Crypto Markets Green as Bitcoin Hits New ATH: What’s Next?
The post Crypto Markets Green as Bitcoin Hits New ATH: What’s Next? appeared on BitcoinEthereumNews.com.
Bitcoin price rallied to a new all-time high of $112k, triggering a wider altcoin pump today. On-chain data suggests the bullish outlook was bolstered by rising demand from whales amid waning retail speculation. Technical analysis suggests the crypto market is not yet out of the woods but the bulls have the upper hand. Bitcoin (BTC) price rallied 2.5% in the past 24 hours to reach a new all-time high of slightly above $112k, before retracing to trade about $111,112 on Thursday, July 10, during the early European session. The wider altcoin market- led by Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) – rallied in tandem. As a result, the total crypto market cap surged to $3.53 trillion, with the daily average trading volume having gained 40% to hover around $140 billion according to market data from Binance-backed Coinmarketcap. The sudden crypto pump in the past 24-hours resulted in more than $529 million liquidated from over 114,508 traders, with the shorts accounting for around $466 million. The move also pushed Bitcoin’s market capitalization above that of the tech giant Alphabet (Google). Major Reasons Why BTC and Altcoins Pumped Today This latest BTC price to a new all-time high appears to be heavily influenced by sustained institutional buying. According to on-chain data analysis from Santiment, whale investors have been banking on the wider retail fear and FUD. According to market research conducted by Bitwise, institutional investors have shown unwavering conviction in Bitcoin’s long-term prosperity. Related: Is Michael Saylor Dismissing the Future of Altcoins Too Soon? Specifically, corporate investors purchased 159,107 BTCs during the second quarter of 2025, thus currently holding around 847k coins. At the same time, the U.S. spot Bitcoin ETFs have also recorded four consecutive months of cash inflows, whereby data from Sosovalue shows a net cash inflow of…
Filed under: News - @ July 10, 2025 6:23 am