The cryptocurrency market is experiencing a downturn today, with 90 of the top 100 coins by market capitalization showing declines over the last 24 hours. The total market capitalization of cryptocurrencies has fallen by 3.2%, bringing it down to approximately $3.41 trillion, while total trading volume has settled at $90.9 billion.
Summary:
The cryptocurrency sector continues to face challenges, with nearly all top coins declining today;
Bitcoin (BTC) and Ethereum (ETH) each fell by less than 1%, currently priced at $106,974 and $2,460, respectively;
Market consolidation is occurring amidst a relative calm in global geopolitics, and institutional investors continue to make strategic purchases of cryptocurrencies;
U.S. spot Bitcoin ETFs have seen 15 consecutive days of positive capital inflows;
Bitcoin finds itself in a cautious hold as it approaches the historically weakest quarter, lacking significant momentum drivers;
Analysts maintain a cautiously optimistic view for the third quarter.
Market Movers
Among the top ten cryptocurrencies by market capitalization, only three managed to gain value today, with just one seeing a notable rise.
Bitcoin (BTC) has dipped 0.9% since yesterday, trading at $106,974, having reached a peak monthly close of $107,171 in June.
Meanwhile, Ethereum (ETH) fell by 0.8% during the same period, currently valued at $2,460.
Dogecoin (DOGE) experienced the most substantial drop among the top coins, declining 1.7% to $0.1629.
XRP (XRP) claimed the highest gain, rising by 1.6% to $2.22, with Solana (SOL) and Tron (TRX) also reporting increases of 0.5% and 0.4%, respectively.
Additionally, ten coins among the top 100 recorded price increases in the last day, with five experiencing gains over 1% and two surpassing 3%. Bitcoin Cash (BCH) and Algorand (ALGO) led with increases of 5.1% and 3.8% to $523 and $0.1865, respectively.
On the downside, two tokens exhibited double-digit declines. Tokenize Xchange (TKX) fell by 10.4% to $25.22, while SPX6900 (SPX) decreased by 10.3% to $1.17.
Despite the market’s consolidated pricing, institutional players are still actively investing. Robinhood is making strides into the European market utilizing Arbitrum, which allows trading of tokenized U.S. stocks and crypto futures with leverage up to 3x.
Furthermore, the entity formerly known as MicroStrategy, now called Strategy, has increased its Bitcoin holdings by acquiring an additional 4,980 BTC, while Metaplanet added 1,005 BTC to its reserves.
Metaplanet has surpassed mining company Cleanspark, becoming the fifth-largest corporate holder of Bitcoin after purchasing another 1,005 BTC for $108 million.
The firm now possesses a total of 13,350 BTC, acquired for approximately $1.31 billion, averaging around $97,832 per Bitcoin. The current value of its treasury amounts to $1.45 billion. pic.twitter.com/ivdkctdvvA
— Satoshi Club (@esatoshiclub) June 30, 2025
In noteworthy developments from South Korea, the nation has lifted a 14-year ban on kimchi bonds, permitting local institutions to invest in foreign currency-denominated bonds for domestic use. This change is expected to provide a significant advantage to stablecoins. Additionally, two major neobanks, Kakao Bank and Toss Bank, are set to expand their crypto and stablecoin services.
Cautious Outlook for Bitcoin
Bitcoin recorded its highest monthly closing price of $107,171 in June.
James Toledano, Chief Operating Officer at Unity Wallet, remarked that the strong monthly close and the 30% gain in Q2 reflect remarkable resilience amid macroeconomic uncertainties. He indicated that the asset’s ability to stay above $104,000 suggests institutional confidence, supporting its emerging role as a stable store of value, a perspective shared by many Bitcoin proponents.
Bitcoin achieves its highest monthly close at $107,171 in June.
According to TradingView, Bitcoin ($BTC) closed June with a record high monthly closing price of $107,171.
— CoinNess Global (@CoinnessGL) July 1, 2025
Toledano noted that strong closes in the second quarter often set the stage for bullish trends, indicating a transition from long-term holders to institutional investors and short-term speculators.
Nevertheless, he highlighted on-chain data indicating a “critical demand deficit” alongside negative apparent demand metrics, suggesting a potential decline in buyer interest compared to supply. Political tensions, expectations for interest rate cuts, and a weakening demand signal a need for caution in the near term.
Despite these challenges, there is an underlying optimism about momentum into Q3. Should Bitcoin maintain levels above $104,000, the psychological and technical breakout could draw in sidelined capital, particularly as recent trends show a shift away from U.S. equities.
Simultaneously, analysts at the Bitfinex exchange indicate that Bitcoin is entering a historically weak quarter without strong catalysts.
“As of now, Bitcoin is in a holding pattern,” they stated. “Structural positioning remains stable, and there’s no immediate breakdown risk as long as it hovers between $94,000 and $99,000. However, reclaiming previous all-time highs would require a catalyst, be it macroeconomic relief, substantial ETF flow, or a spike in global liquidity.”
Third quarter performance for Bitcoin has historically shown weakness, with reduced volatility contributing to a continued bias for range-bound price movements.
The cryptocurrency environment remains “highly reactive,” marked by fragile conviction and heightened volatility driven by leverage. Open interest has been rebalanced, creating a cleaner derivatives landscape that may facilitate more structurally driven positioning in the future. As new market entities emerge, deviations above and below the $100,000 to $110,000 range are expected, although these are likely to be short-lived as the second quarter concludes. The timing of the Q2 close is crucial, as it often signals significant changes in market dynamics as the transition to Q3 takes place, according to analysts.
Key Levels and Upcoming Events to Monitor
At present, Bitcoin is trading at $106,974 after experiencing fluctuations from an intraday high of $107,938 to a low of $106,831. The cryptocurrency attempted to surpass the $108,000 mark but was unable to hold this level.
If Bitcoin successfully breaks through and maintains the $108,000 threshold, its subsequent target will be $108,980, before aiming for new all-time highs. Support currently rests at $106,450.
Bitcoin Price Chart. Source: TradingView
In comparison, Ethereum is trading at $2,460 after rising from an intraday low of $2,443 to a daily high of $2,518 before retreating. The digital asset has seen a 1.2% increase over the past week.
The overall market sentiment remains cautious, fluctuating within a neutral range of 47 to 52 in recent days. Today, the Fear and Greed Index stands at 50, reflecting ongoing apprehension among investors as they await clearer signals.
Source: CoinMarketCap
Additionally, as of June 30, U.S. spot Bitcoin exchange-traded funds (ETFs) observed their 15th consecutive day of positive inflows, amounting to $102.14 million. Notable contributions came from BlackRock, which saw inflows of $112.32 million, while Ark and 21 Shares faced a loss of $10.18 million.
On a related note, U.S. Ethereum ETFs recorded inflows of $31.76 million, with Fidelity contributing $25.7 million of this total, while BlackRock added $6.07 million.
Bloomberg ETF analysts Eric Balchunas and James Seyffart have raised their forecast for the approval of U.S. ETFs tracking Solana, Litecoin, and XRP to 95%.
Earlier in April, Balchunas reported that over 70 cryptocurrency ETFs were awaiting review from the U.S. Securities and Exchange Commission (SEC).
To understand what could potentially fit into an SEC framework, aside from futures approved by the CFTC, we examined several data points. Full details and our mid-year outlook can be accessed via this link for Bloomberg Terminal clients: https://t.co/7C0bO3oEI3
— James Seyffart (@JSeyff) June 30, 2025
Meanwhile, USDC issuer Circle has filed for national trust bank status in the U.S., following a public listing that valued the company at nearly $18 billion, enabling it to manage USDC reserves directly.
Frequently Asked Questions
Why did crypto prices move contrary to stocks today?
The cryptocurrency market declined over the past 24 hours, while the U.S. stock market saw gains by the time Monday came to a close. The S&P 500 rose by 0.52%, the Nasdaq-100 climbed by 0.64%, and the Dow Jones Industrial Average increased by 0.63%. These stock movements were attributed to a more stable geopolitical environment, potential trade agreements leading to reduced tariffs, and growing optimism surrounding a possible interest rate cut by the Federal Reserve this year.
Is this dip likely to last?
The market appears to be in a consolidation phase. Additional declines could occur, particularly in response to macroeconomic influences, yet analysts maintain an expectation for prices to rebound in the coming months.
