Crypto Prices Today: Bitcoin Surges Past $109,000; Stellar and Dogecoin Jump Over 6%
By Navdeep Singh, ETMarkets.com
Last Updated: July 7, 2025, 1:41 PM IST
The cryptocurrency market began the week on a strong bullish note, with Bitcoin surging beyond the $109,000 mark early Monday. This upward momentum is attributed to robust institutional inflows and a rise in positive market sentiment, reinforcing the growing investor confidence in digital assets.
Bitcoin and Ethereum Lead the Rally
As of 11:12 AM IST, Bitcoin rose 1.1% to reach $109,171, while Ethereum climbed 2.5% to $2,573, reports CoinMarketCap. The total global crypto market capitalization increased by 1.36%, reaching approximately $3.37 trillion.
The surge was not limited to the two largest cryptocurrencies. Several altcoins registered noteworthy gains, highlighting broad-based strength across the crypto spectrum.
Altcoins See Significant Gains
Prominent altcoins also registered sharp upticks:
- Dogecoin surged by 6.3%
- Stellar gained 6%
- Shiba Inu rose 3.5%
- Solana increased by 3.2%
- Toncoin jumped 3.6%
- Avalanche added 3%
- XRP climbed 2%
- Cardano advanced 2.4%
- Tron gained 1.5%
- Binance Coin (BNB) rose 1.1%
- Chainlink increased by 3%
- Hyperliquid moved up 1.6%
What’s Driving the Rally?
Market analysts point to a blend of strong institutional interest, favourable macroeconomic conditions, and technical momentum as key drivers behind the ongoing surge.
Edul Patel, Co-founder and CEO of Mudrex, noted, “Bitcoin is trading steadily near $109,200, supported by strong institutional demand. Spot Bitcoin ETFs recorded over $769 million in weekly inflows, pushing cumulative net inflows close to the $50 billion milestone.” He also highlighted that Bitcoin’s implied volatility has dropped to a 20-month low, indicating increasing maturity and stability in the asset.
Vikram Subburaj, CEO of Giottus, added, “Bitcoin is holding above $109,000 and is on the verge of a breakout from its bull flag pattern. A move above $112,000 will confirm bullish continuation, though a brief pullback to the $105,000 liquidity zone remains possible.” He commented that Ethereum is consolidating above the $2,500 mark and could gain further momentum once Bitcoin breaks higher.
Riya Sehgal, a Research Analyst at Delta Exchange, linked the recent surge in market sentiment to external economic developments: “The rally follows an improvement in market sentiment after President Trump’s decision to postpone new tariffs to August 1. Technically, Bitcoin is approaching key resistance at $109,680. A confirmed breakout could see it targeting $112,000 or even $115,000. Ethereum eyes resistance at $2,605, with short-term targets of $2,650 and $2,720 if bullish momentum endures.”
Macro Data and Investor Sentiment Support Growth
Avinash Shekhar, Co-founder and CEO of Pi42, commented on the broader market context, “The crypto market continues its steady ascent, fueled by rising confidence and strong on-chain signals. Exchange outflows suggest reduced selling pressure and robust long-term conviction. Bullish sentiment is building, with prediction markets now pricing in a potential $150,000 Bitcoin by the end of 2025.”
Shekhar also pointed out the strong macroeconomic fundamentals bolstering Ethereum’s strength. “A robust U.S. jobs report last week has boosted risk appetite across financial markets, benefiting crypto and equities alike,” he said.
Looking Ahead
Market participants will closely monitor crucial resistance levels for Bitcoin and Ethereum in the coming days to gauge whether the current bullish momentum will sustain. Additionally, upcoming U.S. inflation data scheduled for release on July 15 is expected to influence interest rate expectations significantly, potentially impacting the crypto market’s trajectory.
Disclaimer: The views and opinions expressed by the experts in this article are their own and do not necessarily reflect those of The Economic Times.
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Related Topics:
- Cryptocurrency Market
- Bitcoin Price Movement
- Ethereum Rally
- Dogecoin Surge
- Institutional Investment Trends
- Macroeconomic Indicators in Crypto Markets
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