Tom Lee: Selling BTC as a Strategy Seems More Like a Typical Bottoming Market Behavior

June 2nd — Movement, the Ethereum Layer 2 blockchain project that faced controversy shortly after its launch last year, is now undergoing a comprehensive transformation. Torab Torabi, Move Industries’ newly appointed CEO, stated that the project has been repositioned as an independent Layer 1 blockchain, with its core new goal being to become the settlement infrastructure for stablecoins in emerging markets. Move Industries announced Tuesday that over the past several months, the company has gained access to a compliant payment network covering the U.S., Canada, and the European Union through partnerships with regulated remittance firms and digital currency institutions — laying the foundation for stablecoin payments and cross-border settlement services. Per the announcement, Move has formed partnerships with stablecoin issuer Circle, wallet projects KAST and Sorted, and tokenization projects Oro, Yuzu Money, and Zoth. Additionally, Avant Protocol selected the Movement Network as the

Per Bitget market data, U.S. crypto-related stocks traded mostly lower in pre-market activity on June 2. Key moves: CRCL down 2.48%, MARA down 1.95%, COIN down 2.63%, BMNR down 1.38%, and MSTR tumbling 3.93%.

June 2 – Robinhood has launched spot trading for BIO and AXS, per its official website.

June 2nd: HTX market data shows Bitcoin fell below $69,000, currently trading at $68,979, with a 4.35% decrease over the past 24 hours.

June 2 — Canadian publicly traded company SOL Strategies announced Tuesday it has completed its previously disclosed acquisition of Houdini Swap, a $18 million transaction structured via a combination of cash and SOL Strategies common stock. Houdini Swap is a privacy-focused, non-custodial cross-chain transaction aggregation platform. To date, it has processed roughly $2.5 billion in total cross-chain exchange volume, and is projected to generate more than $13 million in revenue by 2025 through partnerships with 32 exchanges. SOL Strategies noted the acquisition strengthens its position in the Solana ecosystem. Beyond its existing validator infrastructure and liquidity staking businesses, the company has now added a nearly three-year-old trading operation with consistent revenue growth and significant transaction volume, expanding its digital asset infrastructure footprint. The deal was first announced on May 4, 2026, and has now been formally finalized.

June 2nd, per Coinglass data: If Bitcoin dips below $67,000, total long liquidations across major centralized crypto exchanges (CEXs) will hit $776 million. Conversely, if Bitcoin surges past $71,000, total short liquidations on these leading CEXs will reach $903 million. BlockBeats Note: Liquidation charts don’t display exact contract counts or their precise liquidation values. The bars on these charts represent the "strength" of each liquidation cluster—their relative importance compared to neighboring clusters. This means the chart shows how sharply the underlying asset’s price will react when it hits a specific level. A higher liquidation bar signals that reaching that price point will trigger a more intense price move due to a liquidity cascade effect.