In This Article
- $800 Million In Liquidations Over The Past 24-Hours - Ethereum Leading The Way
- Tariff Deadlines Looming, Causing Fear In The Stock Market And Bleeding Into Crypto
- Reasons To Be Bullish? There Are Too Many To List
- BONUS: TOKEN6900 (T6900) Could Be The Perfect Summer Play With Over $1M In Presale Investment Secured
Investors are wondering, ‘Why is crypto down today?’ as Bitcoin slides 1% overnight, while Solana and Ethereum fall further, 8% and 3.5% respectively. As a result, the combined crypto market cap is down 7% on the day, slipping to $3.9 trillion.
Currently, the only cryptocurrency in the top 100 to post a gain today is Curve Finance (CRV), with a modest 0.5% increase, while every other non-stablecoin token has posted a loss.
(SOURCE)
$800 Million In Liquidations Over The Past 24-Hours – Ethereum Leading The Way
With the heightened volatility in the crypto market over the past few days, both bulls and bears have been suffering, resulting in $803 million in liquidations across both long and short positions in the past day.
The heatmap from CoinGlass shows that, of the $836 million in liquidations over the past 24 hours, ETH, XRP, BTC, SOL, and DOGE accounted for the largest individual losses, totaling approximately $430 million of the entire liquidation figure.
Interestingly, the majority of liquidations occurred on long positions, accounting for approximately 86% of the total, compared to short liquidations. This means that bullish traders were caught off guard by the pullback across the crypto market. In contrast, those in short positions remained primarily in profit.
Binance accounted for a significant portion of the day’s liquidations, with $29 million wiped out across both long and short positions on the world’s largest crypto exchange.
(SOURCE)
DISCOVER: 9+ Best High-Risk, High–Reward Crypto to Buy in June 2026
Tariff Deadlines Looming, Causing Fear In The Stock Market And Bleeding Into Crypto
Today’s market pullback should be viewed as part of a healthy correction, as investors take profits and reallocate their risky positions ahead of the upcoming Summer holidays. However, it comes just days before a crucial tariff policy deadline on August 1st.
President Trump has finalized agreements with key trade partners including Japan, the UK, and Indonesia, and has negotiated a truce with China that lasts until August 12. However, negotiations with Canada, Mexico, Brazil, and the European Union remain uncertain as the deadline approaches.
While talks are ongoing with the EU and Canada, Brazil appears to be facing significant repercussions, as the US threatens to impose a 50% tariff rate on the country.
This uncertainty has impacted more than just cryptocurrency. After a historic run, the US stock market also showed mixed results today. Nvidia Corp. (NVDA) closed the day up 2.25%, while Google (GOOG) fell by 0.31%.
With the tariff deadline approaching and other major events, such as the upcoming FOMC meeting set for July 29-30, investors appear to be reassessing their exposure to riskier positions while maintaining their positions in established assets, like Bitcoin.
Reasons To Be Bullish? There Are Too Many To List
(SOURCE)
While some investors may be panicking at the recent pullback in crypto, it is worth taking a step back and looking at the big picture. Bitcoin is sitting at $117,600, just 4% away from yet another all-time high.
Net inflows on Ethereum ETFs have been positive for nearly a full month, with the last negative outflow day posted on June 27. This highlights the institutional demand for ETH, as companies like BlackRock and VanEck continue to purchase the second-largest digital asset in large quantities for their clients.
Federal Reserve FOMC meetings are scheduled to take place in early September, where many analysts expect a 25-basis-point rate cut to be announced, which would likely prompt investors to seek risk-on assets, such as Bitcoin and the broader crypto market.
Here are mine and @EricBalchunas' most recent odds on spot crypto ETF approvals by the end of 2025. We expect a wave of new ETFs in this second half of 2025. pic.twitter.com/H3pxJhqMy3
— James Seyffart (@JSeyff) June 30, 2025
Then there are the dozens of altcoin spot ETFs currently under review by the US Securities and Exchange Commission (SEC). According to Bloomberg analysts, Litecoin (LTC), Solana (SOL), and Ripple (XRP) all have a 95% chance of receiving spot ETF approval this year.
Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), Hedera (HBAR), and Avalanche (AVAX) are all sitting at 90% chance of receiving a spot ETF listing in 2025, with the usual suspects, Grayscale, Bitwise, 21Shares, VanEck, and others all seeking to launch their own altcoin spot ETFs.
These ETF approvals are expected at the end of 2025, meaning that once this period of volatility passes and investors return from Summer holidays, rate cuts, coupled with the potential launch of eight altcoin ETFs, could propel the crypto market into a parabolic period of the bull market.
BONUS: TOKEN6900 (T6900) Could Be The Perfect Summer Play With Over $1M In Presale Investment Secured
Token6900 (T6900) could emerge as the top meme coin option this summer with it not being subject to the ongoing volatility across crypto right now due to still being in presale stage. It has already raised $1 million of its $5 million hard cap during its ongoing presale.
This coin captures the essence of a SPX6900-style meme coin, focusing solely on memes, good vibes, and an enthusiastic community, elements that could potentially elevate T6900 to a similar level of success.
Token6900 is rapidly garnering the same level of attention that SPX6900 received during its early days, and it is cultivating an organic, cult-like community. This aspect is crucial for any meme coin aspiring to reach a market capitalization of $1 billion.
For context, SPX6900 experienced a staggering surge of over 1,400 times from its all-time low to its all-time high in June, serving as a compelling reminder of the power that memes can have. Now, TOKEN6900 is poised to take this particular meme to the next level.
The theme of T6900 is “Peak Brain Rot,” which resonates with Gen-Z traders who are increasingly dominating the market. With their five-second attention spans and affinity for the most absurd, niche memes, these attributes align perfectly with the holders of TOKEN6900.
🚨 Token6900 is now live in Best Wallet! 🚨@Token_6900 is a meme coin born to outpace TradFi — loud, fast, and built for the culture.
📲 Download the Best Wallet app
🔍 Check out $T6900 in the Upcoming Tokens tabJoin now! 👉 https://t.co/mV4V8pg1Ei pic.twitter.com/rE7dDV3oQL
— Best Wallet (@BestWalletHQ) June 30, 2025
This is a project that proudly trades on collective delusion, refusing to pretend to be anything more than a meme, similar to the HarryPotterObamaSonic10Inu (BITCOIN) and SPX6900 meme coins, which peak brain rot resonates with this latest generation of crypto degens.
Head to the TOKEN6900 site to claim your T6900 tokens before the presale reaches its $5 million hard cap, which will automatically end the presale.
Connect a self-custodial wallet, such as Best Wallet, and purchase with cryptocurrency, or use a bank card for payment.
Join the degen community on X or Instagram for maximum vibes.
EXPLORE: Best Meme Coin ICOs to Invest in June
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