- Crypto rally gains momentum amid fiscal stimulus, tariff delays, and bullish on-chain metrics—ETH leads with strong ETF inflows.
- Bitcoin surged to $111,907, just shy of its previous all-time high of $111,970.
- Ethereum rose 6.41% to $2,777, breaking key resistance levels and signaling a potential move toward $3,000.
- A delay in U.S. tariffs, strong labor market data, and ongoing fiscal stimulus have boosted both crypto and equity markets, fueling short-term bullish sentiment.
- Centralized BTC reserves dropped below 11%, while options markets show high open interest and stablecoin inflows.
According to CoinMarketCap data, Bitcoin surged to $111,907 earlier today, coming within striking distance of its all-time high of $111,970 set in May 2025. As of this writing, Bitcoin (BTC) is trading around $111,090, up 2.14% in the last 24 hours. Ethereum (ETH), meanwhile, is outperforming with a 6.41% daily gain, trading at $2,777 after breaking critical resistance levels between $2,600 and $2,800.
Read Also: Think Bitcoin Is Too Volatile To Invest In? Think Again
With both assets building momentum, the crypto market finds itself at the intersection of bullish macro signals, renewed institutional interest, and surging on-chain activity—raising the possibility of further gains, but also highlighting the fragility of sentiment in a data-dependent summer window.
Ethereum Leads the Charge as Price Action Turns Technical
Ethereum’s recent breakout above $2,800 marks a significant technical milestone. Market analysts suggest the move opens a path toward the psychologically significant $3,000 level.
According to Bitwise investment chief Matt Hougan, Ethereum ETFs could pull in as much as $10 billion in H2 2025.
Institutional appetite is shifting toward ETH amid the anticipation of new ETF products and the broader tokenization wave.
Crypto miner Bitmine Immersion (BMNR) announced a $250 million commitment to purchase ETH, boosting sentiment and lifting BMNR’s own stock over 3000%. This underscores a growing narrative around Ethereum’s role in powering real-world asset (RWA) tokenization and enterprise DeFi—both expected to expand dramatically in the next five years. According to Boston Consulting Group, tokenized assets could reach $16 trillion by 2030.
Bitcoin Enters Price Discovery as Supply Thins
Bitcoin’s flirtation with price discovery comes at a moment of thinning supply and strong on-chain support. Centralized exchange BTC reserves have now dropped to 2.4 million coins, accounting for less than 11% of total supply. This suggests long-term holders are keeping their coins off exchanges, reducing available sell pressure.
Derivatives data also signals bullish bias. Deribit’s Bitcoin option open interest has climbed past $40 billion, with a put/call ratio of 0.75 and a max pain level at $102,000. This concentration of bets near current price levels, combined with strong stablecoin flows into exchanges, indicates robust support in the $100,000–$102,000 range. However, a breakdown below this level could trigger large-scale option liquidations.
Macroeconomic Tailwinds Fuel Crypto Rally
Today’s rally is not solely crypto-native. Broader macro forces have helped boost risk appetite across both digital and traditional markets. Following the July 4 weekend, the U.S. administration announced a delay in new tariffs that were previously scheduled for August 1. This move is widely seen as a negotiating tactic, but also reduces near-term inflationary pressure.
At the same time, the U.S. labor market continues to show resilience. June’s nonfarm payrolls rose by 147,000, with the unemployment rate dropping to 4.12%. Wage growth remained contained at 0.2% MoM, leading traders to slash the odds of a July Fed rate cut from 24% to just 5%, according to CME FedWatch data.
These developments have created a favorable backdrop for crypto and equities alike. The S&P 500, Nasdaq recently hit new all-time highs, buoyed by the Trump administration’s expanded fiscal stimulus and increased NATO defense commitments.
Chloe (@ChloeTalk1), macro strategist at HTX Research, explained:
“In this ‘tariff delay + fiscal expansion + labor market resilience + Fed discord’ window, both BTC and ETH appear poised for short-term strength—but volatility remains tied to upcoming CPI data and earnings season.”
Investor Sentiment: Bullish but Cautious
Despite the rally, analysts are advising caution. The Fed’s June minutes, released last night, revealed deep divisions among policymakers. While a few officials support a rate cut in July, the majority prefer to wait for further data—particularly inflation readings from the July 15 CPI report.
Derivatives traders remain alert to downside triggers. ETH’s option open interest stands at over $20 billion, with a put/call ratio of 0.52 and a max pain point at $2,200. A reversal below $2,200 for ETH or $102,000 for BTC could quickly unwind long positions, leading to forced liquidations across the board.
Crypto Market Outlook: Summer Surge or Setup for Volatility?
While Bitcoin approaches uncharted territory and Ethereum gains ground, both assets face a highly reactive market environment. With key macro data points and earnings on the horizon, short-term volatility may increase.
Shivam Thakral, CEO of BuyUcoin, captured the mood succinctly:
“Bitcoin just smashed through $111,900, showing how far crypto has come. We’re now in pure price discovery mode—anything could happen.”
According to one banking industry analyst, based on the chart of Bitcoin Price movement he said that Bitcoin is “coiled like a spring” and it is poised to break out to $170,000.
As the market braces for pivotal macro releases and potential ETF-related headlines, crypto investors are navigating with optimism—but not without caution.
Read Also: Bitcoin: How it Works, Benefits, Drawbacks and Future Outlook
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
