Crypto News Today (June 8): BTC Back Above $63K as the War Between Justin Sun War and Trump Continues

In crypto news today (June 8), the market has rallied slightly over the weekend, with Bitcoin trading back above $63,000 on this Monday after a +1.6% overnight pump. This brief rally has also seen liquidations slow, with the 24-hour figure at just $630M, down from $1-2Bn last week.

Ethereum has bounced even harder, surging +4% in the past 24 hours, trading at $1,670. While encouraging, this still leaves it needing a near-20% pump to reclaim $2,000.

ETF flows continue to lean bearish, with last Friday closing the week with a -$325M, leaving the various Bitcoin ETF products, although Ethereum fared slightly better, with just -$6M sold via ETFs.

The Fear & Greed Index is back at near-all-time lows, sitting at 8/100, marking ‘Extreme Fear’ and one of its lowest levels since early May 2026, highlighting how fearful market participants are currently.

Crypto News Today: HTX, the Justin Sun-Backed Crypto Exchange, Halts Trading of Trump Family Stablecoin

A major crypto exchange, HTX, which is backed by Tron founder and entrepreneur Justin Sun, has delisted USD1, the stablecoin associated with the Trump family. The decision came after the exchange claimed that World Liberty Financial had wrongfully frozen its on-chain addresses.

On Saturday, HTX announced on X that the World Liberty Financial (WLFI) project team had “unilaterally” frozen specific HTX on-chain addresses due to sanctions compliance reviews. As a result, the circulation of certain WLFI assets associated with those addresses has been restricted. HTX emphasized that the delisting of USD1 was done to protect users’ assets.

Announcement on the Delisting of USD1 (USD1) and Conversion of User Assets to USDT on HTX

As USD1 is an asset issued by the WLFI project team, and in order to mitigate potential risks, safeguard user assets, and maintain a fair trading environment, HTX will delist USD1 at 03:00… https://t.co/pkYx4bT9rl

— HTX (@HTX_Global) June 6, 2026

Liquidations Flip Short – Is the Market Showing Signs of a Recovery?

In other crypto news, after last week, which saw 24-hour periods during which over $1.5Bn in long trades were liquidated, the script has seemingly flipped. Not only has the daily volume of liquidations dropped to just $629M, but of that figure, only $160M is from longs, while over $468M is from shorts.

This is notable as it potentially shows that it is now bears being punished, rather than bulls. If this trend continues deeper into the week, it could signal part of a wider recovery across crypto as Bitcoin attempts to reclaim $65,000 while Ethereum tries to get back above $2,000.

(SOURCE: CoinGlass)