Morning Minute: Bitcoin Recovers After Fall Below $60k
Bitcoin briefly fell below $60K, then rebounded near $63K, after more than $1.6B in liquidations and a roughly $2.5T crypto market-cap drawdown from the October 2025 peak. Pressures include AI trade unwinding, uncertainty around rates, and lingering Saylor-related trust issues, though a rotation from gold and cooling AI momentum could support crypto later. Zcash jumped 45% after developers proposed the Ironwood upgrade to address a four-year Orchard privacy-pool vulnerability and restore provable supply integrity. The design forces migration through a verifiable checkpoint, with activation targeted for July 2026. SpaceX is set for a June 12 Nasdaq debut at $135 per share, implying a $1.75T valuation and about $75B raised, with unusual retail access. The raise is also seen as a drag on crypto as capital rotates into the IPO. Congress also moved forward with seven crypto tax discussion drafts, signaling the most serious tax-policy push yet alongside market-structure efforts.
