June 5th

Bitcoin drops below 62,000
Ethereum drops below 1,700
There are 5 main reasons for this round of sharp decline

(2) Institutions are withdrawing
Bitcoin ETF has been outflowing for 13 consecutive days, with over $3 billion flowing out in the past two weeks. Institutions are not taking the risk, so the market is naturally weak.

(2) Tech stocks crash hard
Nvidia's negative news triggered panic, South Korea's KOSPI plummeted triggering a circuit breaker, risk assets are being hammered together

(3) ZEC black swan
ZEC's unlimited issuance vulnerability was exposed, causing a sharp price drop. Hayes liquidated his holdings, spreading market panic

(4) US stock IPO bloodsucking
SpaceX, Anthropic, YuShu, Zhipu AI, and others are lining up for IPOs. Funds are chasing AI and rockets, draining the crypto market

(5) Non-farm payroll data suppresses the market
The non-farm payroll report will be released tonight at 8:30 PM. Everyone is waiting, no one dares to act

The most important thing now is to hold your hands

Wait for the data to land, wait for the sentiment to stabilize before acting, don’t rush #btc #eth