Bitcoin’s plunge below the key $60,000 level last week created winners in leveraged inverse ETFs betting against some of the crypto market’s most closely watched stocks.

The rally in bearish ETFs coincided with one of Bitcoin’s sharpest declines this year. The world’s largest cryptocurrency fell about 18% last week and briefly dropped to $59,101 on Friday, marking its first move below $60,000 since late 2024.

Strategy’s Weakness Boosts MSTZ

The selloff reverberated across crypto-linked stocks, particularly Strategy Inc (NASDAQ:MSTR), the company widely viewed as a leveraged Bitcoin proxy.

Strategy came under pressure after disclosing a small Bitcoin sale, its first since 2022. The…

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Why Layer Ones Beat Everything Else Over The Long Term

Pal’s core argument is that layer one blockchains are the infrastructure layer of the global digital economy, and infrastructure concentrates into three to five dominant players just like operating systems, cloud computing, and every major network before them. 

Unlike Bitcoin (CRYPTO: BTC), which has one job as a global savings asset, smart contract layer ones can scale infinitely as more economic activity moves on-chain.

“If you were to pull the plug on Ethereum today, how much economic value do you destroy?” Pal asked on the When Shift Happens podcast. 

“Every layer two, all of DeFi, all the real-world assets, all of NFTs,…

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Bitcoin is rebounding off the back of a relief rally after hitting some of its most oversold levels ever.

Notable Statistics:

Coinglass data shows 102,093 traders were liquidated in the past 24 hours for $608.09 million.       

SoSoValue data shows net outflows of $325.7 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $4.8 million.

In the past 24 hours, top gainers include Audiera, DeXe and Lighter.

Notable Developments:

Trader Notes:

Crypto Bully explained Bitcoin briefly tapped $60,000, a heavily watched support level, and held firm as short sellers took profits, helping fuel a rebound. Market panic around Strategy’s STRC and fears of…

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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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