Why Is Crypto Up Today? – July 11, 2025

The crypto market is up today, for the third day in a row. 99 of the top 100 coins per market cap have appreciated over the past 24 hours. At the same time, the cryptocurrency market capitalization has increased by 1.3% to $3.73 trillion, which is a significant increase from yesterday’s $3.45 trillion. The total crypto trading volume is at $231 billion, up from $128 billion a day before.

Crypto Winners & Losers

The crypto market has continued the green streak for the third day, as all top 10 coins per market cap rise as well.

Bitcoin (BTC) has done it – it broke its previous all-time high. The coin jumped 5.6% in a day, currently trading at $117,586.

Moreover, Ethereum (ETH) is the category’s second-best performer. It appreciated by 6.5%, currently changing hands at $2,986.

Dogecoin (DOGE)’s 8.9% is the highest increase among the top 10. Its price is now $0.1965.

Moreover, only one of the top 100 coins is red today. Monero (XMR) fell 0.7% to $325.

On the other side, a dozen coins recorded double-digit rises. Two of these have increases of over 20%.

Ethena (ENA) rose by 20.7% to the price of $0.347, while Sei (SEI) is up 20.6% to $0.3183.

Meanwhile, $1.25 billion in leveraged positions have been liquidated in 24 hours, according to CoinGlass. Short traders account for $1.1 billion.

Moreover, of the total amount, Bitcoin accounted for $658.43 million and Ethereum for $250.89 million.

Notably, the dollar is seeing its worst performance since 1973. This is actively fueling risk assets, including crypto.

‘Outlook for Bitcoin Remains Overwhelmingly Positive’

Gadi Chait, Head of Investment at Xapo Bank, commented that since 8 May, Bitcoin has ended every day above $100,000. “That’s 62 days of price stability in six-figure territory,” Chait says. “For an asset once defined by volatility, this price consolidation over a significant period of time shows that Bitcoin is maturing.”

And this week, BTC surged to an ATH, reflecting robust institutional demand and macroeconomic tailwinds, he adds. “Under the surface, institutional accumulation is at fever pitch.”

Also, the stability and institutional inflow held firm through major macroeconomic uncertainty and global geopolitical tensions. This is “a test that many other so-called ‘volatile assets’ would struggle to pass,” Chait argues.

Moreover, James Toledano, Chief Operating Officer at Unity Wallet, adds that the price surge seems to be driven by a confluence of macroeconomic optimism and significant institutional activity. The latter comes in the form of ETF inflows and sovereign and corporate balance sheet allocations. Additionally, there’s the talk of an incoming US Federal Reserve rate cuts.

Furthermore, Toledano argues that the situation could turn bad for the traditional economy, benefiting digital assets. “The US has a major debt crisis, and the interest payments on this debt is the largest budget line-item,” he says. Also, the dollar is weakening, and bond markets are experiencing sell-offs.

“A reckoning is surely coming, but this may be good for the strongest crypto assets as capital takes flight seeking a new home,” Toledano writes.

Meanwhile, Ruslan Lienkha, chief of markets at YouHodler, argues that a decisive breakout and sustained move above $112,000 for BTC “could trigger a sharp upward rally, potentially targeting the $130,000 range before entering a new consolidation phase at historically unprecedented levels.”

He adds that “the potential for such a move is underpinned by a broadly supportive macro backdrop,” as well as tightening BTC supply dynamics.

However, there are some near-term risks. This includes an evolving political and economic backdrop, particularly trade tensions.

“That said, the medium- and long-term outlook for Bitcoin remains overwhelmingly positive,” Lienkha continues. “Institutional adoption continues to deepen, the integration of crypto into traditional financial systems is accelerating, and the macro narrative of Bitcoin as a hedge against monetary debasement remains intact. Additionally, regulatory clarity is gradually improving in key markets, further legitimizing digital assets as a core component of diversified portfolios.”

Levels & Events to Watch Next

At the time of writing, BTC trades at $117,586. The coin hit a new all-time high of $118,254 just an hour prior to this writing. This was also a surge from the intraday low of $98,974. The price is up 8.1% in a week, 7.6% in a month, and 103% in a year.

Now, analysts and investors alike are waiting to see if BTC will surpass the $119,000 and $120,000 levels.

Moreover, Ethereum is currently trading at $2,986. It managed to finally surpass the $3,000 mark again, reaching $3,019 earlier this morning (UTC). It pulled back slightly, but analysts argue that it may rise further. Overall, it’s up 17.1% in a week and 7.4% in a month. It fell 3.5% in a year.

We’re now looking at $2,950-$3,050 as key support levels.

Moreover, the crypto market sentiment also surged and entered greed territory. The Fear and Greed Index jumped from 58 yesterday to 67 today. This is the highest it’s been in a month.

It also signals caution to investors. While this is not extreme green, the level suggests potential overconfidence. It may result in FOMO (fear of missing out) and, subsequently, inflated prices.

Furthermore, on 10 July, the US BTC spot exchange-traded funds (ETFs) recorded a massive jump. They saw inflows of $1.18 billion, compared to $218.04 million on 9 July. This is the second-highest amount ever, the highest being $1.38 billion in November 2024.

BlackRock’s share is $448.49 million. It’s followed by Grayscale’s $324.34 million, as well as Ark & 21Shares’ $268.7 million.

On the same day, US ETH ETFs saw significant inflows of $383.1 million. This is the highest amount in six months. It is second only to the all-time high of $428.44 million seen in December 2024.

Of this amount, BlackRock took in $300.93 million, while Fidelity saw $37.28 million.

Meanwhile, institutions and corporations are still entering the crypto space, and increasingly so.

One of the latest is NRW.BANK, a German state-owned development bank. It has recently issued a €100 million ($116.7 million) blockchain-based bond on the Polygon network.

The bank used the infrastructure of Cashlink Technologies, a BaFin-licensed crypto securities registrar, to register the bond, while institutional investors such as Deutsche Bank, DZ BANK, and DekaBank took part in the offering as joint lead managers.

Quick FAQ

The crypto market surged over the past 24 hours, while the US stock market saw a mixed picture on Thursday. despite enduring uncertainty about US trade policy. For example, the S&P 500 rose by 0.27%, the Nasdaq-100 is down by 0.16%, and the Dow Jones Industrial Average is up by 0.43%. Concerns coming from the US about tariffs, and subsequently inflation and global trade wars, were reignited again. Investors managed to largely brush them off.

Analysts generally agree that the rally is sustainable. The market has more room to grow this year. However, typical pullbacks and larger corrections are possible and even likely.

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