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Key Points
<ul>
<li>The crypto market rose 3.9% in 24 hours, reaching a market cap of $3.41 trillion.</li>
<li>Continued capital inflows into crypto investment products are bolstering sentiment.</li>
<li>The TOTAL chart shows a bull flag pattern targeting $4.36 trillion.</li>
</ul>
<p>Cryptocurrency markets advanced 3.9% in the last 24 hours, extending the total market capitalization to $3.41 trillion as of June 10.</p>
<p>Simultaneously, the 24-hour trading volume across the sector jumped 40% to $131.3 billion, signaling increased transactional activity and buyer engagement.</p>
<figure>
<img src="https://s3.cointelegraph.com/uploads/2025-06/01975904-030f-7e15-a97c-357094a2c670" alt="Crypto Market Performance Chart">
<figcaption style="text-align: center;"><em>Crypto Market Performance. Source: Coin360</em></figcaption>
</figure>
<h2>Drivers of Today's Rally</h2>
<h3>Capital Flows in Crypto Investment Products</h3>
<p>Escalating capital influx into crypto investment products is underpinning the current market confidence. According to CoinShares data, the sector recorded inflows of $224 million during the week ending June 6, marking the seventh consecutive week of inflows that total $11 billion. This reflects growing institutional adoption.</p>
<p>Notably, Ethereum led investment products with $296.4 million in funding during the same period. SoSoValue reported approximately $788.9 million in net inflows into US-based Ethereum spot ETFs since May 22, while Bitcoin spot ETFs saw inflows of $386.2 million on June 10.</p>
<figure>
<img src="https://s3.cointelegraph.com/uploads/2025-06/01975904-0c6f-7036-8485-5c078c7e8fd3" alt="Spot Ethereum ETF Flows Table">
<figcaption style="text-align: center;"><em>US Spot ETF Flows. Source: SoSoValue</em></figcaption>
</figure>
<h3>Widespread Short Liquidations</h3>
<p>The rally is further amplified by an intensifying short squeeze triggered by forced liquidations of bearish positions. Since June 10, more than $451 million in leveraged positions were liquidated, including $391 million worth of short positions and $195.8 million of Bitcoin short positions.</p>
<p>The most significant single liquidation occurred on HTX with approximately $4.06 million of ETH/USDT short positions. In-kind liquidations today mirror recent instances that saw a $230 billion market cap increase alongside similar short position liquidations.</p>
<figure>
<img src="https://s3.cointelegraph.com/uploads/2025-06/01975904-10e3-7459-8d36-20630a90d9be" alt="Crypto Liquidations Chart">
<figcaption style="text-align: center;"><em>Crypto Liquidations. Source: CoinGlass</em></figcaption>
</figure>
<h2>Technical Market Structure Strengthens</h2>
<p>The technical analysis of the TOTAL market indicator confirms a "bull flag" formation, with price action breaching the pattern's upper boundary earlier on June 8. Current testing occurs near the psychological $3.5 trillion mark.</p>
<p>A sustained move above this threshold could direct momentum toward the technical target of $4.36 trillion, representing a potential 30% appreciation from current levels. Supporting technicals include an RSI at 59 (showing increasing upward momentum) and a recent "golden cross" – an alignment where the 50-day SMA surpassed the 200-day SMA on June 6.</p>
<figure>
<img src="https://s3.cointelegraph.com/uploads/2025-06/01975904-159a-7ece-96f9-5315270a6291" alt="Technical Chart: TOTAL">
<figcaption style="text-align: center;"><em>TOTAL/USD Chart. Source: TradingView</em></figcaption>
</figure>
<p class="post-content__disclaimer">*** THIS IS NOT INVESTMENT ADVICE OR A PREDICTION ***<br>
<em>Engaging in crypto markets involves substantial risk. The views expressed here are solely the writer's and subject to change. Extensive personal research (DYOR) and risk management remain paramount before making any financial decisions.</em></p>
