Bitcoin slid from $77,000 to below $60,000 over the past two weeks before bouncing back to $62,000, reigniting debate over its outlook. Galaxy CEO Michael Novogratz said "Bitcoin isn't dead" and argued the traditional four-year cycle may be less relevant as the asset matures. Separately, trader James Wynn closed Bitcoin and Solana shorts for a $6.4K profit and then opened leveraged longs in BTC ($373K at 40x) and ETH ($8.50K at 25x).

Akash Network’s AKT rose more than 14% in the past 24 hours as Bitcoin gained over 2.5%, helping lift several major altcoins. Trading volume doubled from $8.38 million to $16.25 million over two days, while monthly volume climbed 54% to $414 million. Despite a technical bounce, AKT still needs to retake the $0.70–$0.75 zone to reinforce a stronger recovery narrative.

On June 7, Pudgy Penguins (PENGU) rose 16% over 24 hours as the broader crypto market rebounded, even while PENGU volume slipped 30% and memecoin volume fell 40%. Exchange balances declined by more than 40 million PENGU to 18.33 billion tokens, alongside increases in whale, Smart Money, and retail holdings. Technical levels show momentum improving, but price still faces the Supertrend band around $0.0071–$0.0073.

Centrifuge (CFG) dropped 14% in a single day as weakness across the RWA tokenization segment weighed on the project's activity and trading. Over the past 30 days, CFG's token trading volume fell 7.5% to about $685 million, while RWA issuers' monthly token volume sank to a low of $198 million from $1.406 billion. Technically, CFG has broken below key demand areas, with RSI oversold near 23.45 and $0.12-$0.14 flagged as a potential last demand zone if losses extend.

Fartcoin (FARTCOIN) fell more than 16% over the past 24 hours, extending its declines to 34% over seven days and 58% over 30 days. The wider memecoin sector dropped over 6.57% to a $26.84 billion market cap, while FARTCOIN's daily trading volume jumped over 50% to about $331 million. Derivatives data also showed lower open interest and long liquidations, as traders watched whether the token can hold around the $0.10 area.

SEI fell more than 17% over the past 24 hours at press time, underperforming a broader crypto market move that was down over 5%. Network usage and liquidity metrics weakened in early June, while more than $13 million in Futures selling over the same 24-hour window added pressure. Technical indicators showed a break of a two-month support line, though a buy signal near oversold levels pointed to a possible rebound around $0.04845 if conditions improve.

The latest crypto sell-off cut total market capitalization by more than 7%, falling from above $2.50 trillion to $2.32 trillion at press time. Bitcoin drove much of the decline, with price moving from above $77K to $67K and market cap shrinking from $1.50 trillion to $1.34 trillion. Derivatives saw over $700 million in long liquidations in the past 24 hours, including $283 million in a single hour.

LAB surged more than 40% in a single day and reached a new all-time high of $20, extending its gains to about 90% over two days. The move followed the launch of a buyback program that used $3.401 million in protocol fees to repurchase 22.644 million LAB, alongside rising open interest and over $17 million in 24-hour short liquidations.

ApeCoin (APE) rose about 11% over the past 24 hours, standing out against a broadly flat crypto market as some GameFi tokens posted renewed gains. The token is retesting the $0.13 area after a breakout, while trading volume climbed about 145% to $51 million and transfer activity increased over five days.