Bitcoin surpasses $110,000: towards a new all-time high?
Welcome to the Daily Tribune for Tuesday, June 10, 2025 ☕️
Hello Cointribe! 🚀
Today is Tuesday, June 10, 2025 and as every Tuesday to Saturday, we summarize the last 24 hours of news you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
☀️ Sunny
24h crypto recap! ⏱
🧰 Strategy invests $110M to acquire 1,045 new bitcoins
Strategy bought 1,045 BTC for 110.2 million dollars, bringing its total to 582,000 BTC, at an average price of $105,426.
The operation was financed by a preferred stock issue.
🧪 Michael Saylor dismisses fears around quantum computing
Michael Saylor stated that quantum threats to Bitcoin are marketing, not an imminent danger.
He claimed that Google and Microsoft will never develop a quantum computer capable of breaking encryption, because it would damage their own systems.
⚙️ Ethereum: The Pectra update benefits the network
The Pectra update doubled the capacity of the Ethereum blockchain without exploding fees, thanks to the addition of blobs per block.
Daily fees related to blobs fell from $16,000 to a few cents, network usage remains partially used (~67%).
🇦🇷 Milei cleared in the crypto‑Libra case
Javier Milei has been cleared of all administrative suspicion in the case related to his Libra cryptocurrency despite losses and an ongoing investigation.
The American investigation continues on the legal side, with questions about his management of crypto‑Libra.
Crypto of the day: Virtuals Protocol (VIRTUAL)
🧠Technology and innovation
Virtuals Protocol is a DeFi platform built on Ethereum, specializing in synthetic assets and tokenization. It allows the creation and exchange of “synthetics” — derivative financial instruments simulating the behavior of stocks, cryptos, or commodities — without exposing users to the underlying markets. The protocol stands out for its modular approach, decentralized governance, and sophisticated automated liquidity mechanisms.
💰 VIRTUAL Token – Utility and distribution
The VIRTUAL is the native token of Virtuals Protocol. It serves to:
Governance: participation in protocol decisions.
Reduced fees: incentives for active users.
Staking/liquidity: to secure the system and generate rewards.
The initial distribution included private sales, an airdrop for early users and reserves for the team and development, with vesting periods to align incentives.
📊 Market data (as of June 10, 2025)
Current price: $1.97 USD
24h change: +9.96 %
Market capitalization: ~1.29 billion $
CoinMarketCap rank: #63
Circulating supply: 654,768,341 VIRTUAL
24h trading volume: ~312 million $
Bitcoin under pressure after skimming $110,000
After a sudden rally that propelled Bitcoin beyond $110,000, the market saw a measured pullback, bringing the asset around $109,380 on May 29. This market breathing space occurs as investors digest recent gains in an environment marked by profit-taking and anticipation of crucial economic data in the United States.
A rapid ascent, followed by logical profit-taking
Bitcoin’s recent surge, fueled by inflows into ETFs and easing in global markets, pushed the cryptocurrency to touch its all-time high of $111,814. Likewise, crossing the $110,000 threshold triggered a wave of liquidations on short positions, mechanically fueling short-term upward momentum.
However, this overheating also led to market rebalancing. Many opportunistic investors chose to cash in part of their profits. Result: buy volumes eased, momentum indicators (such as RSI) began to level off, and stabilization around $109,000–$110,000 set in.
Moreover, market participants remain attentive to US macroeconomic data, especially upcoming inflation figures, likely to influence Federal Reserve monetary policy decisions — and thus global risk appetite, including in the crypto market.
A neutral short-term technical signal, but unchanged fundamentals
Technically, Bitcoin remains in a long-term bullish trend, but the recent rally amplitude required a pause. The $107,000 level now constitutes a key support to watch: holding above this level would support the hypothesis of a simple digestion phase.
Regarding fundamentals, nothing currently indicates a trend reversal:
Net inflows into Bitcoin ETFs remain positive over the rolling week;
The US regulatory environment is evolving more favorably (as evidenced by recent green lights given to Ethereum ETFs);
BTC supply continues to contract on exchanges, supporting the narrative of a structurally scarce asset.
Altcoins, for their part, show signs of restarting, with Ethereum and Solana benefiting from renewed institutional interest. This context could indicate the start of sector rotation, typical of mature phases of bullish rallies.
The current Bitcoin pullback below $110,000 does not question the underlying bullish dynamic. It constitutes a healthy technical consolidation, after a rapid rise fueled by liquidations and intense speculative inflows.
As long as intermediate supports hold and fundamentals remain supportive, the probability of a return to all-time highs remains intact.
