Crypto News Today: Bitcoin Price Around USD 108,600, Cronos Records Over 20% Gain
By Akash Anand | Updated: July 9, 2025, 15:35 IST
The cryptocurrency market witnessed a bullish momentum on Wednesday, with Bitcoin reclaiming levels above USD 108,600 after briefly crossing the USD 109,000 threshold. Alongside Bitcoin, several other cryptocurrencies showed notable gains, with Cronos standing out by registering more than a 20% surge and a remarkable increase in trading volume.
Bitcoin Holds Steady Near USD 108,600
Bitcoin, the world’s largest cryptocurrency by market capitalization, traded above USD 108,600 during international market hours on the Binance exchange. After surpassing the USD 109,000 mark, the price saw a slight correction but maintained solid support levels. This movement has sparked optimism among market analysts, who point towards ongoing policy developments in the United States as a positive driver.
One significant factor contributing to the recent bullishness is the progress involving the U.S. Digital Asset Task Force, which is reportedly formulating policies linked to a strategic Bitcoin reserve. The reserve was initially ordered by former President Donald Trump in March this year, aiming to include government-seized Bitcoin within it. The rule stipulated that these held Bitcoins would not be sold, thereby potentially tightening supply and bolstering demand. Market analysts expect that once finalized, this policy could propel Bitcoin past the USD 110,000 mark.
Ethereum Shows Moderate Gains Amidst High Volume Trading
Ethereum (ETH), the second-largest cryptocurrency, experienced a price increase of over 2%, trading within the USD 2,540 to USD 2,630 range. At the time of reporting, ETH was priced around USD 2,610 with trading volume hovering close to USD 18 billion in the last 24 hours. Its market capitalization stands approximately at USD 316 billion.
Ethereum has also seen sustained positive inflows in spot ETFs for eight consecutive weeks, indicating growing institutional interest. This uptick in demand among institutional investors coupled with high liquidity underlines Ethereum’s strong positioning in the current market.
Cronos Surges with Exceptional Volume Spike
Among altcoins, Cronos had an outstanding performance, registering over 20% gains within a single day. The trading volume for Cronos also skyrocketed, experiencing a staggering 2,000% increase compared to previous periods. Such a surge indicates heightened market activity and investor interest in this asset.
Other popular cryptocurrencies like Solana (SOL), Cardano (ADA), Ripple (XRP), and Binance Coin (BNB) also witnessed price appreciation, contributing to the overall bullish sentiment in the market.
Market Caution Amid Tariff Announcement Concerns
Despite the upward trend, the cryptocurrency market remains cautious due to some uncertainty triggered by recent tariff-related announcements from U.S. President Donald Trump. Market participants are closely monitoring the potential impact of these policies on overall economic conditions and investor sentiment, which could influence crypto asset movements.
Indian Exchange Prices
Within Indian crypto exchanges, prices reflect international trends, showing robust interest and active trading volumes, although specific price details vary slightly due to local market factors and currency exchange rates.
Summary:
- Bitcoin price stabilized around USD 108,600 after briefly exceeding USD 109,000.
- Ethereum traded between USD 2,540 and USD 2,630 with over USD 18 billion in trading volumes.
- Cronos recorded a substantial 20%+ price increase alongside a massive 2,000% volume spike.
- Market optimism is fueled by the U.S. Digital Asset Task Force’s forthcoming Bitcoin strategic reserve policy.
- Some market concerns linger following tariff-related policy announcements from the U.S. administration.
Stay updated with the latest cryptocurrency developments and market trends on Gadgets 360. —
Akash Anand is the Deputy News Editor at Gadgets 360, specializing in cryptocurrency and technology news.