The cryptocurrency market faced another downturn today, with only 10 of the top 100 digital coins showing any gains in the last 24 hours. The overall market capitalization slumped by 2.1%, bringing it down to $3.45 trillion. Meanwhile, the total trading volume within the crypto space has increased to $118 billion, a rise from $76.7 billion observed yesterday.
TLDR:
The recent market outlook has turned negative once more;
Bitcoin’s price remains stable at $106,856, marking no change over the day;
Ethereum saw a slight drop of less than 2%, now priced at $2,584;
Tron has emerged as the best performer among the top ten, although its plans for a public launch in the U.S. have drawn criticism due to ties to Eric Trump;
Despite rising global tensions, Bitcoin shows resilience;
U.S. spot Bitcoin ETFs have attracted $408.59 million in new investments, while spot Ethereum ETFs added $21.39 million;
The current dip may be a traditional market pullback, with attention focused on the Israel-Iran conflict and the upcoming meeting of the U.S. Federal Reserve.
Crypto Winners & Losers
Analyzing the top 10 cryptocurrencies by market capitalization indicates a mixed performance, with four coins rising and another four falling, excluding the stablecoins.
Bitcoin (BTC) remains stable in this timeframe, showing a modest increase of 0.1%, pricing at $106,856.
Ethereum (ETH) has experienced a decline of 1.7%, trading at $2,584 currently.
Leading the gains is Tron (TRX), which has risen by 2.5% to a price of $0.277. In contrast, the largest declines have been observed in Solana (SOL) and Dogecoin (DOGE), both dropping by 2.4%, now valued at $153 and $0.1739, respectively.
Overall, only 10 coins in the top 100 managed to record gains today. Notably, WhiteBIT Coin (WBT) emerged as the top performer, increasing by 29.7% to $51.62, while the rest experienced gains of 4.4% or less.
SPX6900 (SPX) has seen the largest drop, falling by 13.1% and currently trading at $1.44.
Regarding Tron, the blockchain platform is planning for a public offering in the U.S. through a merger with Nasdaq-listed SRM Entertainment. Tron’s founder, Justin Sun, has faced scrutiny over his connection with the Trump family, raising concerns about potential conflicts of interest.
JUST IN: Tron $TRX to go public in the US.
For your info JS is the largest holder in $trump coin. Do you understand game… pic.twitter.com/gegiKNxlmL
— Nilesh Rohilla (@nilesh_rohilla) June 16, 2025
Eric Trump, son of former President Donald Trump, was reportedly expected to play a significant role in the company. He is also an advisor at Dominari Securities, the firm managing the transaction. However, Eric Trump has publicly denied any involvement in Tron’s planned Nasdaq listing.
.@tier10k I’m the biggest fan of Tron and love @justinsuntron – he is a great friend and an icon in the crypto space. That said the below is inaccurate – I don’t have public involvement. https://t.co/CDt0uudY1s
— Eric Trump (@EricTrump) June 16, 2025
In parallel developments, traditional financial institutions are showing increasing interest in stablecoins, with JPMorgan filing a trademark application for “JPMD.” This application outlines various potential blockchain and digital currency functions, signaling a move into the realm of crypto payments and asset settlement, and sparking speculation regarding a new, potentially retail-focused bank-backed stablecoin.
The world’s largest bank, JPMorgan, has filed a trademark for what appears to be a stablecoin called ‘JPMD’ pic.twitter.com/LQg09Ga2LG
— db (@tier10k) June 16, 2025
Why is Crypto Down Today: ‘Bitcoin Holds Firm’
Chloe Zheng, an analyst at HTX Research, suggested that the recent Israeli attacks on Iran impacted the crypto market, yet emphasized that “Bitcoin held firm.” Although Bitcoin experienced a slight drop initially, it rebounded quickly. The $100,000 price point serves as a significant psychological support, with Bitcoin now stabilized around $107,000.
Additionally, on-chain data reveals that over $1.1 billion in long positions have been liquidated in the cryptocurrency markets since June 13, with Bitcoin comprising over 40% of that total.
Zheng pointed out that the options market reflects strong bullish sentiment, with Bitcoin options’ open interest reaching a record $42.5 billion. Calls for June and July are priced at $110,000 and $120,000, respectively, with total call premiums at $70 million, significantly surpassing puts at $15 million, indicating a put/call ratio of 0.21—demonstrating considerable optimism.
BTC做抵押，不止是个故事： @sparkdotfi +@maplefinance 机构美元流动性的超级接口
BTC used as collateral is no longer just a narrative — with @sparkdotfi and @maplefinance , it’s turning into a real institutional liquidity engine. We are witnessing the transformation of… https://t.co/rrVLgNZFBS pic.twitter.com/446ExQprIX
— 数据炼金师 Chloe Zheng (@ChloeTalk1) June 13, 2025
With these developments, markets are keenly observing the upcoming U.S. Federal Reserve policy meeting. Zheng notes that most expectations suggest that Fed Chair Jerome Powell will maintain a cautious stance, refraining from any abrupt shifts and focusing instead on data-driven analysis.
Furthermore, the recent uptick in oil prices amid tensions in the Middle East may exacerbate inflation fears. Nonetheless, inflation indicators from CPI and PPI data in May show that core inflation remains relatively subdued, indicating a disconnect between sentiment and actual data that contributes to ongoing policy uncertainty.
Levels & Events to Watch Next
Currently, Bitcoin is trading at $106,856, having retreated from an intraday high of $108,785, which it struggled to maintain. Key resistance levels are identified at $108,951 and $110,406. A breakout above these levels could signal a move toward new all-time highs.
Important support levels to monitor include $106,196, $104,633, and $103,132.
Bitcoin Price Chart. Source: TradingView
In the meantime, Ethereum sits at $2,584, down from an intraday high of $2,672 and up from a low of $2,537. The cryptocurrency is concentrating efforts to reclaim the $2,610 level, followed by $2,670.
Market sentiment in the cryptocurrency sector has improved, reverting to levels seen at the end of the previous week. The Fear and Greed Index has risen from 50 to 54 today, inching toward positive territory.
According to Chloe Zheng, the Fear & Greed Index suggests that “the market has yet to fully transition into a risk-off stance.”
Source: CoinMarketCap
On Monday, U.S. Bitcoin spot exchange-traded funds (ETFs) experienced another day of net inflows, accumulating $408.59 million, with BlackRock accounting for $266.6 million of that total.
After concluding a streak of 19 days of inflows, U.S. Ethereum spot ETFs recorded net inflows of $21.39 million on Monday, with Grayscale alone capturing $16.08 million and Fidelity adding $5.31 million.
According to Glassnode, the U.S. Spot ETH ETFs had their third-largest weekly net inflow last week.
Last week saw 195.32K $ETH flow into US Spot #ETH ETFs – the third-largest weekly net inflow on record. pic.twitter.com/MtTCPqWH8G
— glassnode (@glassnode) June 16, 2025
Market observers are likely to keep their attention on the U.S. Federal Reserve’s policy meeting scheduled for Wednesday, alongside the evolving situation in the Middle East, as both could significantly influence the trajectory of the cryptocurrency market.
Quick FAQ
Why did crypto move against stocks today?
While the cryptocurrency market dipped over the last 24 hours, the stock market showed gains by the close on Monday. The S&P 500 rose by 0.94%, the Nasdaq-100 increased by 1.42%, and the Dow Jones Industrial Average grew by 0.75%. The stock market has rebounded from prior losses stemming from the situation in the Middle East while maintaining a close watch on developments.
Is this dip sustainable?
The current downturn in the cryptocurrency market is likely a standard, short-term pullback. However, significant geopolitical and macroeconomic events are unfolding, likely to impact the crypto space. The direction of this influence remains uncertain.
The post Why Is Crypto Down Today? – June 17, 2025 appeared first on Finance Newso.
