Bitcoin experienced a relatively stable performance on Friday, showing a marginal 0.1% increase over the past 24 hours to reach $61,367.0 by 08:58 ET. This slight uptick followed a period of significant losses throughout the month, with Bitcoin poised for a nearly 9% decline in June.

A major concern for Bitcoin traders remains the upcoming distribution of tokens stolen from the defunct Mt Gox exchange in 2014. Scheduled to begin in early July, these distributions are expected to involve significant volumes of Bitcoin and Bitcoin Cash, potentially exerting downward pressure on prices as recipients may sell off their tokens.

In broader cryptocurrency markets, Ethereum (ETH) also saw a flat performance, rising 0.1% amid reports that the Securities and Exchange Commission (SEC) could approve a spot Ether exchange-traded fund (ETF) as soon as next week. Despite this potential bullish catalyst, ETH has suffered an approximately 9% decline in June.

Altcoins like SOL, XRP, and ADA posted modest gains ranging from 1.1% to 3.5%, though they too have experienced losses throughout the month. Meme tokens such as DOGE and SHIB also saw slight increases.

The strength of the US dollar, which hit a two-month high, contributed to pressure on crypto prices as investors moved into the greenback ahead of key inflation data releases. The Federal Reserve’s preferred inflation gauge, the PCE price index, was expected to influence market sentiment and interest rate expectations.

Looking forward, market sentiment remains cautious amid uncertainties surrounding Mt Gox’s token distributions and the broader macroeconomic environment impacted by inflation concerns and potential Fed policy shifts. Meanwhile, anticipation builds around the potential impact of upcoming spot Ether ETFs on ETH’s market dynamics and valuation outlook.