Whale "Sets 10 Big Goals First" to Close Bitcoin Short Positions, Profits $3.3 Million

June 2 — Bitmine Immersion (BMNR) Chairman Tom Lee stated in a recent interview that current market jitters over institutional trends and insider selling are more indicative of a market bottoming out than a sustained bearish trend. Lee downplayed market concerns about Michael Saylor, Chairman of Strategy Execution, selling 32 Bitcoin during Tuesday’s interview. “Michael had already made his plan to sell some Bitcoin public earlier, so this is just him following through on that pre-set schedule,” Lee explained. “At the end of the day, he still holds 99.99% of his total Bitcoin holdings—he only generates real profits if Bitcoin’s price rises.” Saylor sold the 32 Bitcoin at an average price of roughly $77,135, netting around $2.5 million to cover preferred stock dividends. This marks Strategy’s first Bitcoin sale in nearly four years, sparking market speculation that this prominent corporate Bitcoin holder might be shifting its long-term hodling strategy.

On June 2, per a CNBC report, prediction market platform Polymarket has closed its first large-scale institutional transaction linked to AI compute power infrastructure. The six-figure U.S. dollar deal was executed by digital asset broker FalconX and trading tech startup Anera Labs. The contract ties to the Ornn Compute Price Index—a key benchmark tracking rental rates for NVIDIA H100 GPU chips, the primary metric for measuring AI compute costs. “Prediction markets are fast emerging as one of the most promising platforms for institutions to conduct large-volume trades, and this transaction is clear proof,” said Brooke Rizzetto, Polymarket’s Head of Institutional Liquidity. “To see institutional trading counterparties leverage Polymarket to hedge massive real-world GPU compute power exposure is exactly the future we’ve been working to build.”

June 2: Glassnode shared in a recent post that Bitcoin has dropped to $69,500, with long-term holders currently facing a 15.5% average relative unrealized loss. To put that in context: For every $1 worth of Bitcoin long-term investors hold, they’re currently sitting on roughly $0.155 in average unrealized losses. During the extreme bottom phases of past market cycles, this metric has climbed above 50%—meaning back then, each $1 of Bitcoin held translated to over $0.50 in paper losses. While the data shows there is some pressure building in today’s market, the level of pain long-term holders are experiencing hasn’t hit the typical thresholds seen at historical cyclical lows. In other words, based on the loss situation of long-term Bitcoin holders, the market hasn’t flashed the widespread, deep “surrender sell-off” signals that usually mark the end of past bear markets.

June 2: Binance Wallet Prediction Market has officially integrated the PP points system—provided and operated by Predict.fun—per an official announcement. Users can earn PP points through trading, providing liquidity, holding positions, and other eligible market activities on the platform. PP is Predict.fun’s native points incentive program, designed to measure users’ activity, contributions, and long-term involvement in the prediction market.

On June 2, IBM (IBM.N) committed to investing more than $100 billion into quantum computing, targeting the launch of the world’s first large-scale fault-tolerant quantum computer by 2029. Tap the original article link below to follow the Insight Beating · Feishu AI News Channel, which tracks global AI updates and breaking news 24/7.

June 2 – Even as the U.S. stock market keeps hitting fresh record highs, Wall Street analysts responsible for monitoring these markets aren’t eager to chase the upward momentum. Researchers are downgrading ratings for S&P 500 index constituent companies. JPMorgan data reveals that in the broad Russell 3000 index, the proportion of component stocks with a “buy” rating is almost identical to what it was four years ago—well below the peak level logged during the dot-com bubble. Whatever the precise reasons behind this new wave of skepticism, it’s seen as a positive sign. From a contrarian investing standpoint, this means market sentiment hasn’t hit the kind of extreme bullishness that usually precedes a market top. Andrew Greenbain, Senior Vice President of Stock Research Product Management at JPMorgan, commented: “I typically gauge market sentiment by asking, ‘Are there more buyers or sellers?’ Right now, the selling side hasn’t shown signs of shifting to aggressive buying.”