Sell-off Strategy Triggers Chain Reaction, BTC Plunges Over 15% in Three Days
June 4 — In hindsight, after Strategy’s earlier test sale of 32 bitcoins (valued at $2.47 million), market sentiment quickly soured. Over the next three days, Bitcoin’s price plummeted by roughly $11,400 total, a 15.6% drop, leading to around $228 billion in total market capitalization losses.
On the funding side, Bitcoin spot ETFs saw a cumulative net outflow of $1.45 billion in the three trading days following Strategy’s sale announcement, with outflows extending for 13 straight sessions to hit $4.37 billion overall.
Separately, multiple on-chain and institutional developments stoked further market jitters: Mt. Gox transferred some of its Bitcoin to the Bitstamp exchange; Bitcoin from Tether’s reserves was moved to Bitfinex for the first time; and crypto asset manager Abraxas Capital began reducing its Bitcoin holdings.
Market analysts point out that while Strategy’s sale was modest in scale, as one of the world’s largest corporate Bitcoin holders, its selling activity ampli
12 minutes ago
Suspected a16z Affiliated Address Accumulates 687,000 HYPE Tokens in the Past Four Days, Accumulating Nearly $460 Million in Spot Purchases this Year
June 4th — Per monitoring from Hyperinsight (https://t.me/HyperInsight), the so-called "HYPE Spot Whale" today added additional Time-Weighted Average Price (TWAP) buy orders using five distinct addresses, with plans to acquire 136,000 HYPE spot tokens worth roughly $9.65 million.
Over the past four days, this whale has cumulatively placed more than 687,000 HYPE TWAP buy orders, totaling approximately $48.09 million (calculated at a $70 per HYPE price). Monitoring shows the whale submits orders around mid-morning and aims to execute the gradual purchase over the next 24-hour period.
The whale utilizes up to a dozen linked addresses, all traced back to addresses suspected of being associated with HYPE’s largest external entity: a16z. These addresses reportedly engaged in extensive consolidation of HYPE spot coins from several major exchanges and other liquidity sources during late May.
Since 2026, its associated addresses have accumulated a total of 6.617 million HYPE tokens (valued a
12 minutes ago
Whale Evaded Long on ZEC, Resulting in a Loss of Approximately $2.9 Million, Then Entered Another 10x Long Position and is Now Facing Unrealized Losses
On June 4, monitoring data from OnchainLens shows that whale trader Evaded (@ICanPlug) had his entire ZEC long position fully liquidated, incurring an approximate loss of $2.9 million. He subsequently opened another 10x leveraged ZEC long position, but the market continued to decline. As of now, his cumulative loss has exceeded $5.4 million.
12 minutes ago
Bill Ackman Warns of Market FOMO, High-Quality Tech Giants May Be Undervalued
NEW YORK, June 4 (Reuters) — Bill Ackman, founder of Pershing Square Capital Management, warned Wednesday that today’s stock market mirrors the excesses of the 2000 dot-com bubble, as investors pour capital into hot areas like chips, semiconductors and energy while overlooking high-quality companies with solid, sustainable fundamentals.
Drawing a parallel to Berkshire Hathaway being dismissed as a “legacy asset” during the dot-com era, Ackman highlighted that today’s tech giants—Amazon, Meta and Microsoft—are facing similar undervaluation due to widespread market sentiment. He noted these firms are his core holdings, yet are trading at unjustly low levels amid current market trends.
Ackman revealed he built a position in Microsoft after the stock price dipped following the company’s February 2026 earnings report, calling the tech giant a “key beneficiary” of the global artificial intelligence boom. He emphasized that the AI era has drastically raised disruption risks for businesses,
12 minutes ago
The stablecoin apxUSD once experienced a dip to $0.93, with the protocol team stating it was part of the normal mechanism.
On June 4, during a stretch where Bitcoin briefly dipped below $63,000, apxUSD — the stablecoin issued by Apyx Protocol and backed primarily by Strategy priority shares (STRC) — briefly broke its peg, hitting a low of $0.93.
Apyx clarified that this fluctuation wasn’t a bug, but rather an expected behavior for a stablecoin collateralized by priority shares. ApxUSD’s reserve assets are made up mostly of STRC priority shares with a $100 face value; when STRC’s secondary market price falls below that face value, the reserve’s market value shrinks, leading to swings in the stablecoin’s price.
The protocol added that its stability mechanisms include over-collateralization, dividend adjustment tools, and a reserve buffer of cash and short-term Treasury bonds. Data shows that since last August, STRC has traded below its $100 face value four times — yet each instance ended with a rebound back to $100.
In response to market worries about cascading liquidations in the Morpho lending space, Ap
12 minutes ago
Meta Launches Business Agent AI Assistant to Support Enterprises in Achieving 24/7 Customer Service
June 4: Meta announced the launch of its Business Agent AI Assistant, now available to businesses worldwide. The tool can be deployed in minutes, supporting automatic responses to customer inquiries, product recommendations, service appointment bookings, lead qualification, and sales activities, with the ability to escalate to human support as needed.
Meta shared that more than 1 million businesses are already using Business Agent via WhatsApp and Messenger, with over 1 billion business-related active conversations occurring daily across WhatsApp, Messenger, and Instagram. Going forward, the service will expand to Instagram and gradually roll out paid subscription plans.
Additionally, Meta unveiled the Meta Business Agent Platform, which provides businesses with the infrastructure to build, customize, and deploy AI agents at scale. The platform integrates with hundreds of systems including Shopify, Zendesk, and Shopee, and offers enterprise-grade control, rule management, and data an
12 minutes ago