Feilong Daily｜June 2, 2026 (1) Bitcoin sentiment continues to decline ETF funds are still flowing out, with a net outflow of $484 million on June 1 alone. U.S. stock investors are all fleeing. At the same time, Mt. Gox made a large transfer after 6 months, moving 10,423 BTC (approximately $739 million). It hasn’t hit exchanges yet. The market’s confidence in Bitcoin is currently lacking, entering the extreme fear zone. This is both a crisis and an opportunity! (2) HYPE remains strong HYPE hit a new high of $75.8 today. Short sellers are getting wrecked, with Loracle accumulating losses of over $46 million. Our BitEagle cost basis is at $31. We already sold the principal at $68, and we’re holding the rest. The strong get stronger, and the weak will continue to weaken. (3) A joke on a certain U.S. stock platform WOK caused a stir on its first day of trading. With a market cap of less than $200,000, it managed to generate nearly $400 million in trading volume. The price was pumped up and then dumped back to square one. For struggling Chinese concept stocks with the ability to issue more shares, the more you buy, the more they might issue. You think it’s a pump, but in reality, you might just be funding the company. (4) Anthropic IPO incoming Previously, we talked about how the SpaceX IPO could drain liquidity from the industry. Yesterday, Claude Code’s parent company secretly filed an IPO prospectus with the SEC. Another massive project, and with OpenAI also planning to go public, these projects will severely drain liquidity from risk assets. In short, now is the time to control your impulses. Avoid chasing highs, observe more, and focus on shorting at peaks. I’ll let you know when it’s time to buy the dip.