Bitcoin (CRYPTO: BTC) bounced above $63,000 on Monday, yet the bottom may take a while to form, according to a prominent technical analyst.

“BTC Has Entered Stage Three“

In a podcast on June 7, crypto analyst Benjamin Cowen argued that investor psychology is now approaching the point historically associated with major bottoms.

He outlined a three-stage bear market framework based on sentiment shifts rather than traditional technical indicators.

Cowen said the first phase began after Bitcoin’s October 2025 peak, when only a small group of investors believed a bear market had started.

The second phase unfolded after Bitcoin broke below its February 2026 low, forcing more market…

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The rally comes as the broader cryptocurrency market rebounds and investors position for multiple potential catalysts, including a possible gamma squeeze and the company’s upcoming addition to the Russell 2000 and Russell 3000 indexes.

The Nasdaq gained 2.30%, while the S&P 500 advanced 0.84%.

Public-Market Proxy For HYPE

The stock’s momentum is closely tied to Hyperliquid Strategies’ role as a corporate treasury vehicle for the Hyperliquid ecosystem. As interest in HYPE accelerates, investors seeking regulated equity exposure have increasingly turned to PURR.

Gamma Squeeze Narrative Builds

Last week, financial research newsletter Capital Flows identified PURR as a leading candidate for…

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Galaxy Digital Inc. (NASDAQ:GLXY) shares are ripping higher on Monday. The sudden breakout follows a massive institutional announcement alongside a broader relief rally across the digital asset market.

Galaxy is building what is expected to be the largest single-campus data center in America. The Nasdaq is up 1.99% while the S&P 500 has gained 0.77%.

Speaking on All Things Markets with Anthony Scaramucci, Galaxy Digital Founder and CEO Michael Novogratz said the company expects to have the entire 1.6 GW campus leased by July 4, or by the end of the summer at the latest.

A Landmark Wall Street Partnership

The primary catalyst emerged on Friday, when Morgan Stanley Wealth Management and Galaxy…

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Prominent macro strategist Tom Lee once took objection to what he viewed as a popular perception that if something isn’t working now, it will never work in the future.

Lee’s Pitches That Have Faced Pushback

During an interview aired Oct. 3, Lee was asked which of his ideas he believes are being “overlooked” by investors and still haven’t caught on.

The Head of Research at Fundstrat replied that Bitcoin (CRYPTO: BTC) has consistently received the most pushback.

Lee pointed out that the leading cryptocurrency has risen from $1,000 to $72,000 in just eight years, but people still tell him, “Bitcoin doesn’t do anything.”

Lee Objects To Small-Cap Pessimism

The other area where he faced…

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Bitcoin plunged below $60,000 for the first time since October 2024, extending losses in what has become its worst week since November 2022.

Sentiment deteriorated further into extreme fear, signaling rising market anxiety heading into the weekend.

Notable Statistics:

Coinglass data shows 310,873 traders were liquidated in the past 24 hours for $1.56 billion.       

SoSoValue data shows net inflows of $3.05 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $19.3 million.

In the past 24 hours, top losers include Zcash, Internet Computer and Polygon.

Notable Developments:

Trader Notes:

Economist Peter Schiff noted Bitcoin briefly fell below $60,000,…

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