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  • New ATH Incoming? Bitcoin Soars on Bullish Macros

New ATH Incoming? Bitcoin Soars on Bullish Macros

PLUS: Pump.fun’s $1B play shakes Solana, the SEC signals the start of a pro-crypto era and over $750 million in token unlocks hit the markets

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Cryptopolitan News
June 10, 2025 • Estimated Reading Time: 11 minutes

📬 Today’s Byte

• New ATH Incoming?

• Pump.fun’s $1B token raise sparks liquidity concerns

• SEC chair Paul Atkins signals policy shift: “Self-Custody is a foundational American value”

• Over $750 million in token unlocks this week

🧨 New ATH Incoming?

After weeks of choppy trading, Bitcoin is surging again and bulls are eyeing a new all-time high.

On Monday night, BTC broke above $110,000 for the first time in nearly two weeks, riding a wave of optimism over renewed U.S.–China trade talks and a burst of crypto IPO activity. The breakout triggered nearly $200M in short liquidations and pushed the market back into bullish mode.

At the time of writing, Bitcoin trades at $110,286, up 3.6% in the last 24 hours and nearly 5% over the past week. That’s a major rebound from the June 5 dip below $101K and puts BTC within striking distance of its May all-time high of $111,814.

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If BTC can hold this level, it may set the stage for a fresh push toward the $120,000 range.

— Joe DiPasquale, CEO of BitBull Capital

📈 Ethereum jumped 4.5% to $2,679, while Solana added 3% to reach ~$160. Even meme coins showed signs of life: Dogecoin popped 4.5%, and Shiba Inu rose 2.5%.

💬 What’s driving the rally?

  1. U.S.–China trade talks back on

    Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are back at the table. Hopes for a de-escalation of tariffs are boosting investor confidence not just in equities, but also in risk-on assets like crypto.

  2. The crypto IPO wave is heating up

    Circle’s blockbuster IPO saw its shares skyrocket 168% on Day 1. Gemini has also filed to go public. Institutional attention is returning — and markets are responding.

  3. Shorts wrecked, again

    Over $323M in short positions were liquidated in a day, including nearly $200M in Bitcoin. It’s a classic squeeze that added fuel to the rally.

  4. A change in ETF flows

    Bitcoin spot ETFs have seen outflows in 5 of the last 7 trading sessions, but Ethereum ETFs have now enjoyed 15 straight days of inflows. That divergence is reshaping investor strategies.

  5. 10X Research: This breakout is different

    In a note to clients, 10X Research highlighted a high-conviction setup:

    “Negative funding rates, rising spot demand, and bottoming patterns make this a much stronger breakout than most expected.”

The takeaway? The mood has shifted. If BTC clears $111,814, the next leg up could be sharp with $120K as the next psychological magnet.

BlackRock’s spot Bitcoin ETF just pulled off something no other ETF has done this fast. The IBIT fund crossed $70 billion in assets under management after 341 days of trading, making it the fastest ETF to ever reach that level, according to Bloomberg’s senior ETF analyst Eric Balchunas.

📊 Market Watch:

Speculators brace for impact as liquidity risks swirl around one of Solana’s busiest platforms.

Pump.fun, the meme-fueled token launchpad on Solana, is reportedly eyeing a massive $1 billion raise, a move that could shake up the entire memecoin ecosystem.

According to Bloomberg, the project is still in the early stages of its token offering, but if the rumors hold, this could become one of the largest crypto raises in recent memory. The raise is expected to value Pump.fun at a $4 billion FDV.

That scale has some market veterans worried. Why? Because like Trump’s viral memecoin launch in January, such a headline-grabbing event could divert liquidity away from smaller memecoins, many of which barely hold a $1M market cap.

“Any asset in the Solana ecosystem is vulnerable to being sold to fund that purchase,” warned Ryan Watkins, co-founder of Syncracy Capital.

 Is $4B justified?

Critics are raising eyebrows at the $4B valuation. Christine Fang of PSE Trading said she’d consider buying in at $50M FDV, but questions the logic behind such a steep premium.

Others believe the token sale may be less about utility and more about capturing hype. That sentiment has sparked renewed speculation about an airdrop — a theory that isn’t without merit.

 Airdrop confirmed?

Pump.fun has long teased its community with hints of a $PUMP airdrop. Back in October 2024, co-founder @sapijiju claimed the airdrop would be “a lot more lucrative than anyone else in the space.” Now, fresh reports say 10% of the total token supply, possibly worth $400M  is being earmarked for early users and PumpSwap participants.

 Why it matters

  • This could be a game-changer for memecoins — or a liquidity drainer.

  • If the token sale sucks up too much capital, smaller coins on Solana could face serious pain.

  • But a well-timed airdrop could energize the community and bring new capital into the ecosystem.

The memecoin market runs on hype, timing, and vibes and right now, all eyes are on Pump.fun to see how it handles one of the riskiest balancing acts in crypto.

For much of the last decade, offshore jurisdictions were the only option crypto startups and decentralized finance (DeFi) projects could rely on, owing to how hostile governments were to digital assets as a whole. Crackdowns, enforcement actions, and public skepticism, limited the options of firms to offer crypto services, but that chapter may be closing fast.

🏛️ Regulation Watch: 

At the SEC’s final Crypto Task Force Roundtable this week, newly appointed Chair Paul Atkins made waves by championing self-custody and signaling a dramatic departure from Gary Gensler’s enforcement-heavy era.

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The right to have self-custody of one’s private property is a foundational American value.

Atkins is pushing for a friendlier stance toward DeFi, staking, and on-chain innovation. Speaking at a panel titled “DeFi and the American Spirit,” he emphasized that intermediaries shouldn’t be allowed to impose unnecessary costs or restrict innovation.

💡 A New SEC Playbook?

Since President Trump took office, the SEC has softened its stance on crypto:

  • Enforcement cases have been rolled back.

  • A dedicated crypto task force was formed.

  • Atkins has criticized the idea of labeling developers as brokers.

He’s now asking SEC staff to draft:

  • Clearer guidance for software-based financial systems

  • Rule amendments to support on-chain transactions

  • An “innovation exemption” that would fast-track approval for new DeFi and blockchain projects in the U.S.

“We should not automatically fear the future,” Atkins said, hinting at a regulatory sandbox model for crypto builders.

🇺🇸 Why it matters:

  • Could mark the biggest regulatory pivot in U.S. crypto history.

  • Aligns with Trump’s goal of making the U.S. the “crypto capital of the planet.”

  • Encourages innovation while aiming to maintain compliance guardrails.

A fresh era of SEC crypto oversight may be underway, one focused on enabling rather than obstructing blockchain’s future.

The legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs has dragged on for nearly five years. It is one of the most closely monitored cases as the court decides whether selling XRP broke US securities laws.

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🐥 Token Unlock Tracker by @CPOfficialtx

Market-moving headlines 🔥

The Investment Company Institute revealed that the U.S. fund management industry could be collateral damage due to provisions in Section 899.

Meta Platforms CEO Mark Zuckerberg is seeking employees for the company’s artificial intelligence ambitions.

Tools for Humanity, the startup co-founded by Altman, is bringing its futuristic eye-scanning Orbs to the UK as part of a broader global expansion of its identity verification platform.

Siebert Financial Corp announced on June 9 that its shelf registration statement on Form S-3 had been approved by the U.S. SEC, allowing the company to raise up to $100M through the sale of securities. The proceeds will go into buying crypto assets, investing in AI, and potential strategic acquisitions.

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