Crypto Surge: 95 Coins Rally Despite Market Capital Drop

The cryptocurrency market experienced an upward trend today, as most of the top 100 digital currencies by market capitalization reported gains over the last 24 hours. However, despite this positive movement, the overall cryptocurrency market capitalization declined by 2.5%, settling at $3.44 trillion. The trading volume within the market was recorded at $82.5 billion, marking one of the lowest levels seen in recent days.

TLDR:

Today’s crypto market is vibrant, with 95 of the top 100 coins in the green;

Bitcoin (BTC) remains stable at $108,322, while Ethereum (ETH) posted the highest rise among the top 10 coins;

Current market conditions are stagnant, awaiting new indicators;

The Dollar Index (DXY) has reached a historically weak position, which may benefit BTC;

US ETFs for BTC and ETH are showing positive trends, albeit with smaller inflows;

Institutional and retail investments in ETFs are expected to increase significantly;

Investors are closely monitoring developments regarding trade and tariffs in the US.

Crypto Winners & Losers

In a notable oscillation, the prices of nearly all top 10 cryptocurrencies by market capitalization have recorded gains today.

Bitcoin (BTC) slightly rose by 0.4%, reflecting the same percentage drop experienced the previous day, currently trading at $108,812.

Meanwhile, Ethereum (ETH) saw a significant increase of 3.1%, bringing its price to $2,629, the largest jump within the top 10 category.

XRP (XRP) was next, rising by 3% to a price of $2.33.

Tron (TRX) was the only cryptocurrency that did not see any price change, remaining steady at $0.2869.

Out of the top 100 cryptocurrencies, 95 recorded upward movement at the time of reporting, with two exhibiting double-digit growth. Cronos (CRO) increased by 16.4%, reaching $0.09335, while SPX6900 (SPX) saw a rise of 12.5% to $1.4.

Conversely, Bonk (BONK) and Fartcoin (FARTCOIN) experienced the most significant declines, dropping 6.3% and 2% to $0.0000218 and $1.06, respectively.

The markets are in a state of anticipation, waiting for further signals to guide their next moves. Financial markets are closely observing even the slightest changes in US trade policies and tariffs, though the focus is more heavily on the stock market than crypto.

In regulatory news, South Korea has proposed reclassifying crypto trading and brokerage firms as “venture companies,” allowing them to access government subsidies, tax breaks, and additional financial support. This announcement was made by the Ministry of SMEs and Startups, which introduced an amendment to include Virtual Asset Service Providers (VASPs) under the venture company classification.

South Korea is moving to reclassify crypto firms as “venture companies,” which would grant access to government subsidies.#SouthKorea #Crypto https://t.co/FucfcydMDq

— Finance Newso.com (@Finance Newso) July 9, 2025

Meanwhile, in New Zealand, a ban on crypto ATMs has been instituted, along with a new cap on international transfers set at $5,000. This move is part of the country’s ongoing Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) initiatives.

New Zealand has banned crypto ATMs and imposed a $5,000 limit on cash transfers as part of new measures to combat money laundering. pic.twitter.com/yzd0VxMWN0

— Ajay Kashyap (@EverythingAjay) July 9, 2025

‘Dollar’s Weakness is Bitcoin’s Strength’

According to CryptoQuant, a provider of on-chain and market data analytics, the US debt has surged to a new record, with the Dollar Index (DXY) experiencing a historically low point. Currently, the DXY is trading 6.5 points below its 200-day moving average, marking the largest gap observed in 21 years.

While this situation may initially seem concerning, analysts suggest it often benefits riskier assets like Bitcoin. The weakening dollar diminishes its safe-haven status, prompting investors to reevaluate their portfolios and allocate more capital to alternative assets.

Weak Dollar, Strong Bitcoin: A Time-Tested Correlation

“This chart highlights periods where the DXY trades below its 365-day moving average. Looking at historical data, it becomes clear that such periods have been highly favorable to BTC.” – By @Darkfost_Coc pic.twitter.com/viwbcfNhdM

— CryptoQuant.com (@cryptoquant_com) July 9, 2025

Additionally, Andrejs Balans, a Risk Manager at YouHodler, commented on the influence of exchange-traded funds (ETFs) in the crypto market. Following the US Securities and Exchange Commission’s (SEC) approval of the first spot ETF, the initial market reaction was cautious, with both BTC and ETH experiencing slight dips.

However, numerous analysts anticipate that ETFs will continue to draw significant investment from both institutional and retail investors seeking straightforward methods to engage with crypto without the complexities of managing wallets or private keys. Balans noted that these funds could potentially enhance liquidity and stabilize prices over time by increasing accessibility to crypto investments.

ETF and Strategy Bitcoin purchases heatmap.
We need more orange. pic.twitter.com/4uPsIIKfXY

— Julio Moreno (@jjcmoreno) July 8, 2025

The SEC’s approval of these ETFs also signals a growing openness from the regulator towards crypto investments as the market continues to mature and implement improved safeguards.

Levels & Events to Watch Next

As of this report, Bitcoin is trading at $108,812. The trading experience over the last day has been turbulent, yet the price has held above the $108,000 threshold. The lowest recorded price was $108,198, with an intraday high reaching $109,090.

Investors are keenly watching to see if Bitcoin will break through and maintain the $109,000 level.

Bitcoin Price Chart. Source: TradingView

Ethereum is trading at $2,629, beginning the day with a low of $2,456. The price surged to $2,622 before reaching its current intraday high.

In the upcoming hours, ETH may break above $2,635, but a sudden downturn could pull it below $2,500.

The market sentiment remains relatively unchanged, fluctuating between 49 and 55 throughout the week. The Fear and Greed Index has slightly risen from 50 to 52 today, yet both sentiment and price movements have leveled off as the market awaits new signals.

Source: CoinMarketCap

On July 8, US BTC spot ETFs recorded inflows of $80.08 million, a substantial decline from $216.64 million seen the previous day. BlackRock dominated these inflows, contributing $66.81 million, while Fidelity, Bitwise, and Valkyrie experienced modest gains.

On the same day, US ETH ETFs saw inflows of $46.63 million, a decrease from the previous day’s $62.11 million. BlackRock accounted for $25.29 million of this amount, with Grayscale and Bitwise also reporting positive inflows, though Fidelity observed outflows.

In related news, media and entertainment company GameSquare has announced a public offering to support its recently launched Ethereum-based treasury strategy. The board approved a $100 million ETH treasury allocation in phased investments.

The strategy aims for yields between 8% and 14%, surpassing the typical ETH staking returns of 3%-4%. The initiative may also encompass NFTs and stablecoins to potentially “amplify returns.”

Today, we announced the pricing of our underwritten public offering to accelerate our Ethereum treasury strategy.

Full release: https://t.co/9Bz1LVw1N1 pic.twitter.com/WQk5pgZjJD

— GameSquare Holdings Inc. (@GSQHoldings) July 8, 2025

Quick FAQ

Why did crypto move against stocks today?

The cryptocurrency market recorded gains over the past 24 hours, contrasting with the mixed performance of the US stock market by the end of Tuesday. The S&P 500 dipped by 0.072%, while the Nasdaq-100 rose by 0.074%, and the Dow Jones Industrial Average declined by 0.37%. Investors remain attentive to uncertainties surrounding global trade and tariffs emanating from the US.

Is this rally sustainable?

This uptick represents a minor increase within a more extensive rally. Analysts project both further increases and decreases in the short term. Mid- to long-term prospects suggest an overall upward trajectory for cryptocurrency prices, according to various analysts and researchers.