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June 6th. Tonight is bound to be a sleepless night for stock and crypto investors. Driven by better-than-expected U.S. employment data, the U.S. stock market opened lower and plunged sharply immediately. As of press time, the downward trend shows no signs of abating, with the Nasdaq down 3.00%. Several previously hyped AI stocks have seen significant pullbacks. The crypto market is even bloodier. As anticipated, the familiar scenario of liquidations and position rebalancing has unfolded. But tonight, multiple whales are riding along with this: One whale, who went long with 104,772.57 WETH on-chain, has suffered partial liquidation. Notably, this is the same whale that bought the dip during El Salvador's February sell-off. Yet times have changed. As this whale helplessly watched their position get liquidated tonight, El Salvador is already on the shore, lamenting the stunning speed of the market slump. Meanwhile, during the on-chain whale liquidation frenzy, several high-profile tr

June 6 — Renowned crypto trader Killa (@KillaXBT) stated that after Bitcoin fell below $60,000 today, a large buy wall appeared on Binance’s BTC market, leading him to note that the so-called “plunge protection team” is making a comeback. Killa also pointed out that in the past, when similar buy walls have emerged, Bitcoin has tended to follow a pattern of short-term suppression followed by a rebound.

June 6: Crypto KOL Ansem (@blknoiz06) advised retail traders to avoid "catching falling knives" during a market crash in a recent post. Unlike large cash buyers who capitalize on forced sell-offs to accumulate assets, retail investors trying to buy into plunging markets face extremely high risk—they’re effectively standing in front of a steamroller. He recommended retail traders wait patiently until panic selling subsides, the market establishes a clear bottom, and higher lows emerge before entering any positions.

On June 6, top crypto trader Killa (@KillaXBT) took to X to declare the current moment a "generational buy opportunity." Previously, Killa shared that he’s already opened a long position on Bitcoin, setting a stop-loss at $31,950 and an ambitious target of $160,000. As a quant trader specializing exclusively in Bitcoin, he boasts an impressive track record: he accurately predicted the peak of this bull market back in May 2025 and has amassed over 180,000 followers on X. For context, Killa was also ahead of Bitcoin’s price moves earlier this year—he shorted BTC at $74,688 in mid-April.

June 6 — According to market data, the daily Relative Strength Index (RSI) for the ETH/USDT trading pair on Binance currently sits at 13.29, registering its all-time low and exceeding levels seen during the on-chain cascading liquidation period in June 2022. For BTC/USDT on the same exchange, the daily RSI now stands at 15.41, which has surpassed the 16.15 reading recorded during the 2011 major crash. This places Bitcoin’s daily RSI at the same level as March 2020, and second only to the November 2018 figure.

On June 6, U.S. stocks extended their intraday decline during trading. Bitget data showed the Nasdaq 100 Index’s losses widened to 3%, while the S&P 500 Index dropped 1.7%. Spot gold plummeted more than 3% intraday, trading at $4,330 per ounce and hitting its lowest level since March 24. Separately, HTX reported that Bitcoin dipped below the $60,000 mark for the first time since October 2024.