Bitcoin Falls Below $62,000 as Major Zcash Security Flaw Comes to Light

Bitcoin is a bellwether for liquidity and risk appetite across global crypto markets and is sensitive to U.S. interest-rate expectations, technology stocks and spot ETF flows. Zcash uses its Orchard shielded pool to conceal transaction data. A failure in its zero-knowledge proofs could undermine confidence in the ZEC supply without being detected, putting both crypto-asset pricing and AI-assisted security audits to the test.

Bitcoin fell below $62,000 on June 5, 2026. Employment data fueled concerns about Federal Reserve rate hikes, while spot ETFs recorded $4.4 billion in net outflows over 13 consecutive days. Shielded Labs disclosed on June 4 that Taylor Hornby had used Anthropic Opus 4.8 to uncover a vulnerability in Orchard. The flaw had existed since May 2022 and could have allowed unlimited counterfeit ZEC to be created. It was patched on June 2.