Crypto Market Today: SpaceX Steals Spotlight as BTC, ETH, XRP Rise

The crypto market extended its rebound on June 12 as Bitcoin moved close to $64,000, major altcoins turned green, and SpaceX’s blockbuster market debut added a fresh risk-on catalyst across crypto-linked trading venues.

Bitcoin traded at $63,962.40, up 2.5% in 24 hours, while Ethereum rose 2.3% to $1,673.95. BNB climbed 1.8%, XRP gained 2.7%, and Solana jumped 4.2%. Dogecoin and HYPE also rose sharply, showing that traders were rotating back into higher-beta assets.

But the day’s bigger story was not only crypto prices. SpaceX’s Nasdaq debut under the ticker SPCX became a major cross-market event. Reuters reported that SpaceX priced its IPO at $135 per share, raising $75 billion by selling 555.56 million shares and valuing the company at $1.77 trillion.

SpaceX Debut Adds Risk-On Fuel to Crypto Markets

SpaceX became one of the biggest risk catalysts for crypto markets on June 12 as its stock market debut crossed into tokenized equities, pre-IPO perpetuals and crypto-linked trading dashboards.

The company priced its IPO at $135 per share, raising $75 billion in what Reuters described as a record offering. The deal valued SpaceX at $1.77 trillion before trading began.

The CryptoTimes had earlier reported that Coinbase launched SpaceX pre-IPO perpetual futures for non-U.S. users, while Kraken, Bybit, Coinbase and Binance were part of the wider crypto rush around SpaceX-linked market access.

On June 12, that theme moved from pre-IPO positioning into live-market speculation. SoSoValue’s crypto-stock dashboard showed SPCX at $171.08, up 26.61%, with $56.19 billion in value traded. That made SpaceX the largest visible mover on the crypto-stock board.

The spillover also appeared in derivatives. CoinGlass liquidation data showed SPCX at $12.64 million on the liquidation heatmap, putting it among the larger non-BTC and non-ETH liquidation pockets of the day.

The interpretation is important: SpaceX did not directly drive Bitcoin fundamentals, but it improved speculative risk appetite. The same session saw BTC, ETH, XRP, SOL, DOGE and HYPE rise, while short liquidations exceeded long liquidations. That suggests traders were forced to cover bearish positioning as the broader tape turned risk-on.

Macro Update: Oil Slides as Risk Appetite Improves

Macro conditions were more supportive for risk assets on June 12. Reuters reported that global equities rose and oil prices fell as investors reacted to fresh hopes of a U.S.-Iran peace deal. The same report noted that U.S. crude fell 1.45% to $86.44 and Brent fell 1.32% to $89.19, after both contracts had touched multi-month lows earlier in the session.

A separate Reuters oil report said Brent futures were down 3.7% at $87.04 and WTI crude dropped 3.55% to $84.60 as U.S. and Iranian officials said they were close to an agreement to halt the war in the Middle East.

This mattered for crypto because oil had been one of the main macro pressure points earlier in June. Lower oil prices reduce near-term inflation pressure and can improve risk appetite across equities and crypto.

However, the macro backdrop is not fully clean. Reuters reported that U.S. producer prices rose 1.1% in May, above expectations, while weekly jobless claims increased to 229,000. The report said the data strengthened expectations that the Federal Reserve would keep rates unchanged into 2027 and drop its easing bias at the next meeting.

U.S. consumer sentiment also improved in June, rising to 48.9 from May’s 44.8, helped by lower gasoline prices. But Reuters noted that one-year inflation expectations remained high at 4.6%, while five-year expectations stood at 3.4%.

Macro Read

The macro read is therefore mixed but better than earlier in the week. Falling oil helped the crypto rebound, but sticky inflation still limits how bullish the market can get.

Crypto Price Data: Top Crypto Assets

Bitcoin’s move near $64,000 is important because BTC has now pushed back into the $63,000–$65,000 zone that rejected earlier rebounds.

Ethereum also improved, but ETH is still below the $1,700 level. That keeps the recovery incomplete for now. BNB looked relatively strong above $600, while Solana’s 4.2% gain showed a stronger high-beta rebound.

The clearest change was XRP. After lagging in the previous session, XRP gained 2.7% and moved back to $1.14. HYPE also recovered sharply, rising 9.1% after several weak sessions.

Top Crypto Gainers and Losers

Top Gainers

Top Losers

The gainer board showed stronger speculative demand than June 11. Yooldo Games more than doubled on $65 million in volume, while Plasma rose 42.2% with over $307 million in turnover.

That makes the altcoin rotation more meaningful than a low-liquidity pump. However, the loser board still showed sharp reversals, with DeepNode, Asteroid Shiba and OlaXBT all down more than 34%.

The read: risk appetite is improving, but smaller tokens remain highly unstable.

Crypto Liquidation Data: June 12, 2026

Liquidations cooled again, falling to $289.70 million. That is positive because it shows the market is moving away from the larger forced-selling sessions seen earlier in June.

The split is also important. Shorts lost $164.64 million, while longs lost $125.06 million. That means the June 12 rally was helped by bearish traders being forced out as BTC, ETH, XRP, SOL and HYPE moved higher.

This is better than a long-heavy flush, but it also means the rally still needs spot demand confirmation. A short squeeze can lift prices quickly, but it does not always create a durable trend.

Liquidation Timeframe Breakdown

The liquidation structure improved from the previous sessions. June 9 punished longs, June 10 and June 11 were mixed, and June 12 tilted against shorts.

That supports the idea that the market is trying to transition from defensive stabilization to a broader rebound. But the 12-hour data was nearly balanced, which means leverage is still active on both sides.

Asset Liquidation Breakdown

Bitcoin and Ethereum remained the main liquidation centers, but Solana, Dogecoin and HYPE-linked risk also became active again as altcoins rallied.

The appearance of SPCX on the liquidation map is notable because SpaceX-related market activity became a broader risk-appetite theme on June 12. Reuters reported that SpaceX’s market debut was in focus after the IPO raised $75 billion and valued the company at $1.77 trillion.

Exchange Liquidations: 4H Window

Binance led the 4-hour liquidation window with $48.30 million. Hyperliquid followed with $13.22 million, while Bybit recorded $10.22 million.

The exchange split confirms the short-squeeze angle. Shorts accounted for more than half of liquidations across Binance, Hyperliquid, Bybit, OKX and Bitget.

Crypto ETF Data: BTC and ETH ETFs Still See Outflows

US Bitcoin ETFs: Outflows Shrink to $19.03M

U.S. spot Bitcoin ETFs recorded $19.03 million in daily net outflows on June 11. Cumulative total net inflows stood at $53.54 billion, while total net assets were $79.50 billion, equal to 6.26% of Bitcoin’s market cap. Total value traded reached $2.09 billion.

The Bitcoin ETF picture improved but did not turn positive. Outflows shrank sharply to $19.03 million, compared with much larger outflows in the previous session.

IBIT returned to inflows with $30.26 million, which is constructive. But outflows from ARKB, HODL and BITB pulled the group into the red.

The interpretation: ETF pressure is easing, but it has not reversed. Bitcoin’s price rebound is ahead of the ETF flow recovery.

US Ethereum ETFs: ETH Funds Lose $15.89M

U.S. spot Ethereum ETFs recorded $15.89 million in daily net outflows on June 11. Cumulative net inflows stood at $11.19 billion, while total net assets were $9.24 billion, equal to 4.58% of Ethereum’s market cap. Total value traded reached $639.37 million.

Ethereum ETF outflows also narrowed, but the group remained negative. ETHA brought in $8.63 million, but Fidelity’s FETH lost $20.53 million.

ETH’s price gained 2.3% despite ETF outflows. That creates the same divergence seen in Bitcoin: price is improving faster than fund flows.

For ETH, the key level remains $1,700. Until ETH reclaims that zone, the ETF data does not confirm a durable recovery.

Crypto Stocks: Miners Rally, Coinbase Slips

This section excludes non-core crypto proxies such as Tesla, GameStop and SPCX, and focuses on crypto-linked equities, including exchanges, crypto treasuries, stablecoin companies, miners and digital asset firms.

Crypto equities showed a clearer rebound in miners than in exchanges. Cipher Mining jumped 10.21%, IREN rose 6.81%, Hut 8 gained 3.40%, TeraWulf added 3.73%, and Riot climbed 2.52%.

Strategy gained 2.28%, tracking Bitcoin’s move higher. Robinhood also rose 0.96%. Coinbase, however, slipped 0.52%, and Circle dropped 4.12%.

The equity read is selective but better than June 11. Miners are leading, which suggests traders are willing to rotate back into higher-beta crypto equities as BTC stabilizes.

Stablecoin and Liquidity Data

USDT volume jumped to $103.99 billion, much higher than recent sessions. This signals that liquidity activity has picked up sharply during the rebound.

That can mean two things. It can show stronger risk deployment as traders rotate back into crypto, but it can also reflect active repositioning during a volatile rebound.

USDC volume remained steady at $14.49 billion, showing that secondary stablecoin liquidity stayed active but did not spike like USDT.

Spot vs Derivatives Volume

The spot-versus-derivatives read is stronger than the previous session. Price is up, stablecoin turnover has risen, liquidations are lower, and shorts are taking more damage.

That supports a short-term rebound case. But ETF flows are still negative, and ETH has not reclaimed $1,700. That means the market is improving, but the recovery is not fully confirmed.

Market Technical Setup

Bitcoin is now testing the recovery zone that matters. A clean move above $65,000 would strengthen the bullish case, while a rejection below $63,000 would keep the rebound fragile.

Ethereum needs to reclaim $1,700 to confirm that the bounce is more than a relief move. XRP needs to hold $1.10 and move toward $1.17–$1.20. Solana has improved, but it still needs to break above $70.

HYPE’s rebound is encouraging, but it needs to hold above $60 after returning to $61.41.

Key Levels to Watch

Bitcoin’s immediate test is $65,000. Reclaiming that level would show that the rebound has follow-through. Failure there could bring BTC back toward $62,000–$63,000.

Ethereum must clear $1,700. Solana needs to hold above $65 and move toward $70. XRP’s key support remains $1.10, while HYPE must defend $60 after its sharp daily rebound.

Market Outlook

The June 12 crypto market looked stronger than June 11 because the rebound was supported by three forces: lower oil prices, short liquidations, and the SpaceX-driven risk-on wave.

Bitcoin moved close to $64,000, Ethereum and BNB rose, XRP stopped lagging, Solana led large caps, and HYPE rebounded sharply. At the same time, SPCX became a major speculative focus after SpaceX’s Nasdaq debut, with SoSoValue showing a 26.61% jump and CoinGlass showing SPCX-linked liquidations.

Still, the recovery is not fully confirmed. BTC and ETH ETFs remained in outflow, ETH stayed below $1,700, and part of the rally came from short covering. Bitcoin still needs to break above $65,000 before the market can shift from rebound to confirmed recovery.

Also Read: SpaceX Is Trading on Crypto Exchanges: Check Live Prices

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