Overview

• On June 9, in response to renewed US-China trade negotiations, Bitcoin climbed above $110,000 for the first time in nearly two weeks before settling around $109,795.
• Data from CoinGlass shows that over $330 million in crypto short positions were liquidated in 24 hours, led by roughly $196 million in Bitcoin shorts.
• Ethereum rallied to over $2,640 before settling near $2,580 as altcoins such as Dogecoin also posted gains.
• Analysts warn that the rally shows signs of fatigue as low implied volatility and waning bullish momentum raise sustainability concerns.
• Institutional interest in Ethereum staking is accelerating after upgrades like Pectra helped draw nearly $500 million from institutional investors.