The cryptocurrency market is experiencing significant gains today, with a majority of the top 100 digital currencies registering increases over the last 24 hours. Despite this upward trend, the overall cryptocurrency market capitalization has dipped by 0.9%, now standing at $3.45 trillion. Trading volume has seen a marked rise, climbing to $128 billion compared to the previous day’s $82.5 billion.
In summary:
The cryptocurrency market remains optimistic, with 97 out of the top 100 coins showing positive movement;
Bitcoin approached a new all-time high (ATH), while Ethereum recorded the largest growth in the top 10 for the second consecutive day;
Market sentiment has shifted towards the "greed" range;
Capital inflows into US Bitcoin spot ETFs surged to $218.04 million today;
US Ethereum ETFs also saw substantial inflows of $211.32 million, marking the second-highest level in over five months;
Analysts indicate a significant amount of capital remains uninvested, poised to drive prices upwards;
Experts anticipate July will pose challenges for the markets, but assert that Bitcoin is well-equipped to handle them.
Crypto Winners & Losers
The positive momentum in the cryptocurrency market continues, with all top 10 coins per market capitalization ascending today.
Bitcoin (BTC) has seen an increase of 2.2%, currently priced at $111,250.
Ethereum (ETH) remains the top performer in this category for the second day in a row, gaining 3.1% with a current price of $2,794.
Dogecoin (DOGE) follows closely behind, rising by 5.1% to a price of $0.181.
Conversely, only three coins in the top 100 have recorded declines today. Leo Token (LEO) dropped by 1% to $8.96, Aave (AAVE) fell by 0.8% to $297.69, and Gate (GT) decreased by 0.6% to $16.09.
On a more positive note, Pudgy Penguins (PENGU) has surged by 28.3%, bringing its price to $0.01829.
Virtuals Protocol (VIRTUAL) also experienced significant growth, rising 12% to $1.62.
Yesterday, Bitcoin’s price surged from around $109,000 to nearly $112,000, partly fueled by a robust trading volume of $56.8 billion. The market capitalization remained resilient despite recent downward pressures, stabilizing above the $2 trillion mark—which indicates sustained investor interest.
Bitcoin just ripped +2.7% out of a textbook triangle breakout. Measured move target hit to the dollar at $112K. RSI at 78.
Bulls are in full control. Next resistance at $112.8K and $113.4K. Breakout traders are winning this round. #BTC #Bitcoin #Crypto pic.twitter.com/m9xJChlU4f
— Arslan Ali (@forex_arslan) July 9, 2025
In other news, the US Federal Reserve released its June meeting minutes on July 9, indicating that “tariffs pose a persistent risk for driving up prices.” Although the Fed chose to maintain the current federal funds rate, speculation persists that a rate cut may be on the horizon later this year, contingent on easing inflationary pressures.
‘July Will Test Markets, But Bitcoin is Built for It’
With Bitcoin nearing a record high, analysts have shared their insights on the recent developments. Roshan Roberts, CEO of OKX US, emphasized that “Bitcoin is demonstrating why it stands apart from the rest. As trade tensions rise and altcoins falter, institutions are beginning to view BTC as a macro hedge and a maturing asset class.”
Roberts believes that “July will be a testing period for the markets, yet Bitcoin appears well-prepared for this challenge.”
Similarly, Mauricio Di Bartolomeo, co-founder and CSO of Ledn, pointed to BTC’s recent surge as evidence of “unrelenting demand from both investors and corporations.”
In just the past month, 21 companies have declared new intentions to raise and invest approximately $3.5 billion into BTC treasuries, having already acquired 6,745 BTC, which represents about 20% of their planned purchases.
Di Bartolomeo indicated that “a substantial amount of capital remains on the sidelines, awaiting deployment. Should this trend persist, we could see Bitcoin’s price rise significantly.”
Meanwhile, analysts are engaged in discussions regarding the possibility of a genuine breakout. As the coin’s price hovers just below the previous highs, a potential pullback may occur. Nevertheless, many affirm that new all-time highs are imminently within reach.
$BTC
Plan for me is straight forward here.
Either:
A) We’re about to see a *true* breakout. In which case we see acceptance above this range (daily close above, time and space, any re-tests are support, etc). In which case I will look to trade *with* the trend, with targets… pic.twitter.com/8Cu5R05we9
— CJ (@CJ900X) July 9, 2025
Onchain analysis platform Glassnode has reported that the Bitcoin RHODL Ratio—comparing the realized values of Bitcoin held by different investor demographics—”has turned upwards,” reaching its highest level this cycle on Wednesday. This shift suggests that one-cycle holders are controlling a larger share of wealth.
According to Glassnode, “Historically, such upward movements in the RHODL ratio mark transitions in market cycles and signal a cooling of speculative momentum.”
#Bitcoin RHODL Ratio has turned upwards – reaching its highest level in this cycle. This signals a shift: more wealth is held by single cycle holders, while 1d–3m activity stays low. Historically, such turns mark transitions in market cycles and cooling speculative momentum. pic.twitter.com/RE2hzjoWH4
— glassnode (@glassnode) July 9, 2025
Levels & Events to Watch Next
As of this writing, Bitcoin is trading at $111,250. The price climbed to a monthly high of $111,742 yesterday, approaching the all-time high of $111,814 before settling at its current level.
The key level to monitor is $110,550. Should Bitcoin maintain this level, it would confirm the recent breakout. A decline towards the $109,850 mark could indicate further downturns, while a retest of the $112,000 region is also a possibility.
Bitcoin Price Chart. Source: TradingView
Ethereum’s trading price currently stands at $2,794, having opened the day with a high of $2,869 before dipping to $2,182. The price has since recovered and is steadily climbing back up.
Analysts have noted a marked increase in interest around Ethereum exchange-traded funds (ETFs), which is expected to have a favorable impact on its price. Glassnode reported on Monday that spot ETF inflows have remained positive for the eighth week in a row, with total inflows exceeding 61,000 ETH.
#Ethereum Spot ETF flows have remained positive for the 8th consecutive week, with net inflows topping 61,000 $ETH pic.twitter.com/aTANkr4RCy
— glassnode (@glassnode) July 7, 2025
Additionally, the overall market sentiment has finally shifted after a period in neutral territory. Although still classified in this range, the Fear and Greed Index has moved closer to the greed threshold, rising from 52 yesterday to 58 today. No indicators of an overheated market have emerged yet.
Source: CoinMarketCap
On July 9, US Bitcoin spot ETFs recorded an inflow of $218.04 million, significantly up from $80.04 million the day before and returning to levels observed two days prior.
BlackRock reported the highest inflow at $125.58 million, followed by Ark & 21Shares with $56.96 million. Other funds such as Fidelity, Grayscale, Bitwise, Valkyrie, and Invesco also experienced positive inflows ranging between $2 million and $16 million.
On the same day, US Ethereum ETFs recorded inflows of $211.32 million, a substantial increase from under $47 million the previous day, marking the second-highest amount in over five months.
The bulk of this amount, $158.62 million, is attributed to BlackRock, while Grayscale, Fidelity, and Franklin also reported inflows of $17.96 million, $29.53 million, and $5.21 million, respectively.
Additionally, during a hearing on July 9, US Senate Banking Committee Chairman Tim Scott urged lawmakers to push forward essential cryptocurrency market structure legislation. “Today’s hearing is the first full committee hearing on digital assets,” Scott stated. “This is a crucial step toward establishing a comprehensive framework that provides innovators the clarity they need and offers investors the protections they deserve.”
He further asserted, “Make no mistake: blockchain technology and digital assets are not going away—they are here to stay.”
Moreover, Elizabeth Warren, the Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, presented her legislative framework for the cryptocurrency market during this hearing. She outlined five priorities intended to “guide” the legislative process while formulating crypto policy.
Quick FAQ
Why did crypto move with stocks today?
The crypto market experienced a significant uptick within the last 24 hours, coinciding with a rise in the US stock market on Wednesday, despite ongoing uncertainty surrounding US trade policy. The S&P 500 increased by 0.61%, the Nasdaq-100 by 0.72%, and the Dow Jones Industrial Average by 0.49%.
Is this rally sustainable?
In short, yes. Analysts believe that long-term price increases are likely in the mid to long-term, although they will likely be accompanied by typical pullbacks. Currently, there are no indicators suggesting an impending bear market.
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The crypto market is showing bullish signals today, with the total crypto market cap rising 1%. Bitcoin is up nearly 3% over the past 24 hours, currently trading just above $111,100, briefly touching $112,000 to hit a fresh all-time high. Ethereum has continued its positive momentum today as it trades around $2,700, up 7%.
But what else is happening in crypto news today? Follow our up-to-date live coverage…
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