Bitcoin

Record

<p>Changpeng Zhao (<a href="https://x.com/cz_binance" rel="noopener noreferrer nofollow">@cz_binance</a>), the founder of Binance, is telling the market to take a breath. With <a href="https://x.com/search?q=%24BTC&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$BTC</a> trading near $61,000, the former exchange chief posted that "Bitcoin won't be 'dead' for too long," adding a pointed message for anyone reaching for the sell button: "Don't panic, in large friendly letters" — an apparent nod to the <em>Hitchhiker's Guide to the Galaxy</em>.</p>
<h2 id="a-sharp-drop-from-the-peak">A Sharp Drop From the Peak</h2>
<p>The backdrop is not trivial. <cite>Bitcoin was priced at $62,639.66 as of the morning of June 9, 2026</cite>, a level that sits well below the all-time high the asset reached in late 2025. <cite>In 2025, $BTC ended the calendar year about 30% below the all-time high it hit in October of that same year.</cite> The slide has continued into 2026, with a string of macro headwinds adding to the pressure. <cite>Bitcoin had traded near $64,100 in early June, falling from an intraweek high of $72,840, pressured by sticky inflation concerns, uncertainty around Federal Reserve rate cuts, renewed U.S. dollar strength, and accelerating ETF outflows.</cite></p>
<p><cite>On June 5, Bitcoin breached the critical $62,000 support level, causing massive liquidations of leveraged long positions totaling $1.5 billion, signaling a broad risk-off sentiment in the market.</cite><cite>US spot Bitcoin ETFs saw a loss of $2.7 billion in one week ending around June 5, 2026, contributing to Bitcoin's price decline and shifting investor interest toward other assets like AI and semiconductor stocks.</cite></p>
<h2 id="cz-s-track-record-on-bitcoin-calls">CZ's Track Record on Bitcoin Calls</h2>
<p>This is not the first time <a href="https://x.com/cz_binance" rel="noopener noreferrer nofollow">@cz_binance</a> has pushed back against bearish noise. <cite>The Binance founder has previously taken to X to counter claims that "Bitcoin is dead," sharing a link to the "Bitcoin Obituaries" website and emphasizing the enduring skepticism Bitcoin faces despite its significance in global finance.</cite> Earlier in 2026, <cite>Zhao said he believed Bitcoin could enter a "supercycle" in 2026, potentially breaking the asset's historical four-year pattern of post-halving booms and busts.</cite> More recently, <cite>he acknowledged the market environment has become highly unpredictable across all assets</cite>, walking back that supercycle call in the face of persistent FUD.</p>
<p><cite>Market sentiment indicators currently reflect the pessimism, with the Fear and Greed Index showing a score of 12, indicating extreme fear.</cite> Whether CZ's calm-down message lands depends largely on whether $BTC can hold key support levels in the weeks ahead. <cite>Traders and investors will likely focus on ETF flow trends, U.S. economic data, and whether Bitcoin can stabilise above key levels.</cite></p>
<p><strong>Sources:</strong><br><a href="https://fortune.com/article/price-of-bitcoin-06-09-2026/" rel="noopener noreferrer nofollow">Fortune: Bitcoin price, June 9, 2026</a><br><a href="https://www.theblock.co/post/386854/binance-founder-cz-reflects-prison-politics-potential-bitcoin-supercycle-pardon" rel="noopener noreferrer nofollow">The Block: CZ on Bitcoin supercycle and pardon</a><br><a href="https://www.ccn.com/news/crypto/cz-bitcoin-supercycle-cancelled-heres-why/" rel="noopener noreferrer nofollow">CCN: CZ retracts Bitcoin supercycle prediction</a></p>

CZ tells the market Bitcoin won't be 'dead' for long

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