Analyst: Bitcoin at Key Support Level, Breakdown Could Lead to a Dip to $65,000
On June 1st, Michael van de Poppe, founder of MN Trading Capital, noted Bitcoin is currently trading in a pivotal price range. If the cryptocurrency fails to hold support near $70,000, it could slide below $65,000. However, he emphasized that the market structure of this cycle is drastically different from the downturn seen back in February, so he doesn’t anticipate Bitcoin hitting a new low.
Van de Poppe further identified the $71,000 region as the most critical support level right now. If this level holds, Bitcoin is expected to push past the $76,600 resistance and spark a new bullish phase for the broader crypto market. He added that once this key range is broken, “a new all-time high is likely on the horizon,” with altcoins also poised for strong performance.
Separately, economist Timothy Peterson predicts Bitcoin will see slow, steady gains throughout this summer, peaking around late July—but its overall performance will remain relatively lackluster.
A notable market update: U.
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Bitcoin Mining Firm IREN Completes $3.65 Billion Investment Grade GPU Financing for Microsoft AI Cloud Project
On June 1, IREN, a Nasdaq-traded Bitcoin mining firm, announced it has closed a $3.65 billion investment-grade GPU financing deal to support its AI Cloud agreement with Microsoft.
The financing includes a $2.1 billion U.S. private placement bond offering and a $1.55 billion Delayed Draw Term Loan (DDTL), with a blended financing cost of roughly 6%. Supported by customer prepayments, the funds will cover around 96% of the $5.81 billion GPU capital expenditures for the Microsoft project, cutting the overall cost of capital to 3.31%.
The deal received an “A” rating from Fitch and an “A(low)” from DBRS, making it the highest-rated publicly disclosed investment-grade GPU financing to date—and the first GPU financing transaction in the U.S. private placement market.
IREN said the funding will enable it to expand its AI cloud computing capacity to 480MW by the end of 2026. Goldman Sachs and JPMorgan served as joint lead underwriters and bookrunners for the transaction.
Daniel Roberts, IRE
6 minutes ago
US Stocks Pre-market: Crypto-related Stocks Down, PURR Surges Nearly 20%
June 1, per Bitget market data, U.S. pre-market trading for cryptocurrency-related stocks showed mixed results: MSTR fell 2.57%, COIN dropped 1.80%, CRCL decreased 2.67%, SBET slipped 2.29%, BMNR declined 2.36%, and HOOD edged down 2.77%. By contrast, shares of HYPE Treasury Company’s PURR surged 19.47%.
Earlier on May 8, HYPE Treasury Company’s Hyperliquid Strategies unit released its third-quarter report, revealing it currently holds approximately 20 million HYPE tokens. Since its launch in December 2025, the entity has invested $216 million to acquire around 7.3 million HYPE tokens. Last year, Hyperliquid Strategies went public via a merger with Sonnet BioTherapeutics, with its core strategy focused on maximizing shareholder value by accumulating HYPE tokens through staking, yield optimization, and active engagement with the related ecosystem.
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Beijing's First Space Computing Power Industry Innovation Center Officially Established
June 1 – The Beijing Satellite IoT Industry Development Conference was successfully held in Haidian District, where a major announcement was made: Beijing’s first Space Computing Power Industry Innovation Center was officially launched.
Approved by the Beijing Municipal Commission of Economy and Information Technology, the center is a joint initiative by Beijing University of Posts and Telecommunications (BUPT), supported by leading industry enterprises based in Haidian.
Professor Wang Shangguang, Dean of BUPT’s School of Computer Science, introduced that the center adopts a "Company + Alliance" operational model, focusing on six key research areas across the entire space computing power industry chain: high-reliability, heat-resistant space-native computing chips; high-performance interlinked space computing payloads; space computing satellite platforms and standard systems; large-scale space models constrained by power and reliability limits; integrated space-ground communication,
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Quick Look at Binance US Stock Trading Partners: Self-Clearing Brokerage for Order Flow and Silicon Valley Trader Alpaca Cement Its Dominance in Tokenization
On June 1, Binance’s official website revealed that its U.S. equities business operates on an "Introducing Broker + Clearing Broker" framework: Nest Trading handles order routing, while Alpaca Securities LLC manages trade execution, clearing, settlement, and asset custody.
The introducing broker, Nest Trading Limited (formerly BCI Limited), was authorized as a Broker-Dealer by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) in late 2025, launching formal operations on January 5, 2026. Its approved activities include principal dealing, deal arrangement, asset management, custody services, and custodianship coordination. Paired with Nest Exchange Limited (its trading platform) and Nest Clearing and Custody Limited (its clearing and custody arm), it forms one of three pillars of Binance’s ADGM operations. Headquartered at Office 4607, Addax Tower on Reem Island in Abu Dhabi, its official site is linked to Binance, overseeing OTC trading, Convert (spot
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