Quick overview

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The cryptocurrency market is under pressure this Thursday, June 12, with Bitcoin leading the downturn.

The world’s largest crypto falls 2.2% to $105,964.8, according to Binance, slipping below a key support zone and distancing itself from its all-time high. Ethereum follows, down 4.2% to $2,638, while altcoins tumble as much as 6%, led by Dogecoin, Chainlink (-5.5%), and Shiba Inu (-5.2%).

A Technical Correction, Not a Trend Reversal

Analysts suggest that the current pullback is more of a routine technical consolidation rather than a sign of structural weakness. Bitcoin ETFs continue to attract positive inflows, and key support levels remain intact — raising the possibility of a short-term bullish resumption.

At the same time, altcoins are starting to attract increased attention, hinting at the potential for a broader rebound. Traders are closely watching liquidity zones and breakout levels to anticipate the next major move.

Global Backdrop Demands Caution

On the macro front, geopolitical and trade volatility is weighing on risk appetite. While the preliminary U.S.-China trade agreement was initially met with optimism, its limited scope has fueled skepticism. The deal centers on rare earth exports but leaves key tariffs unchanged — a 55% rate on Chinese goods and a 10% levy on U.S. exports.

The ongoing good cop/bad cop dynamic between former President Trump and Treasury Secretary Scott Bessent is also creating a tense negotiation environment. Meanwhile, multiple countries are preparing for sanctions if they fail to align with U.S. policy, adding further uncertainty to markets.

Tensions with the European Union also persist, though the U.S. Treasury has left the door open to extend negotiations beyond the July 9 deadline.

Inflation, Rates, and Middle East Tensions

Another weight on investor sentiment is the latest U.S. Consumer Price Index (CPI) report. While both the headline and core figures for May came in below expectations, robust job growth is reinforcing the view that the Federal Reserve will keep rates steady for a longer period.

Markets still anticipate a possible rate cut by year-end, but the Fed’s cautious stance — criticized by Trump as he seeks to spur growth in an election year — continues to influence risk assets.