US Bitcoin ETF outflows and bridge exploits hit the market, while BTC reclaims $64K amid heavy spot pressure and extreme fear. Bitcoin and Ethereum are showing different technical patterns after recent macroeconomic pressure and geopolitical volatility. Bitcoin is currently trading near $64,167, while overall market sentiment remains in extreme fear. The Crypto Fear and Greed Index stands at 20 today, compared with 23 yesterday and 20 last week. Trading data shows that if Ethereum falls below $1,642, cumulative long liquidation intensity across major centralized exchanges could reach USD 627 million. If ETH breaks above $1,813, cumulative short liquidation intensity could reach USD 491 million. Bitcoin also faces heavy liquidation walls on both sides. A move above $67,056 could trigger up to USD 984 million in short liquidation intensity, while a drop below $60,777 could expose the market to USD 818 million in long liquidation intensity. Over the past 24 hours, total liquidations across the market reached USD 202 million. Long liquidations accounted for USD 106 million, while short liquidations reached USD 95.9236 million. The largest single liquidation took place on an Ethereum contract at a major CEX, with a value of USD 3.3122 million. On-chain monitoring also shows that a whale is shorting approximately USD 48.78 million worth of Bitcoin, SOL, and Ethereum with 20x leverage. The Bitcoin short position was opened at $63,849, while the SOL short position was opened at $73.351. The address is currently facing around USD 644,000 in unrealized losses. From a sector perspective, most crypto sectors moved higher. The AI sector led the market with a 2.87% gain over the past 24 hours, while the DeFi sector rose 1.02%. Only PayFi and GameFi posted slight declines, with Axie Infinity falling sharply by 14.40%. In spot ETF flows, Ethereum spot ETFs recorded USD 10.05 million in net outflows last week, marking their sixth consecutive week of outflows. Their total net assets now stand at USD 9.3 billion. By contrast, XRP spot ETFs and HYPE spot ETFs recorded net inflows of USD 10.66 million and USD 27.95 million, respectively. This shows a clear rotation and divergence in institutional capital across different crypto assets.

Source: Alternative

Key News Highlights:

Bitcoin Reclaims $64,000 as Spot Selling Pressure Remains Heavy Across Major Venues

Bitcoin rebounded on Sunday and reclaimed the $64,000 level, briefly reaching a local high of $64,522 before pulling back slightly. The move came even as geopolitical uncertainty between the US and Iran returned to focus. Tehran closed the Strait of Hormuz oil route, putting the existing peace agreement under fresh pressure. Despite this backdrop, Bitcoin largely shrugged off the negative impact of rising geopolitical tension. In response to the situation, US President Donald Trump posted a strong statement on Truth Social, warning Iran to stop the activity of its proxies in Lebanon or face tougher strikes. Before US futures markets opened, crypto traders remained notably cautious. One analyst on X said Bitcoin’s rise during a period of escalating geopolitical tension looked unusual, although the analyst still expected the price to potentially test the $66,000 resistance area in the short term. At the same time, another market observer warned that the past six Mondays had all shown a similar pattern. Bitcoin formed a local high and then moved lower soon after. This historical pattern may suggest that the current rebound could peak quickly. A closer look at exchange order books also shows that the latest move appears to be driven mainly by derivatives and perpetual contracts, rather than a clear increase in spot buying. Spot sellers on a major CEX continued to sell aggressively into the move as the price climbed. This heavy spot resistance has limited further upside for bulls. Overall, without stronger support from spot demand, a derivatives-led rally makes the current battle between long and short positions more complex.

Secret Network Bridge Exploited for USD 4.67 Million Through Infinite Mint Bug

Secret Network, a privacy-focused Layer-1 blockchain, recently suffered a bridge-related exploit after hackers used an “infinite mint” bug to steal assets worth up to USD 4.67 million. A new report from blockchain research firm Common Prefix shows that the attack actually took place on June 10. However, the contract flaw was not detected immediately. The incident was only exposed on June 17, after a drained account triggered an insufficient funds error and caused a failed cross-chain transaction. The attacker exploited a serious flaw in the smart contract, which failed to properly verify the source of inbound transfers during the minting process. This allowed the attacker to maliciously mint large amounts of wrapped saToken assets without real backing. The attacker then redeemed these fake saTokens through legitimate channels for real Axelar-backed assets. This drained multiple assets from the escrow contract, including saUSDT, saUSDC, saDAI, and saWETH. The attacker then moved the stolen funds to Ethereum and converted them into ETH. After that, the funds were split across around 30 different crypto wallet addresses and later deposited in batches into centralized exchanges for laundering and cash-out activity. This security incident is one of at least 22 crypto protocol exploits recorded this month. Its loss size ranks below the USD 32 million loss suffered by Humanity Protocol and the USD 8 million loss suffered by Syscoin Bridge during the same month. Secret Network later clarified that its native token, SCRT, was not directly affected by the incident. However, SCRT is still down around 99% from its 2021 all-time high and is currently trading near $0.058. Axelar also issued a statement emphasizing that its core network infrastructure and the IBC cross-chain protocol were not compromised. The affected token contract was not developed, deployed, or maintained by the Axelar team.

Spot Bitcoin ETFs See Record 30-Day Outflows as Institutional Sentiment Cools During Market Pullback

Amid the current crypto market pullback, US-listed spot Bitcoin exchange-traded funds recorded their largest 30-day net outflow since their launch in January 2024. According to the latest data from Galaxy Research, US spot Bitcoin ETFs saw USD 6.35 billion in rolling net outflows over the past 30 trading days. The outflow trend intensified further last week, marking the sixth consecutive week of net redemptions for this category of funds. As of now, cumulative net inflows into spot Bitcoin ETFs have fallen from their peak of USD 63 billion in October 2025 to USD 53.4 billion. Galaxy Research noted in its report that daily outflows have recently continued to deepen and expand. Market observers generally believe that this sustained outflow may reflect a more cautious short-term stance among institutional investors toward Bitcoin. However, BlackRock’s US Head of Equity ETFs, Jay Jacobs, said in a media interview that daily fund outflows can be driven by many market factors. Investors may be carrying out normal portfolio rotations, such as selling an existing spot ETF and buying a newly launched Bitcoin premium income ETF. Bitcoin has fallen around 17.4% over the past month. Its price has been pressured by macroeconomic factors such as rising US inflation data and the ongoing geopolitical conflict between the US and Iran. Despite sharp short-term volatility, Jacobs emphasized that this has not changed BlackRock’s long-term view of Bitcoin as a global, decentralized, and non-sovereign monetary alternative.

Taiko Urges Users to Withdraw Funds After Bridge State Verification Mechanism Is Compromised

Ethereum Layer-2 scaling network Taiko issued an urgent announcement on X early Monday, confirming that the chain state verification mechanism for its bridge and ERC20 Vault contracts on Ethereum had been compromised. The incident allowed attackers to steal up to USD 1.7 million worth of crypto assets. According to an initial investigation by blockchain security firm Blockaid, the root cause appears to be a logic flaw in how the Taiko bridge verified source-chain signals. This allowed attackers to make the Ethereum network accept false message proofs without providing corresponding valid proofs on the Taiko blockchain. The verification flaw allowed the attackers to register and later retrieve fraudulent bridge messages, which led to unauthorized asset releases from the ERC20 token vault. On-chain tracking firms Lookonchain and PeckShield later reported that the attacker quickly deposited 1.99 million TAIKO tokens, worth about USD 189,000, into a centralized exchange for selling. TAIKO is currently trading near $0.084, down around 98% from its 2024 peak. According to smart address analysis from Arkham Intelligence, the attacker’s main wallets still hold around USD 1.5 million in assets, mostly in ETH. This serious security incident adds to the growing wave of decentralized finance exploits recorded this month. According to DeFiLlama data, it is the 23rd major crypto protocol exploit recorded in June. Just days earlier, the market had seen the Secret Network bridge lose USD 4.67 million. On Saturday, the OLPC/LABUBU liquidity pool on PancakeSwap was also drained of around USD 1.1 million. In response to the unpredictable contract risk, the Taiko team began a joint investigation with partners and paused affected systems. The team also strongly advised all users to immediately withdraw their funds from all bridge protocols deployed on Taiko to avoid potential losses.

Disclaimer: The information provided in this section is for informational purposes only and doesn't represent any investment advice or FameEX's official view.