ZEC Plunges 50% in a Day! "BTC OG Whale's Insider Agent" Short Position Soars to the Top of On-Chain Rankings

June 5: New research from the Federal Reserve Bank of Boston finds the U.S. economy has grown significantly less sensitive to oil price increases, thanks to improved energy efficiency and a surge in domestic crude oil production. Unlike the oil crises of the 1970s, today’s oil price spikes no longer deliver a massive blow to the job market. Additional jobs created by the expansion of the oil and gas sector can partially offset pressures on other industries, leading to a marked decline in the likelihood that high oil prices will trigger "stagflation"—a scenario of high inflation paired with high unemployment. However, the report also cautioned that the labor market’s ability to buffer against oil price shocks has weakened, meaning inflationary pressure from rising energy costs may prove more persistent. The Fed does not need to overworry about energy price hikes sparking an economic downturn; instead, it should focus more on containing inflation. Market consensus currently expects the

June 5th, CryptoQuant analyst Axel Adler Jr pointed out that Bitcoin has recently dropped back to around $62,000, with the market’s total loss scale continuing to expand. On-chain data indicates that the 7-day net unrealized loss has risen to approximately $7 billion—surpassing the level recorded during this year’s February market low. However, compared to the peak loss of roughly $14 billion during the last bear market and winter panic phase, current market sentiment hasn’t yet reached the state of "full surrender." From a cost structure perspective, Bitcoin’s current price is significantly lower than the average cost basis of short-term holders, which is around $76,000—meaning most short-term investors are now holding floating losses. If the market weakens further, key support zones below are mainly concentrated at two levels: the network-wide average realized price of about $54,000 and the cost basis of long-term holders of around $49,000. These two price ranges typically correspon

On June 5th, Garrett Jin, an agent with the "BTC OG Whale Insider," questioned the overtly bullish stance of Serenity, the self-proclaimed "Stock God." Serenity today publicly endorsed "Green Harmony," and Jin raised concerns about the true motives behind Serenity’s bullish call to the market. He explained that signaling a bullish view *after* the underlying asset has already seen a large surge could lead followers to buy in at a peak, exposing them to the risk of a subsequent pullback. Today’s report noted that, driven by Serenity’s "Stock God" endorsement, Green Harmony jumped 20% to hit its daily trading limit.

On June 5, Jiang Zhuo'er, founder of Lebit Mining Pool (B.TOP), announced he has bought back all Ethereum positions he’d previously sold at an average price of $1,645. The repurchase followed liquidations of his Ethereum holdings in the $2,200–$2,400 range. Despite completing the buyback, Zhuo'er views the overall market as still in a downtrend. Bitcoin, however, has found support near $61,000 on two separate occasions and hasn’t dropped significantly below that level—a sign of short-term demand for a technical rebound. Based on this assessment, he expects Bitcoin to rally in the next 1 to 3 days and plans to sell the recently repurchased Ethereum positions during that rebound.

June 5. Privacy coin Zcash (ZEC) plummeted over 50% in a single day after a disclosed security flaw that could theoretically enable infinite inflation triggered a widespread selloff, reigniting debate across the crypto industry about the long-term future of privacy-focused digital assets. While Zcash’s development team has downplayed the risk of malicious exploitation—stating the vulnerability is highly unlikely to be acted upon—markets are concerned the flaw undermines one of Zcash’s core value propositions: verifiable supply auditability, a key feature that set the privacy coin apart from many others. Prominent crypto KOL Arthur Hayes, known for high-leverage trading calls that fueled ZEC’s recent rally, announced he sold his entire ZEC holdings today in reaction to the Orchard Pool vulnerability. Hayes initially didn’t grasp how the flaw would upend his bullish narrative for Zcash, but a subsequent 30% price drop prompted him to reevaluate and exit his position at a profit. Wh

Per Bitget market data, U.S. chip stocks traded broadly lower in pre-market hours on June 5. Qualcomm (QCOM.O), Intel (INTC.O), and AMD (AMD.O) each fell around 3%, Taiwan Semiconductor Manufacturing Co. (TSM.N) dropped 2.5%, and NVIDIA (NVDA.O) declined 1.5%.