Crypto Market Recap: Bitcoin Funds Hit US$7 Billion, Saylor Shrugs Off Quantum Risk

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$105,464 as markets opened for the week, up 1.9 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$105,426 and a high of US$107,826.

Bitcoin price performance, June 9, 2025.

Chart via TradingView

Rising institutional enthusiasm countered cautious macro sentiment over the weekend propping up Bitcoin’s value. A standout factor was Circle’s (NYSE:CRCL) June 5 IPO, shares surged 70 percent (US$117.53) following its debut debut and reinforced growing investor confidence in digital-assets infrastructure.

Meanwhile, markets have remained wary ahead of US–China trade talks in London.

Ethereum (ETH) began the day at US$2,518.20, a .13 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,482.70 and saw a daily high of US$2,544.95.

Altcoin price update

• Solana (SOL) opened at US$152.10, up 3.9 percent over 24 hours. SOL experienced a low of US$149.53 and reached a high of US$156.16 on Monday.

• XRP is trading at US$2.21, trading flat over the past 24 hours. The cryptocurrency reached a daily low of US$2.23 and a high of US$2.29.

• Sui (SUI) peaked at US$3.22, showing an increaseof 3.9 percent over the past 24 hours. Its lowest valuation on Monday was US$3.19, and its highest was US$3.34.

• Cardano (ADA) is trading at US$0.6651, up 0.9 percent over the past 24 hours. Its lowest price of the day was US$0.6586, and it reached a high of US$0.6777.

Today’s crypto news to know

Crypto funds hit record high in May

Crypto investment funds saw their assets surge to a record US$167 billion in May, driven by a growing appetite for risk and shifting investor strategies amid global market uncertainty.

According to data from Morningstar, nearly US$7.1 billion flowed into 294 tracked crypto funds last month—the largest inflow since December.

Analysts say the trend reflects a dual motivation: investors hedging against potential US market downturns and diversifying their portfolios beyond equities and gold.

Bitcoin, which rose over 15 percent since the start of the year (US$94,393 – US$107,761), has outpaced both the MSCI World Index and gold, reinforcing its appeal as a “new age” store of value.

Bitcoin and ether ETFs in the US are also driving institutional inflows, while gold and equity funds saw significant outflows last month.

Michael Saylor dismisses quantum threat to Bitcoin

Despite warnings from researchers and even BlackRock that quantum computing could break crypto’s encryption, Strategy (NASDAQ:MSTR) chairman Michael Saylor isn’t sweating it.

Speaking on CNBC, Saylor waved off the existential threat narrative, comparing it to marketing hype from those pushing “quantum tokens.”

He argued that any true quantum threat would be neutralized through a software upgrade to the Bitcoin protocol as major companies continue to patch security holes.

Behind the scenes, crypto developers are already drafting proposals to transition Bitcoin to quantum-resistant systems, including potential hard forks.

For now, the market remains unfazed—Bitcoin continues to trade above US$100K, with no sign of quantum fear priced in.

Bitcoin enters Kibera, Africa’s largest slum

Through a nonprofit initiative by fintech firm AfriBit Africa, roughly 200 residents in Soweto West now use Bitcoin to pay for goods and services, including vegetables and motorcycle rides.

Most of the crypto circulation stems from a local garbage collection program, where youth are paid in small Bitcoin grants after weekend cleanups.

Advocates say the effort provides financial access to the undocumented and unbanked, bypassing high fees from Kenya’s dominant M-PESA mobile system.