TLDR:
- The crypto market soars, and Bitcoin becomes the sixth-largest global asset, fueled by $1.2B ETF inflows.
- Ethereum gains 6% as the dollar weakens and the Fed maintains a dovish stance.
- Over $500M liquidated as short sellers caught off guard by BTC surge.
- Altcoins jump, led by Pudgy Penguins ETF buzz and retail market return.
The cryptocurrency market surged today as Bitcoin touched a new all-time high near $112,000.
Strong institutional inflows, reduced macroeconomic pressure, and supportive signals from regulators contributed to the bullish momentum. Ethereum followed with a notable rally, while small-cap tokens also posted significant gains.
Liquidations hit hundreds of millions as traders rushed to catch the wave. Analysts suggest rising open interest and strong technicals could push prices higher in the short term.
Bitcoin Hits Record High Amid ETF Inflows
Bitcoin climbed close to $112,000, surpassing Google in global asset rankings, becoming the sixth-largest asset by market capitalization.
According to Coinpedia Markets, over $1.2 billion flowed into Bitcoin ETFs, with BlackRock and Fidelity leading the way. Total daily ETF volumes crossed $4 billion, marking a record for the year.
???? BREAKING: #Bitcoin hits new ATH at $112,000 !It is now the sixth-largest asset in the world, surpassing Google again. ????
Fueled by:
• $1.2B #ETF inflows ( #BlackRock, Fidelity leading the charge)
• Total spot #BTC ETF volume reached $4B today.
• Open interest in $BTC… pic.twitter.com/khCfos8q3G— Coinpedia Markets (@MarketCoinpedia) July 10, 2025
Data shows Bitcoin’s open interest reached $78.69 billion, its highest level since May 2025. This rise indicates growing confidence from traders and institutions.
Elon Musk’s recent political announcement in support of Bitcoin contributed to the buying momentum. Moreover, this is alongside easing tariff concerns expressed by U.S. Treasury Secretary Janet Yellen.
Ethereum also moved higher, rising over 6% in the past 24 hours to $2,790.
According to CryptoRank, increased institutional demand and overall bullish momentum contributed to the rally. The broader market sentiment improved following the Federal Reserve’s dovish stance and weakening of the U.S. dollar index (DXY).
Altcoins reflected the bullish shift, with @pudgypenguins jumping 22% as the SEC began reviewing a proposed spot ETF. Meanwhile, GMX dropped 20% after suffering a $42 million exploit, though the team has offered a 10% bounty for the stolen funds.
???? Market Overview#Bitcoin hit a new all-time high near $112K, fueled by a weaker DXY, continued ETF inflows, and dovish Fed signals, while @ethereum rallied ~6% on institutional demand and bullish momentum.$BTC: $111,197 +2.28%$ETH: $2,790 +6.24%@pudgypenguins surged 22%… pic.twitter.com/ruakPl1tZ3
— CryptoRank.io (@CryptoRank_io) July 10, 2025
Volatility Rattles Traders, But Crypto Market Stays Positive
Despite the surge, over $518 million was liquidated across the market in the last 24 hours. CoinGlass data showed 115,000 traders liquidated, with HTX seeing a single $51.56 million wipeout. Bitcoin’s dominance and rapid rise caught many short positions off guard, fueling further price action.
Crypto market cap reached $3.63 trillion today, supported by rising volume and renewed investor appetite. The Fear & Greed Index stood at 71, signaling “Greed,” with Bitcoin continuing to lead the way.
The green trend extended to small-cap projects. Tokens like $HYPER, $CHILLHOUSE, and $KORI posted triple-digit gains, according to data from CryptoBubbles. Analysts noted a shift toward speculative trading as retail interest returned.
As Bitcoin stabilizes near $112,000, analysts expect a test of $113,000 soon. Momentum indicators show upward strength, with MACD trending positively. If ETF inflows persist and volatility stays contained, crypto prices could continue climbing in the short term.
