Tracking real-time hot topics in the crypto world and seizing the best trading opportunities. Today is Sunday, June 7, 2026. I am Wang Yibo! Good morning, fellow crypto friends☀ Hardcore fans check-in👍 Like and get rich🍗🍗🌹🌹

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In the past week, the crypto market experienced the most brutal unilateral slaughter since 2026. Bitcoin plummeted from above 74,000 to 59,100, Ethereum was cut in half from 2020 levels to 1,504, hitting a new low for the year. Over $7 billion in liquidations across the network, panic spreading. Macro rate hike expectations surged sharply; the US May non-farm payrolls far exceeded expectations, wages accelerated, and the market’s expectation of rate cuts this year was completely shattered, even starting to discuss rate hikes. The US dollar index and US Treasury yields rose, with Bitcoin, as a non-yield asset, bearing the brunt. The US spot Bitcoin ETF has experienced 13 consecutive days of net outflows, with about $3.4 billion flowing out in the past week, setting a record. BlackRock, Fidelity, and others have concentrated on reducing holdings, turning net inflow into net outflow for the year, crushing the “institutional bull” narrative. Bullish benchmarks have wavered, with small reductions in holdings for the first time; abnormal activity in the Gate.io wallet, combined with AI-driven US stock siphoning effects, caused retail panic selling, leveraged positions exploding in chain liquidations. All negative news has been fully priced in through sharp price declines. This storm was triggered by macro rate hike expectations, historic ETF fund withdrawals, and wavering bullish benchmarks resonating together. However, price remains the best risk release. The current position has entered our long-term tracked core area for spot accumulation, and opportunities are brewing amid panic. Yibo will continue to monitor macro data, institutional fund flows, and on-chain changes, updating strategies in real time.

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Bitcoin: Weekly low of 59,100, exactly touching the bottom support zone from December 2025 (around 59,000-60,000). Daily close near 60,890, with a clear lower shadow indicating strong buy support in this area. Deeper support levels are at 57,000-55,000, but 59,100 already has initial value for phased accumulation. The first buy zone is around 59,000-60,000; the second is reserved for 55,000-52,000 for additional buys. Mid-term target is 80,000-85,000, with continued focus on testing the 100,000 mark by year-end. Short-term support at 59,000-60,000 (already validated); if a second bottom does not break, a double bottom pattern is forming. Resistance at 62,200-63,500 (200-week moving average and previous platform). Breakthrough targets are 64,800-65,500.

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Ethereum: Weekly low of 1,504, precisely hitting the long-term trendline support at the weekly level (bottom of 1,520-1,550). This level is the launch platform of the 2025 bull market and the core cost zone for DeFi and Layer 2 ecosystems, with very limited space remaining. Current price around 1,568, indicating severe oversold conditions. The first spot buy is in the 1,500-1,550 range; the second is in the 1,250-1,380 range for additional accumulation. Targets are 2,200-2,500 (medium to short term), with year-end goals of 3,200-3,500. Short-term support at 1,500-1,520 (strong weekly support), with extreme support at 1,380; resistance at 1,635-1,650, with strong resistance at 1,685-1,720.

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Altcoins: Generally down 25%-40%, most have returned to the intermediate platform of the 2025 bull market, with bubbles significantly deflated. Some mainstream altcoins’ accumulation positions can be followed in my pinned dynamic details.