Crypto steadies after brutal $1 billion liquidation day: Crypto Markets Today

The crypto market showed signs of resilience on Thursday, with bitcoin BTC $ 61,129.32 adding 1.1% since midnight UTC after dipping below $60,000 on Wednesday to its lowest since October 2024.

The largest cryptocurrency remains at a critical level in terms of broader market structure. A potential break lower in price could trigger a slide to around $52,000. For now, it appears to have weathered the storm.

Ether (ETH) rose 1.5% on Thursday and was recently trading at $1,644 after briefly tumbling to $1,550 at around 17:00 UTC on Wednesday.

Thursday's gains can possibly be linked to a recovery in U.S. equities. S&P 500 and Nasdaq 100 futures are 0.7% and 2.2% higher, respectively.

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

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