Bitcoin (BTC) rebounded above $110,000 on June 9, regaining ground lost in last week’s selloff as investors rotated back into digital assets on the back of strong ETF inflows, easing macroeconomic tensions, and renewed optimism across risk markets.
The world’s largest crypto reached an intraday high of $110,653 from a daily low of $105,426 earlier in the day during Asia and UK trading sessions. As of press time, Bitcoin was trading at $110,200, up 4.10% over the past 24 hours.
The sharp climb comes amid strong demand from institutional and corporate buyers, especially via spot Bitcoin ETFs, as a key driver behind the move. Additionally, easing geopolitical tensions between the US and China, as well as momentum on a US Bitcoin reserve renewed optimism in the market.
Spot exchange-traded crypto funds issued by BlackRock, Fidelity, and other major US firms have collectively seen over $11 billion in inflows over the past seven weeks, solidifying Bitcoin’s inclusion into traditional financial portfolios.
On-chain data shows that BTC reserves on centralized exchanges continue to decline, suggesting reduced selling pressure even as prices rise. The latest move may also restore investor confidence after the asset failed to hold above $108,000 in earlier sessions this week.
Bitcoin’s rally also coincides with fresh accumulation from high-profile firms. Strategy confirmed a recent purchase of 1,045 BTC between June 2 and June 6. Meanwhile, corporate interest in adopting Bitcoin as a treasury asset is continuing to gain steam and filings are picking up pace in recent weeks.
While volatility remains elevated, the $110,000 breakout could set the stage for a push toward $115,000 and eventually $120,000 if macro conditions remain favorable, which would put BTC in line with Standard Chartered’s projections for the second quarter.
The wider crypto market also showed strength despite trading far from its all-time highs. Ethereum (ETH) was up nearly 6% to $2,660, while Solana (SOL) climbed 4% to $159 as of press time.
Meanwhile, BNB and XRP were up 2% and 2.53%, respectively, while Dogecoin (DOGE) and Sui were roughly 6% each over the past day.
Despite growing optimism, sharp reversals remain possible in the event of ETF outflows or renewed macro pressure stemming from geopolitical risks.
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