Bitcoin Holds Firm Above $104K as Altcoin Liquidations Climb

• Bitcoin stays above $104K as altcoin futures see sharp liquidation spikes.
• WIF, Virtual, and WLD rebound after intraday dips, signaling high market volatility.
• DeFi TVL holds steady at $201.63B despite leveraged market turbulence.

Bitcoin has retained its lead in the digital asset market, trading above $104,000 even as liquidations spike across multiple altcoins. As of June 7, 2025, data from Phoenix Group ranks the global crypto market capitalization at $3.28 trillion, supported by a 24-hour trading volume of $102.49 billion. A total of 33,598 digital assets are actively tracked, reflecting the continued growth and complexity of the cryptocurrency ecosystem.

Bitcoin (BTC) continues to anchor the market, currently valued at $104,984 and with a dominant market share of 63.7%. Ethereum (ETH), the second-largest asset by market cap, is trading at $2,489 and accounts for 9.2% of the total market. Ethereum’s network remains cost-efficient, with gas fees recorded at 1 GWEI, suggesting minimal transaction congestion and stable on-chain activity.

Investor sentiment remains balanced. The Fear and Greed Index sits at 54, placing the market in a neutral zone. Futures data indicates a slight preference toward long positions in BTC, with 50.07% of traders favoring upward momentum. On Binance, Bitcoin long contracts are higher at 50.45%, showing minimal deviation from the broader trend.

Altcoins Record Sharp Intraday Moves

Several altcoins experienced major price swings over the past 24 hours. WIF and Virtual both declined by 2.55% before rallying to gains of 11.01% and 10.31%, respectively. Worldcoin (WLD) recorded a recovery of 10.87% after an earlier dip of 0.35%. Sui (SUI) and FarcToin also showed minor retracements followed by modest rebounds.

These movements show heightened volatility in mid-cap assets, even as larger tokens maintain steadier trading ranges. The sharp intraday reversals suggest active trading environments across select speculative assets.

Futures Market Faces Liquidation Pressure

The futures segment of the market saw a surge in liquidations. Bitcoin futures led with $38.29 million in liquidated positions, followed by Ethereum with $33.45 million. These liquidation figures highlight a period of leveraged market stress, possibly triggered by rapid price adjustments.

Additional liquidation activity was observed in altcoins. MASK faced $13.02 million in liquidated contracts, while Solana (SOL) and Dogecoin (DOGE) recorded $7.50 million and $5.72 million in respective losses. The data points to a broad-based impact of market turbulence on leveraged positions, especially in the altcoin segment.

Despite recent volatility in token markets, the decentralized finance (DeFi) sector continues to demonstrate resilience. Total value locked (TVL) across DeFi platforms is estimated at \$201.63 billion. This metric signals persistent activity in decentralized lending, staking, and liquidity provision, even as price action turns volatile in derivatives markets.