Crypto Price Analysis 6-16: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, DOGECOIN: DOGE, FILECOIN: FIL

The crypto market cap has risen nearly 1%, driven by substantial price movements by prominent altcoins, even as Bitcoin (BTC) hovers around $105,000-$106,000, managing only a marginal increase over the weekend. The flagship cryptocurrency has risen marginally over the past 24 hours and trades around $106,020. Meanwhile, Ethereum (ETH) continued to trade sideways over the weekend, hovering around $2,500. However, price action picked up early on Monday, with ETH trading around $2,578, up nearly 2% over the past 24 hours. Ripple (XRP) is up over 1%, trading around $2.18, while Solana (SOL) has surged over 7% in the past 24 hours to reclaim $150 and settle at $156. However, Dogecoin (DOGE) bucked the bullish trend, with the price marginally down. Cardano (ADA) , Chainlink (LINK) , Stellar (XLM) , Toncoin (TON) , Litecoin (LTC) , Hedera (HBAR) , and Polkadot (DOT) also registered notable increases. Vietnam Legalizes Crypto Under New Law Vietnam’s National Assembly has approved the Law on Digital Technology Industry, effectively bringing digital assets under regulatory oversight. The legislation will come into effect January 1, 2026, and lays the groundwork for broader digital innovation across the country. It clarifies digital assets into two categories: virtual assets and crypto assets. Both asset types require encryption or digital technologies for validation and transfers. However, neither includes securities, digital fiat currencies, or other financial instruments. The government must outline specific business conditions, classifications, and oversight mechanisms for the asset types. The new law also mandates cybersecurity and anti-money laundering safeguards in line with international requirements, likely to address concerns raised by the Financial Action Task Force (FATF). The legislation also outlines Vietnam’s ambitions to become a global tech and digital powerhouse. It introduces incentives for companies working on AI, semiconductors, and digital infrastructure. These incentives include tax breaks, land-use benefits, and R&D support, particularly for firms building core technologies like chip design and AI data centers. The Vietnamese government released a statement saying, “With this move, Viet Nam has become the first country in the world to enact a standalone law specifically dedicated to the digital technology industry.” Michael Saylor Indicates Imminent Bitcoin Purchase Strategy co-founder and executive chairman Michael Saylor has suggested a Bitcoin (BTC) purchase may be imminent. Saylor posted the Bitcoin chart that typically indicates the company is about to make a big BTC purchase. The move comes despite mounting geopolitical tensions and an escalating conflict between Israel and Iran. Saylor posted the chart signaling an impending purchase with the following quote, “Bigger Dots are ₿etter.” Strategy currently holds 582,000 BTC, making it the largest corporate holder of the asset. Saylor’s intention to make another BTC purchase indicates growing investor confidence in the asset. The asset’s price has held steady at around $105,000 despite worsening market sentiment, suggesting strong support at lower levels. However, price action could be impacted if the conflict escalates and impacts energy prices. Invesco, Galaxy Register Solana ETF Trust Invesco and Galaxy Digital have confirmed the registration of a trust in Delaware for the proposed Solana ETF. The move marks the first steps towards launching a Solana ETF in the United States. However, the registration does not guarantee a listing or approval. The ETF structure mirrors filings by VanEck, 21Shares, Bitwise, and others in recent months as asset managers expand to crypto ETFs beyond BTC and ETH. Delaware security trusts are generally used for commodity and digital asset funds. The registration sets the stage for an eventual S-1 filing with the Securities and Exchange Commission (SEC) and a 19b-4 submission through a national exchange. A Solana ETF would give investors access to the fifth-largest cryptocurrency in the market without the complexities of managing a private wallet. Crypto Fear & Greed Index Stays In Greed Territory The Crypto Fear & Greed Index, which tracks the overall sentiment in the crypto market, remained in “greed” despite rising geopolitical tensions and an escalation in the Iran-Israel conflict. The index registered a score of 60 on Sunday, maintaining its position in the greed territory despite BTC declining to $103,000 over the weekend. The update came after Israel launched strikes on Tehran, with Iran reportedly retaliating on Friday. While maintaining its position in the “greed” territory, the index has declined from 71 on Thursday. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has started the week positively, with the price up over 1% during the ongoing session. The flagship cryptocurrency reclaimed $106,000 during the current session after a sluggish weekend during which BTC struggled to maintain its position above $105,000. BTC has traded mostly in the red since Thursday as it lost momentum after crossing $110,000. Despite sluggishness and bearish sentiment, BTC has maintained its position above $105,000, suggesting that traders are buying the dip. However, some analysts believe BTC will see a notable drop due to escalating tensions in the Middle East. With the prospect of a regional war increasing, BTC and other cryptocurrencies are feeling the pressure. The flagship cryptocurrency registered a sharp decline on Friday and remained in bearish territory over the weekend as buyers struggled to gain a foothold. Meanwhile, crude oil prices rose over 14%, and gold rose nearly 2%, a typical trend during Middle East tensions. However, analysts expect BTC and the broader crypto market to bounce back after a decline. Marcin Kazmierczak, co-founder, and chief operating officer at RedStone, stated that the attack and market sell-off caught traders off-guard, highlighting significant liquidations across Bitcoin futures. “Bitcoin dropped as much as 5% to $102,900, falling below the psychologically important $103,000 level. Ethereum shed even more, declining almost 7.6% at its worst point.” However, he highlighted that similar incidents in the past were followed by strong rebounds, referring to a similar scenario in April 2024. “Those moments turned out to be great buying opportunities. However, the current situation carries higher stakes given Israel’s direct targeting of Iran’s nuclear program and vows to continue operations indefinitely.” Meanwhile, analysts at Bitunix have a different view and believe BTC will benefit from the conflict, with investors viewing it as a safe asset. An analyst explained in a note to investors, “The conflict between Israel and Iran has pushed up the demand for risk aversion, and short-term geopolitical conflict risk aversion capital may flow into the crypto asset market. If geopolitical conflicts continue to rise, we cannot rule out the possibility of Bitcoin challenging the $110,350 liquidity target.” However, traders and analysts are unanimous about a new all-time high, with many feeling BTC will surge to new highs after a consolidation phase. Popular trader Alan Tardigade stated on X, “Bitcoin is trending upward in an Ascending Broadening Wedge. This pattern has recently formed for weeks and is expected to reach $170k levels.” BTC’s price action turned bearish on Tuesday (June 3) when it fell 0.44% to $105,436. Sellers retained control on Wednesday as the price dropped almost 1%, slipping below $105,000 and settling at $104,752. Bearish sentiment intensified on Thursday as BTC fell 3%, slipping to a low of $100,424 before settling at $101,614. Bullish sentiment returned on Friday, with the price rising almost 3% to $104,378. Price action remained positive over the weekend as BTC rose 1.15% on Saturday and registered a marginal increase on Sunday to reclaim $105,000 and settle at $105,784. Source: TradingView BTC surged over 4% on Monday (June 10), racing past $110,000 and settling at $110,251. However, it lost momentum on Tuesday, falling to a low of $108,335 before reclaiming $110,000 and settling at $110,253. BTC fell 1.42% on Wednesday, settling at $108,687 as selling pressure returned. Bearish sentiment intensified on Thursday as the price fell nearly 3% to $105,828. BTC plunged to an intraday low of $102,832 on Friday as selling pressure intensified. However, it rebounded from this level to register a marginal increase and settle at $106,106. BTC was back in the red on Saturday, dropping 0.59% to $105,482 before registering a marginal rise on Sunday to settle at $105,562. The current session sees BTC up 1.41%, having reclaimed $107,000 and trading around $107,074. If buyers retain control, the price could reach $110,000. Ethereum (ETH) Price Analysis Ethereum (ETH) performed relatively better than BTC over the weekend, making a stronger recovery on Sunday despite registering a substantial decline on Friday and Saturday. The world’s second-largest cryptocurrency has reclaimed $2,600 during the ongoing session and currently trades around $2,627. Despite ETH’s recent price action, on-chain data shows that whales have been scooping up the asset while retail investors are cashing out. According to data from Santiment, ETH wallets holding between 1000 ETH and 100,000 ETH have added 1.49 million ETH over the past 30 days. “Over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders have taken profit.” Whales and sharks now hold 41.61 million ETH, nearly 27% of ETH’s current supply. ETH registered a sharp drop on Thursday (June 5), as it plunged over 7%, slipping below $2,500 and settling at $2,415. Despite overwhelming selling pressure, ETH recovered on Friday, rising nearly 3% and settling at $2,479. The price registered an increase of almost 2% on Saturday to reclaim $2,500 and settle at $2,525. However, it was back in bearish territory on Sunday, dropping 0.57% to end the weekend at $2,511. ETH started the previous week on a bullish note, surging nearly 7% to cross $2,600 and settle at $2,680. Buyers retained control on Tuesday as the price rose over 5% to cross $2,800 and settle at $2,816. Source: TradingView ETH raced to an intraday high of $2,878 on Wednesday as buyers attempted a move past $2,900. However, it lost momentum after reaching this level and fell 1.56%, slipping below $2,800 and settling at $2,772. Bearish sentiment intensified on Thursday as the price fell 4.57%, falling below $2,700 and settling at $2,645. ETH plunged to an intraday low of $2,441 before recovering to settle at $2,579, ultimately registering a decline of 2.49%. Sellers retained control on Saturday as the price fell almost 2% to $2,532. Despite the overwhelming selling pressure, ETH recovered on Sunday, registering an increase of nearly 1% and settling at $2,548. The current session sees ETH up over 3%, having reclaimed $2,600 and trading around $2,628. Solana (SOL) Price Analysis Solana (SOL) has surged over the past two sessions as positive sentiment around the asset skyrocketed after Invesco and Galaxy Digital registered a trust in Delaware for a proposed Solana ETF. The move marks the first step towards launching a Solana ETF in the United States. The ETF would expose investors to SOL without going through the complexities of managing a private wallet. SOL responded positively to the news, with the price registering a significant increase on Sunday and extending its gains during the ongoing session. SOL registered a substantial decline on Thursday (June 5) as it plunged nearly 6% and settled at $144, but not before falling to a low of $141. The price recovered on Friday, rising 2.47% and settling at $147. Bullish sentiment persisted over the weekend as SOL rose 1.51% on Saturday and 1.56% on Sunday to reclaim $150 and settle at $152. Buying pressure intensified on Monday as SOL surged nearly 6% to cross $160 and settle at $161. The price fell to an intraday low of $156 on Tuesday before recovering to register an increase of 2.44% and settle at $165. Source: TradingView SOL raced to an intraday high of $168 on Wednesday. However, it lost momentum after reaching this level and dropped 2.48% to $161. Bearish sentiment intensified on Thursday as SOL plunged over 5%, slipping below $160 and settling at $152. SOL plunged to an intraday low of $140 on Friday as selling pressure persisted. It rebounded from this level to settle at $148, ultimately registering a decline of 2.47%. Price action remained bearish on Saturday as SOL fell nearly 3% to $144. SOL recovered on Sunday, surging almost 6% to reclaim $150 and settle at $153. The current session sees the price up 2.44%, trading around $156. Buyers will look to build momentum and push SOL beyond $160. Ripple (XRP) Price Analysis Ripple (XRP) plunged nearly 5% on Thursday (June 5) to settle at $2.09. Despite the overwhelming selling pressure leading up to the weekend, the price recovered on Friday, rising over 3% and settling at $2.16. Price action remained positive over the weekend as XRP rose almost 1% on Saturday and surged over 4% on Sunday to cross $2.20 and settle at $2.26. Price action remained positive on Monday, rising over 2% and settling at $2.32. XRP lost momentum on Tuesday as it fell to an intraday low of $2.26 before settling at $2.30, ultimately registering a decline of 0.65%. Sellers retained control on Wednesday as the price fell 1.54% to $2.27. Source: TradingView Bearish sentiment intensified on Thursday as XRP plunged nearly 4%, slipping below $2.20 and settling at $2.19. XRP fell to an intraday low of $2.08 on Friday as selling pressure intensified. The price recovered from this level to settle at $2.14, ultimately registering a drop of almost 2%. XRP experienced volatility and selling pressure on Saturday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline. Buyers returned to the market on Sunday as the price registered an increase of 1.18% and moved to $2.16. The current session sees XRP up almost 2%, trading around $2.20. Dogecoin (DOGE) Price Analysis Dogecoin (DOGE) struggled to recover after declining substantially over the past few sessions. The popular memecoin has recovered during the ongoing session, up nearly 2%, but faces selling pressure as sellers attempt to lower the price. DOGE registered a sharp decline on Thursday, falling almost 9% to a low of $0.167 before settling at $0.171. Despite the overwhelming selling pressure, DOGE recovered on Friday, rising nearly 5% and settling at $0.179. Price action remained positive on Saturday as the price registered an increase of almost 3% and settled at $0.184. However, it lost momentum on Sunday, dropping 0.49% to end the weekend in the red. The price recovered on Monday, rising over 5% to cross $0.190 and settle at $0.194. Buyers retained control on Tuesday as DOGE registered an increase of 2.22% and settled at $0.198. Source: TradingView DOGE raced to an intraday high of $0.206 on Wednesday. However, it lost momentum after reaching this level and fell 2.52% to $0.193. Selling pressure intensified on Thursday as the price plunged over 6% and settled at $0.181. DOGE plunged to an intraday low of $0.170 on Friday. Despite the overwhelming bearish sentiment, it recovered to settle at $0.180, ultimately registering only a marginal decline. Price action remained bearish over the weekend as DOGE fell 1.22% on Saturday and almost 2% on Sunday to settle at $0.175. The current session sees DOGE up 1.48%, trading around $10.77. Filecoin (FIL) Price Analysis Like other altcoins, Filecoin (FIL) also registered a substantial decline on Thursday (June 5), falling over 7% and settling at $2.38. It recovered on Friday, rising 1.33% and settling at $2.41, but not before reaching an intraday high of $2.47. Bullish sentiment intensified on Saturday as FIL surged 4.51% to cross $2.50 and settle at $2.52. However, it was back in the red on Sunday, dropping 1.40% to end the weekend at $2.48. FIL started the previous week on a bullish note, surging nearly 5% and settling at $2.60. Buyers retained control on Tuesday as the price rose 4.60% to settle at $2.72. Source: TradingView FIL lost momentum on Wednesday and fell 1.09% to $2.69. Bearish sentiment intensified on Thursday as the price plunged nearly 7% and settled at $2.51. The price fell to an intraday low of $2.33 on Friday. It recovered from this level to reclaim $2.40 and settle at $2.46, ultimately registering a decline of almost 2%. Price action remained bearish over the weekend as FIL fell 1.40% on Saturday and 0.58% on Sunday to settle at $2.41. However, FIL has recovered during the ongoing session and is up over 3%, trading around $2.49. Buyers will look to retain momentum and push the price towards $3. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily