Bitcoin Oversold Level Hits New High Since 2020 Pandemic Crash, Analysis Suggests Potential for a $70,000 Technical Rebound
June 6: After a roughly 30% drop over the past month, Bitcoin’s daily Relative Strength Index (RSI) has fallen to around 15.5 — its lowest level since the March 2020 pandemic market crash, signaling the asset is in a severely oversold condition.
Per analysis, comparable RSI levels were seen during the 2020 pandemic sell-off and the February 2026 correction, following which Bitcoin rallied approximately 50% and 30% respectively. Currently, bulls are holding firm at the critical $60,000 support level. If this level holds, Bitcoin is likely to stage a technical bounce toward the ~$70,650 zone (where the 20-day exponential moving average, or EMA, sits) in the coming weeks; a break below $60,000 could push it to test the mid-$50,000 range.
Bitcoin’s short-term holders have seen their profit/loss ratio hit an all-time low, indicating a large number of recent buyers are exiting at a loss, and market sentiment is nearing panic. Crypto analyst Scott Melker noted that roughly 5.3 million Bitco
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Zcash is set to launch the Ironwood upgrade at the end of July, introducing a new Privacy Pool and enhancing overall supply verifiability
**Headline: Zcash Unveils Ironwood Network Upgrade & Shielded Pool, Slated to Launch Late July 2026**
On June 6, the Zcash Open Development Lab (ZODL) — in partnership with Tachyon, Valar Group, Zcash Foundation, and Shielded Labs — announced a new network upgrade and shielded pool named Ironwood, set to go live by the end of July 2026. Exact timing depends on testing progress and alignment with ecosystem stakeholders.
Ironwood builds on the existing Orchard protocol, adding formal verification and independent security audits to reinforce its security. A "Turnstile" mechanism will validate all ZEC supply transferred from Orchard to Ironwood, letting anyone audit Zcash’s circulating supply to boost protocol transparency and safety.
ZODL also shared that a recent integrity vulnerability in Orchard was uncovered during ongoing security research and fixed via a coordinated upgrade. There is no evidence the flaw was exploited, no user funds were compromised, and the total ZEC suppl
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After nearly four years in prison, Do Kwon, still has community members holding the line on Terra Luna Classic and looking forward to an "epic revival."
June 6. Even after Terraform Labs founder Do Kwon got handed a 15-year prison sentence for triggering the $40 billion Terra collapse, the original, abandoned Terra Luna Classic (LUNC) chain hasn’t vanished. A core group of community members is still keeping the network running, holding out hope for one of the biggest comebacks in crypto history.
According to reports, a key LUNC community member going by the name “Vegas” lost roughly $50,000 in the 2022 Terra meltdown. Since then, he’s stayed busy running validator nodes, voting on governance proposals, and coordinating with developer teams. He says despite years of infighting, fraud allegations, and even being falsely reported to regulators, he’s convinced LUNC has what it takes to claw its way back into crypto’s top 10 by market cap.
After the 2022 Terra collapse, Terraform Labs hard-forked to launch a new Terra chain—while the original chain was kept around and rebranded as Terra Luna Classic. Soon after, the community group Terra
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Trump Calls Iran Situation 'Progressing Smoothly' as U.S. Military Keeps Intercepting Missiles, Targeting Radar Sites
June 6 local time, the U.S. Central Command (CENTCOM) announced in a statement that Iran launched seven ballistic missiles at Kuwait and Bahrain on Friday local time. U.S. forces successfully intercepted six of the missiles, while one missed its intended target. Earlier the same day, U.S. military assets also shot down four Iranian drones heading toward the Strait of Hormuz, and subsequently conducted strikes on multiple Iranian coastal surveillance radar facilities to halt further attacks.
The Islamic Revolutionary Guard Corps (IRGC) stated its missile and drone strikes targeted the U.S.-occupied Ali Al-Salem Air Base in Kuwait and the U.S. Fifth Fleet based in Bahrain. Kuwait’s military assisted in intercepting the incoming missiles and drones, while Bahrain briefly activated its air defense sirens in response.
Despite ongoing hostilities, U.S. President Donald Trump commented that the “Iran situation seems to be progressing quite nicely,” adding that the U.S. will “resolve the Ira
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Longling Capital is suspected to have sold 10,000 ETH, withdrew 21.94 million USDT, or further reduce liquidation risk
BREAKING (June 6) – Per EmberCN monitoring, the 10,000 ETH Longling Capital previously transferred to Binance are suspected to have been sold. Meanwhile, the firm’s associated address withdrew 21.94 million USDT from the crypto exchange.
On-chain data shows the address currently holds 95,845 ETH deposited on Aave (valued at ~$149 million), with a borrowed balance of 91.33 million USDT. The liquidation price for its ETH positions is approximately $1,148.
Industry analysis suggests Longling Capital’s partial ETH sale and increased stablecoin holdings this time are likely aimed at optimizing its asset-liability structure, reducing leverage, and lowering the liquidation threshold to improve its position’s safety margin amid market fluctuations.
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SpaceX Completes Two Orbital Launches within 19 Hours, IPO Oversubscribed and Set to Land on Nasdaq on June 12th
June 6 – SpaceX has just set a new record for high-frequency orbital launches: between June 3 and June 4 local time, the aerospace giant launched two Falcon 9 rockets from separate U.S. sites—Vandenberg Space Force Base in California and Cape Canaveral Space Launch Complex in Florida. The missions deployed Starlink satellites: Starlink 17-47 and Starlink 10-43, bringing a total of 53 new satellites into orbit, with liftoffs spaced less than 19 hours apart.
Breakdown of the dual launches: The June 3 mission out of California carried 24 satellites, lifting off at 8:40 a.m. Pacific Time. The June 4 flight from Florida deployed 29 satellites, launching at 6:26 a.m. Eastern Time. Market analysts note this marks a stark shift from most aerospace companies, which still struggle to maintain a stable monthly launch schedule—consecutive orbital launches have become normalized for SpaceX.
In other corporate news, SpaceX is set to debut on the Nasdaq exchange on June 12 under the stock ticker "S
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