Bitcoin nears $109k, Ethereum surges on ETF demand and treasury buys
institutional demand
, positive technical cues, and growing optimism around upcoming U.S. policy developments.
Bitcoin
hovered near the $109,000 mark, while
Ethereum
gained further ground amid sustained inflows into spot ETFs and accumulation by corporate treasuries.
As of 11:50 am IST, Bitcoin was trading 0.5% higher at $108,722, while Ethereum rose 3% to $2,627, according to CoinMarketCap. The global
crypto market
capitalisation increased by 1.04% to $3.37 trillion.
'Ethereum is building strength with corporate treasuries like SharpLink and BitMine accumulating nearly 388,000 ETH,' said Edul Patel, Co-founder and CEO of Mudrex. 'Ethereum spot ETFs have seen positive flows for eight straight weeks, with over 61,000 ETH added — signaling strong institutional demand. If the momentum continues, ETH could break out above $2,643 and aim for $2,800.'
Crypto Tracker
TOP COIN SETS
DeFi Tracker
1.72%
Buy
Smart Contract Tracker
1.38%
Buy
BTC 50 :: ETH 50
1.05%
Buy
Web3 Tracker
-1.51%
Buy
NFT & Metaverse Tracker
-2.00%
Buy
TOP COINS
(₹)
Ethereum
225,078 (
2.98%
)
Buy
XRP
199 (
2.87%
)
Buy
Solana
13,119 (
2.61%
)
Buy
BNB
56,809 (
0.48%
)
Buy
Bitcoin
9,322,383 (
0.4%
)
Buy
Bitcoin's resilience above $108,000 is encouraging bullish sentiment in the market. 'Traders are hopeful of a
breakout
above $110,000,' said Avinash Shekhar, Co-founder and CEO of Pi42. 'On-chain data suggests $100,000 may have been the local bottom, with net inflows of over $217 million into BTC and ETH ETFs at the start of the week.'
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Also Read:
52% of cryptos launched since 2021 are dead. What should investors focus on in 2025?
The macro backdrop may also be playing a role. CoinSwitch's markets desk noted that the U.S. Dollar Index is down 10.1% year-to-date and currently at its most oversold level in 21 years. 'Speculative short positions on the dollar are the lowest since 2021. If this weakness persists, Bitcoin could see capital rotation from fiat and treasuries.'
U.S. President Donald Trump's announcement of new reciprocal tariffs — including a 25% levy on Japan starting August 1 — has added another layer of uncertainty to global markets.
Meanwhile, tech entrepreneur Jack Dorsey introduced Bitchat, a decentralized peer-to-peer messaging protocol inspired by Bitcoin architecture that aims to enable encrypted offline communication — potentially including BTC transfers.
Also Read:
Crypto Gems: Top crypto assets to watch & buy in July 2025
Technical momentum
'Bitcoin has been range-bound with intraday swings between $107,500 and $109,200,' said Vikram Subburaj, CEO of Giottus. 'But with its 20-day EMA rising and RSI in positive territory, technical momentum favours a breakout above $110,500 — the last major hurdle before retesting the all-time high.'
Meanwhile, notable altcoins also saw positive traction. XRP, Cardano, and Dogecoin each gained around 3%, Solana rose 2.2%, and Stellar led the rally with a 7% surge. Chainlink was up 6%, Hyperliquid added 4%, and Hedera and Avalanche gained 4% and 3.4%, respectively.
What to watch next
All eyes are now on the U.S. Digital Asset Task Force, which is expected to unveil a strategic Bitcoin reserve policy later this month. If confirmed, analysts believe it could be a pivotal moment that shapes institutional strategies and long-term sentiment.
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