Why Is the Crypto Market Up Today? June 10 Rally Explained

The cryptocurrency market is experiencing a notable surge on June 10, with investor optimism rising amid growing institutional interest and strong bullish technical patterns.

Market Overview: Total Cap Surges 3.9%

The global crypto market cap jumped by approximately 3.9% over the past 24 hours, reaching $3.41 trillion. Daily trading volume also saw a massive 40% spike, hitting $131.3 billion, highlighting growing enthusiasm from both retail and institutional participants.

Key Highlights:

• Crypto market cap: $3.41 trillion (+3.9%)

• Daily volume: $131.3 billion (+40%)

• Bull flag breakout confirms rally continuation

• Massive short squeeze accelerates upside momentum

Let’s dive into the main factors fueling today’s crypto rally.

Crypto market performance May 22. Source: Coin360

Read More: Why Is the Crypto Market Down Today? Trump-Musk Feud, Liquidations & Weak Technicals Shake Investors

Institutional Inflows Keep Momentum Strong

The ongoing uptrend in crypto prices is largely supported by continued capital inflows into digital asset investment products.

• Over the past seven consecutive weeks, crypto funds have seen consistent inflows.

• For the week ending June 6, inflows totaled $224 million, bringing the 7-week total to $11 billion+.

• Ethereum (ETH) led the way, drawing in $296.4 million in weekly inflows, pushing its 7-week total to $1.5 billion.

This momentum reflects improving macroeconomic sentiment as investors await further direction from the U.S. Federal Reserve regarding inflation and interest rates.

Capital flows for crypto investment products. Source: CoinShares

At the same time, U.S.-based spot crypto ETFs are seeing strong demand:

• Spot Ethereum ETFs brought in $788.9 million from May 22 to June 9.

• On June 10 alone, Spot Bitcoin ETFs attracted $386.2 million.

These flows reinforce growing institutional confidence in crypto as a long-term asset class.

Read More: Why Is the Crypto Market Down Today?

Short Liquidations Trigger Price Explosion

A wave of short liquidations has also played a pivotal role in today’s price breakout.

• In the past 24 hours, more than $451 million in crypto positions were liquidated.

• Of that, $391 million were short positions—bets that prices would fall.

• Bitcoin short liquidations alone totaled $195.8 million, amplifying BTC’s upward momentum.

Notably, the largest single liquidation was an ETH/USDT position worth $4.06 million on HTX.

Spot Ethereum ETF flows table. Source: SoSoValue

This mirrors past liquidation events in May, where short squeezes fueled a $230 billion rise in total market cap, reinforcing the bullish structure.

Total Market Cap Forms Bull Flag Breakout

A strong technical breakout is also validating the bullish sentiment.

• The TOTAL crypto market cap chart (which includes all digital assets) broke above a key bull flag pattern on June 8.

• That breakout occurred at $3.25 trillion, confirming upward momentum.

• As of June 10, the market is testing a psychological resistance level near $3.5 trillion.

If this resistance is flipped into support, the next major target is $4.36 trillion, representing a potential 30% gain from current levels.

Total crypto liquidations. Source: CoinGlass

Other key bullish indicators:

• Relative Strength Index (RSI) is climbing, currently at 59, up from 44 in just five days.

• A golden cross—when the 50-day moving average crosses above the 200-day—occurred on June 6, signaling long-term bullish momentum.

TOTAL/USD daily chart. Source: TradingView

Final Thoughts: Market Primed for Next Leg Higher

Today’s crypto market surge is no accident. A combination of institutional inflows, massive short liquidations, and strong bullish technicals are setting the stage for what could be the next major leg up in the 2025 crypto cycle.

With Bitcoin hovering near $110,000, Ethereum regaining strength, and altcoins picking up momentum, the overall sentiment is turning increasingly positive.

Investors are closely watching the charts and ETF flows—if these trends continue, the crypto market could be gearing up for a move toward new all-time highs.