A certain whale longed SPCX with 5x leverage for a value of $9.09 million

On June 13, Standard Chartered analyst Geoffrey Kendrick stated in a Friday research note that the low point of Bitcoin’s current market cycle may have already formed around $59,000, signaling the end of the crypto market’s downturn phase. Kendrick noted this cycle low represents a 53% drop from Bitcoin’s historical high of $126,000 set on October 6, adding, “Winter is over, welcome back to the crypto spring.” Data shows Bitcoin hit a low of $59,375 on June 5 and is currently trading near $64,000. Kendrick forecasts Ethereum will reach $4,000 and Bitcoin will hit $100,000 by the end of the year. Kendrick identifies two key factors driving this market turnaround. First, the crypto sector has faced some of the heaviest selling pressure since the U.S. spot Bitcoin ETF launched in recent weeks, with cumulative redemptions exceeding $5.72 billion since the second week of May. He explained that some ETF holders are liquidating positions to free up cash for the SpaceX IPO, an event he believ

June 13 – Per data from Farside Investors, U.S. spot Bitcoin ETFs saw a net inflow of $85.9 million yesterday, with BlackRock’s IBIT bringing in $57.7 million in net capital. By contrast, U.S. spot Ethereum ETFs recorded a net outflow of $4.9 million, where ETHA alone logged a net outflow of $4.5 million.

June 13: Coinbase Bitcoin Premium Index Turns Positive After 24 Days, Signaling U.S. Buying Sentiment Rebound Per Coinglass data, the Coinbase Bitcoin Premium Index has remained positive for two consecutive days, currently standing at 0.208%. U.S. market buying sentiment is starting to recover after 24 straight days of negative premium. BlockBeats Note: The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase—a leading U.S. crypto exchange—and the global average Bitcoin price. It is a critical metric for tracking U.S. capital inflows, institutional investment interest, and shifts in overall market sentiment. A positive premium means Coinbase’s Bitcoin price trades above the global average, typically indicating strong U.S. buying pressure, active entry of institutional or compliant funds, ample U.S. dollar liquidity, and generally optimistic investment sentiment. Conversely, a negative premium means Coinbase’s Bitcoin price sits below the global a

June 13. A bearish signal has emerged in the ETH futures market. Per data, the annualized funding rate for ETH perpetual futures flipped negative on June 5, meaning short traders are paying a premium to hold their positions. ETH has slumped 30% over the past five weeks, yet long traders still aren’t willing to ramp up their risk exposure. Total open interest for ETH futures is down 30% from a month ago, hitting a 13-month low. Adding to the pessimism: U.S. Ethereum spot ETFs saw a net outflow of $323 million in the last two weeks, signaling weak institutional demand. On-chain activity is also under strain. Ethereum’s total value locked (TVL) has fallen 33% to $37.5 billion over the past two months, and May’s DApp revenue dropped 43% compared to the prior six months—typically a sign of slowing network fees and weaker ETH utility demand. But staking demand tells a different story, standing in stark contrast to the derivatives market’s gloom. Right now, the wait time for ETH staking vali

June 13 – Zcash founder Zooko Wilcox released a statement thanking Anthropic for helping protect Zcash users. Anthropic, acting on Shielded Labs’ request, conducted a security audit of the Zcash protocol using Mythos, finding no additional critical vulnerabilities. Shielded Labs and other teams are advancing further security enhancements, with future updates planned.

June 13 update: The cryptocurrency Fear & Greed Index, as tracked by Alternative Data, came in at 13 today—up from yesterday’s reading of 12—meaning the market’s “extreme fear” sentiment has eased slightly. Quick note: The index runs on a 0–100 scale, with readings calculated using six weighted metrics: Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin Dominance (10%), and Google Trends Analysis (10%).