The cryptocurrency market continued its recovery, rising 1.47% to reach a total market capitalisation of US$3.44 trillion.

• Bitcoin faced volatile swings driven by geopolitical tensions and macro uncertainty, briefly dipping below $100,000 after Israeli-Iranian conflict escalated. Despite this, institutional and corporate demand provided strong support. U.S. spot Bitcoin ETFs attracted $4.5 billion in net inflows, while firms like MicroStrategy, GameStop, and Metaplanet Capital increased their BTC exposure through innovative financing strategies. Bitcoin closed the month at $107,521, holding above key technical levels and signaling potential strength heading into July.

• Ethereum (ETH) Ethereum opened June at $2,607.20 and traded in a tight range until mid-month as markets awaited the Fed’s update and digested slower U.S. growth signals. ETH briefly climbed to $2,877.92 before geopolitical tensions on June 13 triggered a sharp selloff, pushing prices down to $2,447.78. Despite this, Ethereum’s on-chain activity remained strong, with daily active addresses averaging around 430,000 and nearly $1.93 billion in stablecoins flowing into DeFi during the week of 9 June. Institutional demand strengthened, with ETH products attracting $1.16 billion in net inflows and major players like BlackRock and Galaxy Digital reallocating capital into Ethereum. Ethereum closed the month at $3,373.17.  

• Price Movements. The crypto market saw a new wave of narrative leadership centered on NFT applications, which surged 20.8% as appetite for digital collectibles and metaverse projects accelerated. Store-of-value tokens climbed 10.0%, reflecting renewed demand for yield-insulated assets. DeFi gained 2.6% and exchange tokens rose 1.2%, underscoring the resilience of core finance and trading ecosystems amid broader uncertainty.

  Bitcoin dominance at 64.8% by month-end, approaching multi-year highs near 70% when capital rotation into altcoins typically strengthens. Many infrastructure and emerging sectors lagged, with data availability declining 33.2%, utilities and security down 20.0% and the broader Bitcoin ecosystem off 19.2%. Other themes such as DePIN fell 17.9%, AI dropped 15.3% and memecoins slid 13.5%, indicating that fresh liquidity remains concentrated in the top narratives and that a true alt season still hinges on a meaningful shift away from Bitcoin.  

• Macroeconomics. The US Federal Reserve held its benchmark rate at 4.25–4.50%, warning that persistent inflation and incoming tariff hikes would keep borrowing costs elevated longer than anticipated. Although policymakers still pencilled in two rate cuts for later this year, they slowed the projected pace after tariff-driven price pressures and a softer growth outlook. That balanced stance helped steady risk assets into month-end. 

  Earlier in the month, U.S. and China negotiators agreed on a framework to revive their 2023 trade truce on June 10, yet key export curbs on military-grade rare-earth magnets remain unresolved and could reignite volatility. At the same time, President Trump delayed a threatened 50% tariff on EU imports, moving the original July 9 implementation to late May—boosting European markets and tempering dollar strength. Meanwhile, China’s official manufacturing PMI held at 49.7 in June for a third consecutive month below the 50-point growth threshold, though new domestic orders ticked up to 50.2, underscoring mixed economic signals that kept investors cautious. 

• Geopolitics. Geopolitical risk surged on June 22 when U.S. airstrikes on Iran’s underground nuclear sites escalated broader Israel–Iran hostilities. That shock sent Bitcoin briefly below $100,000 and triggered roughly $595 million in long-position liquidations before markets snapped back, reminding everyone how episodic conflicts can prompt sharp but short-lived moves across both traditional and digital assets.