The altcoin market has experienced its most severe sustained sell-off since 2020

According to the popularity ranking, HYPE ranks first in popularity, while BEAT has the largest decline. The popularity ranking is as follows: ① HYPE （$72.60，-1.41%） ② SPCX ③ UNI （$3.59，21.28%） ④ WLD （$0.6488，-0.31%） ⑤ ZEC （$501.73，-3.70%） The selling power of BEAT's main funds is weak, with a net outflow of $866000 in 24 hours and a transaction volume of $866 million in 24 hours, of which the main funds have a net inflow of $414600.

Newly created address 0x643 extracted 88350 HYPEs worth $6.4 million from OKX, Gate, Kraken, and Bybit. Starting from June 1st, a total of 1229524 HYPE have been withdrawn from this address and used as collateral. （Onchain Lens）

Michael Bury stated that he does not hold any shares in SpaceX and believes that its $3 trillion market value is too high, but the cost of short selling options is too high. Michael Bury pointed out that the exercise price of a put option with a strike price of $100 and a maturity date of December 2028 is about $25, while the stock price is about $212. The contract price expiring in June 2027 is approximately $13, and the contract price expiring in December 2026 is approximately $6.75. Michael Bury believes that if the SPCX index stabilizes in the mid $200 range, the volatility of put option chains will decrease.

CryptoQuant CEO Ki Young Ju stated that as crypto capital flows into stocks, commodities, and other RWAs, CryptoQuant is considering building dashboards and APIs around these assets to provide data-driven insights.

Asset management company DWS has released a report stating that gold prices have upward potential, supported by expectations of US interest rate cuts, a weaker US dollar, and central bank gold demand. It is expected that gold prices will rise to $5400 in June 2027.