Crypto News & Market Updates

BlockBeats reported on June 3 that Peter Brandt, a renowned trader and chart analyst who successfully predicted Bitcoin's 2018 crash, posted yesterday stating that Bitcoin is currently forming an expanding triangle pattern, which is relatively common and generally reliable in Bitcoin's history, targeting the height of the breakout point projection pattern. According to the extended triangle measurement rules: target = pattern height projected downward from the breakout point. Its accompanying diagram shows a widened triangle (with the upper and lower bands gradually diverging). The breakout point is roughly around $74,000 (marked as 74,395 in the chart), and after projecting the pattern height (from the highest to the lowest point at the widest part of the triangle), the arrow points to the area around $56,000.

According to ChainCatcher and official social media, Huobi HTX will hold an event today at 20:00 (UTC+8) titled "Consecutive ETF Outflows, Bitcoin Decoupling from US Stocks—Are Institutions Running or Waiting?" "Themed live broadcast." At that time, crypto KOLs such as Hoshino Sasaki, Sevth7, Kid, and Grace will engage in in-depth discussions on recent market hot topics such as the continuous outflow of Bitcoin ETF funds, the declining correlation between BTC and US stocks, and changes in institutional fund allocation logic. They will jointly analyze current market sentiment and capital flows, and explore the future direction of the crypto market.

BlockBeats reports that on June 3, according to analyst Adler's latest post, the Bitcoin Impulse indicator, which reflects Bitcoin's price momentum, has dropped to -59, indicating a rapid shift in market momentum; Meanwhile, the 30-day Net Taker Volume Position Change indicator, which measures changes in active buying and selling pressure, has also fallen below zero for the first time in nearly three months, indicating that the active buying demand that drove the previous rally has basically been exhausted. Momentum indicators usually lead changes in capital flows. Currently, both fast and slow momentum indicators are in deep negative territory, with fast momentum close to -90, while slow momentum has quickly dropped to -59 after falling below zero at the end of May. On the other hand, although the 30-day active buying demand indicator has just turned negative, it has not yet entered the 'bear market zone.' Adler believes the current market is transitioning from a "buy-side dominated" phase to a "seller-dominated" phase, with overall risk appetite in a state of decline (Risk-off). If active buying demand further declines and enters the bear market zone, while momentum remains negative, it will further confirm the bearish market trend; Conversely, if active buying returns above the zero axis, it may provide a rebound opportunity for the market.

According to Bijie.com, ByteDance's Volcano Engine raised its annual revenue target for its MaaS business to 15 billion yuan in April 2026, a 50% increase compared to the target set at the end of 2025. The new target is ten times the actual MaaS revenue of 1.5 billion yuan by 2025. Sources close to Volcano revealed that the daily consumption of Volcano Engine tokens is still maintaining a rapid monthly growth of nearly 40%. The core driver of this explosive revenue growth is the video large model Seedance 2.0. Since its release on February 10, 2026, and topping the video blind test arena (ELO at 1269), the model has rapidly penetrated the short drama industry, with a current market penetration rate of about 95%. Several industry insiders revealed that just the Seedance 2.0 model alone can generate over 1 billion yuan in monthly revenue for Volcano Engine, and since the API has not yet been fully launched overseas, this figure is still in the climbing phase. ByteDance has adopted strategies such as whitelisting to provide users with a stable supply of full-power models for those who sign up for the annual framework. Currently, Seedance 2.0 ranks second in the global video model market share, just behind Google's VEO.

Odaily Planet Daily reports that Japanese government bond yields continue to rise, with the 2-year yield rising to 1.400% and the 20-year yield increasing to 3.535%. (Jin Shi)

Odaily Planet Daily reports that Kuaishou (01024.HK)'s video generation business, Keling AI, is conducting its first round of financing since the spin-off, with a pre-investment valuation of $18 billion. This is also Keling AI's pre-IPO round of financing. It is understood that Keling AI is currently advancing related work internally, aiming to submit the Hong Kong stock listing application materials by early 2027. (IPO Early Know)

BlockBeats reported on June 3 that according to Reuters, the UK Financial Conduct Authority (FCA) has issued a warning to football clubs, including Premier League clubs, stating that entering into sponsorship agreements with unauthorized cryptocurrency companies and trading platforms could expose clubs to legal liability, money laundering risks, and reputational damage. The FCA stated that some crypto companies without UK operating licenses are using football sponsorships to reach large fan bases, allegedly violating UK financial promotion rules. Regulators have contacted some clubs regarding the partnerships and have urged enhanced due diligence among partners. Lucy Castledine, FCA's Head of Consumer Investment, said millions of fans trust the club's brand, and clubs should not allow unauthorized financial institutions to exploit this trust to promote potentially risky products to fans. UK Sports Secretary Stephanie Peacock also stated that while sponsorship revenue is vital to the football industry, fans have the right to know whether the businesses they partner with clubs are safe, responsible, and compliant.

According to Bijie.com, the largest ETH long seller added $5.7 million in margin this morning to save themselves, with floating losses once reaching $51.5 million. Currently, the unrealized loss has narrowed slightly to $47.5 million. The initial investment for this address was about $16.5 million, with losses nearly three times the principal. Monitoring shows that the liquidation price for this address reached as high as $1,716. To avoid triggering forced liquidations, the address urgently replenished margin for three addresses in the past six hours, totaling about $5.74 million, with the recent liquidation line lowered to $1,573. Currently, this whale has long 120,000 ETH (about $224 million) on HyperLiquid, with an overall weighted leverage of about 18 times and an average entry price of about $2,270.

Odaily Planet Daily reports, citing Iran's Tasnim News Agency, Iranian lawmakers have called for tougher action against the United States, stating that "Americans only know how to use force." Esmail Khosari, a member of Iran's National Security and Foreign Policy Council, called for a stronger response to U.S. aggression, saying the U.S. actions stem from their "satanic mentality." (Jin Shi)