- Bitcoin and Ethereum dip despite record highs in S&P 500 and Nasdaq indexes
- Arbitrum and small-caps rally amid Robinhood rumors and growing SPAC interest
- Ripple’s $125M SEC settlement boosts XRP while Hashflow leads altcoin gains
The cryptocurrency market experienced a mild pullback today as investors adopted a cautious stance, despite a bullish day on Wall Street. According to CryptoRank data, the S&P 500 and Nasdaq both reached new all-time highs, yet major digital assets failed to mirror the momentum.
Bitcoin slipped slightly, and Ethereum followed suit, with most of the market showing a lack of clear direction. While no major catalysts triggered the dip, traders seemed to favor profit-taking, especially after recent altcoin surges.
📉 Market Overview
— CryptoRank.io (@CryptoRank_io) July 1, 2025
Market saw mild selling pressure today without any major news catalysts, keeping overall sentiment cautious. #Bitcoin edged lower despite S&P 500 and @Nasdaq closing at record highs.$BTC: $106,847 ↓1.13%$ETH: $2,462 ↓1.38%$ARB surged ~27% in a day,… pic.twitter.com/s2Wg16E0dV
Bitcoin and Ethereum Slip Despite Stock Market Strength
Bitcoin ($BTC) dropped 1.13% to $106,847, showing weakness despite strong equity performance. Ethereum ($ETH) also declined 1.38%, currently priced at $2,462. The lack of a major driver left crypto markets in a state of hesitation.
The overall market cap stands at $3.45 trillion. Liquidations over the past 24 hours reached $203.79 million, indicating some leveraged positions were flushed out during the downturn.
Despite the red day for majors, the broader sentiment remains moderately positive. The Fear & Greed Index sits at 64, signaling Greed. However, the Altcoin Index reads 26/100, showing that many small-cap coins are still lagging behind in strength.
Altcoins See Mixed Action Amid Robinhood Rumors and SPAC Buzz
While large caps dipped, some altcoins surged on positive speculation and upcoming business moves. Arbitrum ($ARB) rallied nearly 27%, marking a two-week high. This surge follows speculation that Robinhood may tap Arbitrum’s network to allow European investors access to U.S. stock markets.
In a surprising development, M-3 Brigade Acquisition V Corp revealed plans to raise $1 billion through a SPAC deal. The goal is to acquire Bitcoin, Ethereum, and Solana. This move, if successful, could inject fresh institutional liquidity into the crypto space.
Additionally, Ripple ended its long-standing battle with the SEC, agreeing to a $125 million settlement. XRP responded positively, showing strength as legal clarity improved its investment case.
Small-Caps Surge as Hashflow Leads the Pack
Several small-cap coins posted eye-catching gains. Hashflow ($HFT) jumped 90.6% to $0.1249 with a trading volume exceeding $544 million. Over the past week, the token has soared 141.4%.
Troll ($TROLL) rose 41.3% to $0.08382, while Swarms ($SWARMS) climbed 34% to $0.02193. Camelot Token ($GRAIL) surged 27%, now trading at $535.30, up 91.92% over the past week. Despite minimal trading volume, $GAME gained 28.9% today priced at $0.00005176.
