Bitcoin, Bonk & Crypto – European Wrap 7 June

Cryptocurrencies have been in a buoyant mood lately, supported by a wide range of factors. Bitcoin has capitalised on growing institutional demand, with the 11 US spot-Bitcoin ETFs recording 18 consecutive days of net inflows on Thursday. Meanwhile, more and more countries are joining the spot-Bitcoin ETF party as Australia and Thailand recently greenlighted such applications.

Bonk (BONK) price crashed 30% from its recent peak and is gravitating towards a critical support zone. This correction presents a potential buying opportunity for investors anticipating a rebound and subsequent upward trend continuation for the meme coin. 


The crypto market capitalisation remained almost unchanged overnight at $2.63 trillion, showing a sharp decline in volatility. Bitcoin settled near the $71K level (+0.2%), while Ethereum settled near $3800 (-0.9 %). Prices of top altcoins changed between -1.2 % (Avalanche) and +2.7% (Toncoin).