Bitcoin hovered below $62,000 as the market sold off, while on-chain signals suggested large holders were active around the $60,000–$61,000 low. Data cited by analyst Woominkyu indicates 11,422 BTC (about $700 million) was withdrawn from exchanges over the following five days, alongside an Exchange Whale Ratio spike to 61.6%. The move followed a June 2–3 inflow surge linked to older dormant coins, which coincided with BTC sliding from $71,000 toward $60,000.

Ethereum continued to trade below $1,700 as on-chain data pointed to large ETH outflows from major venues. Three whale wallets—two newly created—moved a combined $122.29 million in ETH out of FalconX and Kraken, while one of the addresses was described as sitting on an unrealized loss of about $9.1 million.

XRP hovered around $1.15 as the latest sell-off triggered a sharp derivatives shakeout, with one major venue showing a clear leverage reset. Bybit's XRP open interest slid to about $181 million, while Binance stayed near $246 million, leaving a stark gap in positioning. The move also featured repeated long liquidations above $3.5 million and heavy futures activity led by $1.85 billion in volume on June 5.

Bitcoin is trading above $62,000 after last week's sharp selloff, but an on-chain demand study argues the stabilization may be fragile. Combined spot and perpetual futures demand growth over 30 days has slid toward -650,000 BTC, a level seen only three times since 2019. Key price zones highlighted include $60,000–$63,000 support and $72,000–$74,000 resistance.

XRP is attempting to recover the $1.15 area after sliding to its lowest level since 2024 and briefly dipping to around $1.13. Arab Chain flagged an unusual Binance volume pattern: the XRP Volume Z-Score jumped to about 4.5 before quickly dropping to roughly -0.70, shifting activity from well above to below the 30-day average. The read-through is that the sharp selloff may have been driven by a short, intense burst of trading that then faded as the rebound began.

Ethereum has climbed back above $1,650 after last week's sharp drop. Arkham Intelligence data highlights a long-held wallet that sold about $188 million across ETH, wstETH, and WBTC before the slide, then repurchased those positions at lower average prices.

Bitcoin is pressing the $62,000 support area as sellers keep control and bulls defend a level tied to the prior cycle’s structural base. The report argues the correction is primarily a demand issue: US spot Bitcoin ETF flows turned negative, the Coinbase Premium stayed below zero, and Realized Cap fell from about $1.12 trillion to $1.08 trillion. It also notes more than $150 million in leveraged longs were liquidated between June 3 and June 4, while BTC trades around $62,500 after briefly dipping near $61,000.

HYPE stayed above $60 even as the broader crypto market sold off. Within an eight-hour span, several new wallets withdrew 557,406 HYPE (~$40.2 million) from Kraken and 180,000 HYPE (~$13.3 million) from Coinbase, with the Kraken tokens immediately staked. Arkham data also shows address 0x6436 has accumulated 761,357 HYPE (~$55.4 million) from exchanges over three days.

Bitcoin has faced heavy selling after a 16% drop since Monday, putting the $60,000 area in focus. The 30-day moving average of hashrate has also turned lower, and CryptoQuant analyst Woominkyu says the move can signal miner stress, though the current pullback remains modest versus past cycle-bottom events.