PANews reported on June 2 that QCP Capital published an analysis in the TG channel pointing out that nearly $1 billion in positions in the cryptocurrency market have been liquidated since Friday, and even BlackRock's IBIT BTC ETF ended its 34-day streak of inflows, with an outflow of $430 million.

However, the Bitcoin market has remained remarkably calm, hovering above $102,000 despite high volatility, proving its potential support. Bitcoin volatility is steadily compressing, and risk reversals across maturities have begun to normalize, indicating that the market expects milder price action in the short term. While some investors fled, others doubled down, with Strategy and Metaplanet apparently not to be outdone, with Metaplanet buying another $114 million worth of BTC after the market price fell, bringing its total holdings to a symbolic 8,888.