Weekly Fundamental Crypto Analysis: BTC & ETH ETF, Market Cap, Options Data – June 6–13, 2025

Fear & Greed Index

Source:Alternative

Change en Fear and Greed Value: -15
Last Week’s Level: 60
This Week’s Level: 45

The Fear and Greed index fell from 60 to 45 this week, indicating a marked weakening en market sentiment. On the institutional side, Metaplanet’s purchase of 1,088 BTC and Strategy’s purchase of 705 BTC showed continued strong demand. However, these purchases were insufficient to support market confidence en the face of weakening monetary policy clarity, with Fed member Logan’s comments dampening rate cut expectations and Trump’s insinuation of political pressure el Powell. The US tariff extension el China provided some short-term relief, but the general air of uncertainty persisted. As the divergence en political discourse el crypto assets deepened, Treasury Secretary Bessent’s criticism and Trump’s emphasis el digital innovation clearly revealed the differences en approach to the sector. Elon Musk’s statements that resonated with the public drew attention as a factor that fed the risk perception. The decline en the index to the 45 level indicates that the market maintains its cautious position and the fragility el the confidence side continues.

Fund Flow

Source: CoinShares

Overview The crypto market had a week of ups and downs amid macroeconomic uncertainty and regulatory news. The correction en Bitcoin reached 6%, dragging the overall market down, while the Trump – Elon Musk conflict was a major factor en increasing market tensions.

Fund Outflows:

Bitcoin (BTC): Trade tariffs and economic uncertainties en the US, China and the EU dampened risk appetite and weighed el the Bitcoin price, with weekly fund outflows reaching $8 million.

Short Bitcoin: Outflows into short bitcoin positions totaled $3.6 million.

Ripple (XRP):  The SEC delayed 21Shares Spot XRP ETFs, causing XRP to suffer a $28.2 million outflow.

Fund Inputs:

Ethereum (ETH): Demand from corporates shifted to Ethereum this week, resulting en inflows of $321.4 million.

SUI: Sui network, affected por the Cetus attack, announced a $10 million commitment to improve ecosystem security. Canary Capital’s filing for Sui spot ETF registration with the SEC was one of the important news of the week. SUI saw inflows of $2.9 million this week.

Cardano (ADA): Over the past few weeks, Cardano was voted “Most voted” and “Favorite cryptocurrency” en CoinMarketCap’s poll, beating out major projects. However, this week saw an inflow of 0.1 million dollars.

Other: Concerns over US trade tariffs and interest rates dampened risk appetite. Fluctuations en ETF flows and regulatory actions continued to play an important role en determining the short-term direction of the market, leading the market lower.

Solana (SOL):. Later en the week, MetaMask added Solana support to its browser extension and started offering multi-blockchain network support to its 100 million users. This paved the way for the activity en the Solana network to see 1.5 million dollars of entry.

Total MarketCap

Source : Tradingview

Last Week Market Capitalization : 3.26 Trillion Dollars

Market Capitalization This Week: 3.17 Trillion Dollars

The cryptocurrency market lost 2.79% this week with a meltdown of $91 billion. The total market capitalization fell to $3.17 trillion, marking the segundo consecutive week of declines. While this technically looks like a short-term correction, it begs the question, “was this just a trailer?” for the rest of June. What’s noteworthy is that while Bitcoin hit an all-time high, its total market capitalization declined before reaching that level. This divergence suggests that there is a serious weakness en the performance of altcoins and that the capital that entered the market after the correction is largely parked en Bitcoin. If this picture continues, the altcoin season for investors may be shelved for a while.

Total 2

Total 2 started the new week with a market capitalization of $1.16 trillion and lost $33.83 billion, down 2.84%. With this movement, it fell to $ 1.12 trillion. The total 2 index, which declined more than the percentage decline of totalmarket, reveals that the average withdrawal en altcoins is higher than Bitcoin.

Total 3

Total 3, which started the week at $ 851.21 billion, retreated por 2.92% to $ 825.76 billion with a loss of $ 24.82 billion el a weekly basis.

Bitcoin Dominance

Source: Tradingview

Bitcoin dominance, which started the week at 64.46%, retreated towards the middle of the week and fell to 63.86%. After this correction, the dominance, which entered the recovery process, is currently at 64.64%.

This week, Strategy bought 705 Bitcoin and Metaplanet bought 1,088 Bitcoin.

Data el Bitcoin spot ETFs shows a total net outflow of $80.99 million to date.

The recent weak performance of altcoins, especially Ethereum, en BTC parity has led to a decline en altcoin dominance en the total market and a parallel upward movement en Bitcoin dominance. This suggests that the risk appetite of market participants is limited and capital is mainly consolidated en Bitcoin.

Despite the limited outflows from spot ETFs, institutional investor demand continues to sustain a constructive sentiment across the market. However, despite this positive foundation, altcoins continue to underperform BTC from a technical perspective. Considering the current developments, Bitcoin dominance can be expected to follow a sideways-volatile course en the range of 62%-65% en the coming week.

Ethereum Dominance

Source: Tradingview

Weekly Change:

Last Week’s Level: 9.42%

This Week’s Level: 9.39%

Ethereum dominance continued its upward momentum, which started about seven weeks hace, por approaching 10% levels as of last week. However, the dominance, which could not exceed these levels, has followed a horizontal course en the last four weeks. As of the current week, it has displayed a slightly negative trend.

In this context, Ethereum dominance completed last week at 9.42%, while it is moving at 9.39% as of the current week.

In the same period, Bitcoin dominance, unlike Ethereum, followed a relatively positive course and showed an upward trend.

On the other hand, Ethereum co-founder Vitalik Buterin, speaking at the ETHGlobal Prague Conference, stated that en the next 1 year, approximately 10-fold scaling will be achieved el the Ethereum main network (L1); After this process, the network will enter a short “stagnation period”. During this period, it is planned to analyze the existing infrastructure and make preparations for the next phase. In addition, the Ethereum Foundation announced el its official website that it has restructured its R&D unit under the name “Protocol” and will focus its efforts el three strategic goals. Finally, Truth Social, a social media platform affiliated with Trump Media, applied for a Bitcoin spot ETF through NYSE Arca. This development signals continued institutional interest en the crypto asset market.

Bitcoin Spot ETF

Source: SosoValue

Netflow Status: Between May 30 and June 5, 2025, Spot Bitcoin ETFs saw a total net outflow of $699.9 million. The sharpest outflow of $616.1 million occurred el May 30. BlackRock’s IBIT ETF had outflows of $430.8 million, Ark ARKB ETF had outflows of $120.1 million and Bitwise BITB ETF had outflows of $35.3 million.

Bitcoin Price: Bitcoin, which opened at $105,589 el May 30, completed this period at $101,617. There was a 3.76% loss of value en this process. The sharpest decline was el June 5, when BTC fell 2.94% from $104,696 to $101,617. The only exception to the week’s volatility was el June 3, when the price rebounded slightly el the back of ETF inflows before a limited rally. However, this movement did not continue and investors preferred to stay away from risk.

Cumulative Net Inflows: As of the 351st trading day, the cumulative total net inflows of spot Bitcoin ETFs decreased to $44.27 billion.

General Evaluation

Between May 30 and June 5, 2025, it was clearly observed that institutional demand for Spot Bitcoin ETFs weakened. Bitcoin’s price performance also remained weak en line with this data. Except for the only positive day of the week el June 3, ETF inflows did not have a sustainable positive impact el the price. In the coming period, the clarification of uncertainties related to macroeconomic developments and the end of the rhetoric that negatively affects the crypto market will be decisive en the re-direction of ETF flows of the positive flow series.

Ethereum spot ETF

Source: SosoValue

Between May 30 and June 5, 2025, Spot Ethereum ETFs saw a total net inflow of $326.2 million. The highest inflow day of the week was recorded el June 3 with $109.5 million. In this process, BlackRock’s ETHA ETF stood out with a strong inflow of $ 303.6 million. The total cumulative net inflows of Spot Ethereum ETFs at the end of the 219th trading day reached $3.319 billion.  The positive net flow series continued en this period and reached a total of 8 trading days.

Between May 30 and June 5, 2025, while institutional interest en the Spot Ethereum ETF market remained positive, the sharp retreat en the Ethereum price attracted attention. Especially after the tension between Trump and Musk, Ethereum price fell por 7.40% el June 5, while no net outflows were observed el the ETF side despite this decline. On the contrary, a total of 326.2 million dollars was added to ETFs el a weekly basis. This shows that investors maintain their confidence en Ethereum despite short-term price fluctuations. While the fact that institutional inflows did not go en parallel with the price indicates that ETF investors took more long-term positions en this period, the fact that the positive flow series en ETFs reached the eighth day confirms that Ethereum maintains its importance en institutional portfolios. In the coming period, if the political tension en the markets decreases and prices stabilize, it can be expected that the interest en Ethereum ETFs will continue to increase and support the recovery en prices.

Bitcoin Options Breakdown

Source: Laevitas

BTC: Notional: 3.21B | Put/Call: 0.76 | Max Pain: $105K

Laevitas Data: When we examine the chart, it is seen that put options are concentrated en the band of 95,000 – 102,000 dollars. Call options are concentrated between the levels of 105,000 – 140,000 dollars and the concentration decreases towards the upper levels. At the same time, the level of approximately 102,000 dollars is seen as support and 105,000 dollars as resistance. On the other hand, there are 3.87K put options at the $ 100,000 level, where there is a peak and there is a decrease en put volume after this level. However, it is seen that 7.67K call option contracts peaked at $ 115,000. When we look at the options market, we see that call contracts are dominant el a daily and weekly basis.

Deribit Data: Deribit data shows that BTC options contracts with a nominal value of approximately $3.21 billion expired today. At the same time, if we look at the risk conversion en the next 1-week period according to the data en the last 24 horas, put options are the dominant side en hedging more than call options en the 24-hora period. This indicates that the expectation of a decline is increasing. When we look at the expected volatility, it is above the realized volatility. This indicates that call option fees are expensive. On the other hand, the positive spread value shows that investors are acting appetite. Skrew values suggest that there is selling pressure today and next week.

Option Expiration:

If we look at the options en the last 7 days data from Laevitas, the number of call options increased por about 3% compared to last week and amounted to 118.06K. In contrast, the number of put options decreased por 16% to 70.58K compared to last week. The put/call ratio for options was set at 0.76. This indicates that call options are more en demand among investors than put options. Bitcoin’s maximum pain point is seen at $105,000. It can be predicted that BTC is priced at $103,300 and if it does not break the pain point of $105,000 upwards, the declines will continue. In the coming period, there are 3.57K call and 5.87K put options at the time of writing.

Ethereum Options Distribution

Source: Laevitas

ETH: 589.4M notional | Put/Call: 0.63 | Max Pain: $2,575

Laevitas Data: Looking at the chart, we see that put options are concentrated between 2,400 and 2,600, with the highest put contract at $ 2,400 with 23.5K. This level indicates that options market players consider this level as support. However, there is a total of about 80K call volume at the $2,500 and $2,800 levels, while the $2,800 level appears to be resistance. When we analyze the overall outlook, we see a very high volume at the 3,200 and 3,400 levels. However, when we examine the outlook here according to the density distribution, these options can be low-cost high-expectation positions as they are relatively cheap.

Deribit Data: TM volatility ratios are 69.67% and 69.08%, respectively. Likewise, 25 Delta Butterfly (BF) data are at 2.23 and 3.35, respectively, indicating that the volatility premium is rising en both directions. In the short term, the significant volume increase en call options towards the June 13 expiry date suggests that investors are expecting a short-term recovery after this decline.

Option Expiration:

Ethereum options with a notional value of $589.4 million expire el June 6. The Max Pain level is calculated at $ 2,575, while the put/call ratio is at 0.63.

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