According to MarsBit market data, Bitcoin faced concentrated institutional selling on June 3, quickly retreating to the $66,000 level and showing significant intraday pressure. These large-scale sell orders weighed on the market, forcing Bitcoin to oscillate near $66,000 and reversing a previous rebound driven by major capital inflows.
In stark contrast, privacy coin Zcash (ZEC) stood out by rallying against the broader market weakness, becoming one of the few major tokens to post gains on the day. The countertrend move in ZEC underscored a rotation into privacy assets, highlighting a degree of defensive capital preference amid overall market softness.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.