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Today in Crypto: Bitcoin Dips Toward $62K on Continued ETF Outflows, US Sanctions Iran’s Nobitex and More
Amid the downtrend, risk appetite remained subdued as persistent ETF outflows, corporate treasury adjustments, and fresh U.S. sanctions on Iranian crypto channels weighed on sentiment.
Written By:
Gopal Solanky
Last updated: 25 minutes ago
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Today in Crypto: Bitcoin Dips Toward $62K on Continued ETF Outflows, US Sanctions Iran’s Nobitex and More
The cryptocurrency market faced renewed selling pressure over the past 24 hours, with Bitcoin testing multi-month lows near $61,500–$62,000 before a modest technical rebound.
Total market capitalization dropped to $2.21 trillion, reflecting a 3.8% decline amid elevated trading volumes (reaching $412 billion) and over $1.5 billion in liquidations—as per CoinMarketCap data.
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Marketcap and volume chart from coinmarketcap
Source: CoinMarketCap
Amid the downtrend, risk appetite remained subdued as persistent ETF outflows, corporate treasury adjustments, and fresh U.S. sanctions on Iranian crypto channels weighed on sentiment. The Fear & Greed Index hovered in “Extreme Fear” territory near 20, signaling caution despite selective innovation in staking products and preferred stock offerings.
Market Overview
Bitcoin (BTC) traded between roughly $63,000–$64,500 after plunging toward $61,500–$62,000 intraday, marking its weakest levels since late February or early March. The asset was down 5% in the 24-hour period, defending key supports amid thin liquidity.
US Sanctions Target Iran’s Crypto Lifeline with Nobitex Crackdown
The U.S. Treasury’s OFAC sanctioned Iran’s largest crypto exchange Nobitex—which processed over 50% of the country’s 2025 crypto inflows—along with Wallex, Bitpin, Ramzinex, and associated executives.
Grayscale Launches Hyperliquid Staking ETF (HYPG) on Nasdaq
Grayscale debuted its Hyperliquid Staking ETF (ticker: HYPG) on Nasdaq, providing exposure to HYPE tokens plus staking yields of approximately 2.2–2.3% APY.
With a competitive 0.29% gross fee — the lowest among U.S. HYPE products — the launch underscores growing institutional demand for yield-bearing crypto vehicles even in down markets. HYPE-related inflows contrasted sharply with outflows from BTC and ETH ETFs.
BitMine Issues 9.5% Series A Preferred Stock
BitMine Immersion Technologies (BMNR), linked to Fundstrat’s Tom Lee, announced a public offering of up to 3 million shares of 9.5% Series A Perpetual Preferred Stock targeting ~$300 million.
Proceeds will support ETH acquisitions, staking expansion, working capital, and potential buybacks. Dividends are cumulative and paid Today in Crypto: Bitcoin Dips Toward $62K on Continued ETF Outflows, US Sanctions Iran’s Nobitex and More
Amid the downtrend, risk appetite remained subdued as persistent ETF outflows, corporate treasury adjustments, and fresh U.S. sanctions on Iranian crypto channels weighed on sentiment.
Written By:
Gopal Solanky
Last updated: 25 minutes ago
Sponsored: Stake - Higher Odds on Every Match with Stake Sportsbook Join now!
Today in Crypto: Bitcoin Dips Toward $62K on Continued ETF Outflows, US Sanctions Iran’s Nobitex and More
The cryptocurrency market faced renewed selling pressure over the past 24 hours, with Bitcoin testing multi-month lows near $61,500–$62,000 before a modest technical rebound.
Total market capitalization dropped to $2.21 trillion, reflecting a 3.8% decline amid elevated trading volumes (reaching $412 billion) and over $1.5 billion in liquidations—as per CoinMarketCap data.
Sponsored: Stake - Higher Odds on Every Match with Stake Sportsbook Join now!
Marketcap and volume chart from coinmarketcap
Source: CoinMarketCap
Amid the downtrend, risk appetite remained subdued as persistent ETF outflows, corporate treasury adjustments, and fresh U.S. sanctions on Iranian crypto channels weighed on sentiment. The Fear & Greed Index hovered in “Extreme Fear” territory near 20, signaling caution despite selective innovation in staking products and preferred stock offerings.
Market Overview
Bitcoin (BTC) traded between roughly $63,000–$64,500 after plunging toward $61,500–$62,000 intraday, marking its weakest levels since late February or early March. The asset was down 5% in the 24-hour period, defending key supports amid thin liquidity.
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Bitcoin market overview char by Coinmarketcap
Source: CoinMarketCap
Altcoins showed broad weakness: Ethereum (ETH) held near $1,770–$1,800, down around 5%, Solana (SOL) around $69 (down 8%), XRP near $1.16 (down ~6%), while Cardano (ADA) slumped to multi-year lows. Hyperliquid’s HYPE-related products remained among the few bright spots amid the broader rotation away from majors.
Today’s liquidations exceeded $1.64 billion (mostly longs), amplifying the downside. Spot Bitcoin, Ethereum, Solana, and XRP ETFs continued recording significant outflows, with cumulative pressure mounting over recent sessions.
This latest sell-off is largely attributed to profit-taking, capital rotation into AI and gold, and macro uncertainties.
Key Highlights of the Day
Here are the major developments from the past 24 hours (as of 1:30 Pm IST – June 4, 2026):
US Sanctions Target Iran’s Crypto Lifeline with Nobitex Crackdown
The U.S. Treasury’s OFAC sanctioned Iran’s largest crypto exchange Nobitex—which processed over 50% of the country’s 2025 crypto inflows—along with Wallex, Bitpin, Ramzinex, and associated executives.
The platforms were accused of enabling sanctions evasion, IRGC support, militant financing, and moving regime funds during blackouts. This marks a major escalation in the U.S. “Economic Fury” campaign, disrupting a critical parallel financial channel for Iran.
Zcash Block Halt Rumor Debunked After Faulty Node Confusion
Zcash (ZEC) triggered a brief panic when explorers showed no new blocks for over four hours following its Orchard upgrade. Social media rumors of a network halt spread quickly, but developers and providers like Helius confirmed it was a faulty node issue.
The actual blockchain continued producing blocks and processing transactions normally, highlighting explorer reliability challenges post-upgrade.
Grayscale Launches Hyperliquid Staking ETF (HYPG) on Nasdaq
Grayscale debuted its Hyperliquid Staking ETF (ticker: HYPG) on Nasdaq, providing exposure to HYPE tokens plus staking yields of approximately 2.2–2.3% APY.
With a competitive 0.29% gross fee — the lowest among U.S. HYPE products — the launch underscores growing institutional demand for yield-bearing crypto vehicles even in down markets. HYPE-related inflows contrasted sharply with outflows from BTC and ETH ETFs.
BitMine Issues 9.5% Series A Preferred Stock
BitMine Immersion Technologies (BMNR), linked to Fundstrat’s Tom Lee, announced a public offering of up to 3 million shares of 9.5% Series A Perpetual Preferred Stock targeting ~$300 million.
Proceeds will support ETH acquisitions, staking expansion, working capital, and potential buybacks. Dividends are cumulative and paid weekly in cash, adopting a MicroStrategy-style corporate treasury approach for Ethereum holdings.
Broader Sentiment and Outlook
Bitcoin holding above $62,000–$63,000 remains technically important. A convincing recovery could ease fear, while a break lower risks testing $60,000. Altcoin leadership remains fragmented, with infrastructure and yield narratives showing relative strength against broader weakness.
#TrendingTopic #TopCryptoNews #NewsAboutCrypto #UpdateAlert

NEAR Protocol ($NEAR ) is once again attracting attention in the cryptocurrency market as investors look for scalable and user-friendly blockchain networks. Designed to provide fast transactions, low fees, and a developer-friendly ecosystem, NEAR has emerged as one of the leading Layer-1 blockchain platforms competing with Ethereum and other major networks.
One of the key strengths of NEAR Protocol is its innovative sharding technology, known as Nightshade, which allows the network to process a large number of transactions efficiently. This helps reduce congestion while maintaining low transaction costs, making it attractive for developers building decentralized applications (dApps), gaming projects, and DeFi platforms.
Market analysts note that growing adoption of artificial intelligence, Web3 applications, and blockchain-based services could benefit NEAR in the long term. The network has also expanded partnerships and ecosystem development initiatives, helping attract new users and projects.
Despite ongoing volatility in the broader crypto market, NEAR has shown resilience and remains a favorite among investors seeking exposure to next-generation blockchain technology. Trading volumes have increased in recent weeks as traders speculate on future ecosystem growth and potential price appreciation.
As the cryptocurrency industry continues to evolve, NEAR Protocol's focus on scalability, usability, and innovation positions it as a project worth watching. While short-term price movements remain uncertain, many investors believe NEAR could play an important role in the future of decentralized applications and Web3 infrastructure.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry risk, and investors should conduct their own research before making investment decisions.
#NewsAboutCrypto
#NEAR🚀🚀🚀

The crypto trading world is buzzing with activity at the moment. If you're looking to create content or trade yourself, here are the 3 biggest and trending news items that are driving the market:
### 1. Changes in Regulation and Tax Rules (The Biggest Trend)
Right now, there's a massive shift happening globally and locally regarding crypto regulations.
* **What's happening:** Instead of completely banning crypto, the government is now introducing **strict taxation** and **KYC compliance**. Following regulatory fines on several major exchanges, institutions (big banks and companies) are now entering the market more cautiously.

🔥🔥🔥 Market Brief - Monday, June 1
📊 Macro & Markets
+ Brent crude edged higher to $93, while Bitcoin continued to trade around $73K. BTC closed May down 3.61%.
+ No progress has been reported in the U.S.–Iran negotiations. A meeting involving President Trump has reportedly pushed talks back by at least another week. [CT]
🏛 Policy & Regulation
+ The U.S. House of Representatives is expected to shift its focus toward tokenization initiatives following the Clarity Act. [CT]
🏦 Exchanges & Companies
+ Coinbase officially launched INR deposits and withdrawals via the banking system in India starting June 1, reducing fraud risks associated with P2P markets. [CT]
+ Kraken has entered the Bitcoin perpetual futures market in the U.S., following Coinbase and Kaishi, as the CFTC has given the sector the green light. [CT]
🔐 Security
+ Gravity Bridge, the cross-chain bridge connecting Ethereum and Cosmos, suffered a $5.4M exploit, reportedly linked to a compromised contract key. [CT]
🗓 Economic Calendar
+ 19:15 UTC+7 | June 3: ADP Private Payrolls (May)
• Forecast: 116K
• Previous: 109K
+ 19:30 UTC+7 | June 5: Nonfarm Payrolls (May)
• Jobs Added: Forecast 95K–102K | Previous 115K
• Unemployment Rate: Forecast 4.3% | Previous 4.3%
🔓 Token Unlocks
+ June 1: EigenCloud unlocks 36.82M $EIGEN (6.55% of circulating supply), worth approximately $7.75M.
+ June 1: Sui unlocks 13.72M $SUI (0.34% of circulating supply), worth approximately $12.29M.
+ June 6: Hyperliquid unlocks 9.92M $HYPE (2.54% of circulating supply), worth approximately $713.8M.
+ June 9: HumidiFi unlocks 256.7M $WET (111.59% of circulating supply), worth approximately $17.94M.
🪂 Airdrops$
+ EXP Season 2 Snapshot has received a new update from SoSoValue. [CT]
#NewsAboutCrypto $BTC $BNB

The Solana community is buzzing after a new proposal from @cavemanloverboy suggested a major tokenomics change that could make $SOL deflationary during periods of high network activity. 🚀💰
The proposal introduces a resource-based fee burn mechanism, dramatically increasing the amount of SOL removed from circulation. Current estimates suggest daily burns could rise from just 648 SOL to between 10,800 and 64,800 SOL per day. 📉🔥
With Solana currently experiencing around 60,000 $SOL in daily inflation, high network usage could potentially offset or even exceed new token issuance, creating a powerful supply shock. ⚡📊
Investors are closely watching this development, as reduced supply combined with growing demand could strengthen SOL's long-term value proposition. 👀💎
Could this be the catalyst that takes Solana to the next level? 🚀🌕
#coin #Bracking #NewsAboutCrypto

Heavy short liquidations stacked above $78K 👀
Funding remains negative while Open Interest keeps climbing 📈
That combination often signals pressure building for a potential short squeeze.
If BTC breaks resistance with strong volume, volatility could accelerate fast ⚡
Watching closely:
$BTC $ETH $SOL $SUI
#Bitcoin #Crypto #BinanceSquare #BTC. #NewsAboutCrypto $XRP $BTC