It was another significant week from a global geopolitical standpoint that, expectedly, impacted the ever-volatile cryptocurrency market.

The main focus in the past several days was the US-China trade deal, which finally saw a positive breakthrough at the start of the week when the two superpowers met in London to discuss terms. Just a few days later, the POTUS announced on his social media platform that the delegates had reached an agreement that needed to be signed by him and Chinese President Xi Jinping.

These developments influenced BTCs price to a large extent as the asset started the business week at around $105,500 but quickly started to gain traction as the events progressed. By Tuesday morning, the cryptocurrency knocked on the $110,500 door, but it was shut in its face.

The scenario repeated a few more times by Wednesday, when Trump said the US is happy with the terms, and the nations CPI numbers for May went live, which were slightly better than anticipated. However, bitcoin couldnt resume its run and started to nosedive.

The landscape worsened on Friday morning when Israel hit several Iranian military targets, claiming to have killed numerous high-level generals and nuclear scientists. Trump said he gave Iran chance after chance to sign the nuclear deal, and he urged the local authorities to do so before theres nothing left.

Alicia BakeryCMO - A really good agencyDid you like this market update?

This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! As the dust is currently settling, BTCs price managed to recover some ground since the early morning low of under $103,000 and now stands around $105,000. This puts it actually slightly in the green on a weekly scale, but nothing compared to the massive gains registered by HYPE. The high-flyer notched a 15.5% weekly surge and even tapped a new all-time high above $42 earlier this week.

The other big gainers on a weekly scale include UNI, AAVE, and BCH, while SOL, SUI, TON, SHIB, ADA, DOGE, and TRX are in the red.

Market Data

Weekly Market Overview: Source: QuantifyCrypto Market Cap: $3.382T | 24H Vol: $173B | BTC Dominance: 61.6%

BTC: $104,800 (+1%) | ETH: $2,540 (+2.8%) | XRP: $2.15 (-0.06%)

This Week’s Crypto Headlines You Can’t Miss

Institutional Appetite Grows as Bitcoin ETFs Rebound with $1.07B in 4 Days. The spot Bitcoin ETFs had a rough start to June, but the trend changed once again as the current business week progressed. In the span of just a few days, they managed to attract over a billion dollars in net inflows, led by BlackRocks IBIT.

BlackRock’s IBIT Becomes Fastest ETF to Hit $70B AUM as Flows Turn Positive. Speaking of the worlds largest Bitcoin ETF, it broke another record this week as it became the fastest exchange-traded fund to hit $70 billion in AUM in less than 18 months after its launch last January.

Spot Ethereum ETFs Outshine Bitcoin with $240M Daily Flow. While we are on the subject of ETFs, lets take a look at one of the impressive daily performances by the Ethereum counterparts. After registering a massive 18-day positive inflows streak, the ETH ETFs managed to outpace the BTC products on June 11 by capturing over $240 million in net daily inflows.

Ripple’s XRP Ledger Welcomes the World’s Second-Biggest Stablecoin. Circles USDC officially launched on Ripples layer-1 network the XRP Ledger. As a result, the second-largest stablecoin is now available on 22 blockchains.

Michael Saylor’s Strategy Buys $110 Million Worth of Bitcoin. Lets rewind to Monday when Saylors Bitcoin-focused brainchild announced another acquisition, worth roughly $110 million. Consequently, the companys stash has shot up to precisely 582,000 BTC, purchased for $40.79 billion.

Mercurity Fintech to Raise $800M for Strategic Bitcoin Treasury Reserve. Theres a growing trend among large corporations to accumulate more and more BTC. After Metaplanet and GameStop joined Strategy, Mercurity Finance outlined plans to raise $800 million for its own strategic Bitcoin treasury reserve.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hype, and Solana – click here for the complete price analysis.

SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.