Key Highlights
- Bitcoin traded at $63,962, up 2.5% in 24 hours, while Ethereum gained 2.3%, BNB rose 1.8%, XRP added 2.7%, and Solana climbed 4.2%.
- U.S. spot Bitcoin ETFs recorded $19.03 million in outflows, while Ethereum ETFs lost $15.89 million, showing that fund flows still lagged the price rebound.
- Crypto liquidations fell to $289.70 million, but shorts lost $164.64 million, showing the rally was partly driven by bearish positions being squeezed.
- SpaceX’s Nasdaq debut added a fresh risk-on catalyst, with SPCX trading near $171 on SoSoValue’s crypto-stock board, up 26.61%, while SPCX also appeared in the crypto liquidation heatmap with $12.64 million in liquidations.
On June 12th, the cryptocurrency market continued to recover. Bitcoin neared $64,000, most major altcoins saw price increases, and the successful launch of SpaceX’s stock gave crypto trading an extra boost of confidence.
Bitcoin’s price increased by 2.5% over the past 24 hours, reaching $63,962.40. Ethereum also saw gains, rising 2.3% to $1,673.95. Other cryptocurrencies like BNB, XRP, and Solana experienced increases of 1.8%, 2.7%, and 4.2% respectively. Dogecoin and HYPE showed significant jumps as well, suggesting investors were moving towards riskier digital assets.
Beyond the fluctuations in cryptocurrency prices, a significant event unfolded with SpaceX’s first day of trading on the Nasdaq stock exchange. According to Reuters, SpaceX shares began trading at $135 each, generating $75 billion from the sale of 555.56 million shares and establishing the company’s value at $1.77 trillion.
SpaceX Debut Adds Risk-On Fuel to Crypto Markets
On June 12th, SpaceX significantly impacted crypto markets. Its entry into areas like tokenized stocks, pre-IPO investments, and crypto trading platforms created new risks and opportunities for investors.
SpaceX launched its initial public offering (IPO) at $135 per share, generating $75 billion – a record-breaking amount, according to Reuters. This priced the company’s value at $1.77 trillion before stock trading commenced.
CryptoTimes previously reported that Coinbase offered contracts allowing non-U.S. users to trade in future SpaceX shares before the company went public. Coinbase, along with Kraken, Bybit, and Binance, were all involved in the growing interest in trading opportunities related to SpaceX.
On June 12th, discussion shifted from anticipating a potential IPO to actual trading of SpaceX stock on cryptocurrency platforms. SoSoValue’s data showed SpaceX (SPCX) trading at $171.08, a 26.61% increase, with $56.19 billion worth of shares traded, making it the most actively traded stock on their platform.
The impact of the market downturn was also felt in related financial products. Data from CoinGlass showed that SPCX experienced $12.64 million in liquidations, making it one of the biggest losses that day outside of Bitcoin and Ethereum.
| SpaceX / SPCX Signal | June 12 Data | Market Read |
|---|---|---|
| IPO price | $135 | Base listing price |
| IPO proceeds | $75B | Record-sized market debut |
| IPO valuation | $1.77T | Mega-cap risk event |
| SPCX price on SoSoValue | $171.08 | Strong first-day premium |
| SPCX daily change | +26.61% | Risk-on demand |
| SPCX value traded | $56.19B | Heavy speculative turnover |
| SPCX liquidations | $12.64M | Crypto derivatives spillover |
It’s important to understand that SpaceX’s actions didn’t directly change the core value of Bitcoin. Instead, they boosted investors’ willingness to take risks. During that same period, several cryptocurrencies – including Bitcoin, Ethereum, Ripple, Solana, and Dogecoin – all increased in value. We also saw more traders closing out losing ‘short’ positions than closing out winning ‘long’ positions, which indicates a shift towards optimism and traders needing to limit their losses as the market became more risk-tolerant.
Macro Update: Oil Slides as Risk Appetite Improves
On June 12th, the overall economic environment became more favorable for investments considered risky. According to Reuters, stock markets around the world increased, while oil prices decreased as investors grew optimistic about a potential peace agreement between the U.S. and Iran. U.S. crude oil fell 1.45% to $86.44 per barrel and Brent crude fell 1.32% to $89.19 per barrel, after both had reached their lowest prices in months earlier that day.
Brent oil futures fell 3.7% to $87.04 a barrel, and WTI crude dropped 3.55% to $84.60 a barrel, according to a Reuters report. This decline followed reports that U.S. and Iranian officials are nearing an agreement to de-escalate conflict in the Middle East.
This was important for cryptocurrency because high oil prices were a major concern in early June. With oil prices falling, it eases immediate inflationary concerns and generally makes investors more willing to take risks – benefiting both stocks and crypto.
Despite some positive signs, the overall economic picture isn’t entirely clear. Recent reports show U.S. producer prices increased by 1.1% in May, a higher jump than expected, and the number of people filing for unemployment benefits rose slightly to 229,000. These figures suggest the Federal Reserve is likely to hold interest rates steady through 2027 and may stop signaling future rate cuts at their next meeting.
Consumer confidence in the U.S. increased in June, reaching 48.9 compared to 44.8 in May, largely due to falling gas prices. However, a Reuters report indicated that people still expect inflation to remain relatively high over the next year (4.6%), and for the next five years (3.4%).
Macro Read
| Macro Signal | Latest Update | Crypto Impact |
|---|---|---|
| Oil prices | Brent and WTI fell on U.S.-Iran deal hopes | Positive for risk assets |
| U.S. equities | Global equities rose as oil cooled | Supports broader risk appetite |
| U.S. PPI | May PPI rose 1.1% | Keeps inflation pressure alive |
| Jobless claims | Claims rose to 229,000 | Labor market still stable, but softening |
| Consumer sentiment | Rose to 48.9 from 44.8 | Improves risk mood |
| Fed outlook | Rates expected to stay unchanged | Limits strong liquidity-driven upside |
Overall economic data is improving slightly, though it’s still a mixed bag compared to the start of the week. Lower oil prices contributed to a recovery in cryptocurrency values, however, persistent high inflation continues to hold back significant market gains.
Crypto Price Data: Top Crypto Assets
| Rank | Token | Price | 1H | 24H | 7D | 24H Volume | Market Cap |
|---|---|---|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $63,962.40 | +0.2% | +2.5% | +5.8% | $30.93B | $1.28T |
| 2 | Ethereum (ETH) | $1,673.95 | +0.3% | +2.3% | +4.1% | $12.54B | $202.07B |
| 3 | Tether (USDT) | $0.9993 | -0.0% | +0.1% | +0.0% | $103.99B | $186.79B |
| 4 | BNB (BNB) | $608.38 | +0.2% | +1.8% | +5.2% | $732.52M | $82.02B |
| 5 | USDC (USDC) | $0.9998 | -0.0% | +0.0% | +0.0% | $14.49B | $74.81B |
| 6 | XRP (XRP) | $1.14 | +0.6% | +2.7% | +3.2% | $1.84B | $70.42B |
| 7 | Solana (SOL) | $68.02 | +1.0% | +4.2% | +3.9% | $3.06B | $39.42B |
| 8 | TRON (TRX) | $0.3139 | +0.3% | -0.3% | -2.1% | $715.68M | $29.76B |
| 9 | Figure Heloc (FIGR_HELOC) | $1.03 | +0.1% | -0.3% | +1.2% | $130.92M | $19.38B |
| 10 | Dogecoin (DOGE) | $0.0887 | +1.4% | +4.9% | +8.8% | $1.33B | $13.72B |
| 11 | Hyperliquid (HYPE) | $61.41 | +2.4% | +9.1% | +2.7% | $905.86M | $13.64B |
Bitcoin rising to around $64,000 is significant because it has re-entered the $63,000–$65,000 price range, an area that previously caused price increases to stall.
Ethereum’s price increased, but it’s still trading below $1,700, meaning its recovery isn’t complete yet. BNB performed well, staying above $600, and Solana saw a more significant jump of 4.2%, suggesting a stronger recovery for riskier assets.
XRP saw the most noticeable gains, increasing by 2.7% to reach $1.14 after a slow performance yesterday. Meanwhile, HYPE bounced back strongly with a 9.1% rise following a series of weaker days.
Top Crypto Gainers and Losers
Top Gainers
| Token | Price | 24H Gain | 24H Volume |
|---|---|---|---|
| Yooldo Games (ESPORTS) | $0.2793 | +105.3% | $65.12M |
| Naoris Protocol (NAORIS) | $0.05212 | +51.1% | $9.99M |
| Plasma (XPL) | $0.08967 | +42.2% | $307.13M |
| Unit Plasma (UXPL) | $0.08963 | +42.0% | $1.55M |
| Infinity Ground (AIN) | $0.1129 | +41.3% | $5.06M |
Top Losers
| Token | Price | 24H Loss | 24H Volume |
|---|---|---|---|
| DeepNode (DN) | $0.6073 | -37.5% | $11.66M |
| Asteroid Shiba (ASTEROID) | $0.0006812 | -36.8% | $12.67M |
| OlaXBT (AIO) | $0.1362 | -34.6% | $30.96M |
| Janction (JCT) | $0.004598 | -27.5% | $10.03M |
| Hamster Kombat (HMSTR) | $0.0002249 | -24.3% | $110.95M |
Trading showed increased risk-taking compared to June 11th. Yooldo Games saw a significant jump, more than doubling in value with $65 million in trades, and Plasma increased by 42.2% on over $307 million in trading volume.
This shift in altcoins feels more substantial than just a temporary price spike. However, some of the worst-performing coins experienced significant drops, including DeepNode, Asteroid Shiba, and OlaXBT, all of which lost over 34% of their value.
Crypto Liquidation Data: June 12, 2026
| Metric | Data |
|---|---|
| Total 24H liquidations | $289.70M |
| Long liquidations | $125.06M |
| Short liquidations | $164.64M |
| 12H liquidations | $166.12M |
| 4H liquidations | $95.80M |
| 1H liquidations | $6.17M |
| Liquidated traders | 110,537 |
| Largest single liquidation | Binance ETHUSDT, $11.87M |
Liquidations decreased further to $289.70 million, which is a good sign. It suggests the market is becoming more stable and experiencing fewer large-scale, forced sales like those that occurred earlier in June.
The difference between short and long positions played a significant role. Short positions experienced losses of $164.64 million, while long positions lost $125.06 million. This suggests the price increase on June 12th was partly driven by traders who had bet against the market (short sellers) being forced to cover their positions as Bitcoin, Ethereum, Ripple, Solana, and HYPE all rose in value.
While this improvement is good – much better than a temporary surge followed by a drop – we still need to see consistent buying interest to confirm the recovery. Prices might jump due to short covering, but that doesn’t guarantee a lasting upward trend.
Liquidation Timeframe Breakdown
| Timeframe | Total Liquidations | Long | Short | Market Read |
|---|---|---|---|---|
| 1H | $6.17M | $1.71M | $4.46M | Mild short squeeze |
| 4H | $95.80M | $41.33M | $54.47M | Shorts led the unwind |
| 12H | $166.12M | $85.55M | $80.57M | Nearly balanced |
| 24H | $289.70M | $125.06M | $164.64M | Rally squeezed shorts |
Liquidation patterns showed improvement compared to earlier trading days. While traders holding long positions suffered losses on June 9th, the following three days – June 10th, 11th, and 12th – saw a mix of results, ultimately favoring those betting against (shorting) the market by June 12th.
This suggests the market may be shifting from simply preventing further losses to starting a more widespread recovery. However, trading activity remains fairly equal between buyers and sellers, indicating continued risk-taking on both sides.
Asset Liquidation Breakdown
| Asset | Liquidations | Market Read |
|---|---|---|
| Bitcoin (BTC) | $71.92M | Main liquidation center |
| Ethereum (ETH) | $57.34M | Second-largest liquidation source |
| Others | $24.38M | Broad leverage pressure remains |
| SPCX | $12.64M | SpaceX-linked speculation entered liquidation map |
| Velvet (VELVET) | $12.37M | High-beta token volatility |
| Solana (SOL) | $11.21M | SOL rally squeezed positioning |
| BEAT | $7.32M | Smaller-token leverage pressure |
| DOGE | $6.48M | Meme-coin leverage returned |
While Bitcoin and Ethereum continued to see the most liquidations, other cryptocurrencies like Solana and Dogecoin, along with riskier, newer coins, also started experiencing increased selling as their prices rose.
SpaceX’s recent appearance on the liquidation map is significant because trading activity related to the company began to reflect overall investor confidence on June 12th. According to Reuters, investors were closely watching SpaceX after its initial public offering (IPO) generated $75 billion and gave the company a valuation of $1.77 trillion.
Exchange Liquidations: 4H Window
| Exchange | 4H Liquidations | Long | Short | Skew |
|---|---|---|---|---|
| All Exchanges | $95.80M | $41.33M | $54.47M | 56.86% short |
| Binance | $48.30M | $21.89M | $26.41M | 54.68% short |
| Hyperliquid | $13.22M | $5.45M | $7.77M | 58.77% short |
| Bybit | $10.22M | $4.79M | $5.42M | 53.1% short |
| OKX | $8.87M | $3.64M | $5.22M | 58.9% short |
| Bitget | $5.92M | $2.22M | $3.70M | 62.48% short |
Binance led the 4-hour liquidation window with $48.30 million. Hyperliquid followed with $13.22 million, while Bybit recorded $10.22 million.
Recent trading activity supports the idea that a short squeeze occurred. Over half of all forced closures of losing positions on major exchanges like Binance, Hyperliquid, Bybit, OKX, and Bitget were from traders who had bet against the price – known as ‘shorts’.
Crypto ETF Data: BTC and ETH ETFs Still See Outflows
US Bitcoin ETFs: Outflows Shrink to $19.03M
U.S. spot Bitcoin ETFs recorded $19.03 million in daily net outflows on June 11. Cumulative total net inflows stood at $53.54 billion, while total net assets were $79.50 billion, equal to 6.26% of Bitcoin’s market cap. Total value traded reached $2.09 billion.
| ETF | Sponsor | Daily Net Inflow | BTC Flow | Cumulative Net Inflow | Net Assets |
|---|---|---|---|---|---|
| IBIT | BlackRock | +$30.26M | +475.86 BTC | $62.06B | $48.59B |
| FBTC | Fidelity | -$5.54M | -87.08 BTC | $10.43B | $11.42B |
| GBTC | Grayscale | $0.00 | 0.00 BTC | -$26.85B | $9.06B |
| BTC | Grayscale | +$5.62M | +88.40 BTC | $2.30B | $3.39B |
| BITB | Bitwise | -$13.12M | -206.30 BTC | $2.00B | $2.33B |
| ARKB | Ark & 21Shares | -$27.21M | -427.90 BTC | $1.24B | $2.09B |
| HODL | VanEck | -$14.84M | -233.31 BTC | $1.14B | $1.05B |
| MSBT | Morgan Stanley | +$2.19M | +34.41 BTC | $274.99M | $261.82M |
| DEFI | Hashdex | +$3.60M | +56.69 BTC | $2.16M | $12.26M |
While things are looking slightly better for Bitcoin ETFs, they’re still experiencing net outflows. The amount of money leaving these funds decreased significantly to $19.03 million, a considerable improvement from the larger outflows seen yesterday.
IBIT saw positive investment with $30.26 million in new money coming in, which is a good sign. However, other funds – ARKB, HODL, and BITB – experienced outflows, resulting in overall negative flows for the group.
While the selling pressure from ETFs is decreasing, it hasn’t completely stopped. Bitcoin’s price is starting to go up even before we see a full return of investment into those ETFs.
US Ethereum ETFs: ETH Funds Lose $15.89M
On June 11th, U.S. spot Ethereum ETFs experienced a net outflow of $15.89 million. Despite this daily decrease, these ETFs have seen a total net inflow of $11.19 billion so far, with current assets totaling $9.24 billion – representing 4.58% of all Ethereum in circulation. Trading volume for the day reached $639.37 million.
| ETF | Sponsor | Daily Net Inflow | ETH Flow | Cumulative Net Inflow | Net Assets |
|---|---|---|---|---|---|
| ETHA | BlackRock | +$8.63M | +5.13K ETH | $11.31B | $4.79B |
| ETH | Grayscale | -$3.99M | -2.37K ETH | $1.86B | $1.47B |
| ETHE | Grayscale | $0.00 | 0.00 ETH | -$5.32B | $1.31B |
| FETH | Fidelity | -$20.53M | -12.20K ETH | $2.12B | $806.88M |
| ETHB | BlackRock | $0.00 | 0.00 ETH | $562.10M | $528.02M |
| ETHW | Bitwise | $0.00 | 0.00 ETH | $388.28M | $182.67M |
While Ethereum ETFs saw slightly less money leaving them overall, there was still a net outflow of funds. One ETF, ETHA, gained $8.63 million, but another from Fidelity (FETH) experienced losses of $20.53 million.
Even though money was leaving Ethereum ETFs, the price of ETH still increased by 2.3%. This mirrors a similar trend with Bitcoin, where the price is rising more quickly than the amount of money flowing into investment funds.
Ethereum’s crucial price point is still $1,700. Unless it rises back above this level, the recent information about ETFs doesn’t suggest a lasting price increase.
Crypto Stocks: Miners Rally, Coinbase Slips
This analysis concentrates on companies directly involved with cryptocurrency – like exchanges, businesses holding crypto on their balance sheets, stablecoin creators, mining operations, and digital asset services – and doesn’t include companies where crypto is just a small part of their business, such as Tesla, GameStop, or SPCX.
| Stock | Sector | Price | % Change | Value Traded | Total Market Cap |
|---|---|---|---|---|---|
| Robinhood (HOOD) | Exchange | $93.120 | +0.96% | $2.11B | $83.05B |
| Coinbase (COIN) | Exchange | $159.595 | -0.52% | $652.54M | $42.27B |
| Strategy (MSTR) | Bitcoin Treasury | $122.885 | +2.28% | $1.35B | $42.11B |
| Block (XYZ) | Bitcoin / Payments | $69.125 | +0.05% | $158.24M | $41.12B |
| PayPal (PYPL) | Stablecoin / Payments | $41.345 | +0.25% | $239.53M | $36.38B |
| Circle (CRCL) | Stablecoin | $79.225 | -4.12% | $602.11M | $20.54B |
| IREN Ltd. (IREN) | Mining / Compute | $60.570 | +6.81% | $1.75B | $20.27B |
| Hut 8 (HUT) | Mining | $120.270 | +3.40% | $238.54M | $13.10B |
| TeraWulf (WULF) | Mining / Compute | $26.295 | +3.73% | $377.16M | $12.56B |
| SBI Holdings (8473) | Crypto Investment | JPY 2827.500 | +0.86% | $74.89M | $11.66B |
| Figma Inc. (FIG) | Digital Assets / Credit | $18.245 | -5.66% | $292.29M | $10.22B |
| Riot Platforms (RIOT) | Mining | $26.800 | +2.52% | $187.50M | $9.88B |
| Cipher Mining (CIFR) | Mining | $24.940 | +10.21% | $451.55M | $9.26B |
| Bitmine (BMNR) | Mining | $16.195 | -1.97% | $265.97M | $8.88B |
| Core Scientific (CORZ) | Mining / Compute | $27.900 | +2.50% | $116.60M | $8.65B |
| Galaxy Digital (GLXY) | Digital Assets | $33.280 | +0.03% | $200.50M | $6.37B |
Stocks in cryptocurrency mining companies saw a stronger recovery than those in cryptocurrency exchanges. Cipher Mining led the gains with a 10.21% increase, followed by IREN at 6.81%, Hut 8 at 3.40%, TeraWulf at 3.73%, and Riot at 2.52%.
Our strategy increased by 2.28%, mirroring the gains seen in Bitcoin. Robinhood’s value also went up, rising 0.96%. However, Coinbase experienced a slight decrease of 0.52%, while Circle saw a more significant drop of 4.12%.
The stock market is showing some improvement compared to earlier this month, with a focus on certain companies. Specifically, mining stocks are performing well, indicating investors are starting to move back into riskier crypto-related stocks now that Bitcoin prices are becoming more stable.
Stablecoin and Liquidity Data
| Stablecoin | Price | 24H Volume | Market Cap | Market Read |
|---|---|---|---|---|
| Tether (USDT) | $0.9993 | $103.99B | $186.79B | Stablecoin turnover jumped sharply |
| USDC (USDC) | $0.9998 | $14.49B | $74.81B | Secondary liquidity stayed active |
Trading volume for USDT reached $103.99 billion, a significant increase from recent days. This suggests that more people are actively buying and selling, contributing to the market’s recovery.
This situation has two possible explanations. It could indicate investors are more willing to take risks and are returning to cryptocurrency, or it might simply mean traders are adjusting their positions during a period of price swings and recovery.
In my research, I observed that USDC trading volume held consistent at $14.49 billion. This indicates continued activity in the market for alternative stablecoins, though unlike Tether (USDT), we didn’t see a sudden surge in trading.
Spot vs Derivatives Volume
| Market Segment | June 12 Data | Read |
|---|---|---|
| Bitcoin spot volume | $30.93B | BTC pushed near $64K with steady turnover |
| Ethereum spot volume | $12.54B | ETH gained but stayed below $1,700 |
| XRP spot volume | $1.84B | XRP joined the rebound after lagging |
| Solana spot volume | $3.06B | SOL led large-cap altcoin strength |
| Dogecoin spot volume | $1.33B | Meme-coin risk appetite returned |
| HYPE spot volume | $905.86M | HYPE rebounded sharply after weakness |
| USDT volume | $103.99B | Liquidity activity surged |
| Total liquidations | $289.70M | Liquidations cooled further |
| Long liquidations | $125.06M | Long pressure eased |
| Short liquidations | $164.64M | Shorts were squeezed during the rally |
| BTC liquidations | $71.92M | BTC remained the main derivatives battleground |
| ETH liquidations | $57.34M | ETH remained second-largest liquidation center |
Current market signals suggest a bullish trend compared to yesterday. Prices have increased, activity with stablecoins is growing, fewer positions are being closed due to insufficient funds (liquidations), and those betting on price decreases (‘shorts’) are experiencing greater losses.
This suggests prices could bounce back soon, but we’re not out of the woods yet. Money is still leaving Ethereum ETFs, and the price hasn’t broken above $1,700. While things are getting better, a full recovery isn’t guaranteed.
Market Technical Setup
| Market Signal | Current Read |
|---|---|
| Short-term trend | Improving |
| Weekly trend | Turning positive for BTC, ETH, BNB, XRP and SOL |
| BTC support | $62,000–$63,000 |
| BTC resistance | $65,000 |
| ETH support | $1,600 |
| ETH resistance | $1,700–$1,800 |
| XRP support | $1.10 |
| SOL support | $65 |
| HYPE support | $58–$60 |
| ETF signal | Still negative, but outflows shrinking |
| Derivatives signal | Short squeeze, lower total liquidations |
| Macro signal | Better as oil falls, but inflation risk remains |
Bitcoin is currently being tested to see if it can continue its recent gains. If the price rises above $65,000 without falling back down, that would suggest a strong upward trend. However, if the price drops below $63,000, any recovery will likely be weak and uncertain.
As I’m watching the market, Ethereum really needs to get back above $1,700 to convince me this recent price increase is a genuine recovery and not just a temporary bounce. I’m also keeping a close eye on XRP; it needs to stay above $1.10 and ideally push towards the $1.17 to $1.20 range. Solana has shown some positive movement, but it still needs to clear the $70 level to confirm a stronger uptrend.
HYPE’s rebound is encouraging, but it needs to hold above $60 after returning to $61.41.
Key Levels to Watch
| Asset | Support | Resistance | Breakout Level | Breakdown Level |
|---|---|---|---|---|
| BTC | $62,000 | $65,000 | $66,500 | $60,000 |
| ETH | $1,600 | $1,700 | $1,800 | $1,500 |
| BNB | $600 | $625 | $650 | $570 |
| XRP | $1.10 | $1.17 | $1.20 | $1.05 |
| SOL | $65 | $70 | $75 | $60 |
| HYPE | $60 | $65 | $70 | $55 |
| DOGE | $0.085 | $0.090 | $0.100 | $0.080 |
As a Bitcoin investor, I’m watching the $65,000 mark closely. If we can get back above that price, it’ll be a good sign that this recent recovery has some real momentum. But if we fail to break through, we could easily fall back down towards the $62,000-$63,000 range.
Ethereum needs to break past the $1,700 mark. Solana should stay above $65 and ideally reach $70. XRP continues to find support around $1.10, and HYPE has to maintain its recovery by staying above $60.
Market Outlook
On June 12th, the cryptocurrency market improved compared to the previous day thanks to a combination of factors. These included falling oil prices, the closing of some leveraged positions (short liquidations), and increased investor confidence following news related to SpaceX.
Bitcoin nearly reached $64,000 while other major cryptocurrencies like Ethereum and BNB also increased in value. XRP started to recover, and Solana showed the biggest gains among large-cap coins. HYPE experienced a significant bounceback. Meanwhile, SPCX – a token connected to SpaceX’s recent stock market launch – drew a lot of investor attention, with its value jumping 26.61% (according to SoSoValue) and triggering liquidations as reported by CoinGlass.
The recent gains aren’t completely secure yet. Bitcoin and Ethereum ETFs continue to see money leaving, Ethereum is still trading under $1,700, and some of the price increase was due to traders closing out short positions. Bitcoin needs to climb above $65,000 to signal a solid recovery, rather than just a temporary bounce.
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2026-06-12 21:44