Gate Research: BTC Rebounds to $63K, PiggyBank Exposes Strategy Risks

On June 1, BTC remained in a weak consolidation range between $73,000 and $74,000, while ETH pulled back and traded around the $2,000 level. Market sentiment remained firmly in the Fear zone. PORTAL, H, and GAT led gains across the cross-chain GameFi, digital identity, and Web3 communications sectors, respectively. Options market activity suggests that some traders have begun positioning for volatility around key June macro events, including Nonfarm Payrolls, CPI, and the FOMC meeting, through BTC $77,000 straddles and ETH $1,900 put options. On the industry front, the court-ordered freeze affecting Zama’s cUSDC reignited discussions around privacy-focused DeFi, tainted fund contamination, and asset segregation mechanisms. Meanwhile, although the number of on-chain attacks in Q1 2026 more than doubled year over year, total losses declined significantly, highlighting a shift in security risks from large centralized entities toward long-tail protocols. At the same time, the Polymarket insider trading case and the rollout of perpetual futures testing underscored the prediction market sector’s accelerating evolution toward greater derivatives integration and regulatory maturity.