--- title: "Bitcoin, Ethereum, XRP, Dogecoin Rally as 'Extreme Fear' Persists: Analyst Expects a 'Quick' Move Upward for BTC After 'Shallow' Correction" type: "News" locale: "en" url: "https://longbridge.com/en/news/291751608.md" description: "Leading cryptocurrencies rallied alongside rising stock futures as investors awaited the Federal Reserve's June meeting minutes. Bitcoin, Ethereum, and other major coins saw gains despite 'Extreme Fear' sentiment in the market. Analysts noted a $10 billion drop in stablecoin supply, historically linked to macro pullbacks, but remained optimistic about a shallow correction followed by a quick upward move for Bitcoin." datetime: "2026-07-06T01:52:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291751608.md) - [en](https://longbridge.com/en/news/291751608.md) - [zh-HK](https://longbridge.com/zh-HK/news/291751608.md) --- # Bitcoin, Ethereum, XRP, Dogecoin Rally as 'Extreme Fear' Persists: Analyst Expects a 'Quick' Move Upward for BTC After 'Shallow' Correction Leading cryptocurrencies gained alongside stock futures on Sunday as investors braced for the release of the Federal Reserve’s June meeting minutes. **Cryptocurrency** **24-Hour Gains +/-** **Price (Recorded at 9:15 p.m. EDT)** **Bitcoin** (CRYPTO: BTC) +1.25% $63,715.39 **Ethereum** (CRYPTO: ETH)                 +1.15% $1,790.59 **XRP** (CRYPTO: XRP)                          +0.84% $1.15 **Solana** (CRYPTO: SOL)                          +1.02% $82.00 **Dogecoin** (CRYPTO: DOGE)              +1.09% $0.07804 ## **Crypto Market** Lifts **Bitcoin** spiked late evening, nearly breaking $64,000, as trading volume increased marginally. **Ethereum** broke through $1,800, with a 41% jumpe in 24-hour volume, while **XRP** and **Dogecoin** inched higher. Over $160 million was liquidated from the cryptocurrency market in the last 24 hours, with $108 million in bearish short positions, according to Coinglass data. Bitcoin’s open interest rose 1.21% over the last 24 hours. Meanwhile, retail and whale derivatives traders remained net long on the apex cryptocurrency. "Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index. **Top Gainers (24 Hours)**  **Cryptocurrency (Market Cap\>$100 M)** **Gains +/-** **Price (Recorded at 9:15 p.m. EDT)** **Lighter** (LIT)       +18.00%     $2.57 **Unibase** (UB)                    +12.12%     $0.1048 **Ribbita by Virtuals** (TIBBIR)               +11.76%     $0.1265 The global cryptocurrency market capitalization stood at $2.13 trillion, representing a 2.39% increase over the last 24 hours. **Read Also: Bitcoin Mining Stocks IREN, RIOT, and MARA Slide as AI Pivot Faces Fresh Headwinds** ## **Stocks** Futures Rise Stock futures edged higher overnight on Sunday. The **Dow Jones Industrial Average Futures** rose 82 points, or 0.15%, as of 8:45 p.m. EDT.  Futures tied to the **S&P 500** spiked 0.54%, while **Nasdaq 100 Futures** rallied 1.36%. Eyes will be on the Federal Reserve this week as traders await the minutes of the June meeting, the first chaired by new Chairman **Kevin Warsh**, which are due on Wednesday. The central bank kept the federal funds rate steady in a target range of 3.50% to 3.75% ## Macro Pullback Phase? **Ali Martinez**, a widely followed cryptocurrency analyst and trader, highlighted a sharp drop in stablecoin supply over the last two months, owing to “heavy capital redemptions” from **Tether** (CRYPTO: USDT) and **USDC** (CRYPTO: USDC)—the two biggest stablecoins by market capitalization. “Stablecoin contraction historically reflects a macro pullback phase, as active capital is redeemed for fiat or sidelined during broad market corrections,” the analyst stated. > STABLECOIN SUPPLY DROPS BY $10 BILLION > > The aggregated market cap of the top stablecoins has dropped by $10 billion over the past two months, bringing the total stablecoin supply down to roughly $263 billion. > > On-chain data reveals this reduction is driven by heavy capital… pic.twitter.com/iVnF4IaAGZ > > — Ali Charts (@alicharts) July 5, 2026 **Michaël van de Poppe**, another popular cryptocurrency commentator, expressed optimism for a “shallow” BTC correction followed by a swift rebound, viewing it as the catalyst to reclaim the 200-week moving average, around approximately $62,500-$62,600, and exit the bearish price action. > I'm going to be very happy if there's a shallow correction on $BTC and a quick move upwards after that. > > We'll be back above the 200-Week MA and are likely going to be leaving behind the current price action and bear market. pic.twitter.com/MmEuPE0LUP > > — Michaël van de Poppe (@CryptoMichNL) July 5, 2026 **Read Also: Bitcoin Can Help to Protect the 'Fruit' Of Your Work, Says Ledger Co-Founder** _Photo: KateStock / Shutterstock_ ### Related Stocks - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [XRPI.US](https://longbridge.com/en/quote/XRPI.US.md) - [BWOW.US](https://longbridge.com/en/quote/BWOW.US.md) - [GDOG.US](https://longbridge.com/en/quote/GDOG.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [TDOG.US](https://longbridge.com/en/quote/TDOG.US.md) - [GXRP.US](https://longbridge.com/en/quote/GXRP.US.md) - [TXXD.US](https://longbridge.com/en/quote/TXXD.US.md) - [XRPZ.US](https://longbridge.com/en/quote/XRPZ.US.md) - [XRP.US](https://longbridge.com/en/quote/XRP.US.md) - [DOJE.US](https://longbridge.com/en/quote/DOJE.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [XRPR.US](https://longbridge.com/en/quote/XRPR.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md) - [ETHHKD.VAHK](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [ETHUSD.VAHK](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [DOGEUSD.VAHK](https://longbridge.com/en/quote/DOGEUSD.VAHK.md) ## Related News & Research - [Bybit Launches New DCA Challenge with Up to 55,000 USDT in Rewards for BTC, ETH and XAUT Auto-Investing](https://longbridge.com/en/news/294195061.md) - [Twenty One Capital CEO Zagury targets Bitcoin-beating risk-adjusted returns through operating-company strategy](https://longbridge.com/en/news/293912987.md) - [CleanCore’s $800M AI Contract Shows Dogecoin Treasury Firms Are Changing Shape](https://longbridge.com/en/news/294544751.md) - [Core Scientific Isn't Just a Bitcoin Miner Anymore. 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