XRP has fallen to its lowest level in more than three months as persistent selling pressure continues to outweigh signs of investor accumulation, creating a conflict between on-chain activity and market performance.
According to the latest data published by Glassnode, the short-term outlook for the Bitcoin market continues to deteriorate. The company stated that Bitcoin is trading around $71,300 and that downside risks remain elevated due to increasing selling pressure in the spot market and accelerating ETF outflows.
Exchange-traded funds (ETFs) investing in Bitcoin and Ethereum ended the final week of May under continued pressure from investor withdrawals, with combined outflows exceeding $1.6 billion as investors reduced exposure to the market's largest cryptocurrency funds.
Solana has completed eight consecutive months of negative performance for the first time in its history. As of June 1, 2026, SOL was trading around $81 despite on-chain metrics remaining at levels that would have been considered highly bullish just a year ago.
On June 1, XLM climbed above the $0.27 level, posting a brief 14% daily gain before a broader market sell-off reduced its advance to 5%. Alongside Hyperliquid and TRON, XLM was among the few top-20 digital assets to record gains on a day when the overall cryptocurrency market declined by 1.4%.
On May 26, a large investor whose identity remains unknown sold $1.26 billion worth of BlackRock's Bitcoin ETF in a major over-the-counter (OTC) transaction. The entire position was sold below market price, contributing to Bitcoin's decline below the $73,000 level.
Ethereum has fallen below the key $2,000 support level as institutional outflows, geopolitical tensions, and a bearish technical breakdown continue to weigh on market sentiment.
Ethereum was trading at $1,977 on June 1, entering its historically worst calendar month below the $2,000 level for the first time since 2023. At the same time, the monthly chart shows the CRT candle range low at $1,750, while the lower daily Bollinger Band sits at $1,936.
Bitmine, a publicly traded company known for its Ethereum-focused investment strategy, has significantly increased its Ethereum holdings through new purchases over the past week. According to the company's statement, Bitmine acquired 26,497 ETH last week for approximately $53.07 million.
The close of XRP's May monthly candle has officially shattered investor optimism, creating a classic bearish setup just as summer begins. The technical compression of Bollinger Bands on XRP's higher time frames on TradingView, combined with on-chain data, suggests that the token's price risks falling below the psychological $1 level in the coming weeks.
Binance, one of the world's largest cryptocurrency exchanges, has announced that it will remove several trading pairs from its margin trading platform. According to the exchange's statement, various cross-margin and isolated-margin trading pairs will be removed from the platform at 09:00 on June 5, 2026.
According to the latest data, Strategy made its first Bitcoin sale, selling a total of 32 BTC at a price of $77,135 per coin.
In May 2026, the cryptocurrency market ended the month in the red. Bitcoin lost 3.41%, while Ethereum declined by 11.07%, according to CoinGlass data.
The leading cryptocurrency, Bitcoin ($BTC), is facing both Middle East-related risks and the problem of overly crowded long positions on the first trading day of June. This pushed the price below $73,000, and CoinShares published its weekly cryptocurrency report, stating that outflows last week amounted to $1.67 billion.
The crypto market is suffering from a liquidity drought even as global market conditions show signs of improvement elsewhere. The most evident signal of this drought is the $1.81 trillion in total market capitalization that has exited the market, dampening the overall outlook significantly.
The native token of the Hyperliquid project — $HYPE — set a new all-time high above $74. At one point, the asset was trading near $74.5, and at the time of writing, it was around $73.
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