Bitcoin Falls Below $61,000

June 6, Dragonfly Capital partner Haseeb Qureshi broke down a recently patched Zcash vulnerability, noting that if bad actors had exploited the flaw before the fix, the outcome would’ve looked a lot like a privacy pool drain. If someone minted fake privacy ZEC, they would’ve had to offload it quickly before others caught onto the same gap—but here’s the catch: most of ZEC’s major trading platforms only handle transparent ZEC. Attackers can’t sell newly minted privacy ZEC directly on Binance or Coinbase; they have to first de-shield it. In this scenario, the real hit lands on regular passive privacy holders. Transparent ZEC is fully public, so it’s easy to enforce that total supply doesn’t exceed the cap—if someone tried to de-shield and move more than the limit, it’d get blocked at the exit. For transparent ZEC holders, including exchange users and those driving ZEC price discovery, the vulnerability has zero meaningful impact; any losses would be entirely borne by privacy ZEC holders

June 6 — Per data from Farside Investors, net inflows into U.S. spot Bitcoin and Ethereum ETFs held for just one day before returning to net outflows yesterday. The U.S. spot Bitcoin ETF recorded a net outflow of $325.7 million yesterday, with BlackRock’s IBIT seeing a $213.7 million net outflow. Meanwhile, the U.S. spot Ethereum ETF posted a net outflow of $6 million yesterday, and BlackRock’s ETHA reported a net outflow of $13.2 million.

On June 6, Nasdaq-listed Bitcoin mining firm Bitdeer posted its latest Bitcoin holdings data on the X platform. For the week ending June 5, the company mined 205.3 BTC, sold exactly that amount, leading to a net addition of 0 BTC—meaning it currently holds zero BTC in reserves.

June 6 — According to LookOnChain's monitoring, the Pando Rings hacker purchased 6,243 ETH for 10 million DAI approximately 6 hours ago, at a unit price of $1,602 each.

June 6th — On-chain analyst Murphy shared in a post that Bitcoin (BTC) dipped below the $60,000 threshold yesterday, though the market’s losses aren’t aligning with sentiment indicators. Currently, the 3-day moving average of adjusted on-chain realized loss (EARL) stands at $1.13 billion, nearly half of its value on February 5. While he stops short of ruling out further downside for BTC, the fact that EARL isn’t rising even at lower price levels is a classic signal of “bottoming expectations.” To clarify: EARL reflects the broader market’s level of fear, while STH-RUL (Short-Term Holder Relative Unrealized Loss) measures the psychological pressure facing new investors. During the early stages of a bear market downtrend, short-term holders typically face extreme psychological strain, pushing STH-RUL above +5 standard deviations — a level that often correlates with a systemic crisis. Later, even if prices continue falling, STH-RUL rarely hits its prior peak; this is because chips have

June 6: Cathie Wood, founder of Ark Invest, stated in a recent post that the latest U.S. jobs report shows strong results—but the market is misinterpreting them. Non-farm payrolls rose by 172,000, far exceeding the consensus forecast of 88,000, yet the market still sold off following the data release. Wood explains the market is assuming stronger-than-expected employment and economic growth will speed up inflation, but historical trends don’t back this view. Currently, U.S. productivity growth is near 3%, while unit labor costs sit around 0.5%—this isn’t a sign of inflationary overheating, she notes, but rather healthy growth driven by productivity gains that will ultimately reduce inflation over the long term. Despite oil prices rising roughly 55% year-over-year (on a three-month moving average basis), the yield curve remains flat. Wood says the bond market is pricing in a more powerful force: deflationary pressures from technological innovation, especially AI, which is now boosting