The cryptocurrency market has experienced a slight decline once again. Despite this, approximately one-third of the leading 100 digital assets reported price increases within the last day. The overall market capitalization has dropped by 1.9% to reach $3.41 trillion, and total trading volume fell to $71.9 billion in recent days.
**TLDR:**
After a short uptick, most cryptocurrencies have resumed their downward trend;
The market continues to navigate the typical post-all-time high (ATH) pullback;
Bitcoin (BTC) remains largely stable, hovering around the $105,000 mark;
There remains potential for BTC to surge to $136,000 by year-end;
U.S. spot BTC ETFs have halted a brief inflow period, whereas spot ETH ETFs have seen a fifteen-day inflow streak;
The recent downturn is anticipated, with the possibility of further declines.
Crypto Winners & Losers
An examination of the top ten cryptocurrencies by market capitalization reveals a mix: four assets saw gains, while four suffered losses (excluding two stablecoins) with minimal fluctuations over the last 24 hours.
As of this report, Bitcoin (BTC) has edged up 0.1%, trading at $105,660, effectively holding steady.
Meanwhile, Ethereum (ETH) saw a decline of 0.9%, priced at $2,492, which reflects a slight retreat from its intraday high of $2,537.
XRP has emerged as the leading gainer in this category, rising by 0.9% to $2.24, while Dogecoin (DOGE) faced the steepest decline at 1.3%, now priced at $0.1818.
In a notable development, XRP has been added to the Nasdaq Crypto US Settlement Price Index, a move anticipated to enhance institutional interest in the cryptocurrency.
XRP has joined the Nasdaq Crypto US Settlement Price Index, a move that could further open the door to institutional exposure.#XRP #Ripple https://t.co/XRQqeNdfjL
— Finance Newso.com (@Finance Newso) June 9, 2025
About one-third of the leading 100 cryptocurrencies have recorded price gains during this same period. The standout performer is Internet Computer (ICP), which surged by 7.3% to reach $5.72.
In contrast, Tokenize Xchange (TKX) registered the most significant drop, decreasing by 2.6% to $29.92.
According to Glassnode, long-term Bitcoin holders are beginning to sell, raising concerns about an impending short-term correction due to the absence of clear upside catalysts. Investors are advised to watch this trend closely.
$BTC long-term holders are slowly selling, and with no strong upside catalyst, the risk of a short-term correction grows. On-chain models show key support zones: the 0.95 SSD quantile at ~$103.7k and 0.85 at $95.6k – levels to watch if profit-taking continues. pic.twitter.com/TZx5SLP6gD
— glassnode (@glassnode) June 6, 2025
A BTC Rally to $136,000 Still Possible
John Glover, Chief Investment Officer of the crypto lending platform Ledn and a former managing director at Barclays, believes the recent pullback in Bitcoin’s price was anticipated. He noted that on Friday, BTC bounced off its overnight lows, but suggested that the corrective movement is not yet complete.
“I expect that wave (ii) pullback will complete in the $88,000 to $93,000 range before we see the next upward leg. This corrective phase should finish in the mid-to-late summer, followed by a strong wave (iii) upward. If you’re considering adding to your holdings, the wave (ii) target presents a good opportunity,” Glover explained.
He further added that wave (ii) could totally retrace wave (i), indicating that revisiting the $74,500 low of Wave IV is a possibility. However, he maintains a bullish outlook for BTC, forecasting a rise to between $133,000 and $136,000 by the end of the year or early next year.
Source: Ledn
In another development, TradingView reports that Bitcoin’s availability on centralized exchanges has dropped to a historic low of 2.3 million, attributed to institutional purchases and an increase in spot ETFs that limit BTC supply.
Dom Harz, co-founder of Layer-2 protocol BOB, highlighted that reserve levels have fallen to their lowest since 2018, suggesting a growing confidence among investors regarding Bitcoin’s long-term viability as a strategic asset.
“The real question is, what comes next? Will substantial amounts of capital remain idle in treasuries and wallets for an extended period? We believe that’s unlikely. With such a significant investment, holders—both institutional and individual—will likely seek to utilize their Bitcoin,” Harz stated.
“Fortunately, the demand for sustainable BTC yield is aligning with technological advancements that will genuinely enable secure and scalable Bitcoin DeFi. The new financial landscape is no longer a theory; it is already beginning to form.”
Why Is Crypto Down Today: Levels & Events to Watch Next
Currently, Bitcoin trades at $105,660, successfully maintaining the $105,000 level following several unsuccessful attempts last week. This marks a decline from its intraday high of $106,352. Compared to its all-time high of $111,814, the cryptocurrency is down by 5.5%. Over the past week, it has appreciated by 0.4% and 1.8% over the month.
Key resistance levels to monitor are set at $114,800, while a vital support level is identified at $83,200, according to Glassnode.
With $BTC recently changing hands near ATHs, the Short-Term Holder Cost Basis offers key insight. It sits at $97.1k, with key thresholds (based off standard deviation bands) at $114.8k (+1σ) and $83.2k (–1σ). A breakout or breakdown from this range could define the next major… pic.twitter.com/nayH2TT6VX
— glassnode (@glassnode) June 7, 2025
The overall sentiment in the crypto market remains neutral today, registering at 55, which indicates a cautious mood among investors. This figure could potentially fall into the fear zone as conditions evolve.
On June 6, U.S. BTC spot ETFs reported a net outflow of $47.82 million, with BlackRock alone showing a significant withdrawal of $130.49 million, marking the end of a brief two-day inflow trend.
Conversely, U.S. ETH spot ETFs have maintained their inflow streak for fifteen consecutive days, adding another $25.22 million, with BlackRock contributing $15.86 million to this total.
Despite the recent downturn in the cryptocurrency market, significant interest from major traditional finance entities persists. The stablecoin sector, in particular, has attracted considerable attention.
Deutsche Bank is among those investigating stablecoins and tokenized deposits to modernize payment systems. The institution is assessing options that range from issuing its own stablecoin to engaging in a broader industry initiative, as expressed by Sabih Behzad, the head of digital assets and currencies transformation.
Deutsche Bank is examining stablecoins and tokenized deposits, considering options such as issuing its own token or joining an industrywide initiative. https://t.co/QkJe9NRAX4 pic.twitter.com/R9cb2TVbuF
— ICO Drops (@ICODrops) June 7, 2025
Quick FAQ
**Why did crypto move against stocks today?**
While the cryptocurrency market observed a minor overall decrease over the previous 24 hours, the stock market experienced gains on Friday. Upcoming data for Monday is still pending. On that day, the S&P 500 rose by 1.03%, the Nasdaq-100 increased by 0.99%, and the Dow Jones Industrial Average gained 1.05%. These changes followed the monthly labor market report, which indicated resilience amid concerns regarding the impact of tariffs initiated by U.S. President Donald Trump.
**Is this dip sustainable?**
Current trends appear to indicate that the downturn is a standard part of the typical pullback experienced following Bitcoin’s all-time high. The cryptocurrency is attempting to maintain elevated levels, though analysts caution that the broader market stands at a critical juncture—positive news could fuel a rally, while negative developments may lead to further declines.
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