Although BTC later recovered above $104,000, the asset remains highly volatile. At the time of writing, bitcoin is attempting to consolidate above the $104,000 threshold.
BTC/USDT price action, Binance, June 2025. Source TradingView.Every top-10 digital asset by market capitalization suffered significant losses during the selloff. Notably, Solana (SOL) experienced the steepest decline among major cryptocurrencies, with a 9.71% drop over the same period.
Top-10 cryptoassets by market cap (CryptoRank, June 2025) Source CryptoRank.The market rout led to an explosive surge in futures contract liquidations. According to CoinGlass, total liquidations in crypto derivatives exceeded $1.1 billion within 24 hours, with long positions bearing the brunt of the losses as traders were forced to exit highly leveraged bets.
Futures liquidations on crypto markets, June 13, 2025 (CoinGlass) Source CoinGlass.Despite the selloff, bitcoin’s dominance index—the share of BTC in the total crypto market cap—rose by approximately 1% over the day, reaching 63.84%. This signals investors’ tendency to rotate capital into bitcoin as a perceived safe haven during periods of acute market stress.
BTC dominance index, TradingView, June 2025 Source TradingView.Earlier this week, on June 11, the US Department of Labor released updated inflation figures for May. At that time, bitcoin saw a muted positive reaction, briefly climbing to $110,000 before renewed geopolitical risks took center stage.