Bitcoin steadied around the $60,000 area after several days of sharp declines, while on-chain signals pointed to a possible trend shift. In a June 7 X post, analyst Ali Martinez said BTC may be nearing a cycle bottom as the "Supply In Loss" metric crossed 10.46 million coins. At the time of writing, BTC traded near $62,746, up 2.5% over the past 24 hours.

An on-chain analyst argued in a June 6 post on X that Bitcoin is unlikely to bottom at $25,000 in the current cycle, citing the Bitcoin Electrical Cost model. The model places BTC’s estimated production cost around $48,694, which the analyst said could translate into support near $50,000 if the downturn persists. Separately, a CryptoQuant Quicktake noted bearish signals like RSI (14) near 6.4 and an EMA50/200 “Death Cross,” while Binance netflows at -0.58σ suggested ongoing exchange outflows.

CryptoQuant QuickTake analyst Crazzyblockk says Binance has seen sustained Bitcoin selling pressure for 48 consecutive days, starting with mild selling on April 19 and intensifying on May 28. During the period, Binance reserves rose from 619,529 to 659,488 BTC, with the strongest signal on June 2 when adjusted net inflow hit +8,791 BTC. As of writing, BTC was around $61,073, down 0.9% over the past day.

Cardano has come under heavy selling pressure, with ADA down more than 30% over the past seven days and trading around $0.1568 after a 16% drop in the last 24 hours. In a June 5 post, Alphractal founder Joao Wedson highlighted $0.1097 (Thermo Price) and $0.03478 (Delta Price) as key downside levels, while suggesting $0.05–$0.10 could be a notable accumulation zone if bearish pressure persists.

Cardano's ADA has trended lower since last August and is now approaching a pivotal monthly support at $0.247. If May closes below that level, analyst Ali Martinez says ADA could enter a deeper downside phase, with next targets at $0.113 and $0.051. ADA was trading around $0.237 at the time of writing, up more than 2% over the past 24 hours.

Gravity Bridge, a Cosmos-native cross-chain protocol, confirmed a weekend exploit that resulted in roughly $5.4 million in stolen crypto. On Saturday, May 31st, investigator Specter said the incident appears linked to a signing key compromise, and the project advised validators and orchestrators to halt operations while the probe continues.

Short-term Bitcoin holders moved 107,760 BTC in a single day, marking the biggest 1–3 month spent-output shift in more than seven months. The activity coincided with BTC trading below $74,000 and with Bitcoin Price Momentum staying negative since May 22, after peaking at +20.5% on May 5. At the time of writing, BTC was around $73,410, down 0.4% over the past 24 hours.

XRP has fallen nearly 10% over the last two weeks as broader large-cap weakness persists. CryptoQuant on-chain data show its NVT ratio rose 20.3% versus the 3-month baseline over the past week while price tried to consolidate near $1.33, a setup an analyst says could lead to a repricing. XRP was around $1.32 at the time of writing, with little change in the prior 24 hours.

Bitcoin rebounded after a weak weekend start tied to reports of a possible U.S.–Iran agreement, but a technical setup suggests the move may still be fragile. A chart shared by analyst Aksel Kibar outlines an ascending channel on the daily timeframe, with a potential pullback zone around $72,000–$72,500 before any rebound attempt.