The cryptocurrency market, despite a decline in overall capitalization, has witnessed positive price movements for a majority of the top 100 coins over the last 24 hours. The total market capitalization for cryptocurrencies now stands at $3.44 trillion, reflecting a 1.9% decrease, while trading volumes have settled at $92.3 billion.
To summarize:
- Most cryptocurrencies are reporting gains today, although some remain unchanged;
- The market appears to be gearing up for another potential rally;
- Various catalysts could initiate the next phase of the bull market;
- General market sentiment has shown a significant improvement;
- U.S. spot Bitcoin ETFs have broken a previous outflow trend;
- The ongoing rally appears to retain its sustainability.
Crypto Winners & Losers
As of the latest figures, four out of the top 10 cryptocurrencies by market capitalization have posted gains, while four others have declined (excluding two stablecoins). Bitcoin (BTC) is among the gainers, remaining stable at $105,368 over the past 24 hours.
Meanwhile, Ethereum (ETH) has increased by 0.5% in value, now listed at $2,628. XRP leads the top coins with a notable gain of 1.8%, rising to $2.23.
On the downside, Solana (SOL) recorded the most significant loss, decreasing by 2.2% to $156. Most other declining coins have shown little change, with about 30 of the top 100 coins experiencing minor reductions, generally around 1% or less. The least-performing coin is Fartcoin (FARTCOIN), which fell by 7.4% to $1.05.
Conversely, SPX6900 (SPX) emerged as the top gainer in this category.
As the market traverses a consolidating phase, several technical indicators suggest a potential breakout could be imminent. Currently, Bitcoin’s price prediction remains neutral, with prices fluctuating within a narrow band.
#Bitcoin $105K Triangle Squeeze: 6% Rally on Deck?
Symmetrical triangle near $105K
RSI divergence + bullish MACD crossover
50 EMA = strong support
Declining volume = pre-breakout signal
Target: $109K on breakout above $106,767
Smart money’s watching. Are you? pic.twitter.com/gWJt8cR7S9
— Arslan Ali (@forex_arslan) June 4, 2025
In a recent Monthly Investment Outlook by Sygnum, a digital asset banking group, it was highlighted that ongoing U.S. tariff uncertainties continue to pose challenges for the global economy. The increasing fiscal pressures have notably affected the U.S. Treasury market and contributed to a decline in the dollar’s strength.
The report emphasizes that a weaker dollar tends to bolster global liquidity, while the pressing debt situation in the U.S. necessitates liquidity infusions, creating a favorable environment for both risk assets and cryptocurrencies.
Why is Crypto Up Today: Potential Catalysts for the Next Leg of the Bull Cycle
According to analysts at Sygnum, the ongoing turmoil associated with tariffs has kept the markets on edge. However, expected liquidity injections may help stabilize conditions, as failure to do so could lead to significant system failures. This combination, coupled with a weaker dollar that aids global liquidity, sets a positive stage for risk assets, including cryptocurrencies.
Bitcoin continues to exhibit a strong demand trend, propelled by growing institutional adoption and its evolving role as a safe haven asset.
“The fast-diminishing liquid supply of Bitcoin is paving the way for potential demand shocks and heightened volatility,” the analysts pointed out.
The decreasing balances of Bitcoin held on exchanges are typically interpreted as a bullish indicator, suggesting that investors are pulling their funds to hold for the long term.
Furthermore, Bitcoin ETFs and acquisition channels are increasingly attracting both equity and fixed-income investors, while government considerations for Bitcoin reserves could serve as catalysts for the next significant market rally.
The recent #Bitcoin ATH breakout has led to a notable uptick in profits locked in, with the average coin capturing a +16% profit.
Fewer than 8% of trading days have been more profitable for investors, suggesting a meaningful transition into profit-taking activity is underway. pic.twitter.com/3Fz1A6Ccis
— glassnode (@glassnode) June 3, 2025
Several countries are exploring the option of establishing central bank Bitcoin reserves. Although no official purchases have commenced, these prospective acquisitions could significantly influence prices through increased demand and a notable signaling effect.
On the Ethereum front, recent upgrades have reportedly stimulated significant revenue growth. Additionally, traditional financial institutions are progressively developing tokenization platforms on Ethereum or its Layer 2 scaling solutions, even launching their own Ethereum-based L2s.
The report suggests that this shift from “Ethereum is losing its competitive edge” towards viewing it as the leading platform choice for major financial institutions is underscored by its enhanced security and stability, particularly highlighted by a recent vulnerability observed in Solana.
Levels & Events to Watch Next
Bitcoin currently trades at $105,368, having reached an intraday peak of $106,807 but failing to maintain that level. Relative to its all-time high of $111,814, the cryptocurrency is down 5.6%. It has decreased by 3% over the past week but shows an increase of 11.4% for the month.
The Sygnum analysts have noted a general decline in Bitcoin’s volatility over time, which reflects the maturation of the market and an increase in institutional engagement. For Bitcoin as an investment vehicle, while downside volatility is a concern, recent history suggests that upside volatility has outpaced downside shocks consistently over the last three years.
Moreover, the Fear and Greed Index rests at 57, indicating a neutral market stance with a cautious outlook, as investors await additional signals to determine the next move.
Market sentiment, however, has improved significantly due to a more favorable macroeconomic environment, strong interest in Bitcoin, and an anticipated rebound in Ethereum. The correlation with macro factors has weakened to some extent, while on-chain activity has surged, partly driven by Ethereum’s latest upgrade.
On June 3, U.S. spot Bitcoin ETFs registered a notable inflow of $378.04 million, breaking a brief trend of outflows. Leads in inflows were observed from Ark & 21 Shares and Fidelity, contributing $139.93 million and $136.83 million, respectively. Similarly, U.S. Ethereum spot ETFs continued their streak of inflows with an additional $109.43 million on the same day, primarily driven by BlackRock’s contribution of $77.06 million.
Legislation concerning stablecoins and the structure of the crypto market is on the horizon in the U.S. Some optimistic projections suggest that bills may pass before autumn. However, delays in stablecoin regulations are being influenced by controversies surrounding the Trump family’s conflicts of interest.
Quick FAQ
Why did crypto move with stocks today?
Both the crypto and stock markets have reported gains for two consecutive days. The S&P 500 has increased by 0.58%, with the Nasdaq-100 up 0.79% and the Dow Jones Industrial Average rising by 0.51%. Investors are currently awaiting further labor market data that could impact stock valuations. While concerns about Donald Trump’s trade policies and potential economic slowdowns have eased, they remain potential sources of volatility in future months.
Is this rally sustainable?
Many analysts believe that the market is not preparing for a bear phase just yet. It is widely agreed that while declines are a normal aspect of market behavior, the current setup indicates that the crypto market is gearing up for the next rally. However, this will depend on the realization of one or more of the aforementioned catalysts.
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