Jun 3, 2025

BTC steadies with low chance of big price swings

Industry landscape

Sonic Labs has tweeted that the first season Sonic ($S) airdrop will begin in June and will be distributed in two phases: 25% will be released immediately, and the remaining 75% will be unlocked in a linear fashion via NFTs.
Elon Musk's brain computer interface startup Neuralink has completed a $650 million Series E funding round, driving the expansion of brain-machine interface clinical applications.
Investment holding company OSL Group is planning to invest $15 million to acquire a 90% stake in Indonesian licensed company Evergreen Crest Holdings Ltd.
Elon Musk’s xAI is launching a $300 million share resale, with a valuation of $113 billion.
Ethereum infrastructure company Consensys has acquired Web3Auth to enhance the MetaMask experience and accelerate Bitcoin support.
According to The Block, US SEC is seeking public comments on WisdomTree's Bitcoin fund regarding its physical purchase and redemption mechanisms.
Bitcoin-stacking firm Strategy is planning to issue 2.5 million shares of its 10% Series A perpetual stride preferred stock, with the ticker STRD, to increase its Bitcoin holdings.

Exchange updates

Binance.US will launch Hyperliquid (HYPE) spot trading.
Coinbase has added Ethena (ENA) to its upcoming listing roadmap.

Mainstream data observations

BTC core liquidation positions:

Long positions at $103,277 with a liquidation amount of $1.316 billion.

Short positions at $106,861 with a liquidation amount of $524 million

The current BTC price: $105,330, with significant liquidation pressure on long positions and concentrated distribution. Strong liquidation pressure is observed around $103,000.

ETH core liquidation positions:

Long positions at $2,566.6 with a liquidation amount of $424 million.

Short positions at $2,674 with a liquidation amount of $486 millionThe current Ethereum price: $2,601.4, with significant liquidation pressure on long positions and large liquidation amounts around $2,570, making it a key price point to monitor.

Total stablecoin market cap: $248.40B

The total market cap saw a slight increase on June 3. USDe increased by $223.24 million, with a 1.02% increase on Ethereum and a 0.45% increase on Mantle.

BTC market share: 64.15%

TOTAL 3 market cap: $858.05

BBTC market share has seen a slight increase, with BTC market share rising above 64% again. The TOTAL3 market cap slightly decreased, indicating a preference for funds flowing into BTC.

Bitcoin MVRV-Z score: 2.46

MVRV is the ratio of the minimum market value (current market cap) to the realized value (the total value of all BTC at their last movement). Market valuation has slightly increased and is currently in the moderately overvalued range.

Bitcoin BVIV score: 45.04

The BVIV score has dropped to around 45 and is fluctuating. Watch out for the potential rise in BVIV score, as it could lead to increased volatility.

[Market rating]

BTC dropped to a recent low of $103,078 on May 31 before rebounding, but it is currently fluctuating narrowly around $105,000. The likelihood of large price swings is low, and institutions continue to buy BTC. However, Bitcoin spot ETFs have experienced net outflows for three consecutive days. The current bull/bear sentiment score is 85 (Bullish).

[0-40 Bearish; 40-50 Cautiously Bearish; 50-70 Neutral; 70-80 Cautiously Bullish; 80-100 Bullish]

Emerging projects

Token	FUCKY	MASK	ZEUS
Description	A narrative that is anti-traditional, anti-authority, and somewhat mocking, appealing to community members who are critical of traditional finance or corporate culture (such as the "CTO" representing tech executives). It emphasizes "decentralization" or "resisting centralized authority."	The cult movement revolves around pixelated avatars of cats wearing masks, building a group identity through rebellious slogans and gamified memes. The core of this is to create a community-driven war around the new generation of PFP culture symbols.	The character, owned by Matt Furie, is Pepe's dog.
Price	$0.001515	$0.01449	$0.0(6)1004
Market Cap（$)	1.4 million	1.44 million	42.2 million
Token Holders	4,621	14,749	12,170

Token	HODL	fuckcoin	LAUNCHCOIN
Description	The name HODL comes from the classic meme in the crypto community, "HODL" (Hold On for Dear Life), encouraging long-term holding rather than frequent trading.	The middle finger symbol represents a dislike of unfair market practices in cryptocurrency. Additionally, a community member asked, and AIXBT replied, stating that the token's market value will push towards 1B.	LAUNCHCOIN is a cryptocurrency token associated with the Believe platform. Believe is a Web3-based SocialFi (social finance) platform that aims to simplify token creation and project crowdfunding through social interaction, especially on X platform. Believe’s "one-sentence token creation" mechanism (by replying @launchacoin on X) significantly lowers the barrier to creating tokens, attracting many developers and speculators.
Price	$0.0004077	$0.01241	$0.1463
Market Cap（$)	3.5 million	12.3 million	145 million
Token Holders	23,912	3789	32,140

Risk: Users should exercise caution when investing and conduct their own research.

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