Crypto Market Recap: Bitcoin Price Nears All-time High, ETF Approval Odds Rise
By Giann Liguid and Meagen Seatter | June 11, 2025, 01:05 PM PST
The cryptocurrency market has experienced a notable surge in recent days, with Bitcoin nearing its all-time high and positive indicators suggesting potential Exchange-Traded Fund (ETF) approvals on the horizon. As traders wrapped up their activities for the day, easing geopolitical tensions and favorable inflation data contributed to the market’s uplift.
Bitcoin and Ethereum Price Update
On June 11, Bitcoin (BTC) was priced at $108,710, reflecting a slight decrease of 0.8 percent over 24 hours. During the trading session, Bitcoin fluctuated between a low of $108,574 and a high of $110,269. This follows a significant rise of over 10 percent since June 5, when Bitcoin briefly touched the $110,000 mark earlier in the day.
Market analysts remain optimistic about Bitcoin’s future performance. If it breaks through its previous all-time high of $112,000, there is a growing expectation that it could quickly rise to the $114,000 threshold, with some expert targets in the short term ranging from $120,000 to $150,000. Long-term forecasts place Bitcoin’s value potentially between $1 million and $2.4 million.
On-chain analysis from Glassnode indicates a shift in market behavior, where long-term holders are increasingly buying rather than selling. This trend suggests a rise in institutional interest and a strategic move towards long-term holding among investors. The volatility seen in Bitcoin’s price has also been noted to be unusually low, indicating a potentially stable market condition while leaving room for significant price movements if demand changes.
Ethereum (ETH) also exhibited positive growth, ending the day at $2,810.96 with a 1.6 percent increase over the same timeframe. Throughout the day, Ethereum saw a low of $2,796.60 and a high of $2,870.74. ### Altcoin Price Update
Several prominent altcoins also experienced fluctuations in price. Solana (SOL) closed at $162.72, down 0.5 percent, with a daily range of $163.05 to $167.80. XRP, another major player, was trading at $2.29, marking a 0.3 percent decline, while Sui (SUI) fell by 0.7 percent to $3.42. In contrast, Cardano (ADA) dipped to $0.7041, representing a 0.5 percent decrease, with intraday highs reaching $0.7285. ## Today’s Cryptocurrency News Highlights
Experts Call for ETF Approvals
Analysts from Bloomberg, Eric Balchunas and James Seyffart, have suggested a "potential Alt Coin ETF Summer," indicating a strong possibility for ETF approvals by the US Securities and Exchange Commission (SEC) as early as July. The anticipated approvals could include exchange-traded funds tracking broad crypto indexes, with Solana expected to be a key player, particularly with its recent filing for exchange-traded funds with staking components.
Polymarket has reported a 91 percent chance for the approval of spot Solana ETFs, which has heightened excitement within the crypto space.
Stripe to Acquire Privy
In a move highlighting the growing intersection between traditional finance and cryptocurrency, digital payment giant Stripe announced its intention to acquire Privy, a cryptocurrency wallet infrastructure company. This acquisition signifies Stripe’s increasing involvement in the digital asset sector, bolstering its capacity to provide developers with essential tools for creating crypto solutions.
Privy, which specializes in developing secure digital wallet infrastructure, will operate as a subsidiary under Stripe’s banner, offering it enhanced resources to innovate further in the digital asset realm.
Ukraine’s Parliament Explores Crypto Reserves
Ukraine’s legislative body, the Verkhovna Rada, has introduced a draft bill proposing amendments to banking laws that would allow the National Bank of Ukraine to include cryptocurrencies in its reserves alongside traditional assets such as gold and foreign currencies. While the government is not aggressively pushing for cryptocurrency adoption, it aims to adapt to global trends regarding digital assets.
Bullish Files for US IPO
The crypto exchange Bullish has confidentially filed for an initial public offering (IPO), reflecting renewed optimism in the digital asset market. This development follows a wave of recent IPO activity in the crypto space, underscoring a potential shift towards a more favorable regulatory environment for cryptocurrencies.
Ondo Launches Tokenized US Treasuries on XRP Ledger
Ondo Finance has announced its rollout of OUSG, a tokenized short-term US Treasury product, on the XRP Ledger, enabling round-the-clock minting and redemption for institutional investors. This collaboration leverages Ripple’s new RLUSD stablecoin for settlement, marking a significant advancement for decentralized finance on public ledger platforms.
Lawsuit Against Strategy Over Bitcoin Strategy Risks
Finally, the investment firm Strategy is facing a class-action lawsuit alleging that it misled shareholders regarding the risks associated with its sizable Bitcoin investments. This lawsuit follows a report of nearly $6 billion in unrealized losses attributed to Bitcoin’s volatility.
As news continues to evolve in the cryptocurrency market, investors and enthusiasts alike are encouraged to stay informed about these significant developments.
For real-time updates and further insights, follow us @INN_Technology.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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