NewsVideoPricesResearchEventsData & IndicesSponsoredliveUpdated 9 minutes agoBitcoin in danger of dropping to $60,000, with Zcash bulls turning their backs on ZECAI bets are recording rapid profit-taking as Broadcom as outlook for AI-chip sales fell short of high expectations, driving down crypto markets.Arthur Hayes dumps his entire Zcash bag, declares the 'Holy Trinity is dead'Arthur Hayes, the Maelstrom founder and former BitMEX CEO, said on X that he sold his entire Zcash position after reading about an exploit affecting Zcash's Orchard shielded pool. Hayes had been one of the more visible institutional bulls on the privacy token through its 2026 rally and recent inclusion in his "Holy Trinity" framework alongside bitcoin and ether.Hayes wrote that while he believes the risk of any improper minting is extremely low, the issue cannot be cryptographically proven impossible, and that the privacy thesis he was holding ZEC against "demands perfection not improbability." The 30% drop in the token over the past 24 hours, he said, forced him to reassess and exit the entire position rather than ride it out.Zcash drops 37% in one of the token's worse one-day slumpsShielded Labs disclosed a critical bug in its Zcash's Orchard privacy pool that could have allowed unlimited, undetectable counterfeit tokens.The vulnerability, present since Orchard’s activation in May 2022, was discovered on May 29 by security engineer Taylor Hornby using Anthropic’s Opus 4.8 AI model and was patched in an emergency fix by June 1.Shielded Labs says there is no cryptographic way to know whether the flaw was exploited before the fix, and is proposing a network upgrade with new accounting measures and expanded security efforts to restore confidence in ZEC’s supply integrity.Bitcoin could drop to $60,000 next as BTC dives below key levels Bitcoin is trading just over $62,000 and roughly $2,700 above the $60,000 round number that's become the next obvious test on the way down. The price has now shed close to 16% from last week's $74,000-plus levels, with the bulk of the damage coming in the past three sessions as the AI trade rolled over globally. A break of $60,000 would put bitcoin back into territory it last visited during the February drawdown, with the next technical support sitting closer to $55,000.The supports that held bitcoin through earlier 2026 drawdowns are no longer in place. U.S. spot bitcoin ETFs have logged 15 straight sessions of net outflows totaling more than $4.7 billion. Strategy disclosed its first bitcoin sale since 2022 earlier this week and is no longer functioning as the marginal corporate buyer that absorbed selling through 2024 and 2025.12345678910The Pre-IPO Perpetuals Category Takes ShapeThe Pre-IPO Perpetuals Category Takes ShapeBinance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.May 29, 2026Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.Why it matters:Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.View Full Report