The cryptocurrency market has experienced a substantial uptick today, as nearly all of the top 100 digital currencies recorded gains within a 24-hour span. Despite this positive trend, the overall cryptocurrency market capitalization saw a slight decline of 1%, settling at $3.58 trillion. Meanwhile, the total trading volume across the crypto market surged to $138 billion, marking the highest level observed in recent days.
Key highlights:
- The market exhibits a renewed bullish sentiment;
- Bitcoin (BTC) approaches a potential new all-time high;
- Ethereum (ETH) stands out as one of the day’s top performers, with further growth anticipated;
- The crypto space and traditional finance (TradFi) are closely monitoring developments related to the US-China trade agreement and forthcoming inflation reports from the US;
- US spot Bitcoin ETFs have recorded inflows totaling $431 million, while spot Ethereum ETFs continue a streak of 17 days of inflows;
- Sygnum cautions that the concentration of holdings in some strategies may soon become problematic;
- While the ongoing rally appears sustainable, investors remain vigilant concerning current macroeconomic and geopolitical tensions.
Crypto Winners & Losers
As seen yesterday, every coin within the top 10 by market capitalization has reported price increases over the last 24 hours.
Bitcoin (BTC), the leading cryptocurrency, recorded a modest rise of just 0.3%, maintaining a trading value of $109,531. This represents the smallest increase among its peers.
Ethereum (ETH) performed notably better, climbing 4.6% to reach a price of $2,798.
Dogecoin (DOGE) emerged as the top gainer in the category, with a rise of 5.4%, currently trading at $0.2013.
Among the top 100 cryptocurrencies, only seven saw declines, with Bittensor (TAO) experiencing the largest drop at 3.1%, now valued at $421.
Uniswap (UNI) recorded the highest gains today, skyrocketing 18.1% to $8.41, while six other coins also achieved double-digit increases.
Market participants in both crypto and TradFi have been closely watching discussions between the US and China taking place in London over the past two days, focusing on tariffs and restrictions on essential goods such as rare earth minerals and chips. On Tuesday, the two sides reportedly reached an agreement on a general framework regarding these issues, though specifics remain vague.
Additionally, the consumer price index for May will be released on Wednesday morning in the US, shedding light on the impact of tariffs on inflation.
BREAKING: Citing trade wars, the World Bank sharply downgrades the global economic growth forecast for this year. https://t.co/PNmaVrcAMf
— The Associated Press (@AP) June 10, 2025
Meanwhile, Sean Dawson, Head of Research at the AI-driven options platform Derive.xyz, asserted that the price surge was largely influenced by the US Securities and Exchange Commission (SEC) announcing exemptions for decentralized finance (DeFi) projects. He referred to ETH as “the big winner” in this evolving landscape.
Sebastian Pfieffer, managing director at Impossible Cloud Network, acknowledged Ethereum’s efforts to align with European regulations, but emphasized the need for Europe to fully embrace decentralization, instead of imposing unnecessary restrictions. He argued that this approach would free Europe from being under US political influence regarding its cloud infrastructure.
All Eyes on US Inflation Report
Ruslan Lienkha, Chief of Markets at YouHodler, indicated a strong potential for Bitcoin to reach a new all-time high soon. Currently, Bitcoin’s price is just shy of its previous peak. “In general, the financial markets are showing optimism,” he remarked.
“Yet, the risk of a pullback can’t be disregarded, particularly if forthcoming economic data yields disappointing results. All attention is directed toward today’s US inflation report. While markets predict a minor increase, a figure exceeding expectations could spur heightened volatility across various risk assets, including cryptocurrencies,” he added.
Dawson from Derive.xyz noted that, even with the price increase, Bitcoin’s implied volatility remains at low levels for the year. He suggested this situation indicates potential mispricing, providing traders the opportunity to access economical upside leverage or downside protection.
According to Dawson, this muted response in implied Bitcoin volatility, despite rising prices, highlights a potential disconnect between market pricing and underlying risks. This scenario provides a strategic opportunity for traders to take advantage of relatively low-cost options for either potential further growth or downside protection for Bitcoin.
Levels & Events to Watch Next
As of this writing, Bitcoin trades at $109,531, nearing its all-time high of $111,814 recorded on May 22. The cryptocurrency briefly tested the $110,200 mark today, peaking at $110,237, but was unable to sustain that level. If it breaks the all-time high again, it could approach significant resistance levels at $115,103 and $118,358.
In the same timeframe, Ethereum registered an intraday high of $2,821, experiencing a minor pullback but continuing to trend upwards over the day. The coin has breached the $2,720 resistance level, suggesting further increases may follow.
Dawson highlighted that Ethereum’s volatility has surged nearly 5% to reach 70% for its 7-day volatility, while holding steady at 66% for its 30-day volatility. This suggests that daily Ethereum price fluctuations could be nearly double that of Bitcoin’s.
The overall sentiment within the cryptocurrency market is gaining momentum after entering the “greed zone” just yesterday. The Crypto Fear and Greed Index stands at 65 today, reflecting increasingly bullish sentiment as investors continue to commit capital.
In another notable development, US spot Bitcoin exchange-traded funds (ETFs) reported a net inflow of $431.12 million on Tuesday, with BlackRock contributing the largest share at $336.74 million. Cumulatively, the net inflow into these funds has now reached $45.06 billion.
Meanwhile, US Ethereum spot ETFs have now recorded 17 consecutive days of inflows, adding another $124.93 million. BlackRock again led this charge, contributing $80.59 million on June 10. Overall, Ethereum investment products have garnered a total net inflow of $3.5 billion.
Investor interest in Bitcoin remains robust, with over 80 publicly traded companies currently holding BTC. However, concerns are being raised, notably in a report by the global digital asset bank Sygnum, which points to the risks posed by large concentrated holdings in the market. The report states that Strategy’s holdings are “approaching a point where they become problematic,” given that the company controls close to 3% of the total Bitcoin supply while dominating a much larger share of the liquid supply.
Moreover, with Strategy aiming for 5% of the total issued BTC, apprehensions persist. Sygnum warns that significant holdings could compromise Bitcoin’s status as a safe haven asset, making it less suitable for central banks to hold as a reserve. Furthermore, a dip in the liquid supply could discourage large institutional investors.
Quick FAQ
Why did crypto move with stocks today?
Both the cryptocurrency and stock markets have seen gains over the past day, although cryptocurrency’s performance has been particularly pronounced. For instance, the S&P 500 rose by 0.55%, the Nasdaq-100 by 0.66%, and the Dow Jones Industrial Average by 0.25%. Stocks have been on an upward trajectory for three consecutive days, and today, they are anticipated to react positively to the recent agreement reached during US-China trade discussions.
Is this rally sustainable?
The upbeat sentiment driving this two-day rally shows no signs of waning. While analysts anticipate continued upward movement, they advise caution and recommend that traders and investors remain attuned to broader macroeconomic and geopolitical developments.
The post Why Is Crypto Up Today? – June 11, 2025 appeared first on Finance Newso.
