Bitcoin surges past $107,500, just 2% shy of all-time high; Ethereum holds strong at $2,550
Bitcoin
climbed past the $107,500 mark on Wednesday, coming within 2% of its all-time high, as bullish sentiment and institutional inflows fueled the rally.
As of 11:07 AM IST, Bitcoin was trading at $107,647, up 1.3%, while
Ethereum
gained 0.9% to $2,589. The global crypto market cap rose 1% to $3.4 trillion.
According to CoinSwitch, Bitcoin's recent surge marks its highest level since January, driven by a 10.65% jump in
BTC
futures open interest to $74.35 billion, with
Binance
contributing $12.28 billion. U.S. spot Bitcoin ETFs also recorded net inflows of $41.7 million on Tuesday, extending their positive streak to five consecutive days.
Crypto Tracker
TOP COIN SETS
BTC 50 :: ETH 50
1.86%
Buy
DeFi Tracker
0.42%
Buy
Smart Contract Tracker
-1.07%
Buy
Web3 Tracker
-4.20%
Buy
NFT & Metaverse Tracker
-8.87%
Buy
TOP COINS
(₹)
BNB
56,574 (
1.53%
)
Buy
Bitcoin
9,200,514 (
1.38%
)
Buy
Ethereum
221,708 (
1.17%
)
Buy
Tether
86 (
0.11%
)
Buy
XRP
204 (
0.07%
)
Buy
Sathvik Vishwanath, Co-Founder and CEO of Unocoin, said, 'Bitcoin is consolidating near $107,000, with strong support at $98,000 and key resistance at $109,500. If this level is breached, the next target could be $112,000.' He added that on-chain data shows steady accumulation by large holders, while positive funding rates reflect a cautious long bias.
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Ethereum, meanwhile, has been outperforming Bitcoin over the past month, rising nearly 60%. Riya Sehgal, Research Analyst at Delta Exchange, said ETH is currently testing the key psychological resistance at $2,500. 'While structural indicators remain bullish, elevated trading volumes and recent profit-taking may lead to short-term consolidation,' she said.
Also Read:
JPMorgan Chase to offer clients access to Bitcoin, despite CEO Dimon's continued criticism
Among altcoins, BNB rose 1.4%, Solana 0.8%, Dogecoin 2.4%, Cardano 2%, while Avalanche, Stellar, and Shiba Inu gained 1% each.
Bitcoin's market cap rose to $2.123 trillion, holding a 62.9% share of the total crypto market. However, daily trading volumes dipped 10% to $51.19 billion, suggesting some cooling in activity despite the price surge.
Also Read:
Why AI tokens are emerging as high-conviction investment theme in 2025
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