Why Is Crypto Up Today? – June 3, 2025

After several days of consecutive slight decreases, the crypto market has turned green. The majority of the top 100 coins are up over the past 24 hours. At the same time, the cryptocurrency market capitalization has decreased by 1% to $3.43 trillion. The total crypto trading volume is at $101 billion.

TLDR:

Crypto market cap sees a small drop, while most coins turn green;

BTC may drop below $100,000 but the broader structure remains bullish;

Market sentiment shifts towards greed again;

Capital is rotating toward decentralized stores of value;

US spot BTC ETFs record outflows again, spot ETH ETFs continue the inflow streak;

The rally still seams sustainable.

Why Is Crypto Up Today? Crypto Winners & Losers

At the time of writing, of the top 10 coins per market capitalization, nine are green. Only one has seen a decrease, but so minor that the price is practically unchanged. Bitcoin (BTC) fell 0.2% to the price of $105,224. Notably, this is higher than yesterday’s $104,884.

Ethereum (ETH) appreciated the most in this category. It’s up 4%, now trading at $2,610. The rest of the green list is up between 1% and 3%.

The Ethereum Foundation announced on Monday that it laid off members of its research and development team and restructured its Protocol Research and Development division, rebranding it to ‘Protocol’. It stated that “Protocol is now a more united and leaner organization with more focused teams.”

Announcing Protocolhttps://t.co/LMANvhQ0X3

— Ethereum Foundation (@ethereumfndn) June 2, 2025

Of the top 100 coins, while 20 have seen their prices rise yesterday, 20 have seen their prices drop today. Bittensor (TAO) decreased the most in this category. It’s down 5% to $392.

On the other side, Dogwifhat (WIF) is the day’s best performer and the only one with a double-digit increase. The coin is up 12.3%, now trading at $0.975. It’s followed by Ethena (ENA), which increased by 8.7%, changing hands at $0.3385.

Meanwhile, trading platform PrimeXBT argues that despite last week’s bearish close, the broader structure remains bullish. There are consistent higher highs and higher lows still defining the trend.

“If the green range continues to hold, the bias remains bullish with caution. However, a clean breakdown below 100,700 could signal further weakness and possibly a move towards the 96,000 zone,” the analysts said.

Pullback in motion, trend still intact.#Bitcoin rejected near ATHs, but the uptrend remains strong unless $96K breaks. 

Are the bulls still in control?

BTC breakdown: https://t.co/u19sZU8ICB
Trade the action: https://t.co/IDZGPpb8cq#PrimeXBT $BTC pic.twitter.com/zUEyjkJi3G

— PrimeXBT (@PrimeXBT) June 2, 2025 Why is Crypto Up Today: Strategic Diversification Tool, Not High-Beta Asset

According to James Toledano, Chief Operating Officer at Unity Wallet, digital assets are not immune to macro shocks, but investors increasingly see BTC as a hedge against macroeconomic turmoil.

Bitcoin “may initially echo” the response to the US President Donald Trump’s announcement of a “reciprocal tariff” strategy in April. The coin plunged 7% before stabilizing.

Investor behavior data for $BTC shows a drop in Momentum Buyers (RSI ↓ to ~20) alongside a sharp rise in Profit Takers (RSI ↑ to ~77) around May 28.
This trend often shows near local tops, as traders begin locking in gains instead of building exposure: https://t.co/vHqbU4gTZV pic.twitter.com/TBpUb95xm1

— glassnode (@glassnode) June 2, 2025

However, Bitcoin’s drawdown during previous tariff episodes was “relatively contained compared to broader asset classes.” Per the COO, traders are “increasingly interpreting such tariffs more as negotiation tools than enduring economic policy, tempering the shock factor.”

“Tariffs may intensify volatility, but Bitcoin is increasingly positioned as a strategic diversification tool rather than a high-beta asset.”

Moreover, compared to April, Toledano argues, “today’s market reflects more disciplined investor behavior and stronger institutional foundations.” He noted that there are clear signs of a move towards alternative assets. Global equities declined, US Treasury yields climbed, the Bloomberg Dollar Spot Index dropped for a fifth consecutive month, the dollar weakened, Brent crude approached $65 per barrel, and gold rose nearly 2%.

Therefore, “capital seems to rotate toward decentralized stores of value. Bitcoin’s ability to hold ground in this environment points to its growing maturity and acceptance as a strategic store-of-value asset — especially amid the erosion of confidence in fiat-backed instruments and geopolitical uncertainty,” Toledano argues.

Though lower than the prior week, last week's inflow of 6,148 $BTC into US spot ETFs marks the 7th consecutive week of net inflows – highlighting consistent demand despite cooling momentum. pic.twitter.com/77P6mQx8nR

— glassnode (@glassnode) June 2, 2025

Alexei Zamyatin, Co-Founder of Layer 2 BOB, added that institutional adoption of Bitcoin is accelerating. However, institutions are not just accumulating the coin but are looking to put it to work as well

“The US’s plan to acquire 1 million BTC over five years reinforces Bitcoin’s role as a financial asset,” Zamyatin says. “This recognition will drive demand for yield-generating Bitcoin products, making DeFi the natural next step. With governments and institutions now actively driving Bitcoin’s future, Bitcoin DeFi is positioned to scale faster than before.”

Levels & Events to Watch Next

BTC currently trades at $105,224. This is down from the intraday high of $106,415. Compared to its all-time high of $111,814, the coin is down 5.9%. It decreased by 4% in a week and rose by 9.6% in a month.

Bitcoin Price Chart. Source: Tradingview

Per PrimeXBT, the key level to monitor is $107,000, which aligns with the previous ATH support zone. If price fails to hold above this area, the next key support is around $95,000-$96,000,

A pullback at the first support level “should not be seen as a concern from a high time frame perspective. Bitcoin remains in a clear uptrend, and overall market structure suggests strength.”

Source: PrimeXBT

Moreover, the Fear and Greed Index went up slightly within the neutral territory. It’s up from 57 yesterday to 58 today. This indicates caution in the market, standing between fear and greed, likely waiting for additional signals to make the next move.

Source: CoinMarketCap

Meanwhile, on 2 June, US BTC spot exchange-traded funds (ETFs) saw another net outflow, this time of $267.52 million. Bitwise is the only one with inflows today, recording $3.41 million. On the other hand, US ETH spot ETFs continue the inflows streak, gaining $78.17 million on 2 June. BlackRock and Fidelity saw net inflows of $48.4 million and $29.78 million, respectively.

Source: SoSoValue

Notably, there are some relevant regulatory developments to keep an eye on globally. This includes the South Korean presidential election, as well as the stablecoin bill passage in the US. Currently, the crypto industry groups are urging US lawmakers to advance the GENIUS bill as it heads to the Senate debate this week.

All three major presidential hopefuls in South Korea have endorsed allowing Bitcoin ETFs and institutional crypto investment ahead of the 3 June vote, marking a potential policy shift. #BitcoinETF #Crypto @cryptoquant_com @YonhapNews https://t.co/63NbHMsIfe

— Cryptonews.com (@cryptonews) May 14, 2025 Quick FAQ

1. Why did crypto move with stocks today?

Both the crypto market and the stock market are up today, though it doesn’t appear they’ve risen in tandem. The S&P 500 has increased by 0.41%, the Nasdaq-100 is up 0.71%, and the Dow Jones Industrial Average rose by 0.084%. The stock market improved as it overcame repeated tariff threats by US President Donald Trump and trade tensions between the US and China.

2. Is this rally sustainable?

The market is still finding its footing within the consolidation period. While analysts do note that prices may decrease further, they don’t see a bearish reversal happening yet.

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