Cryptocurrency Market Update – June 9, 2025

Bitcoin (BTC)

x20;Bitcoin (BTC) has regained momentum over the weekend, trading around the mid-\$105K range by June 8. The coin briefly spiked to about \$106,100 (24h range \~\$105,000–\$106,100) and closed near \$106,332 (≈+0.8% 24h). This resilience follows a strong U.S. jobs report that eased recession fears, even as roughly \$132 million of BTC spot-ETF outflows capped gains.

Price: ≈\$106,300 (+0.8% 24h); holding above \$105K support on June 8.

Drivers: Strong U.S. jobs data boosted risk appetite. Bullish narratives (e.g. BTC’s uptrend vs. gold) remain in play.

Flows: U.S. spot-BTC ETFs saw \~–\$132 M net outflow last week, which has limited upside despite broader crypto inflows.

Policy: U.S. crypto policy is in focus – the SEC holds a crypto roundtable on June 9, and Congress is considering new legislation (a Clarity Act markup on June 10, plus a proposed “Bitcoin Act” to buy 1 million BTC).

Ethereum (ETH)

Price: \~\$2,510 (≈+3% 24h). ETH bounced from \~\$2,460 support to a high near \~\$2,532 before settling above \$2,500.

Demand: U.S. ETH ETFs have seen record inflows. Nine ETH funds drew \~\$812 M over 14 trading days (longest inflow streak of 2025). BlackRock’s ETHA ETF alone logged \~\$492 M of net inflows last week, signaling strong institutional buying.

Outlook: Robust ETF demand and price support point to bullish bias. Key factors include ongoing ETF flows and macro data (e.g. U.S. inflation/Fed signals). Analysts note that softer U.S. inflation (and more ETF inflows) could drive crypto prices higher, whereas higher inflation/Fed tightening would likely curb gains.

Other Leading Cryptocurrencies

XRP: jumped \~4.1% on June 8 to about \$2.27 (a 2025 high). Optimism over a U.S. XRP spot-ETF approval (and related Ripple case news) fueled the move.

Altcoins: Total crypto market cap is roughly \$3.26 trillion (up \~0.2% over the weekend). Other major altcoins (e.g. SOL, ADA) saw modest gains on ETF-related optimism, but none matched XRP’s breakout.

Breadth: Bitcoin’s dominance remains high. Aside from XRP’s rally, most top tokens were steady or up slightly, reflecting a broadly cautious, risk-on market mood.

Market Drivers & Outlook

Regulation: The SEC’s June 9 crypto roundtable and Congressional bills are key catalysts. U.S. legislators plan a Clarity Act markup on June 10, and Sen. Lummis’s proposed Bitcoin Act (buying 1M BTC over 5 years) is in play.

 Macroeconomics: U.S. May job growth beat expectations, easing recession fears and lifting risk appetite. Investors will now watch U.S. inflation and Fed policy closely. In fact, analysts say softer inflation (with continued ETF inflows) could propel crypto higher, whereas hotter inflation or tighter Fed policy would likely cap gains.

Other Factors: Global events (e.g. U.S.-China trade talks on June 9) could sway sentiment. Notably, recent domestic unrest (e.g. the L.A. situation) has so far had minimal impact on crypto prices.

Sources: Latest market data and analysis from CoinDesk, Bloomberg, FXEmpire and others, as of June 9, 2025.