After two consecutive days of price increases, the cryptocurrency market has experienced a downturn today. Almost all of the top 100 cryptocurrencies have reported significant declines within the last 24 hours. The total market capitalization for cryptocurrencies has reduced by 4%, bringing it down to $3.51 trillion, while the overall trading volume has settled at $132 billion.
In summary:
The market is predominantly lower today, with most of the top 100 coins seeing a decline;
Bitcoin (BTC) has slipped to approximately $107,500, whereas Ethereum (ETH) now stands at $2,749;
Ethereum’s recent recovery indicates more than mere price fluctuations;
Expectations of volatility are rising;
US spot ETH ETFs have seen inflows of $240.29 million, outpacing Bitcoin ETFs, which recorded $164.57 million;
Markets continue to analyze the implications of the recent US-China trade agreement and the latest US inflation data;
The recent dip might be temporary, but it occurs at a critical juncture for the market.
Crypto Winners & Losers
In sharp contrast to yesterday’s performance, all top 10 cryptocurrencies by market capitalization have seen price declines in the past 24 hours.
Bitcoin (BTC) has decreased by 1.7%, adjusting from around $109,500 to its current value of $107,563.
Ethereum (ETH) follows closely, down by 1.6%, now priced at $2,749.
Previously the largest gainer, Dogecoin (DOGE) faced the steepest drop today, plunging 6.2% to $0.1898.
Overall, the majority of the top 100 coins are down today, with only four exceptions. SPX6900 (SPX) noted the most substantial increase, rising by 8.1% to $1.68.
On the other hand, Jupiter (JUP) experienced the most significant decrease, topping double digits at a drop of 10.6% to $0.4538.
This week has been eventful for the markets, highlighted by the tentative trade accord between the US and China, the latest US inflation statistics, and a US Senate vote that advanced amendments to the stablecoin GENIUS Act.
Big headline, but the devil’s in the details. Let’s see the terms before calling it a game-changer. Markets might pump short-term, but long-term trust takes more than a tweet.
— GameCentric (@gamecentric_io) June 11, 2025
In the realm of stablecoins, Ant Group, the fintech giant backed by Jack Ma, has announced its intention to seek stablecoin licenses in vital Asian markets, including Hong Kong, Singapore, and Luxembourg.
Crypto Market Sensitivity to Price Fluctuations Rises
According to a recent report from Glassnode, Bitcoin is maintaining levels above the pivotal $100,000 mark, suggesting solid investor confidence.
Simultaneously, expectations of volatility have increased. Analysts point out that the heavy concentration of coin supply around current prices heightens market sensitivity to fluctuations.
Despite this, experienced investors are largely not facing losses. Most loss-taking seems confined to top buyers during all-time highs, indicating a “capitulation of only the most speculative of investors.” However, despite this analysis, Options At-the-Money Implied Volatility “across all major tenors remain historically low, suggesting options traders may be underestimating the potential for a shift in volatility regime,” according to Glassnode.
Ethereum, however, is capturing increasing levels of attention.
Dom Harz, co-founder of Layer-2 platform BOB, remarked that the recent price rise of ETH signifies a meaningful change in sentiment towards an asset that had previously lost its luster.
Harz goes on to explain that Ethereum’s resurgence indicates more than just a swing in price—it reveals a notable sentiment shift driven by technical advancements, market activity, and regulatory developments.
The launch of the Pectra upgrade has been bolstered by support from SEC Commissioner Paul Atkins for decentralized finance (DeFi), alongside the impressive performance of Circle’s record-breaking IPO, according to Harz.
“These are exciting times for DeFi and for Ethereum’s role in shaping the industry’s trajectory. Hopefully, we are moving beyond the memecoin distractions and refocusing on building scalable, decentralized systems, which are crucial for crypto’s future,” Harz added.
Levels & Events to Watch Next
As of this report, Bitcoin is valued at $107,563, marking its lowest point today and straying far from its all-time high of $111,814 reached on May 22. This price level reflects a return to the position seen earlier in the week before the latest upward movement.
The recent pullback occurred after reaching an intraday high of $110,269, indicating Bitcoin’s effort to reconnect with its all-time high. Key support is identified at $97,600, while resistance is noted at $115,400.
In the same timeframe, Ethereum touched an intraday high of $2,870, showcasing an daily increasing trend in its peak prices. Analysts suggest that ETH is on course for further upward movement.
Meanwhile, the overall sentiment in the crypto market has slightly cooled from the ‘Greed’ zone, as the Crypto Fear and Greed Index dipped from 65 to 61 today. This adjustment may hint at potential overheating in the market, leading toward a corrective phase, although movements toward a neutral position could alleviate those concerns.
“Fortunately, the surge of fear in market sentiment hasn’t led to significant changes in spending behaviors,” Glassnode noted. “When reviewing losses reflected on-chain, only -$200 million in losses were acknowledged, which is considerably less severe than past corrections. This indicates that investor responses to the downturn have remained relatively measured.”
Additionally, US spot Bitcoin exchange-traded funds (ETFs) recorded a net inflow of $164.57 million this Wednesday, with BlackRock contributing $131.01 million. The cumulative net inflow currently sits at $45.22 billion.
In contrast, US spot Ethereum ETFs have seen inflows for the 18th consecutive day, with today’s influx surpassing that of Bitcoin ETFs at $240.29 million. BlackRock remains the largest contributor with $163.64 million on June 11, bringing the total net inflow to $3.74 billion.
Seamus Rocca, Chief Executive Officer of Xapo Bank, remarked on the importance of corporate treasury allocations to Bitcoin, stating that organizations should focus on how much they can genuinely allocate for the long term, ideally a five to ten-year horizon, rather than chasing trends or building oversized positions.
Companies such as Strategy and Metaplanet exemplify “strongly conviction-based outliers, making waves with aggressive strategies aligned with their specific business goals.” Yet, Rocca suggests a more cautious, long-term perspective may be more suitable for most others in the crypto landscape—“one that is rooted in long-standing beliefs rather than ephemeral volatility. Patience and discipline are often underappreciated virtues in this sector,” he concluded.
Quick FAQ
Why did crypto move with stocks today?
The cryptocurrency and stock markets experienced simultaneous movements; however, the rise in crypto markets was notably steeper. The S&P 500 registered a decline of 0.27%, the Nasdaq-100 dipped by 0.37%, and the Dow Jones Industrial Average fell slightly by 0.0026%. Both markets are currently processing the implications of the recent US inflation report and the outcomes of the US-China trade discussions.
Is this dip sustainable?
This dip might be short-lived, potentially followed by a recovery, reflecting the prevailing bullish sentiment. However, the market finds itself at a pivotal stage, with further declines—albeit temporary—remaining a possibility.
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