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Bitcoin (BTC) Surpasses $110K Fueled by Major ETF Inflows; BONK Soars 20% Amid Renewed Trader Risk Appetite | Flash News Detail | Blockchain.News
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7/3/2025 9:34:00 AM

Bitcoin (BTC) Surpasses $110K Fueled by Major ETF Inflows; BONK Soars 20% Amid Renewed Trader Risk Appetite

Bitcoin (BTC) Surpasses $110K Fueled by Major ETF Inflows; BONK Soars 20% Amid Renewed Trader Risk Appetite

According to @rovercrc, Bitcoin (BTC) has surged past the $110,000 level for the first time since June 11, propelled by over $407.78 million in net inflows into U.S. spot Bitcoin ETFs. This rally has boosted the broader crypto market, with memecoins like BONK and FARTCOIN gaining over 20%, signaling a renewed risk appetite among traders. Alex Kuptsikevich, an analyst at FxPro, suggests that BTC could test its historical high near $112,000 this week, but warns that the upcoming U.S. employment report could act as a significant market catalyst or obstacle. The analysis also highlights a long-term cultural shift noted by Jeff Park of Bitwise Asset Management, where owning one whole Bitcoin is becoming a new financial aspiration, indicating strong underlying conviction despite short-term market volatility. The $104,000–$105,000 range has been identified as a critical support zone during recent pullbacks.

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Analysis

Bitcoin (BTC) is demonstrating significant strength, surging past the $109,800 mark and approaching the critical $110,000 psychological barrier. This powerful upward move comes on the heels of renewed institutional confidence, highlighted by a substantial influx of over $407.78 million into U.S.-listed spot Bitcoin ETFs on a single Wednesday. This recent wave of investment has pushed the total lifetime inflows for these products to an impressive $49.04 billion, according to data from SoSoValue, underscoring the sustained and growing appetite from traditional finance. As of the latest trading sessions, BTCUSDT is trading around $109,804, marking a 1.6% increase over the past 24 hours, with a daily high touching $110,493. This bullish momentum is not isolated, as it has ignited a market-wide rally, lifting major altcoins and signaling a return of risk-on sentiment among traders.



Macro Catalysts and Technical Hurdles for Bitcoin



The market's immediate focus is now split between this renewed buying pressure and upcoming macroeconomic data. Traders are cautiously optimistic ahead of the crucial U.S. nonfarm payrolls report, a key indicator of economic health that could significantly influence the Federal Reserve's monetary policy and, by extension, risk assets like cryptocurrencies. Alex Kuptsikevich, a senior market analyst at FxPro, noted the precarious balance, stating that the jobs report "could serve as both a catalyst and an insurmountable obstacle." He suggests that given the high-risk appetite in global markets, the previous high of around $112,000 could be tested this week. From a technical standpoint, BTC has established a 24-hour trading range between $107,995 and $110,493. The ability to hold above the $108,000 support level will be critical for bulls aiming to breach the $110,500 resistance and challenge the aforementioned $112,000 peak.



Altcoin Market Heats Up Amidst BTC Rally



The positive sentiment surrounding Bitcoin has created a favorable tailwind for the broader altcoin market. Ether (ETH) has shown remarkable strength, with the ETHUSDT pair surging 4.8% to approximately $2,588. Even more telling is the ETHBTC pair's performance, which climbed 4.5%, indicating that Ether is outperforming Bitcoin in the short term. Other large-cap altcoins have followed suit, with Cardano (ADA) rising 5.8% to $0.5997 and Solana (SOL) posting a more modest 1.5% gain to $152.42. The rally has also reignited speculative fervor in the memecoin sector, with standout tokens like BONK posting double-digit percentage gains. This surge in more volatile assets suggests that market participants are becoming more comfortable moving further out on the risk curve, a classic sign of a bullish market environment.



The Long-Term Vision: Bitcoin as the New 'American Dream'



Beyond the immediate price charts and macroeconomic indicators, a profound cultural shift is taking place, redefining long-term investment goals for a new generation. In a recent discussion, Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, articulated how Bitcoin is becoming a modern symbol of financial aspiration, akin to a new 'American Dream'. Park explained that for many younger individuals, the traditional goal of homeownership is being replaced by the ambition of becoming a "wholecoiner"—an individual who owns at least one full Bitcoin. This objective is seen not just as a speculative investment but as a pathway to long-term financial security and prestige. This sentiment reflects a deeper desire to opt out of traditional financial systems that are perceived as unstable or untrustworthy. According to Park, Bitcoin's decentralized and apolitical nature offers a global, shared value system that resonates with those seeking financial sovereignty. This long-term conviction provides a powerful counterbalance to short-term market volatility, suggesting a solid foundation of holders who are less likely to sell based on temporary price swings.

Crypto Rover

@rovercrc

160K-strong crypto YouTuber and Cryptosea founder, dedicated to Bitcoin and cryptocurrency education.

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