Jun 11, 2025

BTC briefly breaks $110K as crypto markets rally

Industry landscape

Russia's Moscow Exchange (MOEX) has launched the Bitcoin derivatives index MOEXBTC on June 10.
US SEC has delayed its decision on the Canary Hedera ETF application by requesting additional comments, while also requiring the issuer of the spot Solana ETF to update its S-1 filing, with analysts predicting approval within four months.
Elon Musk’s xAI has announced a partnership with prediction market Polymarket to introduce GROK analysis into market predictions.
Nasdaq has filed a listing application for the 21Shares SUI ETF with US SEC.
According to CoinDesk, Ripple has announced that the EVM-compatible sidechain of XRP Ledger (XRPL) will be launched in the second quarter.
The Financial Services Regulatory Authority (FSRA) of ADGM has announced amendments to its regulatory framework for digital assets, introducing new approval processes, capital requirements, and investment options to foster innovation.
Deutsche Bank and digital payment provider Ant International have announced their strategic partnership to jointly promote tokenized deposits and stablecoin development.
US Court of Appeals has ruled that Donald Trump's tariffs may remain in effect during the appeal process.

Exchange updates

Coinbase has listed HOME (HOME).
Hyperliquid has launched RESOLV/USDT perpetual contract with up to 3x leverage.
Bybit will support the Cosmos (ATOM) v24.0.0 network upgrade on June 11.

Mainstream data observations

BTC core liquidation positions: Long positions at $108,373 with a liquidation amount of $732 million. Short positions at $110,725 with a liquidation amount of $533 millionThe current BTC price: $109,538. Strong liquidation pressure on long positions, with concentration near $108,400, where significant liquidation intensity is present.
ETH core liquidation positions: Long positions at $2,719.5 with a liquidation amount of $836 million. Short positions at $2,839.5 with a liquidation amount of $340 millionThe current Ethereum price: $2,788.2. Significant liquidation pressure on long positions, with substantial liquidation amounts near $2,700, a key support level to watch.
Total stablecoin market cap: $250.40B. The total market cap saw a slight increase on June 11. USDY issued by Ondo increased by 7.79%, with a total of 49.62M newly minted. On Ethereum, USDY supply rose by 13.19%, bringing its current total market cap to $687 million.
BTC market share: 64.05%TOTAL 3 market cap: $887.32B. BTC market share continues to fluctuate above 64%. TOTAL 3 market cap has seen a slight increase. Ethereum surged above $2,650 on the morning of June 11, reaching a high of $2,727.90. Moving forward, the focus will be on changes in BTC market share.
Bitcoin MVRV-Z score: 2.60. MVRV is the ratio of the minimum market value (current market cap) to the realized value (the total value of all BTC at their last movement). BTC’s market valuation is currently in a moderately high range, with the market trending optimistically but not yet at an extreme level.
Bitcoin BVIV score: 44.04. The BVIV score is currently in the "neutral volatility range." The market remains relatively stable, though potential breakouts or sharp movements may be forming.

[Market rating]

On the morning of June 11, the CLARITY Act amendment to "prohibit Donald Trump from profiting from crypto assets" was rejected. BTC briefly broke above $110,000. ETH surged past the key $2,750 level, reaching a high of $2,834.51. Positive comments from US SEC Chair on DeFi continue to drive momentum, with DeFi leading across sectors, posting a 24-hour gain of 6.36%. The current market bull/bear sentiment score is 85 (Bullish).

[0-40 Bearish; 40-50 Cautiously Bearish; 50-70 Neutral; 70-80 Cautiously Bullish; 80-100 Bullish]

Emerging projects

Token	ZENAI	SBET	JTVO
Description	The ZENAI token is about to launch its dApp, where holding the token grants access to corresponding usage rights, offering features like AI image generation and video creation.	The concept is $SBET, Ethereum's MSTR, led by Ethereum co-founder Joseph Lubin.	JATEVO (Jatayu Vortex) - A decentralized AI LLM inference platform.
Price	$0.001680	$0.0009340	$0.002855
Market Cap（$)	1.6 million	9.4 million	2.1 million
Token Holders	80045	3233	1762

Token	LOCKIN	ZEUS	AVM
Description	The concept is to lock in the target action, with history being made by those with a goal.	A meme on Ethereum, the concept is Pepe's little dog and another self of Matt Furie.	A virtual machine that allows agents to write, run, and verify code without human assistance.
Price	$0.01132	$0.0(7)1806	$0.1787
Market Cap（$)	11.2 million	7.5 million	17.8 million
Token Holders	22033	3984	1601

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