12.6% lower than its closing price of around $69,355 on November 5, 2024, the day of the US election. It briefly dipped below $60,000 for the first time since 2024, falling nearly 52% from its all-time high. After Trump's re-election in 2024, Bitcoin surged above $75,000 and reached approximately $109,000 in January 2025. In October 2025, Bitcoin hit a high of $126,080 before dropping from above $121,000 to $106,000 amid a $19 billion liquidation event in the crypto market. In January 2026, Bitcoin ETFs saw net outflows exceeding $1.5 billion. Michael Saylor's Strategy sold 32 Bitcoins worth approximately $2.5 million at the end of May. Trump recently stated that he would not let the crypto industry down. The GENIUS Act was signed into law last year, while the Clarity Act, which passed a committee vote in May, has yet to complete the legislative process. (Decrypt)

Longling Capital deposited 10,000 ETH into Binance and then withdrew 21.94 million USDT

according to monitoring by on-chain analyst Yu Jin, after Longling Capital (0x347...dcf) deposited 10,000 ETH into Binance, its associated address withdrew 21.94 million USDT from Binance. The address holds 95,800 ETH (valued at $149 million) on Aave, has borrowed 91.33 million USDT, and the ETH liquidation price is $1,148.

Bitcoin wallet from the genesis era—involved in a $28.5 billion lawsuit—transfers funds for the first time after 14 years of dormancy

A “Satoshi-era” address—unused since March 2011 and holding 35.55 BTC (approximately $2.54 million)—transferred funds this week. On-chain data shows that on June 2, the address sent 15 BTC to a new address, with the remaining 20.55 BTC retained as change. When the address first received Bitcoin, its price was under $1.

Longling Capital transferred 10,000 ETH, worth $15.68 million, to Binance

According to on-chain analyst Ember's monitoring, 10 minutes ago, Longling Capital transferred 10,000 ETH, worth $15.68 million, to Binance.

Analyst: Coinbase Faces Critical Support Test Next Week; Holding Above $141 Could Trigger a Rally to $185

Crypto analyst Ali posted on X, stating that Coinbase will face a critical technical test next week. If it holds above $141, it could trigger a rebound and potentially rally toward $185; however, if it breaks below this key support level, further downside risk looms, with a potential target near $74. Meanwhile, analyst Hussein Kashmar noted that the weekly support level at $145 is also highly significant—this zone has historically attracted strong buying interest. Market participants are now watching closely to see whether bulls can successfully defend this current support area. Should buying pressure fail to materialize effectively, Coinbase may retreat further into the prior breakout range of $100–$115.

Three major whales face liquidation risk on 345,000 ETH, totaling $537 million

Odaily Odaily报道 According to on-chain analyst Ai Yi's monitoring, three major whales holding a total of 345,000 ETH are facing liquidation risk, with a total value of $537 million. Among them, a whale that has been cyclically longing ETH since February has抵押了 152,195 ETH on Hyperliquid, worth $210 million, spread across two addresses. The current health rate is as low as 1.16, with liquidation prices at $1,355.63 and $1,280.47 respectively. A Binance-linked entity holds 120,000 ETH in long positions on Hyperliquid, worth $188 million, spread across four addresses, currently showing an unrealized loss of $84.48 million, with liquidation prices ranging from $1,241 to $1,272. Additionally, another whale that has been cyclically longing ETH after a five-year dormancy is also facing liquidation risk.

A whale has opened a 20x leveraged short position on BTC, totaling $96.78 million

according to Lookonchain monitoring, over the past 5 hours, a gambler has opened a 20x leveraged short position on BTC, totaling 1,588 BTC (worth $96.78 million), with a liquidation price of $63,939.37.