Altcoins, ETH & general crypto
The Fed held its benchmark rate at 3.50%-3.75% in Kevin Warsh's first meeting as chair, but nine of eighteen officials now project at least one hike by year-end, against none in March. Bitcoin fell to $64,800 before steadying near $65,300.
US consumer prices rose 0.5% in May and 4.2% on the year, matching forecasts, while core inflation came in a tenth below expectations. Bitcoin held just above $61,000; rate markets moved more than crypto did.
Ether traded about 70% below its August 2025 record of $4,953.73 on Monday, roughly 20 points worse than bitcoin, as more than $1 billion of positions were liquidated.
Bitcoin traded as low as $59,743 on Friday, its first move under $60,000 this cycle, after a five-session fall of about $14,000. A $1.57 billion liquidation wave marked the fourth billion-dollar day in five sessions, and total crypto market value dropped to $2.23 trillion.
About $3 billion of leveraged positions was liquidated over two days as bitcoin fell 4.90% to $63,682.64. Open interest dropped 8.5% to $111.4 billion, and Solana hit its lowest price since December 2023 with 94% of its liquidations long.
US spot crypto ETFs recorded a 13th consecutive session of net outflows on Wednesday, taking the total to $4.37 billion since mid-May. Bitcoin fund assets have fallen from $104.29 billion to $82.83 billion, and the ETF share of bitcoin's market capitalization has slipped to 6.36%.
Roughly $1.8 billion of leveraged positions were liquidated in 24 hours on Tuesday, closing out more than 272,000 traders, as US spot bitcoin ETFs recorded a second straight outflow above $480 million.
Stellar's XLM rose 40.4% on the first trading day of June, lifting its market capitalization above $9.6 billion on $2.3 billion of spot turnover, after an integration with the DTCC's tokenization work. The broader market opened the month lower, with US spot bitcoin ETFs shedding $483.8 million.
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