U.S. Stock Market Opens with Major Indexes Up

June 9 — Crypto reporter Eleanor Terrett reports that Republican members of the U.S. House Ways and Means Committee have unveiled six standalone bills, alongside a discussion draft, ahead of Wednesday’s 2 p.m. local-time cryptocurrency tax hearing. The proposals are crafted to systematically adjust the country’s cryptocurrency tax framework. The legislative package spans key areas including crypto donation rules, taxation of mining and staking rewards, mandatory reporting requirements, equal tax treatment for digital assets, voluntary disclosure mechanisms, and extending existing tax anti-abuse rules to cover the digital asset space. The separate discussion draft focuses specifically on cracking down on cryptocurrency tax avoidance through offshore structures, aimed at boosting regulatory constraints and compliance obligations. Committee leadership stated the bills are designed to bring clarity, fairness, and operational practicality to digital asset regulations, while upholding the

June 9: U.S. optical communications stocks saw broad declines, per Bitget market data. On May 28, the newly launched Pure Photonic ETF (ticker: FOTO) slumped 3.01%. Below are key individual stock moves: - Marvell Technology (MRVL): A stock previously touted by George Huang as the next trillion-dollar market cap firm, it slid 6.69%. - Applied Optoelectronics (AAOI): The maker of high-speed 800G/1.6T optical modules focused on AI data center transceivers, dropped 7.13%. - Lumentum Holdings (LITE): A top supplier of optical communications lasers and modules for AI data centers, fell 3.48%. - Coherent Corp. (COHR): A leader in lasers, optical components, and photonics solutions for data centers and industrial sectors, declined 7.02%. - Ciena Corp. (CIEN): Which produces high-speed SerDes and interconnect chips focused on low-power solutions for AI data centers, slipped 4.61%. - Fabrinet (FN): A leading contract manufacturer of high-end optical modules for multiple industry play

On June 9, the Chief of Staff of the Israel Defense Forces (IDF) stated that the IDF is prepared to immediately return to combat with Iran at any moment. The recent strikes on Iran represent a prelude to an even stronger and more severe blow. (Golden Ten)

On June 9, a Bitfinex analyst published a report noting that Bitcoin has shifted from the "accumulation phase" — which fueled its recent price rally — into a "distribution phase." Data highlights that after robust buying pressure between April and May, the spot volume delta has swung sharply negative, signaling early market entrants are steadily selling off during the current weak period, rather than holding or adding to their positions. The analyst added that short-term holders’ average cost basis has fallen below the market’s true average of $77,800, meaning a large portion of recent capital inflows are now sitting at unrealized losses — adding fresh selling pressure every time prices rebound. Bitfinex noted in the report: "Both on-chain and fund flow data confirm the current market is leaning toward a distribution-driven phase, rather than a classic panic bottom." The exchange stated that until spot demand makes a meaningful recovery, the broader market will stay in a defensive pos

On June 9, HTX market data shows Bitcoin dipped below the $62,000 mark, currently trading at $61,997, posting a 2.69% drop over the past 24 hours.

June 9 figures from Coinglass show that if Bitcoin falls below $60,000, cumulative long liquidation intensity on major centralized exchanges (CEXs) will hit $823 million. Conversely, if Bitcoin climbs above $64,000, cumulative short liquidation intensity across the same platforms will reach $981 million. BlockBeats Note: The liquidation chart does not display the exact count or precise value of contracts set to be liquidated. The bars on the chart instead represent the relative importance of each liquidation cluster compared to neighboring clusters—this "intensity" is the key metric here. For this reason, the chart illustrates how much the underlying asset’s price will be impacted when it hits a specific level. A taller "liquidation bar" means reaching that price threshold will trigger a stronger reaction due to a liquidity cascade.