💥 Weekly price roundup (Jun. 3–10): Markets crushed as hot CPI, IPO mania loom
Bitcoin sank to $61K as the Iran-Israel conflict re-escalated, then clawed back to $62K after today's inflation print. ETH dove below $1.6K for the first time since April 2025. Sentiment is back to "Extreme Fear" at 9/100 — levels last seen in early April. Some blame ETF outflows; others point at Saylor. But the real story might be SpaceX.
Here's the breakdown.
🚨 Key events
🗞 SpaceX IPO draining crypto dry? 🚀
The long-awaited SpaceX IPO is nearly four times oversubscribed — over $250B in demand chasing a $75B raise. Crypto markets have shed more than $180B in a week.
Binance alone has seen $2.1B in pre-IPO futures volume. Investors are selling risk assets to free up cash for the offering. Analysts call it a "temporary rotation" — but the bleeding is real.
🗞 May CPI just dropped — and it's hot 🔥
Economists expected headline CPI at 4.2% year-over-year — the hottest since April 2023 — and today's report proved them right. Core inflation also ticked up to 2.9% from 2.8% as expected. Inflation is still elevated, and crypto is holding on for the ride.
US oil inventories are near 40-year lows, while the Strait of Hormuz closure is still spiking energy costs. The probability of a rate hike in October is now 41% on CME FedWatch.
🗞 Cardano crashes to 2020 lows 📉
ADA just hit $0.15, its lowest since late 2020. TapTools is shutting down after losing both co-founders.
JPG.Store, the largest NFT marketplace, closed in May. DeFi TVL collapsed 85% from $905M to $140M.
Charles Hoskinson admitted he's tired of "managing a decline" and feels powerless to stop it. Whales holding 1-100M ADA are buying the dip — but that's the only green flag in a sea of red.
🗞 Strategy buys the dip — market doesn't care 🏦
One week after selling 32 BTC, Saylor's firm purchased 1,550 BTC for $101M. The company now holds 845,256 BTC bought for nearly $64B — currently worth about $51.6B.
The move failed to boost sentiment. Digital asset treasury concerns, quantum fears, and rising energy costs are all piling on — but macro is drowning out everything else.
📊 Crypto performance (7 days)
💰 Bitcoin (BTC): Collapsed from $67.1K to $62K on June 4, bottomed at $59,353, clawed back to $64K, then retreated again.
⏰ Currently at $62,239.93 (-6.8%)
💰 Ether (ETH): Crashed from $1.9K to $1,522 on June 6, rebounded to $1.7K, then started sliding again.
⏰ Now at $1,648.85 (-11.1%)
↗️ Top weekly gainers
🔸 BEAT ( 360.8%) — Insane run. Binance Alpha Spotlight gave it exposure, and the AI hunger is real. No other explanation, just momentum feeding itself.
🔸 SIREN ( 25.5%) — AI hype lifted this one too. Traders piled in with leverage, even though there's no project news. Just vibes and a hot sector.
🔸 币安人生 (BinanceLife) ( 12.2%) — Whales scooped up over $39M as funds rotate into high-momentum plays. Add in retail chatter about possible exchange backing, and you've got a classic speculative bid.
📉 Top weekly losers
🔻 LAB (-53.0%) — Topped out at $27.30 on June 2, then profit-takers moved in. Insider manipulation chatter and a failed hedge fund trade made it worse.
🔻 VVV (-34.9%) — Caught in the broader sell-off, hammered by negative sentiment from recent security exploits and declining derivatives leverage.
🔻 ZEC (-30.1%) — Shielded Labs dropped a bombshell: a four-year-old bug in Zcash's privacy pool. No one knows if it was exploited. Panic followed.