The cryptocurrency market experienced a notable upswing today, reversing several days of modest declines. Most of the top 100 digital currencies by market capitalization witnessed price increases over the last 24 hours, while the overall cryptocurrency market cap remained steady at approximately $3.47 trillion. Trading volume surged to $120 billion, representing the highest level seen in recent days.
In summation:
Cryptocurrency values have risen, with dog-themed memecoins showing significant gains in both the top 10 and top 100 categories. Bitcoin (BTC) climbed above $109,500, edging closer to its all-time high. Ethereum (ETH) followed as the second-best performer of the day among the top 10 coins. The percentage of BTC supply in profit surged from 87% to 98% in the last week of June. This spike in profitability is accompanied by an increase in market volatility. U.S. spot BTC ETFs have sustained their positive flow, whilst ETH ETFs have encountered outflows. Analysts suggest that “any pull-backs are more likely to be healthy consolidations rather than indicators of a deeper reversal.”
Crypto Winners & Losers
Every top 10 cryptocurrency saw price gains today.
Bitcoin (BTC) rose by 2.3%, now trading at $109,515, surpassing the $108,000 mark.
Ethereum (ETH) posted a significant increase of 6.1%, currently valued at $2,600.
Dogecoin (DOGE) emerged as the day’s highest gainer, climbing 7.8% to a price of $0.1742.
Conversely, Binance Coin (BNB) recorded the smallest increase at 0.8%, bringing its price to $661.
A total of eight coins in the top 100 achieved double-digit gains, led by Bonk (BONK) with a remarkable increase of 20.8%, trading at $0.00001738.
Meanwhile, Pudgy Penguins (PENGU), which performed well yesterday, saw a decline of 2.2% to $0.01533.
Bonk recently announced its approaching milestone of 1 million on-chain holders, which will trigger the burn of 1 trillion BONK tokens.
Just a reminder:
The Dog will be doing a 1,000,000,000,000 $BONK burn when this number hits 1,000,000 pic.twitter.com/nkzo1QO65y
— BONK!!! (@bonk_inu) July 2, 2025
Additionally, BitMEX co-founder Arthur Hayes expressed the view that BTC may dip to the $90,000 mark before making a recovery to new highs.
Arthur Hayes @CryptoHayes predicts Bitcoin will dip to $90K before rebounding on a flood of liquidity from US bank-issued stablecoins.#ArthurHayes #BitcoinPrediction https://t.co/9tk8DoJgCZ
— Finance Newso.com (@Finance Newso) July 3, 2025
This latest market increase aligns with a growing interest from investors. In a notable move, Cartwright Pension Trusts in the UK launched an “Annual Bitcoin Review” for its institutional clients, following a client’s decision to allocate 3% of their fund to Bitcoin in November 2024, which has since yielded a 60% return.
‘With Elevated Profit Levels Comes Increased Market Volatility’
Gadi Chait, Head of Investment at Xapo Bank, observed that the on-chain metrics for Bitcoin reflect its strong market position. Data from Glassnode shows that the percentage of BTC supply in profit surged from 87% to 98% between June 22 and June 29. Chait remarked, “This is significant and reinforces the bullish momentum we are seeing.”
He further stated, “When profit levels are elevated, we typically see increased market volatility. Historically, a high percentage of supply in profit leads to profit-taking, which can result in short-term market fluctuations even amidst an overall positive outlook.”
Glassnode adds that distribution remains relatively low, indicating that “investors are holding through.”
As $BTC rebounds to $107k, most holders are back into profit. But distribution remains muted – investors are holding through. Realized profits decline, LTH supply hits ATH, and ETF inflows stay strong. Learn what to make of it in the latest Week On-Chain: https://t.co/Rc00Ql7P5x pic.twitter.com/g5OIvhk8lD
— glassnode (@glassnode) July 2, 2025
The Federal Reserve’s futures market indicates a two-in-three chance of a 25 basis point rate cut by September, following the FOMC’s decision to maintain rates in June, according to Chait.
“These factors suggest that any potential pullbacks are likely to represent healthy consolidations rather than a trigger for deeper market reversals. In any case, this behavior indicates a maturing market and highlights Bitcoin’s growing resonance with secure and enduring investments capable of enduring global shocks while also attracting substantial capital,” Chait summarized.
Levels & Events to Watch Next
At the time of this report, BTC is trading at $109,515, having steadily risen from a daily low of $106,925.
Key resistance levels are currently at $109,764 and $110,809. If BTC surpasses these thresholds, it may break its all-time high, while the current support level is set at $108,600.
Bitcoin Price Chart. Source: TradingView
Ethereum is similarly trading at $2,600, having experienced intraday fluctuations around $2,450 earlier today before surging to its current value.
The overall sentiment within the crypto market has improved, with the Fear and Greed Index rising from 46 yesterday to 54 today, despite still hovering in neutral territory. Although the sentiment briefly dipped into fear, a renewed sense of optimism seems to have emerged. Investors are waiting for additional signals to guide their decisions.
Source: CoinMarketCap
U.S. BTC spot ETFs have reinstated positive flows after a 15-day streak was broken on July 1. As of July 2, they garnered inflows totaling $407.78 million, dominated by Fidelity’s inflow of $183.96 million. This uptick has contributed to a significant cumulative total net inflow of $49.04 billion.
Conversely, US ETH ETFs experienced outflows totaling $1.82 million today. Although Grayscale, Fidelity, Bitwise, and VanEck observed positive inflows, BlackRock recorded a loss of $46.89 million.
In an exciting development, the first Solana staking ETF in the U.S., the REX-Osprey Solana Staking ETF, launched Wednesday on the Cboe BZX Exchange and concluded the day with $12 million in inflows and $33 million in trading volume.
$SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ether spot ETFs. pic.twitter.com/t6LkQwDXLc
— Eric Balchunas (@EricBalchunas) July 2, 2025
However, it’s worth mentioning that the U.S. Securities and Exchange Commission (SEC) unexpectedly froze the approval of the Grayscale Digital Large Cap Fund’s conversion into an ETF, halting its launch just a day after it received the green light.
The plot thickens. Upper level of SEC telling $GDLC it can’t launch until otherwise notified. Not sure why, no other info than this letter. My guess tho: They want to issue the crypto ETP listing standards before any ’33 act spot ETFs hit market with these other coins. So likely… https://t.co/Za7rYk1o0E
— Eric Balchunas (@EricBalchunas) July 2, 2025
Quick FAQ
Why did crypto move against stocks today?
The cryptocurrency market has risen over the last 24 hours, while the US stock market experienced mixed results on Wednesday. The S&P 500 was up 0.47%, the Nasdaq-100 rose 0.73%, whereas the Dow Jones Industrial Average dipped by 0.024%. These movements come ahead of the anticipated US jobs report set to be released Thursday, alongside ongoing discussions regarding trade policies and US budget bills.
Is this rally sustainable?
While this uptick may be temporary and face short-term corrections due to external factors, analysts foresee a mid-term upward trend in prices despite potential dips.
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(LIVE) Crypto News Today: Latest Updates for July 3, 2025
The cryptocurrency market is displaying strong momentum today, with the total crypto market cap increasing by 0.2%. Bitcoin has risen by 2.5% over the last 24 hours, currently trading just above $108,800 after briefly exceeding $109,600. Ethereum has also reported significant gains, rising over 6% and trading above $2,560.
To stay informed about the latest developments in the crypto sector, follow our live coverage.
The post Why Is Crypto Up Today? – July 3, 2025 appeared first on Finance Newso.
