Bitmine Immersion Technologies said Monday it purchased more than 126,971 ETH, valued at about $214 million, during last week's market dip. The company said its crypto and cash holdings now total $9.6 billion, including 5,543,872 ETH priced at $1,630 each and 204 BTC, while Tom Lee described the recent selloff as driven by short-term panic rather than fundamentals.

Bitmine increased its Ethereum position by 126,971 ETH over the past week, taking total holdings to 5.54 million ETH and reporting $9.6 billion in crypto and cash, including $247 million in cash. In early June, ETH exchange reserves across Binance, OKX, Gemini and Bitfinex fell by about 475,000 ETH. ETH was trading near $1,682 at press time, with indicators suggesting sellers still had the upper hand despite oversold signals.

XRP traded near $1.15 on Monday as derivatives positioning picked up amid still-fragile market sentiment. XRP perpetual futures open interest rose to an average of $2.44 billion from $2.28 billion, pointing to a cautious return of speculative activity. Technical indicators remained bearish, with key resistance clustered above current price and support watched near $1.05 and $1.00.

Ethereum remains in a downtrend after losing over 15% last week and briefly dipping to $1,505, with price now hovering around $1,684. BitMine Immersion Technologies bought 126,971 ETH last week, lifting its holdings to 5.54 million ETH and a stated ~4.59% of circulating supply. Technically, ETH is below its 50-day, 100-day and 200-day EMAs, with resistance levels outlined at $1,747, $2,000, $2,058, $2,189 and $2,441.

Ethereum remained weak after last week's selloff, briefly testing $1,505 and continuing to trade below key support zones. BitMine Immersion Technologies said it bought 126,971 ETH last week, lifting total holdings to 5.54 million ETH and about 4.59% of circulating supply. ETH was trading around $1,684, with technicians watching $1,747 and $2,000 as resistance and $1,385 as the next notable support.

Crypto market sentiment has fallen into “extreme fear,” hitting a two-month low, while Solana (SOL) showed relative strength on June 7 with a gain of over 6%. SOL also outpaced Bitcoin’s 4% rise, pushing the SOL/BTC ratio up more than 2.7%, as the market debates whether SOL’s rebound could extend toward $100.

Dogecoin rebounded on Monday to around $0.086 after slipping over the weekend to a multi-year low of $0.077. Analyst Ali Martinez said DOGE is at a "critical structural inflection point", with $0.081 as the key area to hold and $0.058 as the lower channel floor. A weekly close below $0.081, he argued, could imply a move toward $0.058—an additional 32% decline from current levels.

Asian regulators are tightening stablecoin standards, while Japan's ruling party panel on June 1 urged wider yen-based stablecoin use for regional settlement and called for a legal framework for crypto ETFs. The Ripple (XRP) ecosystem reported 1.83 million daily transactions and 7.3 million addresses, with XRPL stablecoin value rising above $760 million as active addresses hovered near 35,000. XRP open interest fell 36% on Bybit from a May peak of $283 million to about $181 million, while Binance eased to $246 million, 2.4% below its June high of $252 million.