June 6 Morning Report: The market continues to pull back, BTC at 61278 (-2.9%), ETH at 1593 (-8.9%), BNB at 576 (-3.7%), SOL at 64.7 (-5.2%). The total market cap has returned to around $2.19 trillion, and risk appetite is still cooling down. Don't rush to guess the bottom now; first, let's see if BTC can hold the 60,000 level. For altcoins, don't blindly buy yet—wait until sentiment and volume both recover before making moves.

Only new retail investors who just entered the market still don't understand the current trend today. Today's bottom is tomorrow's top. At this moment, it's not about skills or position management. What matters is damn courage. As Wang Jianlin said, having guts is more important than attending Tsinghua or Peking University.

Maji: Thank you, cryptocurrency. Going long on $ETH has already accumulated a loss of 60 million USD.

Shocking reversal, this big short guy switched his $HYPE position from short to long, opened more than 2x leverage, entry price 71.12, holding 117,700 tokens, currently at an unrealized loss. Notably, this guy's 890,000 tokens in spot remain untouched. Although I said I wouldn't play altcoins anymore, it feels like this guy has a bit of a conspiracy theory vibe, purely a honeypot fishing tactic. — Personal opinion, not investment advice.

Old Hei liquidated all his $HYPE, not sure if it’s because of the price drop. This guy was still eyeing 150 just a few days ago, but today he went all in on liquidating. Old Hei, as an industry OG and exchange owner, isn’t doing so well in the exchange field now, but he still knows his way around crypto trading.

The closing logic of the previous one: as shown in the picture.

Cryptocurrency nowadays faces daily challenges and situations. 1️⃣ Institutional funds are shifting and selling off. 2️⃣ The US stock market is too strong, drawing attention including from exchanges. 3️⃣ The World Cup is coming soon, and the world's biggest gamblers are all heading there. Ask yourself honestly, would you buy the dip now? If you wouldn't, then who would? Trading is about identifying the buyer profile; if you can't find it, then lower the price and keep searching until you find the buyer profile.

How to determine if a stage bottom has been reached? Look at market sentiment, then look at changes in fees and positions. Then ask yourself honestly, would you buy spot at this price? If you feel like you want to enter spot, then buy. If you still don't want to enter, then why do you think others would? Who doesn't want to buy cheap assets? This world is just a makeshift troupe; just follow your own heart.

Good news: Maji avoided liquidation during the morning dip by continuously reducing his position. Bad news: He rushed in again with 250,000, doubling his Ethereum position from before. He currently holds a total of 4,075 $ETH, with an average entry price of 1866 and a liquidation price of 1831. Brothers, do you think the morning dip is over? Can Maji turn this trade from a loss into a profit?

Woke up to $BTC starting with 65, a drop of tens of thousands in just a few days 📉 No attachment, no hesitation, no dragging it out. There wasn’t a single rebound throughout the entire decline. Who on earth is selling at any cost? It feels like only outsiders could do this, since insiders usually give retail investors some breathing room when dumping. This is a straight-up suffocating kill. Most importantly, funding rates still show quite a few people are leveraged to buy the dip—are they really going against themselves? Those who understand the times are wise. It’s time to give up the eternal bull market fantasy early; this market needs to be reassessed again.