The crypto market recovered on June 8 as Bitcoin and Ethereum bounced from last week's liquidation-driven selloff.
Crypto markets opened June 8 with a measured rebound as Bitcoin and Ethereum recovered from one of the sharpest weekly selloffs of the year.
Coingabbar reported that the total crypto market rose 2.7% over the past 24 hours on June 8, reaching about $2.25 trillion in market capitalization with roughly $91 billion in trading volume. Bitcoin was quoted near $62,871, up 2.28%, while Ethereum helped lead the broader bounce.
BusinessToday Malaysia also described Bitcoin and Ethereum as edging higher on June 8 after a brutal selloff. The rebound followed CoinDesk's June 5 live coverage showing Bitcoin briefly falling below $60,000 and more than $5.3 billion in leveraged long positions liquidated across crypto derivatives since Monday.
The move matters because it tests whether last week's leverage flush has created enough room for a near-term reset. A rebound after forced selling can calm markets, but it does not automatically rebuild spot demand, ETF confidence, or risk appetite.
The backdrop remains fragile. CoinDesk linked Friday's pressure to macro stress, weak technology stocks, and a stronger jobs report that kept rate-cut hopes under pressure. That means Bitcoin and Ethereum are still trading as liquidity-sensitive risk assets.
The next signal is whether Bitcoin can hold the low-$60,000 range while Ethereum stays above the levels reclaimed in the rebound. Traders will also watch ETF flow data, funding rates, and whether altcoin gains broaden beyond short-covering.
The June 8 bounce is constructive, but the market still needs follow-through before the rebound can be treated as more than stabilization after a forced deleveraging wave.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
Michael Saylor's Strategy reported a $14.46 billion unrealized loss on its bitcoin holdings in Q1 2026, then purchased another $330 million in BTC days later.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
