Todd Warns Zcash Privacy Tech Risks Bitcoin as BTC Holds Near $64K

Bitcoin trades around $64,269 after plunging to a four-month low below $62,000, with $600 million in long liquidations and open interest down 25%. Bearish commentary peaked June 4 as Alex Krüger labeled crypto a 'failed asset class' and Peter Schiff mocked early Bitcoin holders, while Anthony Pompliano urged investors to dismiss recurring 'Bitcoin is dead' calls. The narrative shifted from early-June regulatory scrutiny of Hyperliquid and $600 million DeFi exploits to Bitcoin’s 600,000x hash-rate dominance versus supercomputers, potential BTCFi rotation into tokens like STX, and a June 5 debate over adding Zcash-style shielded privacy to Bitcoin.