Standard Chartered: Bitcoin Approaching Bottom, Current Range May Be Ideal Buying Opportunity
June 4 – Amid a sharp downturn in the crypto market, Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered Bank, noted that Bitcoin’s bottom is “almost in place” and its current price zone could present a long-awaited buying opportunity for investors.
Kendrick highlighted that even with Bitcoin’s more than 22% slide over the last month, holdings in physical Bitcoin ETFs haven’t seen the massive, worrying outflows many feared. These holdings have stayed relatively stable since February, signaling that ETF investors’ holding base is far more resilient than anticipated.
He attributes much of this recent dip to Strategy selling 32 Bitcoin (BTC). But drawing on historical patterns from late 2022, Strategy is poised to replenish its holdings on a far larger scale shortly – with repurchases expected to hit 10 to 100 times the amount it sold. Should this buying pressure hold, it would act as a major signal that the market has reached a bottom.
Kendrick is sticking to his
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Futu will suspend buying (opening) trades for existing accounts in China starting from June 12th.
June 4, Futu Holdings announced that it will adjust its services for existing investors in mainland China to comply with industry regulatory mandates requiring a two-year rectification period, which aims to promote the standardized development of cross-border securities operations. Effective June 12, 2026 (Beijing time), the firm’s investment accounts will undergo the following adjustments:
1. Mainland China Trading Services: All types of buy (long) trades will be suspended, while sell (close) trades will remain available.
2. Mainland China Fund Transfer Services: Fund deposit services will be suspended.
(Source: Jinse)
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Analysis: Over Half of Bitcoin Holdings in Unrealized Loss, Historical Bear Market Bottom Indicator Triggered Again
On June 4, Glassnode data showed that as Bitcoin dipped briefly to $61,300, the number of unrealized BTC holdings hit roughly 10.5 million—surpassing the 9.8 million BTC currently in a profitable state for the first time in this market cycle. Making up over half of Bitcoin’s circulating supply, this marks the first time in the current cycle that loss-making coins have outnumbered profit-making ones.
Historical data indicates this metric has only emerged during deep bear market phases in Bitcoin’s history, and has typically aligned with key market bottoms. Similar instances occurred during the 2015, 2019, 2020, and 2022 bear markets, with these stretches lasting between one month and a full year.
Meanwhile, Bitcoin touched its 200-week moving average at around $61,300—a critical long-term support level that held firm during previous bear cycles. Analysts warn that if BTC drops below the $60,000 psychological threshold, the next major support level will be near the realized price of ro
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Graviton Launches Korean Stock Perpetual Futures, Expands On-Chain RWA Pairs to 74
June 4. Decentralized crypto exchange Grvt announced the launch of Korean stock-based perpetual futures contracts, with its first batch covering Samsung, SK Hynix, and Hyundai. Traders can access round-the-clock trading and maintain full self-custody of their assets throughout all transactions.
This launch comes as the Korean stock market leads global performance. Fueled by the global AI boom and surging demand for high-bandwidth memory (HBM), the KOSPI index has jumped nearly 100% this year, catapulting Korea to become the world’s sixth-largest stock market—with Samsung and SK Hynix making up roughly half of the index’s total value.
Back in February of this year, Grvt expanded its real-world asset (RWA) trading pairs to 74, spanning stocks, private companies, ETFs, and commodities (including names like OpenAI, Anthropic, NVIDIA, gold, and oil), consistently bridging traditional market assets to the blockchain. Grvt has stated its intention to further expand global asset coverage, wi
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Citigroup Raises Oracle Price Target from $320 to $330
On June 4, Citigroup lifted its Oracle price target to $330 from $320.
Barclays boosted its price targets for CrowdStrike (CRWD.O) and ASML Holding, raising the former to $675 from $650 and the latter to €1,900 from €1,575, according to FX Street.
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Trader Loracle Turns Bullish, Joins Long Positions, HYPE Long Size Reaches $8.6 Million
June 4 — Hyperinsight (via its Telegram channel @HyperInsight) reports that Trader Loracle, HYPE’s former largest short seller, has flipped from short to long across its entire position, accumulating long positions in seven assets: HYPE, ZEC, WLD, TON, ASTER, NEAR, and XMR.
HYPE remains Loracle’s top long allocation. The trader opened a 2x-leveraged HYPE long yesterday and added to the position during today’s price dip, bringing the total long size to $8.6 million.
Loracle currently holds 892,500 HYPE spot tokens valued at ~$60.7 million. With the futures longs added, their HYPE exposure is now fully bullish. All long positions except XMR are sitting with unrealized losses of varying degrees.
Wallet address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae
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