Bitcoin Faces Resistance, ETF Inflows Slow
Bitcoin (BTC) slipped below $108,000 after briefly testing the $110,000 resistance level, prompting a wave of profit-taking.
The price had briefly surged past $110,000 following softer-than-expected U.S. inflation data, which boosted investor optimism and hinted at a potential breakout in the coming weeks. However, geopolitical tensions—particularly between the U.S. and Iran—have added pressure, pushing investors toward traditional safe-haven assets like gold.
Ethereum (ETH), the second-largest cryptocurrency by market cap, is currently trading around $2,765, down over 1%.
The global cryptocurrency market capitalization has dipped by 1.6% at $3.39 trillion.
Most major altcoins are in the red today, with AVAX, LINK, SUI, ADA, and TRX each down by roughly 5%.
In the U.S. spot crypto ETF space, June 11 saw spot Bitcoin ETFs post a net inflow of $164.6 million, while Ethereum ETFs recorded $240.3 million. Although this signals ongoing investor interest, it’s a 61% drop from the $435 million inflow seen on June 10. The slowdown is largely due to Bitcoin’s price hovering near $110,000, indicating a lack of strong upward momentum amid profit-taking.
Notable Movers:
KAIA rose 4% today, extending a 60% weekly rally after its chairman announced plans to launch a Korean won-pegged stablecoin.
Circle has launched USDC on World Chain, though WLD is down 5.5%, trading near $1.10.
The SEC has blocked a $1B DeFi filing tied to a Solana acquisition plan. SOL is down over 4%, trading around $159.16.
Coinbase listed Fartcoin at 9 AM PT today. After a 16% pre-listing rally, it’s now up 1%, trading near $1.35.
Stellar (XLM) is up 10% for the week, despite being down 1% intraday. This follows Nasdaq’s filing to include XLM in its benchmark index by year-end.
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