News linked to both this project and an event.
According to Onchain Lens monitoring, a blockchain address associated with BIT has deposited 2.8 million ASTER tokens into Binance, valued at approximately $1.77 million at the current market price.
According to an independent analyst report by Markus Thielen on June 9, just days remain before SpaceX’s IPO, and market expectations continue to intensify. There is currently little indication that SpaceX will raise its expected offering price of $135, suggesting the targeted fundraising amount of $7.5 billion has already been substantially subscribed. Meanwhile, pre-IPO synthetic perpetual contracts tied to SpaceX are trading at $157 on Hyperliquid and $169 on Binance—both significantly above the expected offering price—with implied valuations on both platforms approaching $2 trillion. Although prices have retreated from earlier highs near $200, prediction markets still assign a 68% probability that SpaceX’s valuation will exceed $2 trillion by year-end, reflecting traders’ broad expectation of a strong IPO performance.
BIT Group posted on X platform, stating that with only days remaining until the SpaceX IPO, market expectations are heating up, with a general consensus that the stock is likely to perform well post-listing. Unlike many recent IPOs, there are currently few signs that SpaceX will raise its offering price, indicating that the target fundraising amount of $75 billion has already received fairly sufficient subscription coverage.Meanwhile, SpaceX-related pre-IPO synthetic perpetual contracts are trading at around $157 on Hyperliquid (calculated based on the old 11.9 billion share count) and quoting $169 on Binance, both significantly higher than the expected IPO price of $135. Although prices have fallen from around $200 a few days ago and undergone a repricing, the current implied valuations on both platforms still approach nearly $2 trillion, indicating that traders still anticipate a strong market debut for SpaceX. Prediction markets are also leaning towards optimism, with the current probability of SpaceX's valuation exceeding $2 trillion by the end of the year standing at 68%.
According to BIT’s official Chinese-language account (@BITofficial_CN) market recap, the crypto market as a whole faced pressure last week. BTC declined from approximately $73,400 on June 1 to around $63,100 on Monday this week, with an intraday low of $61,400; ETH also fell in tandem to roughly $1,680. On the funding front, BTC spot ETFs recorded net outflows for 13 consecutive trading days, totaling approximately $4.4 billion in outflows. Compounded by whale selling and concerns over Mt. Gox wallet transfers, short-term selling pressure continued to intensify. As BTC approaches the critical support level of $60,000, the market posted an initial rebound within the past 24 hours. Going forward, key factors to monitor include whether ETF inflows resume, whether the $60,000 support level holds, and how this week’s CPI data impacts risk sentiment.
BIT's weekly market review indicates the crypto market continued its weakness last week. BTC fell from approximately $73,400 on June 1st to around $63,100 on Monday morning this week, dipping to about $61,400 during trading on June 4th. ETH faced similar pressure, dropping to around $1,680.BIT stated that the core factor behind this adjustment remains financial pressure. The BTC spot ETF experienced net outflows for 13 consecutive trading days, totaling approximately $4.4 billion. Meanwhile, whale sell-offs and expectations surrounding the transfer of Mt.Gox-related wallets further exacerbated market selling pressure.The report points out that as BTC approached the key support level of $60,000, the market has seen a preliminary rebound in the past 24 hours. Going forward, key areas to monitor include whether ETF capital continues to flow back, whether the $60,000 support level can hold, and the impact of this week's U.S. CPI data on market risk appetite.
BIT tweeted that Strategy’s buying momentum may weaken. However, despite the market’s current widespread focus on Strategy in the crypto space, two principles remain paramount: “trade with the trend” and “follow the money.” When liquidity reverses, it typically signals a shift in the market environment—making premature bottom-fishing highly risky.
According to on-chain analyst Onchain Lens (@OnchainLens), as the ETH price fell below $1,700, BIT-affiliated whales currently hold 15–20x long positions on 120,000 ETH, resulting in unrealized losses exceeding $69 million and accumulated funding payments of $1.86 million; these positions remain open.
According to independent analyst Markus Thielen, Strategy’s recent small-scale Bitcoin sale following its May earnings call was interpreted by the market as a test of market reaction and the flexibility of its capital allocation strategy. Analysts noted that while Strategy remains highly bullish on Bitcoin, the success and expansion of its STRC preferred stock financing instrument may take precedence in its overall financial arrangements. This move breaks the company’s “buy-only, never-sell” market image maintained for nearly six years; given Strategy’s strong influence on Bitcoin demand, this shift is quietly reshaping market expectations.
According to independent analyst Markus Thielen, Bitcoin is down 16% year-to-date and is entering its historically seasonally weak June window—over the past decade, June’s average return has been just +0.7%. However, this year’s May rally significantly underperformed the historical average, raising the probability of a seasonal reversal. Meanwhile, several catalysts are set to materialize soon, including U.S.-regulated crypto perpetual futures products and Nasdaq CME Crypto Index Futures (scheduled for launch on June 8). If these bring new buying support, Bitcoin could stage a short-term rebound.
According to Lookonchain monitoring, a whale associated with BIT created a new account and deposited 5 million USDC, then opened a 20x leveraged long position of 500 BTC, with a position value of approximately $36.5 million.
According to Hyperinsight’s monitoring, ETH’s price temporarily retreated to around $2,000. On Hyperliquid, the largest ETH long position—held by the “BIT-affiliated whale”—saw all four addresses under its control simultaneously incur unrealized losses, totaling $33.86 million. Based on its estimated entry capital of approximately $16.5 million, the current unrealized loss has already exceeded the position’s initial capital by more than double.
Odaily Planet Daily reports that BIT's chart of the day indicates that the key to market analysis often lies in identifying the core factors driving asset price movements and observing when these factors begin to change.For Bitcoin, the sustained upward trend over the past period has largely depended on the shifting dynamic between institutional demand and market supply. Over the past year, spot Bitcoin ETFs and Strategy (formerly MicroStrategy) have been important sources of this demand.When ETF inflows accelerate and Strategy continues to increase its Bitcoin holdings, Bitcoin prices typically rise. Currently, the combined net purchases of ETFs and Strategy have fallen to just $870 million, primarily due to significant capital outflows from ETFs, which have shifted from net buying to net selling.Until ETF inflows stabilize and recover, Bitcoin may continue to oscillate and consolidate in the short term.
According to independent analyst Markus Thielen, HYPE has become one of the strongest-performing tokens in the crypto market since the outbreak of the Iran conflict, surging over 100% from its 2026 lows—with particularly pronounced outperformance relative to Bitcoin. The core driver behind this strength lies in Hyperliquid’s ongoing expansion beyond crypto into other asset classes, having successively launched TradFi-linked products such as oil and SpaceX perpetual contracts, thereby attracting substantial capital inflows. Thielen notes that this trend reflects a broader acceleration by crypto exchanges into high-volatility, topical traditional financial derivatives—and signals that the intrinsic value of crypto infrastructure itself is gradually surpassing the crypto narrative. Although HYPE is already a highly crowded long position with strong conviction among market participants, its current momentum remains robust.
According to chart analysis released by independent analyst Markus Thielen on May 19, the current market capitalization of USDT has reached $189.8 billion, while that of USDC stands at $76.9 billion—both exhibiting long-term upward trends. However, since Bitcoin entered a correction phase in October last year, the total market capitalization of stablecoins has remained largely flat, indicating relatively limited inflows of new capital into the crypto market. Thielen noted that although there is a widespread belief that stablecoins will fully replace traditional payment networks, their primary use cases remain concentrated on crypto trading and portfolio management—still far from achieving mainstream payment adoption. While U.S. policy broadly supports stablecoin development—partly because their reserve assets are often reallocated into U.S. Treasury securities—the gap between current usage and true mainstream payment application remains substantial.
Odaily released the latest analysis chart indicating that Ethereum's recent price movements are increasingly dominated by ETF fund flows. Over the past year, the 30-day moving average of daily net inflows for ETH ETFs has been highly synchronized with ETH's price performance, showing a marked increase in Ethereum's sensitivity to institutional fund flows.BIT points out that one of Ethereum's current core narratives is its net staking yield of approximately 2.5%. However, against the backdrop of accelerating inflation again and the U.S. 10-year Treasury yield rising above 4.6%, Ethereum's staking yield advantage is weakening compared to risk-free assets like U.S. Treasuries.Furthermore, ETF outflows from Ethereum have resumed since May. BIT believes that if this trend continues, Ethereum is likely to maintain a consolidation and range-bound trajectory.
According to chart analysis released by independent analyst Markus Thielen on May 18, the 30-day moving average of daily net inflows into ETH ETFs over the past year has been highly synchronized with Ethereum’s price movement, making institutional fund flows a core driver of ETH’s price. However, as U.S. 10-year Treasury yields rise above 4.6% and inflation accelerates again, Ethereum’s ~2.5% net staking yield is losing appeal relative to risk-free assets. Since May, ETH ETFs have seen renewed net outflows; if this trend persists, Ethereum’s price is highly likely to remain in a range-bound consolidation pattern.
on Lookonchain monitoring that a BIT-related whale added to its ETH long position during the market downturn. The position now holds 120,000 ETH, valued at $254 million, with an unrealized loss of $17.5 million.
According to Lookonchain monitoring, a whale suspected to be associated with BIT increased its long position in ETH during the market downturn. The whale has previously realized a profit of $59 million and currently holds 114,160 ETH in long positions across 4 wallets, with a position value of $248.65 million and an unrealized loss of $10.3 million.
According to Onchain Lens monitoring, a wallet linked to BIT has sold its final 99,612 HYPE tokens.Data shows that the address has sold a total of 403,290 HYPE tokens, exchanging them for approximately 16.88 million USDC at an average selling price of around $41.86, and has now completed the full liquidation.
According to on-chain analyst Onchain Lens (@OnchainLens), a wallet associated with BIT previously deposited 403,290 HYPE tokens (worth approximately $17.3 million) into HyperLiquid, then sold 200,000 HYPE in two batches, realizing $8.447 million in USDC at an average price of ~$42.24 per HYPE. The wallet currently holds 203,290 HYPE, valued at approximately $8.65 million.