Crypto June 12: SpaceX IPO, BTC nears 64K

Global crypto market on June 12: SpaceX's historic IPO fuels risk appetite, Bitcoin approaches $64,000, while ETF outflows shrink

On Friday, June 12, the crypto market accelerated its rebound, driven this time by three forces at once: falling oil prices after U.S. President Donald Trump claimed the war in Iran had ended, a massive short squeeze, and SpaceX's historic Nasdaq debut. Bitcoin approached the $64,000 mark, almost all large-cap altcoins turned green, and the day's central event at the crypto interface was SpaceX's first trading day, which turned into a market-scale risk event across every crypto-linked trading venue.

Market overview

The day's mood was set by a broader return-to-risk wave. After Trump's Thursday claim that the war in Iran had ended, everything moved up - from stocks and silver to cryptocurrencies. Brent crude slid, easing one of the main inflation drivers that had pushed the ECB to raise rates earlier in the week. Investors should remain cautious, however: dozens of headlines over the past month have promised peace without result.

The crypto market responded convincingly. Bitcoin rose about 2.5% over 24 hours to roughly $63,962 and returned to the decisive $63,000-$65,000 zone that had previously rejected rebounds. Ethereum climbed 2.3% to about $1,674 but still stayed below the psychologically important $1,700 level. BNB held above $600, XRP stopped lagging, Solana led large-cap strength with a 4.2% gain, and Hyperliquid rebounded nearly 9% after several weak sessions.

Liquidations continued to cool: about $289.70 million over 24 hours, less than Thursday. This time the picture flipped in favor of the bulls - short positions lost about $164.64 million versus roughly $125.06 million for longs. That means the rebound was partly driven by bears being forced to close positions as BTC, ETH, XRP, SOL and HYPE moved higher.

Sentiment gauges stayed extremely low. The Fear and Greed Index remained in the extreme fear zone (early June it fell to about 12 - one of the lowest readings in years), and although Friday's rebound may have nudged it slightly higher, market sentiment was still distinctly cautious. The recovery remains incomplete: ETF flows are still negative, ETH is below $1,700, and part of the gain came from short covering rather than fresh risk capital.

Top 15 coins on June 12

1. Bitcoin (BTC) ▲ ~$63,962 (+2.5% daily, +5.8% weekly)

Bitcoin returned close to $64,000 with about $30.93 billion in spot volume; market cap rose to roughly $1,280 billion. BTC now sits in the decisive $63,000-$65,000 resistance zone - a clean break above $65,000 would confirm the rebound has follow-through, while a rejection below $63,000 would keep the recovery fragile. Support is at $62,000-$63,000. BTC remains about 49% below its October record ($126,198).

2. Ethereum (ETH) ▲ ~$1,674 (+2.3% daily, +4.1% weekly)

Ethereum rose to about $1,674 with $12.54 billion in volume but stayed below the $1,700 level - the short-term recovery remains incomplete. Market cap around $202 billion. Until ETH reclaims the $1,700-$1,800 zone, the move counts as a relief bounce rather than a confirmed turn.

3. Tether (USDT) ◆ ~$1.00 (stable)

USDT held its peg at about $0.9993, but daily volume surged to roughly $103.99 billion - sharply higher than recent sessions. Market cap around $186.8 billion. The volume jump signals that liquidity activity revived quickly during the rebound.

4. BNB ▲ ~$608 (+1.8% daily, +5.2% weekly)

BNB held convincingly above $600 with a market cap around $82.0 billion. The Binance ecosystem token continues to hold up markedly better than most large altcoins on a weekly basis.

5. USDC ◆ ~$1.00 (stable)

Circle's USDC held its peg at about $0.9998 with roughly $14.49 billion in volume and a $74.8 billion market cap, continuing to serve as the secondary liquidity channel - active, but without USDT's volume spike.

6. XRP ▲ ~$1.14 (+2.7% daily, +3.2% weekly)

XRP was the day's clearest change: after lagging in the previous session, it rose 2.7% and returned to about $1.14, moving away from $1.10 support and its new 2026 low. Market cap around $70.4 billion. The next targets are $1.17-$1.20.

7. Solana (SOL) ▲ ~$68.0 (+4.2% daily, +3.9% weekly)

Solana led the large-cap rebound with a 4.2% gain to about $68 and $3.06 billion in volume; market cap around $39.4 billion. The higher-beta asset confirmed that risk appetite is returning, but SOL still needs to clear $70 resistance.

8. TRON (TRX) ◆ ~$0.32 (roughly stable)

TRX held at about $0.32; market cap around $30 billion. The network, with its large share of stablecoin settlement, remains one of the most resilient large coins even through this volatile stretch.

9. Figure Heloc (FIGR_HELOC) ◆ ~$1.03 (-0.3% daily, +1.2% weekly)

The tokenized-credit instrument held steady at about $1.03 with a $19.4 billion market cap, again confirming that the real-world-asset (RWA) segment lives by its own logic, less tied to the crypto cycle.

10. Dogecoin (DOGE) ▲ ~$0.089 (+4.9% daily, +8.8% weekly)

DOGE rebounded to about $0.0887 with $1.33 billion in volume; market cap around $13.7 billion. The largest meme coin was one of the week's strongest large coins, signaling a return of meme-coin leverage.

11. Hyperliquid (HYPE) ▲ ~$61.4 (+9.1% daily, +2.7% weekly)

HYPE was the day's brightest rebound among large tokens - about $61.4 with $905.9 million in volume after several weak sessions. The token recovered its weekly losses, but now needs to hold $60 support for the rebound to be durable.

12. Monero (XMR) ▲ ~$355

Monero continued to stand out in the privacy-coin segment with a market cap around $6.6 billion and tracked the broad uptrend on a risk-on day. Attention on privacy coins is growing as security researchers turn to auditing the segment (see the security section).

13. Zcash (ZEC) ◆ ~$420

Zcash kept one of the highest trading volumes in the privacy-coin segment but stayed below its spring rally highs after the Orchard vulnerability disclosure. Capital in privacy coins continues to rotate this week in favor of Monero.

14. Cardano (ADA) ▲ ~$0.17

ADA followed the broad rebound with a moderate gain but remains one of the weaker large altcoins on a weekly basis, still near multi-year lows.

15. Stellar (XLM) ▲ ~$0.19

XLM bounced slightly, following the broad market direction; the cross-border payments network keeps a steady spot at the bottom of the large coins.

Stablecoins

The stablecoin sector remained the market anchor, but with an important signal: USDT held its peg at about $0.9993 with a $186.8 billion market cap, while its daily volume surged to roughly $103.99 billion - sharply higher than recent sessions. That shows liquidity activity rose substantially during the rebound. USDC stayed at about $0.9998 with a $74.8 billion market cap and steady $14.49 billion in volume - secondary liquidity stayed active but without USDT's spike.

On the regulatory side, the GENIUS Act's July 18 deadline for stablecoin issuer requirements is approaching, and a sharp dispute over stablecoin holder rewards persists around the CLARITY Act in the Senate.

NFT market

The NFT market stayed near cycle lows, and Friday's Ethereum rally did little to improve the dollar value of collections. Structurally the segment continues to reorganize: gaming and utility NFTs make up an ever-larger share of trading volume in place of speculative collections. On a risk-appetite day, speculative demand was felt mostly in the small-token segment - the day's top gainers featured gaming tokens Yooldo Games (+105.3% on $65 million in volume) and Plasma (+42%), while large collections stayed quiet.

ETF flows

ETF flows remained the recovery's weak point, but the pressure eased noticeably. Spot Bitcoin ETFs (June 11 data) recorded about $19.03 million in net outflows - sharply less than the previous session's roughly $213.85 million. BlackRock's IBIT returned to positive with +$30.26 million and the Grayscale BTC mini fund with +$5.62 million, while Ark 21Shares ARKB lost $27.21 million, VanEck HODL $14.84 million, Bitwise BITB $13.12 million and Fidelity FBTC $5.54 million. Total Bitcoin ETF net assets are about $79.50 billion, or 6.26% of BTC's market cap.

Spot Ethereum ETFs also stayed negative: -$15.89 million (BlackRock ETHA +$8.63 million, Fidelity FETH -$20.53 million). Combined BTC and ETH ETF outflows reached about $34.9 million - many times less than Thursday's roughly $249 million. The overall picture remains cautious: price rebounded faster than fund flows, driven by short squeezes and spot buying rather than institutional inflows. That limits the rebound's durability until ETF data confirms a turn.

SpaceX IPO - a new risk catalyst

The day's biggest story was SpaceX's first trading day on Nasdaq under the ticker SPCX, which became a market-scale risk event. Reuters reported that SpaceX priced its IPO at $135 per share, raising about $75 billion by selling 555.56 million shares and valuing the company at $1.77 trillion before trading began - a record offering.

The event's echo strongly touched the crypto interface. SoSoValue's crypto-stock dashboard showed SPCX at about $171.08, or +26.61%, with roughly $56.19 billion in value traded - making SpaceX the largest mover on the crypto-stock board. The echo also appeared in derivatives: on CoinGlass's liquidation heatmap, SPCX showed about $12.64 million in liquidations - one of the larger non-BTC and non-ETH liquidation pockets. Coinbase had earlier launched SpaceX pre-IPO perpetual futures for non-U.S. users, while Binance Wallet's SpaceX IPO campaign drew about $557 million in investor interest.

The interpretation matters: SpaceX did not directly drive Bitcoin fundamentals, but it improved speculative risk appetite. In the same session BTC, ETH, XRP, SOL, DOGE and HYPE rose, while short liquidations exceeded longs - suggesting traders were forced to cover bearish positions as the broader tape turned risk-on.

Security incidents and crypto equities

In the privacy-coin segment, attention remains on the Zcash Orchard pool counterfeiting vulnerability - a critical bug present in the network since 2022 that earlier caused a nearly 38% price drop and an emergency patch. Security engineer Taylor Hornby, who uncovered the vulnerability using an AI model, confirmed he will audit Monero next - drawing heightened attention to the entire privacy-coin segment and partly explaining the capital rotation between ZEC and XMR.

On the crypto-linked equity side, the picture was selective but better than Thursday: miners led. IREN rose 6.81%, TeraWulf 3.73%, Hut 8 3.40% and Riot Platforms 2.52%. Strategy (MSTR) tracked Bitcoin's move higher with +2.28%, Robinhood added 0.96%. In the other direction, Coinbase (COIN) slipped 0.52% and stablecoin company Circle (CRCL) 4.12%. The miners' leadership suggests traders are willing to rotate back into higher-beta crypto equities as BTC stabilizes.

Regulatory news

In Washington, the CLARITY (Digital Asset Market Clarity) Act sits on the Senate legislative calendar, and intense debate continues around it. On June 9-10, the White House held a significant meeting in which law enforcement officials and legislators discussed provisions on developer protections. A full Senate vote requires 60 votes, and prediction markets (Polymarket, Kalshi) in early June put the likelihood of the act being signed in 2026 at roughly 56%, reducing the odds of passage before August. The clash of bank and crypto industry interests centers on stablecoin rewards and the risk of bank deposit outflows.

Macroeconomic context

Friday's rebound was driven mainly by a wave of geopolitical relief: after the U.S. president's claim that the war in Iran had ended, falling oil prices eased one of the main inflation drivers that had pushed the ECB to raise rates earlier in the week. This is a fragile catalyst - if a deal could be reached over the weekend, as the president indicated, there would be room for further crypto gains and recovery of some losses.

Structural headwinds remain, however. A tense central bank week lies ahead: the Bank of Japan is expected to raise its rate to 1% on June 16, while the U.S. Federal Reserve's FOMC meeting on June 16-17 will be Kevin Warsh's first - although a hold is widely expected, the market will watch the guidance tone closely. Capital rotation into large IPOs (like SpaceX) and AI assets continues to compete with crypto for investor capital. At the same time, valuation metrics stay near historically cheap levels, and institutional accumulation continues in the background. The picture remains a classic consolidation phase.

Key figures - June 12

• Bitcoin (BTC): ~$63,962, +2.5% daily, +5.8% weekly; market cap ~$1,280B; volume ~$30.93B; support $62,000-$63,000, resistance $65,000; ~49% below record
• Ethereum (ETH): ~$1,674, +2.3% daily, +4.1% weekly; market cap ~$202B; needs to reclaim $1,700
• XRP: ~$1.14, +2.7% daily, +3.2% weekly; stopped lagging, targets $1.17-$1.20
• Solana (SOL): ~$68.0, +4.2% daily, +3.9% weekly (led the large-cap rebound)
• BNB: ~$608, +1.8% daily, +5.2% weekly (held above $600)
• Hyperliquid (HYPE): ~$61.4, +9.1% daily, +2.7% weekly (day's brightest rebound)
• Dogecoin (DOGE): ~$0.089, +4.9% daily, +8.8% weekly
• Privacy coins: Monero ~$355, Zcash ~$420 - ZEC → XMR rotation continues
• Stablecoins: USDT ~$186.8B (volume surged to ~$103.99B), USDC ~$74.8B (volume ~$14.49B), both hold peg
• Liquidations: ~$289.70M (longs ~$125.06M, shorts ~$164.64M - short squeeze); BTC ~$71.92M, ETH ~$57.34M; largest Binance ETHUSDT ~$11.87M
• ETF (June 11 data): spot Bitcoin ETF -$19.03M (IBIT +$30.26M, ARKB -$27.21M); spot Ethereum ETF -$15.89M; combined ~$34.9M outflow (far less than Thursday's ~$249M)
• SpaceX IPO: price $135/share, raised ~$75B, valuation ~$1.77T; SPCX ~$171 (+26.61%), ~$56.19B traded; SPCX liquidations ~$12.64M
• Crypto equities: miners led (IREN +6.81%, TeraWulf +3.73%, Hut 8 +3.40%); MSTR +2.28%; COIN -0.52%; Circle -4.12%
• Macro: oil prices fell after Trump's claim of war ending in Iran; risk appetite up in stocks, silver, crypto
• Upcoming events: BoJ on June 16 (rate to 1%), FOMC on June 16-17 (Warsh's first meeting)
• Security: Zcash Orchard counterfeiting vulnerability (since 2022, ~38% drop, patched); researcher Hornby to audit Monero next
• Sentiment: Fear and Greed Index in extreme fear zone (~12 in early June)

AI disclaimer

This article was prepared with the help of artificial intelligence and human editorial oversight. All figures and facts were verified against publicly available sources at the time of writing. Price figures are based on market data aggregator snapshots and may vary slightly between sources and time zones. The cryptocurrency market is extremely volatile - prices can change significantly within hours. This material is informational and should not be considered financial advice, an investment recommendation, or a solicitation to buy or sell any assets. Always do your own research and consult a licensed financial advisor before making investment decisions.

Sources

• The Crypto Times - Crypto Market Today: SpaceX Steals Spotlight as BTC, ETH, XRP Rise: https://www.cryptotimes.io/2026/06/12/crypto-market-today-spacex-steals-spotlight-as-btc-eth-xrp-rise/
• Yahoo Finance - Bitcoin and ethereum prices today, Friday, June 12, 2026: https://finance.yahoo.com/personal-finance/investing/article/bitcoin-and-ethereum-prices-today-friday-june-12-2026-prices-rebound-this-morning-after-trump-claims-war-has-ended-115949042.html
• The Crypto Times - SpaceX IPO Goes Live on Crypto Exchanges: https://www.cryptotimes.io/2026/06/12/spacex-ipo-goes-live-on-crypto-exchanges-check-live-prices/
• The Crypto Times - Binance Wallet's SpaceX IPO Campaign Draws $557M: https://www.cryptotimes.io/2026/06/12/binance-wallets-spacex-ipo-campaign-draws-557m-as-investors-rush-for-exposure/