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Bitcoin holds strong above $102K despite sharp liquidations of over $980M across crypto markets.
TRON is today’s top gainer with a 1.21% rise. Meanwhile, Ethereum drops over 6% despite strong ETF inflows.
Dogecoin, Cardano, and Solana face declines between 5% and 7%.
The global crypto market on June 6, 2025, is experiencing broad pullbacks. These are driven by liquidation pressure and political uncertainty. The market cap stands at $3.21 trillion, down 2.93% as of 10.30 AM. Total crypto liquidations crossed $982.55 million. Bitcoin shows strength by holding above the psychological $100K level. However, most altcoins have turned red.
Here’s how the top cryptocurrencies are performing today:
Bitcoin trades at $102,825.64, down 2.28% in the past 24 hours. After peaking at $105,915, it dipped briefly to $100,500. This drop triggered $308 million in long position liquidations. Despite the volatility, Bitcoin’s market cap remains at $2.04 trillion. Daily volume stands at $59.96 billion. The circulating supply is steady at 19.87 million BTC.
Institutional interest has cooled recently. Bitcoin ETF holdings dropped from $27.4 billion in Q1 to $21.2 billion, a 23% decline. BlackRock’s iShares Bitcoin Trust alone saw $430 million in outflows recently. However, corporate holdings are rising fast. They now exceed 1.98 million BTC, representing an 18.6% year-to-date increase.
Avinash Shekhar of Pi42 noted, “Bitcoin could climb above $120K if institutional inflows strengthen, but may dip below $100K if macro uncertainty lingers.”
Ethereum is down 6.51% today, trading at $2,461.42. Its market cap is $297.14 billion, with a 24-hour volume of $28.93 billion. The circulating supply stands at 120.72 million ETH. Despite the price drop, ETH ETFs recorded $56.9 million in inflows on Wednesday. This marks the 13th consecutive day of net positive activity.
Ethereum remains a leader in decentralized finance and the tokenization of real-world assets. It holds a total value of $133 billion locked and $7.375 billion in real-world assets. This outpaces competitors like ZKsync and Stellar.
Technically, Ethereum shows strength. The recent price chart exhibits bullish formations, including a cup and handle pattern. There is also a golden cross between its 50-day and 200-day moving averages. Analysts believe a breakout above $2,700 could trigger a sharp rally.
TRON defies the market downtrend with a 1.21% gain. It trades at $0.2770, with a market cap of $26.27 billion. Daily volume is $906.89 million. The circulating supply stands at 94.85 billion TRX.
TRON’s rise comes from its growing role in stablecoin transfers, second only to Ethereum. Its expanding real-world asset tokenization activities also help. TRX benefits from high user activity and low correlation with mainstream macro fears.
Also Read: Can Ethereum Reach $3K This Week as BlackRock Inflows?
Many altcoins are in red, showing strong bearish sentiment:
XRP is down 3.23%, trading at $2.14. The market cap is $125.99 billion. The drop follows profit-taking after a strong rally earlier this week. Analysts say XRP may continue to correct if volume doesn’t support a rebound.
BNB trades at $640.05, down 4.14% in 24 hours. Market cap is $90.17 billion. The drop reflects a broader pullback in utility tokens. Ongoing ecosystem concerns may weigh on investor sentiment.
Solana is down 4.02%, priced at $147.79. Market cap is $77.46 billion. Though SOL is still up 10% for the week, today’s losses come amid rising liquidation pressure and macro headwinds.
Cardano is down 5.52% to $0.6408. Market cap stands at $22.64 billion. ADA’s decline aligns with losses across other smart contract platforms. Investor caution around utility tokens is growing.
Tether (USDT) and USD Coin (USDC) remain safe havens for investors. USDT trades at $1.00 with a 0.06% gain and a $112.18 billion market cap. Its 24-hour volume is $48.9 billion. USDC is steady at $1.00, up 0.07%, with a $61.2 billion market cap and $9.32 billion volume. Stablecoin inflows reflect risk-averse behavior as traders rotate out of volatile assets.
Dogecoin is down 7.67% over the past 24 hours, trading at $0.1759. Market cap is $26.31 billion. DOGE’s fall follows speculative surges earlier this week. The token is now retracing as market participants pull profits amid reduced meme coin hype.
There are many factors behind the downtrend of cryptocurrencies today:
Trump-Musk Feud: The Trump–Musk political feud is adding to investor jitters. Trump’s promise to cut subsidies for Musk’s ventures fuels uncertainty. Musk warns of recession risks tied to Trump’s proposed tariffs. These headlines impact investor sentiment and temper expectations of a Fed rate cut.
US Stablecoin Bill: On the regulatory front, the GENIUS Act is expected to reach the Senate floor next week. This bipartisan bill aims to regulate stablecoins. 16 Democrats back it and seek to clarify stablecoin issuance and reserve backing.
Profit-Taking and Investor Fears: On-chain data shows long-term Bitcoin holders are taking profits. Whale wallets with 10,000 or more BTC reduced holdings by 3.8%. Funding rates on centralized and decentralized platforms remain bearish. Exchange reserves are rising, indicating possible future selling pressure. The Crypto Fear and Greed Index dropped to 45, entering ‘fear’ territory for the first time since April 22.
Despite $982 million in liquidations and macro fear, Bitcoin’s ability to hold above $100K is encouraging. If institutional flows stabilize, BTC may test resistance near $ 111.8 K. Ethereum’s strong ETF inflows and bullish technicals point to a rebound toward $2,700–2,795.
TRON’s strength could push it toward $0.30 soon, driven by stablecoin use and developer activity. The market remains sensitive to macro events and political risks. Traders should expect ongoing volatility in the days to come.
Also Read:Crypto Market Today: Trump ETF Filing, Developer Protections, and Circle NYSE Debut
