The crypto market remains range-bound, with Bitcoin briefly breaking above $74,000. Binance's addition of US stock trading expectations has boosted BNB back to $700.
June 1, per HTX market data, the cryptocurrency market is moving sideways. Bitcoin briefly traded above $74,000 earlier this morning, and is now at $73,691, down 0.22% over the past 24 hours. Ethereum is hovering around $2,000. Binance Coin (BNB) climbed past $700 as the market anticipates Binance will launch live stock trading and on-chain tokenized bStocks today. SOL is currently priced at $82.4. The total global crypto market capitalization is now $2.571 trillion, a 0.1% drop in the last 24 hours.
Notable top-performing altcoins include: PORTAL surged 157% over the past 24 hours to reach $0.031; STG jumped 64% in the same period to $0.38; STRAX gained 38% in 24 hours to $0.016; Binance Life rose 18.7% over the past day to $0.647.
Top declining altcoins for the period: HEI fell 17% in 24 hours to $0.0942; PSG dropped 10.1% over the last day to $0.81; PHA declined 8.9% in 24 hours to $0.039.
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The biggest HYPE bear, Loracle, has reduced his short position to $600 million, with the market watching his $590 million spot movement.
**June 1st Update (via Hyperinsight Telegram Channel @HyperInsight)**
Per Hyperinsight monitoring, the largest short seller of HYPE—known as "Trader Loracle"—has been cutting their short position for over 36 hours. The short exposure has shrunk from $108 million to $60 million, leaving an unrealized loss of $22.5 million.
Separately, the 893,000 HYPE tokens recently unlocked haven’t been moved since being transferred to their HyperEVM address, worth roughly $59 million at current valuations.
Over the past month, this whale has completed two unlocks totaling 1.115 million HYPE tokens (valued at ~$63.51 million). Transparent on-chain records show they sold 557,000 HYPE tokens (worth ~$33.35 million) on May 21st. The market widely anticipates Loracle will sell the newly unlocked 893,000 tokens, likely in lockstep with their ongoing short position reduction.
If Loracle sells these spot HYPE tokens without concurrently closing their short positions, their $104 million HYPE short
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Binance may officially partner with a brokerage firm to offer US stock trading today, with stablecoin outflows of $1.2 billion last month
Binance Officially Teases Major Product Update Today
Crypto community key opinion leaders (KOLs) who decompiled Binance’s latest APK have uncovered details of the exchange’s highly anticipated new feature launching today: Binance will roll out actual U.S. stock trading on its main platform, plus stock tokenization via its bStocks blockchain.
Per the findings, U.S. stocks will be available for trading on Binance, with Alpaca handling custody and clearing services. The exchange is also developing an on-chain securities tokenization business modeled after platforms like Ondo, branded as "bStocks."
Additionally, analyst Darkfost cited CryptoQuant data showing Binance saw a roughly $1.2 billion net outflow of stablecoins in May. This comes after two consecutive months of net inflows, signaling continued liquidity depletion in the broader crypto market. As the world’s largest cryptocurrency exchange, Binance’s stablecoin reserves have dropped from $51 billion in November 2025 to $44 billio
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Trump Reiterates Iran Deal Will "Explicitly State Iran Cannot Have Nuclear Weapons"
On June 1st, U.S. President Trump stated: “As usual, CNN claimed today that the Iran Nuclear Deal I reached doesn’t address the nuclear issue at all. But the fact is, the agreement explicitly states Iran shall not possess nuclear weapons, and it goes into every aspect of nuclear-related matters in extremely detailed, strict terms. In reality, this is the core of most of the deal.”
According to PolyBeats’ monitoring, the current probability of the U.S. and Iran reaching a nuclear agreement before 2027 is 74% on prediction market Polymarket, while the probability of a deal being finalized by the end of June is 41%.
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HYPE Breaks Above $72 to Hit New All-Time High, Surging Over 80% Since May
Here’s the HTX market update on June 1: HYPE has topped $72 to hit a new all-time high, peaking at $72.955 at one point. As of now, it trades at $71.76, notching a more than 6.1% jump in the last 24 hours and an over 80% rise since May 1.
HYPE’s current market capitalization stands at $16 billion, pushing it past Dogecoin (DOGE) to claim the 7th spot on the cryptocurrency market cap rankings (excluding stablecoins). Its Fully Diluted Valuation (FDV) reaches $687 billion.
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Bitcoin Short-Term Rebound Surges Above $74,000
June 1st: Per HTX market data, Bitcoin staged a short-term rebound to break above $74,000. It is currently trading at $73,798, with a 0.03% decrease over the past 24 hours.
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