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Bitcoin Pulls Back to $106K After Record Monthly Close
Altcoins also posted losses Tuesday as profit-taking and weakness in tech stocks dragged crypto markets lower.
Updated Jul 1, 2025, 5:59 p.m. Published Jul 1, 2025, 5:58 p.m.
What to know:
- Bitcoin fell about 1% to $106,175 as profit-taking followed in the hours after the highest ever monthly close around $107,200.
- U.S. tech stocks, including Tesla and Nvidia, slumped, weighing on broader crypto market sentiment.
- Altcoins like Solana, Cardano and Avalanche posted steeper declines, with SOL down nearly 6% over the past 24 hours.
Bitcoin slid on Tuesday as weakness in U.S. tech stocks appeared to spill over into crypto markets.
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The crypto asset fell about 1% over the past 24 hours, trading at $106,175 at press time as traders took profits after ending June above the $107,000 for its highest-ever monthly close.
Sentiment equally soured in equities with shares of Tesla (TSLA) and Nvidia (NVDA) both taking heavy losses, dragging the Nasdaq lower by about 0.6% — a pattern that often weighs on digital assets. Tesla was lower by 5.4% in afternoon trade after the Donald Trump/Elon Musk spat re-erupted alongside the momentum for passage of the GOP's spending bill.
Major altcoins including Solana , Cardano and Avalanche posted steep declines, adding to a broader downturn across the crypto space. SOL led the way with a 6% decline following yesterday's spike higher on news of imminent launch of an ETF.
Powell repeats vow to stay patient
Speaking in Europe at an ECB event, Federal Reserve Chairman Jerome Powell repeated recent comments about the U.S. economy being in a good spot, thus allowing for patience as the central bank mulls the idea of rate cuts.
Powell's comments Tuesday were of particular import given what's now a clear split between him and at least two other Fed members, both of whom would like to see a July rate cut on the table. Powell did allow that a rate cut this month isn't off the table, but gave little indication he's considering easing policy in July.
Thanks to the July 4 holiday, the government's employment report for June will be released on Thursday this week. Economists are expecting jobs to have grown by 110,000 in June versus 139,000 the previous month.
A sizable delta below that 110,000 level could quickly change sentiment about the Fed's July decision.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
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