Cryptocurrency
Cryptocurrency miners put up 70% off to sell miners equipment

Miners have started selling cryptocurrency mining equipment at prices 77% cheaper than in 2021. This was reported by The Wall Street Journal, citing data from LuxorTechnology, a mining brokerage firm. For example, sellers are now asking only $24 for 100 Txps, though last year the price tag was $106, the publication writes.
The chief operating officer of Luxor, Ethan Vera, says that the main sellers in the market so far are large giants like Argo Blockchain. To recap, the editorial board previously wrote that Argo could halt operations if the company fails to attract new investors. As Vera notes, almost everyone in the mining market is now selling equipment.
At the same time, management funds want to take advantage of selling mining equipment and are eyeing a possible buyout. According to the newspaper, the investment giant Grayscale Investments has established a new fund to buy up mining equipment and has already started looking for investors. The entrance deposit is $25,000, and depositors will receive a share of the cryptocurrency mining profits. Grayscale CEO Michael Sonnenschein said in a comment to the publication that despite tough times for the crypto market, investors see the current state of affairs “as an opportunity.”
In addition to Grayscale, Bitdeer, a firm owned by Bitmain co-founder Jihan Wu, is also on the hunt for cheap mining equipment. The editorial wrote that the firm has set up a $250 million fund to buy mining devices from financially unstable bitcoin miners.
Recall that earlier Luxor Technologies co-founder Ethan Vera said that many lenders (Bable Finance, Galaxy Digital, bankrupt Celsius Network, BlockFi, Foundry Networks) are concerned that they have made too many loans to secure mining devices. He estimates that the firms have given out a combined $4 billion in loans.
We previously reported that the “father” of the Internet is calling for DeFi Web3 to be ignored.
Cryptocurrency
Bitcoin Price Recovery Begins With Jump to $106K as Monero Marks 5% Increase (Market Watch)

Following a dull weekend marked by a notable price dip to $103,000, bitcoin’s price has recovered some ground and reached $106,000 earlier today.
Most altcoins are with minor gains today, including HYPE, which has posted a 3% increase. XMR leads the larger-cap alts with a 6% surge.
BTC Aims at $106K
The all-time high registered on May 22 was followed by a violent correction on the following day when US President Trump warned that the EU might face another set of tariffs. Although the two parties reached some sort of an agreement and the tariffs were delayed for over a month, BTC failed to recapture its momentum and was stopped at $110,000 on a couple of occasions during the previous business week.
It continued to trade sideways until Friday evening, when Trump blamed China for violating their trade agreement. Beijing responded almost immediately, and bitcoin slumped by several grand. The culmination transpired on Saturday when BTC slipped to $103,100, which became a 12-day low.
However, it maintained that level on Sunday and even recovered some ground to around $104,000. During the Monday morning Asian trading session, BTC added a few more grand and tapped $106,000, where it faced some rejection and now sits about $500 lower.
Its market cap has risen to $2.1 trillion on CG, while its dominance over the altcoins is up to 61.5%.
XMR Pumps
Most altcoins have marked insignificant gains over the past 24 hours, such as XRP, BNB, SOL, DOGE, TRX, ADA, and SUI. HYPE stands out as the top performer from the largest 20 alts, while ETH has slipped inches below $2,500.
Monero’s native token has gained the most from the top 60 alts, as a 5.4% increase has pushed it to over $345. Other impressive performers include FLR, SPX, and FARTCOIN.
The total crypto market cap has increased by around $30 billion since yesterday and is up to $3.41 trillion on CG.
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Cryptocurrency
Modest Strategy Bitcoin Acquisition Brings Stash to Almost 581,000 BTC

The world’s largest corporate holder of bitcoin continues with its BTC accumulation strategy, this time with a relatively modest purchase.
Announced just minutes ago, Michael Saylor’s brainchild has spent $75.1 million to acquire 705 BTC at an average price of $106,495 per bitcoin.
Strategy has acquired 705 BTC for ~$75.1 million at ~$106,495 per bitcoin and has achieved BTC Yield of 16.9% YTD 2025. As of 6/1/2025, we hodl 580,955 $BTC acquired for ~$40.68 billion at ~$70,023 per bitcoin. $MSTR $STRK $STRF https://t.co/K4tex3qHrN
— Michael Saylor (@saylor) June 2, 2025
This week’s announcement is a lot smaller than almost all made since the US elections at the end of last year. Since then, the company has made countless purchases, many of which were in the billions of dollars.
Nevertheless, Strategy’s stash continues to increase and is now at 580,955 BTC, bought for $40.68 billion or an average price of just over $70,000 per BTC. This means that the current value of the holdings is well above $60 billion, given today’s bitcoin prices (or a paper gain of around $40 billion).
Earlier today, another big BTC accumulator, Metaplanet, announced its latest acquisition, which was even bigger than that of Strategy.
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Cryptocurrency
Hope for Altcoins? Analysts Predict Epic Finale to This Bull Cycle

A lot of market dynamics witnessed in past bull cycles have played out differently in this one. One of them is the on-chain patterns and trends that precede altcoin seasons, which refer to periods when alternative cryptocurrencies outperform bitcoin (BTC).
While traders are skeptical that the market will witness an altseason before this cycle is over, analysts at the on-chain data intelligence platform CryptoQuant believe that all hope is not yet lost. Investors still stand a chance to make profits with altcoins in this cycle.
Not Time to Lose Hope
In previous cycles, BTC rallies were preceded by a steady decrease in the proportion of mid-to-long-term holding volumes. With new capital flowing into the market at the time, altcoins eventually surged towards the end of those cycles. However, the opposite has been the case this time; mid-to-long-term holding volumes have surged each time BTC rallies to new highs.
According to pseudonymous analyst Crypto Dan, the price movement of altcoins in this cycle has tallied with that of BTC. Bitcoin has constantly faced corrections after small gains in this cycle, and during those dips, altcoins have also suffered significant declines, indicating overall weakness.
The current bull cycle is nearing its final stages, and at this phase, it is almost impossible for investors to make profits with altcoins. However, since altcoin rallies have corresponded with BTC surges, Dan insists there is still hope.
When Altseason?
Bitcoin is yet to experience its final leg for this cycle, which means the asset’s dominance is likely to decrease. If the market plays out as Dan predicts, then altcoins may experience higher rallies than seen in previous patterns when bitcoin’s dominance plummets, marking the end of the cycle. Hence, all indicators point to bitcoin’s next upward move, which could occur at any moment from now.
“It’s not time to abandon hope just yet. Since we’re already in the latter half of the cycle, it’s worth waiting for Bitcoin’s next upward move,” Dan stated.
It is worth mentioning that Dan is not the only analyst who believes altcoins still stand a chance. CryptoPotato reported that many other traders and analysts believe this altseason will be epic, making the rally seen in 2021 seem tiny.
However, some have warned that not all tokens will go up during the altcoin season. Only a few chosen assets will record significant gains as they attract new liquidity.
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