Bitcoin treasury-holding companies are playing a pivotal role in the current market dynamics as the leading cryptocurrency approaches the $110,000 threshold. Over the last 24 hours, Bitcoin has risen by 2%, just shy of the record high it achieved last month. However, it has not kept pace with the overall market, as indicated by the CoinDesk 20 Index, which has increased by 3.4%. Ethereum has seen an even more significant rise, climbing over 6%, according to data from CoinDesk.
Surge in Bitcoin Treasury Assets
Data from BitcoinTreasuries.net reveals that the number of publicly traded companies that have integrated Bitcoin into their treasury assets has reached 126, marking an increase of 22 in just the last month. Together, these firms hold approximately 819,000 BTC, a growth of 3.25% over the same timeframe.
Institutional Interest Intensifies
Matthew Sigel, who leads digital assets research at VanEck, emphasizes the mounting institutional interest in Bitcoin. He points out that the capital-raising potential of companies like Strategy (MSTR), Cantor Equity Partners (CEP), Asset Entities (ASST), Semler Scientific (SMLR), Kindly (NAKA), and Trump Media & Technology Group (DJT) collectively amounts to $76 billion. This figure represents 56% of the total assets under management (AUM) of all Bitcoin ETFs and exceeds the total net inflows into these ETFs by 169% over the past 16 months.
Record-Breaking Fund Performance
An illustration of this institutional backing can be seen in BlackRock’s iShares Bitcoin Trust (IBIT), which has quickly become the fastest fund to accumulate over $70 billion in AUM, reaching this milestone in just 341 days. This achievement surpasses the previous record held by SPDR Gold Shares (GLD), which took 1,691 days to reach the same level, as reported by Bloomberg ETF analyst Eric Balchunas. On a single day, IBIT recorded $2.7 billion in trading volume, ranking it sixth among all ETFs for daily activity. However, it’s essential to note that institutions are not the sole players in this market. A recent analysis by QCP Capital pointed out that implied volatility is at a one-year low, indicating that Bitcoin has been "trapped in a narrow range" as mid-year approaches. The report suggests that a significant movement either below $100,000 or above $110,000 is necessary to reignite interest in the broader market.
Upcoming Economic Indicators
In the meantime, the U.S. Consumer Price Index (CPI) report, expected on Wednesday, and any developments from U.S.-China trade negotiations in London could provide clearer direction for the market.
Notable Dates Ahead
- June 10, 10 a.m.: U.S. House Financial Services Committee hearing to discuss various measures, including the Digital Asset Market Clarity (CLARITY) Act.
- June 11, 7 a.m.: Mainnet hard fork for Stratis (STRAX) at block 2,587,200 to implement the Masternode Staking protocol.
- June 12, 10 a.m.: Coinbase’s State of Crypto Summit 2025 in New York.
- June 16: 21Shares to execute a 3-for-1 share split for the ARK 21Shares Bitcoin ETF (ARKB); ticker and NAV will remain unchanged.
- June 16: Brazil’s B3 exchange launches USD-settled futures contracts for ether (0.25 ETH) and solana (5 SOL), sanctioned by Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), and benchmarked to Nasdaq indices.
Economic Data Releases
- June 10, 8 a.m.: Brazilian Institute of Geography and Statistics (IBGE) to release May consumer price inflation data.
- June 11, 8:30 a.m.: U.S. Bureau of Labor Statistics (BLS) to issue May consumer price inflation data.
- June 12, 8:30 a.m.: U.S. BLS to publish May producer price inflation data.
- June 12, 3 p.m.: Argentina’s National Institute of Statistics and Census to release May inflation data.
Token Unlocks and Events
- June 12: Aptos (APT) to unlock 1.79% of its circulating supply, valued at $53.61 million.
- June 13: Immutable (IMX) will unlock 1.33% of its circulating supply, worth $12.82 million.
- June 15: Starknet (STRK) will unlock 3.79% of its circulating supply, totaling $16.90 million.
- June 15: Sei (SEI) will unlock 1.04% of its circulating supply, valued at $10.59 million.
- June 16: Arbitrum (ARB) to unlock 1.91% of its circulating supply, worth $32.21 million.
- June 17: ZKsync (ZK) to unlock 20.91% of its circulating supply, valued at $41.25 million.
- June 17: ApeCoin (APE) to unlock 1.95% of its circulating supply, totaling $10.88 million.
Token Launches
- June 16: The deadline for unstaking stMATIC as part of Lido on Polygon’s sunsetting process will end.
- June 26: Coinbase is set to delist Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), and Synapse (SYN).
Upcoming Conferences
The CoinDesk Policy & Regulation conference, previously known as State of Crypto, will take place on September 10 in Washington, D.C. This event aims to connect general counsels, compliance officers, and regulatory executives with public officials involved in crypto legislation and oversight.
Token Market Updates
The SEC recently announced special exemptions for DeFi projects, leading to a notable surge in the tokens of Aave (AAVE) and Uniswap (UNI), which jumped by approximately 16%. Ethereum (ETH) also saw a 7.3% increase, with daily trading volume exceeding $26.5 billion. A breakout above the $2,650 resistance level could pave the way for ETH to reach $4,000, a price point it briefly achieved in December before retracting in February. Additionally, CoinMarketCap’s altcoin season index has risen from 18 to 29 out of a maximum of 100, indicating that traders are increasingly focusing on altcoins, even as Bitcoin maintained a dominant position during the recent cycle.
Derivatives Market Activity
Interest in Bitcoin options surged, with open interest (OI) climbing to a June high of $44.33 billion, led by Deribit at $35.24 billion. The CME and OKX followed with $3.5 billion and $3.24 billion, respectively, according to Coinglass data. The ratio of Bitcoin options to futures OI stood at 57.6%, reflecting a strong appetite for options compared to directional exposure. Traders are leaning bullish, evidenced by a put/call ratio of 0.57 on Deribit. The 140K strike leads in notional terms with $1.79 billion, while the June 27 expiry dominates the curve with a total notional value of $13.7 billion. The most actively traded options include calls at 120K and 150K expiring in June and August. Futures open interest momentum remains positive across Bitcoin, AXL, and altcoins, with AXL’s OI surging over 800% in the last 24 hours, as reported by Velo data. Bitcoin funding rates on Deribit reached 36.1% APR, with similarly high rates on Hyperliquid (27.5%) and Bybit (11%), indicating persistent demand from long positions. On Binance, liquidation leverage spiked to $129.3 million near the $106.6K price level, suggesting a concentration of open interest that could be at risk if prices retract. Over the past day, actual Bitcoin liquidations totaled $170.74 million, primarily driven by $160.93 million in short liquidations, highlighting aggressive buying pressure as the price broke through critical levels.
Market Overview
Bitcoin has experienced a 0.71% increase from 4 p.m. ET on Monday, now priced at $109,535.95, reflecting a 24-hour rise of 2.14%. Ethereum is up 3.92%, trading at $2,692.82, with a 24-hour increase of 6.18%. The CoinDesk 20 Index has also risen by 1.52%, now at 3,210.97, with a 24-hour gain of 3.21%. The Ethereum CESR Composite Staking Rate has moved up by 14 basis points to 3.08%. The Bitcoin funding rate on Binance stands at 0.01% (annualized at 10.95%).
Market Statistics
- Bitcoin Dominance: 64.53 (-0.18%)
- Ethereum to Bitcoin Ratio: 0.02445 (+0.99%)
- Hashrate (7-day moving average): 878 EH/s
- Hashprice (spot): $54.72
- Total Fees: 5.00 BTC / $535,990
- CME Futures Open Interest: 151,915
- Bitcoin priced in gold: 32.7 oz
- Bitcoin vs. Gold Market Cap: 9.27%
Technical Analysis Insights
Recent technical analysis suggests that Solana’s SOL has successfully reclaimed the 50-day and 100-day exponential moving averages on the daily time frame. Currently, the price is constrained by the 50-day measure on the weekly time frame. A decisive break and hold above this level could signal a potential move back toward previous range highs between $170 and $180. In the event of a downturn, bulls will be looking for a higher low to form while maintaining the weekly order block as a robust support zone.
Crypto Equities Performance
- Strategy (MSTR): Closed Monday at $392.12 (+4.71%), up 0.64% to $394.61 in pre-market.
- Coinbase Global (COIN): Closed at $256.63 (+2.13%), up 0.34% to $257.49 in pre-market.
- Circle (CRCL): Closed at $115.25 (+7.01%), up 3.44% to $119.27.
- Galaxy Digital Holdings (GLXY): Closed at C$28.58 (+4.31%).
- MARA Holdings (MARA): Closed at $16.27 (+3.11%), unchanged in pre-market.
- Riot Platforms (RIOT): Closed at $10.12 (+2.74%), up 0.3% to $10.15.
- Core Scientific (CORZ): Closed at $12.71 (+4.27%), up 1.57% to $12.91.
- CleanSpark (CLSK): Closed at $10.12 (+3.37%), up 0.2% to $10.14.
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): Closed at $20.16 (+3.01%).
- Semler Scientific (SMLR): Closed at $33.99 (+3.06%).
- Exodus Movement (EXOD): Closed at $29.01 (+0.52%), up 0.24% to $29.08.
ETF Flows Update
- Spot BTC ETFs: Daily net flows of $386.2 million; cumulative net flows total $44.61 billion, with total BTC holdings around 1.2 million.
- Spot ETH ETFs: Daily net flows of $52.7 million; cumulative net flows total $3.4 billion, with total ETH holdings around 3.79 million.
Overnight Flows Analysis
Recent overnight flows report show a total stablecoin market cap exceeding $250 billion for the first time, indicating significant growth in the sector.
In Closing
As the cryptocurrency landscape continues to evolve, various factors from institutional investments to economic indicators play a crucial role in shaping market trends. Stay tuned for ongoing updates and analysis in the ever-changing world of digital assets.
