The cryptocurrency market in June 2024 has seen significant activity and volatility. Bitcoin experienced a sharp surge to $71,700 after the European Central Bank's rate cut, but it quickly fell back to just above $70,000 [oai_citation:1,Crypto Market Analysis | 7 June 2024](https://coinswitch.co/switch/crypto/market-analysis/7-june-2024/) [oai_citation:2,Crypto Market Analysis | 6 June 2024](https://coinswitch.co/switch/crypto/market-analysis/6-june-2024/). This fluctuation is partly driven by interest rate cuts from major financial institutions, which typically boost the appeal of riskier assets like Bitcoin [oai_citation:3,Crypto Market Analysis | 6 June 2024](https://coinswitch.co/switch/crypto/market-analysis/6-june-2024/).

Token unlocks are also a notable event this month, with nearly $875 million worth of tokens from over 30 blockchain projects becoming available. Major unlocks include Arbitrum, which will release 92.65 million ARB tokens worth $105.6 million, and Aptos, unlocking 11.31 million

Arbitrage traders are taking advantage of price differences across exchanges amidst the volatile cryptocurrency market in June 2024. With significant activity and token unlocks, opportunities for profit abound.