Bitcoin is hovering just above the $73,000 area, which analyst Michaël van de Poppe said on June 1 could act as the make-or-break support for a summer breakout. He argued that holding $73,000 could fuel roughly two strong weeks of upside, while losing it may raise the risk of a deeper pullback toward $61,000. BTC was also described as ranging near $74,200 resistance and about $72,700 support, as spot Bitcoin ETFs have faced notable outflows since mid-May.

Two newly created wallets withdrew 984 BTC worth about $72 million from BitGo, moving a large amount of Bitcoin off a custodial platform as BTC traded around a key support area. BTC was near $72,908 after dipping below $73,000, while RSI fell to 34.32 and liquidation clusters sat around $72,800–$73,000 and $74,500–$75,000.

CME Group began 24/7 trading for cryptocurrency futures and options on May 29, expanding access to regulated crypto derivatives beyond traditional market hours. The exchange said that over the debut weekend more than 7,200 contracts traded, representing about $50 million in notional value, with activity attributed to both retail and institutional participants. On June 1, CME also made bitcoin volatility futures available for around-the-clock trading on CME Globex.

Strive (NASDAQ: ASST) said it expects to expand its at-the-market programs by $2.1 billion for Class A common stock and $2.1 billion for SATA preferred shares, lifting the combined increase to $4.2 billion. The company also added about 2,649 BTC this week, and CEO Matt Cole said an updated balance sheet is planned before U.S. markets open on Tuesday, June 2.

Bitcoin fell on Monday after a volatile week, down nearly 6% over seven days as prices moved from around $78,000 to the low $70,000 range and roughly $100 billion in value was erased. NYDIG said a May 26 off-exchange block saw one party sell 29.21 million IBIT shares at $43.16, about $1.26 billion notional, taking a $1.01 discount and an estimated 2.3% execution cost (~$29.5 million). BTC was at $71,493 at press time, down 2.91% over 24 hours.

Bitcoin remains confined to a months-long descending channel on the daily chart, with rebounds repeatedly failing near the upper trendline and sell-offs reacting near the lower boundary. After a rejection around $83,100 in May, BTC is back in the channel's lower half and is down over 12%, opening June near $73,670 as traders watch whether $70,000 holds.

Strategy disclosed on June 1 that it sold 32 BTC for $2.5 million to help fund preferred stock distributions. A Cryptoquant analysis dated June 1 said on-chain flows remain subdued, with a Fund Flow Ratio near 0.01 and NUPL still positive at 0.27, even as both profitability indicators trend lower. The report warned that if BTC breaks the $70,000-$72,000 support zone, weakening profit metrics could amplify selling pressure despite the sale not being a standalone bearish trigger.

On June 1, Bitcoin fell below $71,000 for the first time since April 13, briefly touching $70,574 before rebounding above $71,000. The move coincided with $627 million in crypto liquidations and pushed total crypto market capitalization down to $2.52 trillion. Reports that Michael Saylor's Strategy sold 32 BTC in May added to market anxiety despite the sale representing a small share of its holdings.