The cryptocurrency market experienced a broad rally on June 24, 2025, following a reduction in tensions in the Middle East. Nearly 98 of the top 100 cryptocurrencies rose in value over the past 24 hours, pushing the total market capitalization up 2.9% to $3.23 trillion. Daily trading volume reached $150 billion.
Bitcoin (BTC) increased 3.5% to $105,471, up from $101,924 the previous day. Ethereum (ETH) gained 7.5%, trading at $2,422. XRP led among top coins with an 8.1% rise to $2.20. Around 30 cryptocurrencies posted double-digit gains, with Sei (SEI) up 36.1% to $0.2801 and SPX6900 (SPX) rising 27.8% to $1.31. Only OKB (OKB) and WhiteBIT Coin (WBT) declined by 3% and 0.8%, respectively.
The market had dropped nearly two weeks earlier due to escalating conflict between Israel and Iran. A recent announcement by former US President Donald Trump claimed a ceasefire was in place, although uncertainty persists as Israel has not confirmed and Iran continues military activity.
This easing geopolitical tension helped restore appetite for higher-risk assets like cryptocurrencies. Experts note that Bitcoin dominance has reached a 4.5-year high at 65.73%, typically a sign of altcoin weakness. However, capital continues flowing into altcoins, supported by accumulating long-term holders rather than panic selling.
Data from Glassnode indicates an increase in both loss sellers and conviction buyers since June 10, suggesting mixed market sentiment with ongoing cost-basis lowering by some investors.
James Toledano, COO at a crypto firm, highlighted the link between oil prices and Bitcoin’s price dynamics. Rising oil costs increase Bitcoin mining expenses, potentially supporting prices but heightening volatility. The recent market adjustment likely reflects pricing in possible crude oil hikes.
Currently, Bitcoin faces resistance near $106,000, with potential targets at $107,580 and $109,041. Support levels stand at $103,965 and below. Ethereum’s intraday range is between $2,206 and $2,425. The crypto Fear and Greed Index has moved from 37 to a neutral zone, indicating reduced fear and cautious optimism.
Institutional interest remains strong. US Bitcoin ETFs recorded significant inflows on June 23, led by BlackRock ($217.6 million) and Fidelity ($105.66 million). Ethereum ETFs also saw notable inflows, with Fidelity attracting $60.48 million.
Separately, investor Anthony Pompliano announced a $1 billion merger to create ProCap Financial, a Bitcoin-focused public company. Meanwhile, Hong Kong-based VMS Group plans to invest up to $10 million in Re7 Capital, a London hedge fund specializing in decentralized finance. VMS cites clearer regulatory support and growing institutional endorsement as factors for entering crypto now.
Market Summary:
- Crypto market cap: $3.23 trillion (+2.9%)
- Bitcoin: $105,471 (+3.5%)
- Ethereum: $2,422 (+7.5%)
- Top gainers include SEI (+36.1%), SPX (+27.8%), XRP (+8.1%)
- Market sentiment moved from fear to neutral
- Institutional inflows supporting market stability
Outlook: While geopolitical and macroeconomic risks remain, analysts remain cautiously bullish on cryptocurrencies over the long term.