NFTs lead crypto rebound as Bitcoin tops $64,000 and Ether rises above $1,700

Crypto recovered Monday after a Friday selloff linked to strong jobs data, AI IPO-related liquidity concerns and Saylor exposure worries, lifting NFTs, major tokens and crypto-linked stocks despite weak futures positioning.

BTC

ETH

SOL

50d ago

Fact Check

All major factual assertions in the claim are corroborated by primary market sources. The PANews/SoSoValue source confirms NFT sector led at +25.55% while SocialFi lagged at -2.63%. BlockBeats 350144 confirms BTC topped $64,000 and ETH rose above $1,700 after U.S. open. BlockBeats 350048 confirms U.S. index futures were mixed (Nasdaq and S&P up, Dow down) and crypto-linked stocks rose premarket; BlockBeats 350144 confirms continued gains in regular session. CoinDesk provides additional context. Minor caveat: PANews captured the earlier rebound (BTC above $63K, ETH near $1,600), while the $64K BTC / $1,700 ETH levels were reached later after U.S. open per BlockBeats 350144, so the narrative is consistent across the trading day.

Summary

Crypto markets rebounded on June 8 after several days of declines and a Friday selloff that was described as being driven by strong jobs data, an AI IPO-related liquidity drain and worries tied to Michael Saylor-related exposure. SoSoValue showed NFTs leading sector gains, up 25.55% over 24 hours, while Bitcoin traded above $63,000 near its 200-week moving average and later topped $64,000, Ether rose above $1,700 and SOL climbed above $67. Crypto-linked stocks advanced, but analysts said BTC futures open interest falling from 901,000 BTC to 716,000 BTC over four days suggested sentiment remained fragile.

Terms & Concepts

NFTs: Unique blockchain-based digital collectibles or assets.
200-week moving average: A long-term price trend indicator that traders use to assess broader market direction and potential cycle turning points.
open interest: The total number of outstanding derivatives contracts.