Bitcoin rebounded above $110,000 on June 9, recovering from last week's selloff. This surge was fueled by strong ETF inflows, easing macroeconomic tensions, and renewed optimism in risk markets (Source: CryptoSlate, June 9).
The world's largest cryptocurrency reached an intraday high of $110,653, up from a daily low of $105,426 during Asia and UK trading sessions. As of press time, Bitcoin was trading at $110,200, reflecting a 4.10% increase over the past 24 hours (Source: CryptoSlate, June 9).
This sharp increase is driven by robust demand from institutional and corporate buyers, particularly through spot Bitcoin ETFs. Spot exchange-traded crypto funds from major US firms like BlackRock and Fidelity have collectively seen over $11 billion in inflows over the past seven weeks (Source: CryptoSlate, June 9).
On-chain data indicates a decline in BTC reserves on centralized exchanges, suggesting reduced selling pressure. Strategy confirmed a recent purchase of 1,045 BTC between June 2 and June 6 (Source: CryptoSlate, June 9).
The rally also coincides with growing corporate interest in adopting Bitcoin as a treasury asset. Ethereum (ETH) rose nearly 6% to $2,660, while Solana (SOL) climbed 4% to $159 (Source: CryptoSlate, June 9).
BNB and XRP were up 2% and 2.53%, respectively, while Dogecoin (DOGE) and Sui increased by roughly 6% each over the past day (Source: CryptoSlate, June 9). However, sharp reversals remain possible due to potential ETF outflows or renewed macro pressure.