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Why Crypto Bled and Bounced

A 32 BTC sale, a Zcash scare, a hot jobs report, and a flush that wiped billions. Then Saylor bought the dip.
Why Crypto Bled and Bounced
William M. Peaster William M. Peaster
Jun 8, 2026 • 4 min read
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Saylor sold! Saylor bought!

These were the bookends of this past week, which was one of the wilder stretches crypto's had all year.

Today, yes, fortunately the charts are green again. Yet only after a risk-off flush vaporized hundreds of billions across stocks and crypto. Longs got wrecked first, and now shorts are getting lit up. So what gives?

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Bitcoin Bitcoin Zcash Zcash Arthur Hayes Arthur Hayes
William M. Peaster

Written by William M. Peaster

1004 Articles • View all      

William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.

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