In the past hour, total liquidations across the network reached $11.04 million, with $6.60 million from long positions, with $4.43 million from short positions. BTC liquidation $3.58 million, ETH liquidation $2.20 million.

MyToken data monitoring shows that on 【June 5th, 01:03】 (Beijing Time), an address starting with 【0x55fe】 transferred 【90000000 USDC】 to an address starting with 【0xa0b8】, with a total value of approximately 【90.07 million】. Real time monitoring of large transfers：https://www.mytokencap.com/large-transfers/

MyToken data monitoring shows that on 【June 5th, 01:00】 (Beijing Time), an address starting with 【0x55fe】 transferred 【90000000 USDC】 to an address starting with 【0xa0b8】, with a total value of approximately 【90.07 million】. Real time monitoring of large transfers：https://www.mytokencap.com/large-transfers/

MyToken data monitoring shows that on 【June 5th, 24:58】 (Beijing Time), an address starting with 【0x5b61】 transferred 【89999999.5 USDC】 to an address starting with 【0xa0b8】, with a total value of approximately 【90.07 million】. Real time monitoring of large transfers：https://www.mytokencap.com/large-transfers/

According to Huoxun Finance, Zach Pandl, Head of Research at Grayscale, pointed out that Strategy's announcement on June 1st of the sale of 32 BTC triggered a new round of volatility in the BTC market. While the scale of the sale itself has limited impact—Strategy still holds approximately 840,000 BTC, worth about $55 billion—its strategic shift has put pressure on market sentiment. Pandl believes the more critical factor is the impact of recent volatility on the price of Strategy's Variable Rate Preferred Stock Instrument (STRC). STRC is designed to maintain a price of approximately $100 per share, with a current dividend yield of 11.5%. If the share price falls below $100, it means investors are demanding higher returns. Strategy can increase the dividend, but this will increase future cash flow obligations, potentially leading to more BTC sales and further suppressing the BTC price. Its leveraged business model is under pressure, exacerbating BTC market volatility. At current STRC and MSTR share price levels, Strategy's ability to continue accumulating BTC is limited. However, in the long term, reducing Bitcoin holdings in leveraged digital asset treasuries and distributing BTC across more diversified corporate balance sheets is beneficial to the health of the Bitcoin ecosystem. However, other buyers need to enter the market before a sustainable bottom can be formed in the BTC price. Grayscale expects the BTC price to recover in the coming months, but its performance in the short term may lag behind other crypto sectors that benefit more directly from regulatory clarity.