Daily Crypto Report — June 12, 2026: Market Rebounds After SpaceX IPO and Geopolitical Thaw
Daily Crypto Report — June 12, 2026 | @cryptocoinkb
After two brutal weeks of relentless selling, the crypto market finally caught a break on June 12. Bitcoin reclaimed $63,000, Ethereum stabilized near $1,660, and risk sentiment shifted from extreme fear to cautious optimism. Here is what moved the market today.
Market Overview
Bitcoin (BTC) is trading near $63,262, up roughly 0.4% on the day and climbing about 3.4% from Thursday open after President Trump announced he had canceled planned strikes on Iran, signaling a potential peace deal. BTC briefly retraced when the US Producer Price Index came in hot at 6.5% year-over-year, but buyers defended the demand zone and recovered. Bitcoin dominance remains elevated near 56%, signaling capital is still favoring the safest large-cap asset. The $64,000 level is key resistance to reclaim, with a move above it targeting $66,500. On the downside, the $59,000 to $60,000 band has held through the crash.
Ethereum (ETH) is trading near $1,661, up about 0.6%. ETH has been the relative laggard during this selloff, with its dominance sliding to multi-year lows. However, the technical picture is stabilizing — RSI has improved to 31.45 as buyers return at lower levels. Treasury firms like BitMine continue accumulating despite billions in paper losses, ETF inflows have returned, and the Glamsterdam upgrade remains on track for H2 2026. Reclaiming $1,800 and then $2,000 is what ETH needs to rejoin the recovery.
Top 3 Movers
Solana (SOL) +2.8% — Trading near $66.76, SOL outperforms on two catalysts: the tokenized SpaceX share launch happening on crypto rails and elevated FIFA World Cup fan token volumes driving on-chain activity. SOL also continues to attract positive ETF flows among major assets.
XRP +2.4% — Trading near $1.13, XRP posted its strongest session in over a week. Ripple joined Mastercard Agent Pay AI payment network, expanded its Bitso stablecoin partnership in Latin America, and the XRP Ledger 3.2.0 upgrade lands June 15 — potentially cutting server usage by up to 40%. Glassnode data shows XRP holders capitulating, which historically suggests a bottom may be near.
Hyperliquid HYPE +7.24% — Leading all major tokens with a massive gain driven by strong derivatives volume, signaling renewed appetite for decentralized perpetuals.
Key News and Developments
SpaceX IPO Prices at $135 — The largest IPO in history raised approximately $75 billion with a fully diluted valuation near $1.8 trillion. For two weeks, investors sold crypto to free up cash for the offering, pressuring prices. Now that it has priced and listed on Nasdaq, that liquidity drain is clearing — sidelined capital can start rotating back toward risk assets including crypto.
US PPI Hot at 6.5% — Above expectations, pushing September rate-hike odds to around 40%. The Fed remains firmly in focus ahead of the June 17 FOMC meeting.
Japan Advances Crypto Tax Reform — Parliament advanced a bill to reclassify crypto as financial instruments and slash the tax rate from 55% to a flat 20%, a major regulatory tailwind for Asian markets.
CLARITY Act Progress — The US crypto regulation bill cleared the Senate Banking Committee with a bipartisan 15–9 vote and remains on the Senate Legislative Calendar.
FIFA World Cup Kickoff — Fan token volumes are surging across several networks, with Solana seeing particularly elevated on-chain activity.
Market Sentiment
The mood has shifted from the relentless selling of the past two weeks to cautious optimism. The SpaceX IPO clearing a major liquidity overhang, combined with easing US-Iran tensions, has provided a meaningful shift in tone. However, the hot PPI print reminds us that macro pressure has not vanished — and the June 17 FOMC meeting remains the next big test.
Outlook
The immediate outlook is cautiously bullish. With the SpaceX liquidity drain now behind us and geopolitical tensions easing, there is room for capital to rotate back into crypto. Bitcoin holding $63,000 with strong support at $59–$60K provides a solid base. The key question is whether the FOMC on June 17 will deliver dovish signals or add fresh headwinds. If the Fed holds steady, we could see a sustained recovery; if rate-hike odds climb further, expect another test of support levels.
This report is for informational purposes only and does not constitute financial advice. Always DYOR.
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