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- Sui Network resumed operations after a nearly six-hour blockchain outage.
- The SUI token dropped over 6% before recovering slightly.
- Bitcoin traders are watching a $9 billion options expiry that could increase volatility.
The crypto market faced renewed turbulence this week after the Sui blockchain suffered another major outage and Bitcoin traders braced for billions in options expiry pressure. The incidents added to growing concerns around network reliability and short-term market sentiment across digital assets.
Sui Mainnet Recovers After Nearly Six Hours Offline
Layer-1 blockchain Sui resumed operations on Thursday after a network halt that lasted nearly six hours. The team behind the blockchain said the disruption was caused by a bug tied to a recent software update affecting gas charging logic.
According to Sui, the issue emerged following the rollout of version 1.72. During the outage, transactions stalled across the network while validators worked to deploy a fix. Although activity has resumed, some validators were still reporting degraded performance afterward.
The incident marks Sui’s second major outage in 2026. Earlier this year, the network experienced another shutdown that lasted more than six hours. A separate validator crash loop in late 2024 also temporarily froze transaction processing.
Sui launched in 2023 with a focus on scalability and institutional-grade transaction speeds. Despite the repeated disruptions, the ecosystem has continued to expand. Data from DeFiLlama shows the network now supports more than 130 protocols and holds over $540 million in total value locked.
SUI Token Slides During Network Disruption
The outage triggered immediate volatility for the SUI token. Prices dropped roughly 6.6% during the disruption before partially recovering later in the day.
The decline interrupted what had been a strong month for the token. Earlier in May, SUI rallied nearly 50% following announcements tied to stablecoin transfer upgrades, privacy-focused transaction features, and institutional staking activity.
Mysten Labs co-founder Adeniyi Abiodun recently reiterated plans to introduce zero-fee stablecoin transfers and enhanced privacy tools during Consensus 2026, developments that many investors viewed as bullish for the network’s long-term growth.
Bitcoin Traders Brace for $9 Billion Options Expiry
At the same time, Bitcoin markets are facing mounting pressure ahead of a massive monthly options expiry worth roughly $9 billion.
BTC briefly retested the $72,500 level for the first time in six weeks, triggering more than $340 million in liquidations tied to leveraged bullish positions. Although Bitcoin later rebounded toward $73,500, options data suggests bearish traders currently hold the advantage.
If Bitcoin remains below $74,000 before expiry, a large portion of bullish call options could expire worthless while bearish put positions stay profitable. Market sentiment has also weakened following over $1 billion in spot Bitcoin ETF outflows in recent days.
Traders are increasingly cautious about Bitcoin’s near-term direction, with derivatives markets showing limited confidence in a return to $80,000 by late June.
The combination of technical outages and growing derivatives pressure highlights the fragile sentiment currently shaping crypto markets.
Also Read: Sui Network Suddenly Stalls: Mainnet Validators Trigger Major Blockchain Outage
While Sui’s recovery helped stabilize confidence around the network, repeated downtime incidents may raise fresh questions about blockchain reliability as adoption grows. Meanwhile, Bitcoin traders remain focused on macro uncertainty, ETF flows, and options positioning that could influence volatility in the weeks ahead.
For now, both infrastructure stability and market sentiment remain key themes driving the digital asset sector.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
