In a notable reversal over the last day, the cryptocurrency market has experienced a surge, largely driven by institutional investments and diminishing worries about U.S. regulations. Over the past 24 hours, 98 out of the top 100 cryptocurrencies have seen price gains, contributing to an overall market capitalization increase of 1.8%, now standing at $3.54 trillion. The total trading volume for cryptocurrencies has returned to typical levels, reaching $126 billion.
Key Highlights:
- A significant increase in the market, with 98 of the top 100 cryptocurrencies showcasing gains;
- Bitcoin (BTC) is attempting to reach the $111,814 mark;
- Ethereum (ETH) leads the top 10 with substantial gains, setting multiple new records;
- Markets are focusing on ongoing U.S.–China trade negotiations entering their second day;
- U.S. spot BTC ETFs are witnessing significant inflows, while spot ETH ETFs have seen inflows for sixteen consecutive days;
- The current rally appears stable, although the market remains sensitive to macroeconomic fluctuations.
Crypto Market Watch
All top ten cryptocurrencies by market capitalization have gained value in the last 24 hours. Bitcoin (BTC) has climbed by 3.7%, surpassing key resistance levels of $106,000, $107,000, and $108,000, and is currently valued at $109,357.
Ethereum (ETH) stands out as the best performer today, soaring 7.2% to a price of $2,665. The total ETH staked on the Beacon Chain reached a record high of 34.65 million ETH on Sunday, and the coin recently touched a 12-day high of $2,700 during intraday trading.
ICYMI: Over $20 billion worth of ETH is staked via @LidoFinance. pic.twitter.com/ZKKq8FKJYZ
— Token Terminal (@tokenterminal) June 9, 2025
On the other end of the scale, Tron (TRX) recorded the smallest gain among the top assets, rising just 0.5% to $0.2861. Notably, only two of the top 100 cryptocurrencies registered losses, with LEO Token (LEO) and XDC Network (XDC) losing 2.2% and 0.9% respectively, now priced at $9.09 and $0.06071.
Conversely, Fartcoin (FARTCOIN) emerged as the top gainer, surging 18.2% to reach $1.24, while eight additional cryptocurrencies saw their prices rise by double digits.
Market Sentiment and Analysis
Market participants are closely monitoring ongoing U.S.–China trade negotiations, which resumed today in London, as these discussions could have significant implications for both the cryptocurrency and stock markets.
Sergei Gorev, Head of Risk at YouHodler, suggests that Bitcoin’s price is currently in a state of flux. He notes a trend among global traders shifting away from the U.S. dollar toward riskier assets like cryptocurrencies, while Bitcoin’s chart displays erratic price behavior that could indicate a potential rally.
“The development of a ‘Head and Shoulders’ pattern raises the possibility of a pullback to around $92,000,” Gorev highlighted.
James Toledano, COO at Unity Wallet, emphasizes the positive momentum in the crypto space, crediting sustained ETF inflows and regulatory progress as key drivers. He points out that Bitcoin’s rebound from the $100,000 mark earlier this month showcases its resilience, bolstered by institutional interest in spot ETFs and a reduction in regulatory concerns.
Toledano also mentions that the market’s stability in the face of significant macroeconomic events, such as the U.S. losing its AAA credit rating, reflects growing confidence among investors. Attention is also turning toward potential Federal Reserve rate cuts that could further spur Bitcoin’s appeal.
“These factors have renewed bullish sentiment following Friday’s dip, with signs of continued institutional interest enhancing momentum,” he added.
Nevertheless, he warns that Bitcoin may encounter strong resistance in the $112,000 to $125,000 range, where profit-taking could lead to temporary pullbacks before making new highs.
Looking Ahead: Key Levels and Events
At present, Bitcoin is priced at $109,357, nearing its historical high, which was achieved on May 22 at $111,814. Notably, the cryptocurrency recently reached an intraday high of $110,282. Should it surpass $111,848, the next resistance levels to watch include $115,103 and $118,358.
The momentum in Bitcoin’s price is largely driven by increased investor interest, with over 80 publicly traded companies now holding BTC, alongside growing governmental holdings, with the U.S. government reportedly possessing nearly 200,000 BTC.
The day’s standout performer, Ethereum, also touched an intraday high of $2,719 and has since seen a slight reduction in value, suggesting there is room for further growth if it can maintain above the $2,720 resistance level.
Encouragingly, the crypto market sentiment has shifted from neutral to optimistic, with the Crypto Fear and Greed Index rising from 55 to 64, indicating a bullish market stance driven by active investor engagement.
As for the performance of U.S. Bitcoin spot ETFs, they recorded a net inflow of $396.27 million on June 9, with Fidelity leading the charge at $172.99 million. BlackRock also contributed significantly with inflows of $120.93 million.
Additionally, BlackRock’s IBIT Bitcoin ETF became the fastest to reach $70 billion in assets under management, achieving this milestone in just 341 days. Overall, U.S. spot Bitcoin ETFs have surpassed $120 billion in assets within two years of their inception.
In tandem, U.S. ETH spot ETFs have seen sixteen consecutive days of inflows, totaling another $52.71 million, once again led by BlackRock on June 9 with $35.19 million. Ethereum investment products have amassed $1.5 billion in just seven weeks, representing 10.5% of total assets under management.
Meanwhile, several notable developments have surfaced. The U.S. Securities and Exchange Commission (SEC) is considering a blockchain relief framework designed to streamline product offerings by major players in the sector.
In South Korea, the Democratic Party has proposed legislation to legalize stablecoin issuance by local companies, spurring a surge in related stocks despite pushback from the Bank of Korea over risks associated with non-bank entities issuing stablecoins.
South Korea edges closer to legalizing tokenized securities as President Lee takes office. Bills to enable STOs for real estate, art & more could soon pass amid bipartisan support. #SouthKorea #Crypto #Tokenization https://t.co/yYjlzqiRyh
— Finance Newso.com (@Finance Newso) June 6, 2025
Moreover, Japan’s SBI Holdings, along with its banking arm SBI Shinsei, has invested $50 million into Circle, the issuer of USDC stablecoin, following the latter’s public listing on the New York Stock Exchange earlier this month.
Key Questions
Why did crypto move with stocks today?
The cryptocurrency market has witnessed significant growth, paralleling a slight uptick in stock markets, which have shown an inclination towards growth as investors await developments from U.S.-China trade talks.
Is this rally sustainable?
Today’s market surge has bolstered bullish sentiment, reaffirming analysts’ views that declines are usual after reaching all-time highs, potentially setting the stage for another rally. However, traders remain wary of how ongoing US–China trade negotiations will influence market direction.
The post Why Is Crypto Up Today? – June 10, 2025 appeared first on Finance Newso.
