Bitcoin fell below $69,000, and Peter Brandt said the June futures chart shows an "expanding triangle" that could point toward $53,000-$55,000. He added his bearish view would change only if BTC returns above $75,000 and holds that level. The setup comes as U.S. spot Bitcoin ETFs logged an 11th straight day of net outflows, including -$483.7 million in one session.

A Polymarket user known onchain as "willo2" lost about $527,000 in a single day after a bet on Strategy’s bitcoin sale deadline resolved. Strategy disclosed in a June 1 Form 8-K that it sold 32 BTC for about $2.5 million, its first bitcoin sale since 2022. The position was tied to whether the company would sell any BTC before May 31, and the filing flipped the outcome.

Bitcoin traded around $68,900 as it fell under $69,000, alongside a sharp jump in exchange inflows. CryptoQuant data shows Binance's 30-day retail inflow sum reached $9.197B at 05:00 UTC on June 1, 2026, the highest level since November 20, 2025. The report also points to heavier exchange deposits from the 6m–12m holder cohort through May into early June 2026.

Crypto analyst Aralez says Bitcoin is approaching a major accumulation area that has mirrored prior bear-market setups and could set the stage for a new ATH in the next bull run. He cites past drawdowns of 87%, 84%, and 77.5% from cycle highs, and notes BTC is about 42% below its October 2025 peak of $126,000. In his projections, a potential bear-market bottom near $40,000 could precede a move that reaches as high as $250,000 by 2029.

A Mt. Gox-linked cold wallet shifted 10,422.65 BTC at about 04:47 UTC on June 2, splitting the transfer into two outputs. The move sent 10,306.35 BTC (about $731 million at the time) to a newly seen address and 116.30 BTC (about $8.25 million) to another Mt. Gox-associated wallet, with no clear signs the funds were routed to major exchanges.

Bitcoin fell below $70,000 and was trading at $69,397 as the Bitcoin Rainbow Chart placed it under the model's lowest projected valuation band for late June. The chart's June 30 projection suggests BTC would need to be around $78,900 to enter the "Bitcoin is dead" zone, while higher bands range from about $105,000 to above $1.23 million. The model is presented as a long-term sentiment and valuation gauge rather than a short-term price target.

On June 2, Mt. Gox moved 10,423 BTC (about $739 million) from its cold wallet to a new address, followed two hours later by a separate 116.29 BTC transfer valued near $8.07 million. The exchange’s cold wallet was shown holding roughly 34,504 BTC worth over $2.4 billion at publication, as the court-approved repayment deadline stands at October 31, 2026.

Strategy’s first Bitcoin sale since 2022 is driving a payout dispute on Polymarket over a contract tied to whether the firm sold BTC by May 31. In a June 1 8-K filing, the company said it sold 32 BTC between May 26 and May 31 for about $2.5 million, but the disclosure landed after the market’s cutoff, splitting traders over a “Yes” vs “No” resolution.