Tech outflows lift crypto cap; Uniswap jumps 23%

The total crypto market capitalization increased 0.42% to $2.24 trillion, adding about $9.45 billion over the past 24 hours as some investors moved money out of technology equities ahead of the Federal Reserve policy announcement. No interest-rate cut is expected at the meeting. Bitcoin traded near $65,718, up 0.16% on the day, while Uniswap rose roughly 23%.

Traders shifted capital from tech stocks into crypto on profit-taking and repositioning ahead of the Fed decision. Market analysts said the cap needs to surpass $2.29 trillion to indicate broader strength. Key support levels were identified near $2.19 trillion and $2.02 trillion.

Bitcoin showed limited upside momentum. The token encountered resistance around $67,234 and buying volume had declined since June 11. Technical levels to watch included a break above $67,234 and a daily close above $68,166, which would open targets near $70,975 and $73,784. A daily close below $64,691 could expose a slide toward about $59,073.

Uniswap led the altcoin gains, rising about 23% in 24 hours and extending a roughly 44% weekly advance. The surge followed Standard Chartered initiating coverage of UNI on June 15 with a long-term target of $100 by 2030 and a near-term target of $6.50 by the end of 2026, citing anticipated growth in tokenized real-world assets and decentralized finance. Grayscale also highlighted UNI’s relative value and Uniswap’s support for tokenized stocks drew further buying interest. On charts, UNI broke a falling channel from May and saw breakout volume spike on June 15 before easing. Near-term technical hurdles are $3.77, then $4.17 and $5.32, with support around $3.46 and $3.24.

Other market developments included Grayscale setting a one-year price target of $179 for Aave versus a spot price near $77. Robinhood reduced its workforce by about 10%, roughly 290 positions; CEO Vlad Tenev described the reduction as a proactive step while the platform handled record trading volumes in June. Separately, Elon Musk’s net worth briefly reached about $1.4 trillion after a roughly $101.7 billion single-day gain tied to a SpaceX valuation increase, temporarily exceeding Bitcoin’s market capitalization of about $1.31 trillion.

Analysts and traders described the recent price action as a rotation of risk capital rather than a confirmed trend change, and they cited the need for renewed buying volume and breaks of key resistance levels to signal broader market upside.