The latest rankings also highlighted the gap between Bitcoin and the world’s largest assets. NVIDIA’s market capitalization was nearly four times larger than Bitcoin’s, reflecting continued investor demand for AI-related equities.
Bitcoin also lost ground to newly listed SpaceX, which debuted with a valuation of approximately $1.77 trillion after a record $75 billion IPO priced at $135 per share. The valuation placed SpaceX ahead of Bitcoin’s $1.27 trillion market capitalization, further pushing the cryptocurrency down the global asset rankings.
While the ranking shift reflects Bitcoin’s relative underperformance against large-cap equities, traders are now watching whether the cryptocurrency can regain momentum in the near term.
Bitcoin Consolidates Within Symmetrical Triangle
Market analyst Ali Charts said Bitcoin was consolidating within a symmetrical triangle, with key resistance near $63,000 and support around $61,000. According to him, a decisive hourly close outside that range could trigger a 10% move as momentum expands.
The setup showed lower highs and higher lows, pointing to tightening momentum. A break above $63,000 would return attention to the $64,800 to $66,000 zone. However, a move below $61,000 would weaken the structure and expose the market to $60,000 or lower.
ETF flows remained another pressure point for Bitcoin. Spot Bitcoin ETFs posted $19.03 million in net outflows on June 11, marking a fifth straight day of withdrawals.
Spot Ethereum ETFs also recorded $15.89 million in net outflows, their third consecutive negative day. While the latest Bitcoin ETF withdrawal was relatively modest, it continued to reflect cautious institutional sentiment.
Related: Analyst Predicts Bitcoin Drop Below $55K Before Rally to $150K
coinedition.com
