- Bitcoin holds above $107K amid ETF inflows and low Binance activity, indicating strong conviction from both whales and retail.
- Polyhedra’s $ZKJ token crashed over 80% due to liquidity exits, highlighting risks in newer tokens despite broader market recovery.
- Crypto market inflows hit $1.9B last week; Fear & Greed Index at 61 shows cautious optimism as altcoin momentum weakens.
Bitcoin and Ethereum gained over the weekend, absorbing last Friday’s shock plunge driven by ongoing geopolitical instability. According to CryptoRank, the overall crypto market added $1.9 billion in inflows last week, pushing the total market cap to $3.50 trillion.
Bitcoin climbed by 1.80% to $107.1K, while Ethereum rose 4.23% to $2,628. Despite recovering, markets remain cautious. The Fear and Greed Index is at 61, indicating moderate greed, while the Altcoin Index dropped to 28 out of 100, suggesting weak altcoin momentum.
Polyhedra’s ZKJ Crashes Over 80%
A major crash hit Polyhedra Network’s ZKJ token, which plunged over 80% following sudden liquidity exits on Binance. According to CryptoRank, large holders led to what appears to be a coordinated liquidity pullout.
This move erased most of the token’s value within hours. As traders reacted, the market faced $278.43 million in 24-hour liquidations. However, smaller cap tokens saw surprising gains. Levana Protocol’s $LVN surged by 58.1%.
LABUBU followed with 43.6%, and CreatorBid’s $BID with 35.3%. Eagles Landing and MarinadeFinance also rallied by over 33%. These surges came amid broader market uncertainty and showed selective investor interest for higher-risk assets.
BTC Holds Firm Despite Middle East Tensions
QCP Broadcast reported that Bitcoin’s recovery from its $102.8K low was supported by continued institutional accumulation. Both Metaplanet and Strategy added to their positions during the dip.
Additionally, spot BTC ETFs marked their seventh straight week of inflows. The digital asset managed to hold above the $100K psychological level despite increased geopolitical risks. Front-end implied volatility remained below 40, and the VIX hovered near 20, both indicating restrained market fear.
Meanwhile, traditional safe assets like U.S. Treasuries and Asian government bonds attracted inflows. Traders remained alert, as the possibility of a blockade in the Strait of Hormuz or direct military involvement could destabilize global assets.
Binance Whales and Retail BTC Activity
Market behavior suggested a unified holding stance from both retail and institutional investors on Binance. BTC inflows from both groups dropped to the lowest levels of the current cycle.
This change indicated high conviction across investor categories, as participants avoided selling amid uncertainty. Previous synchronized inflow periods marked major market tops, but current behavior shows patience and a wait for macroeconomic clarity.
Binance also announced upcoming changes. A TGE launch for Bombie (BOMB) is scheduled for June 17, with 50 million tokens reserved. New airdrops for ULTI and VELO are live. Additionally, Binance will list new spot and perpetual trading pairs including FLUX/USDC and UNIUSDC with up to 75x leverage.
Market Rebounds with Caution
The crypto market rebounded after last week’s dip, with Bitcoin and Ethereum gaining ground amid institutional support and reduced investor outflows. The ZKJ crash, however, showed the ongoing liquidity risks in newer assets. With geopolitical tensions still unfolding, markets remain alert. Broader behavior across whales and retail participants indicate strong holding trends and cautious optimism.
