On June 9th, the price of Bitcoin rebounded above $110,000, recovering the ground lost in last week’s sell-off. This rise was attributed to strong inflows of exchange-traded funds (ETFs), the easing of macroeconomic tensions and the resurgence of optimism in risk markets, prompting investors to shift back to digital assets.
During the trading sessions in Asia and the UK, Bitcoin soared from a daily low of $105,426 earlier in the day to an intraday high of $110,653. As of the time of publication, the trading price of Bitcoin was $110,200, having risen by 4.10% in the past 24 hours.
The sharp increase in the price of Bitcoin this time is mainly attributed to the strong demand from institutional and corporate buyers, especially the purchases made through spot Bitcoin ETFs. Over the past seven weeks, spot crypto trading funds issued by major US companies such as BlackRock and Fidelity have attracted more than 11 billion US dollars in inflows, consolidating Bitcoin’s position in traditional financial investment portfolios.
On-chain data shows that the Bitcoin reserves on centralized exchanges have continued to decline, indicating that despite the price increase, the selling pressure has eased somewhat. Earlier this week, the price of Bitcoin failed to remain above $108,000, and this price rebound may restore investors’ confidence.
The rebound of Bitcoin is also in line with the new buying behavior of well-known companies. MicroStrategy confirmed that it purchased 1,045 Bitcoins between June 2nd and June 6th. Meanwhile, enterprises’ interest in Bitcoin as an inventory asset has continued to rise, and the submission of related application documents has also accelerated in recent weeks.
Although volatility remains high, if macro conditions remain favorable, breaking through $110,000 could lay the foundation for a sprint towards $115,000 and eventually towards $120,000, which is in line with Standard Chartered Bank’s forecast for the second quarter. The broader cryptocurrency market has also shown strong momentum, although trading prices are far from reaching historical highs. As of the time of publication, Ethereum (ETH) rose nearly 6% to $2,660, and Solana (SOL) increased 4% to $159. Meanwhile, Binance Coin (BNB) and Ripple (XRP) rose by 2% and 2.53% respectively, while DOGE (DOGE) and SUI (SUI) both increased by approximately 6% over the past day.
However, despite the growing optimism in the market, if there is an outflow of ETF funds or new macro pressure triggered by geopolitical risks, the price of Bitcoin still has the potential to experience a significant reversal.
As of 00:06 UTC on June 10, 2025, Bitcoin ranked first by market capitalization, with its price rising by 4.18% over the past 24 hours. The market capitalization of Bitcoin is 2.19 trillion US dollars, and its 24-hour trading volume is 57.45 billion US dollars. The total value of the entire cryptocurrency market is 3.44 trillion US dollars, with a 24-hour trading volume of 121.15 billion US dollars. Bitcoin currently holds a dominant position of 63.76%.
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