Bitcoin Shatters $110,000, XRP, Dogecoin, Ethereum Surge: 'Bulls Emerge Victorious,' Trader Concludes
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Crypto markets are surging on early Thursday, with Bitcoin hitting a new all-time high above $110,000 amid accelerating institutional adoption and robust ETF inflows.Cryptocurrency
Price
Gains +/-
Bitcoin (CRYPTO: BTC)
$110,681.06
+4%
Ethereum (CRYPTO: ETH)
$2,650.22
+4.3%
Solana (CRYPTO: SOL)
$178.1
+5.3%
XRP (CRYPTO: XRP)
$2.41
+2.7%
Dogecoin (CRYPTO: DOGE)
$0.2395
+5.6%
Shiba Inu (CRYPTO: SHIB)
$0.00001523
+4.9%
Notable Statistics:
IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 22.1% and 36.9%, respectively, while BTC's daily active addresses went up by 7.7% and exchange netflows are up by 332.7%.
Coinglass data shows 125,650 traders were liquidated in the past 24 hours for $505.49 million.
SoSoValue data shows $608.99 million in net inflows into spot Bitcoin ETFs and $587,000 in net inflows into spot Ethereum ETFs.
CoinGlass data shows selling pressure for Bitcoin with nearly $200 million in stacked sell orders between $111,000–$113,200, with ~$8 million per $100 increment totalling around $200 million in cumulative sell pressure.
According to Coin Bureau, retail investors have yet to fully enter the market as wallets holding less than 1 BTC ('shrimp' addresses) remain lower than in May 2024 and January 2021. Once retail floods in, sentiment could turn euphoric.
Trader Notes: Glassnode data reports only $1 billion in profit-taking at Bitcoin's new all-time high, less than half the $2.1 billion seen when Bitcoin first crossed $100,000 in December. This suggests investors are holding tight for more upside.
Don't Miss:
Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.
Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account.
Crypto trader Jelle sees Bitcoin having a target of $180,000 while Trader Tardigrade says Bitcoin broke out of a key battleground between bulls and bears and the bulls are now fully in charge and have emerged victorious.Dogecoin is breaking out of a bull pennant, with Ali Martinez targeting $0.31.Jelle remains confident in his Solana holdings, expecting a strong rally once it clears $250. He expects a surge to $400–$500 once it clears resistance, as 'weak hands' have already been flushed out.
Ethereum is holding strong, but Jelle believes the real rally begins once it reclaims $3,000, which could trigger a broader market wave.
Read Next:
New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase.
A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase.
Image: Shutterstock
Send To MSN: Send to MSN
This article Bitcoin Shatters $110,000, XRP, Dogecoin, Ethereum Surge: 'Bulls Emerge Victorious,' Trader Concludes originally appeared on Benzinga.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Fed's Waller Outlines Path to Rate Cuts Later This Year
(Bloomberg) -- Federal Reserve Governor Christopher Waller said he continues to see a path to interest-rate cuts later this year amid his expectations that tariffs will boost unemployment and temporarily increase inflation. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NYC Congestion Toll Brings In $216 Million in First Four Months Waller said tariffs will raise inflation in the 'coming months,' but he supports looking through any near-term rise in price growth when setting policy as long as inflation expectations remain anchored. 'Assuming that the effective tariff rate settles close to my lower tariff scenario, that underlying inflation continues to make progress to our 2% goal, and that the labor market remains solid, I would be supporting 'good news' rate cuts later this year,' Waller said in remarks prepared for a Bank of Korea conference in Seoul on Monday. Waller referenced a speech he gave in mid-April, in which he outlined two scenarios for how trade policy may unfold. His 'large-tariff' scenario assumed an average trade-weighted tariff on goods of 25% that remained in place for 'some time.' The 'smaller-tariff' scenario assumed a 10% average tariff, and that higher country and sector-specific duties would be negotiated lower over time. In both scenarios, Waller expects the impact of tariffs on inflation would be temporary. He also anticipates the levies will cause an increase in the unemployment rate that will 'probably linger.' That said, job cuts would likely be 'modest,' he said, under the smaller-tariff option. 'Reported progress on trade negotiations since that speech leaves my base case somewhere in between these two scenarios,' Waller said. He now estimates a 15% trade-weighted tariff on goods imports. During Waller's dialogue with Bank of Korea Governor Rhee Chang-yong, he attributed recent increases in long-term treasury yields to rising concerns over the US fiscal deficit. He said markets had expected some progress toward fiscal consolidation, but estimates now suggest the federal deficit will remain near $2 trillion — about 6% of gross domestic product — for the foreseeable future. 'If there's going to be a lot more debt issuance than the markets thought, they'll buy it — but at a much lower price, unfortunately,' he told Rhee. 'It's not a question of whether it will sell, but the price they're willing to pay.' He added that recent trade and geopolitical developments, including tariff announcements and signals from the White House, have fueled risk aversion among foreign investors. Some institutional buyers are reassessing their exposure to US assets, which could weigh on demand and push yields higher. Inflation Expectations Waller largely dismissed a 2025 surge in the University of Michigan's gauge of consumers' inflation expectations over the next five to 10 years. He said he prefers to look at market-based measures of inflation compensation and professional forecasters' expectations, which have not seen a similar increase. Waller said the 'strong' labor market and recent progress toward the Fed's 2% inflation goal offer policymakers time to see how trade negotiations unfold, echoing many of his colleagues. Fed officials have largely indicated rates are in a good place while they await further clarity on President Donald Trump's policies — particularly tariffs — and their impact on the economy before adjusting borrowing costs. Waller underscored that considerable uncertainty remains around the ultimate level of duties imposed on other countries and sectors. Trump announced Friday that he would be increasing tariffs on steel and aluminum to 50%, from 25%. 'As of today, I see downside risks to economic activity and employment and upside risks to inflation in the second half of 2025, but how these risks evolve is strongly tied to how trade policy evolves,' Waller said. Stablecoin Implications Waller also weighed in on stablecoins, describing them as a potential tool to introduce competition into payments system. While noting he couldn't speak for the US government's stance on legislation, Waller said he views stablecoins as 'just a payment instrument,' one that could be issued by non-bank entities in the same way deposits are used for transactions. 'If stablecoins can help drive down costs, especially for small and medium-sized firms doing cross-border transfers, I'm all for allowing competition rather than having regulators set prices,' Waller said. (Updates with Waller's comments after speech.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Drug maker Indivior to abandon London stock market for the US
Drug maker Indivior has announced plans to delist its shares from the London Stock Exchange (LSE), marking the latest company to abandon the UK market for the US. However, the LSE welcomes Anglo-American's platinum spin-off Valterra after becoming independent from the mining giant. Indivior's exit comes after the company moved its primary listing to the US's Nasdaq index last year. It said cancelling the secondary listing in London eliminates 'cost and complexity' and better reflects the business – with more than 80% of its revenues generated in the US. It also said liquidity on the Nasdaq now 'far outweighs' that of the LSE with a greater level of trading. The US-based pharmaceutical firm makes prescription medicines to treat opioid addiction, and has a market capitalisation of £1.2 billion. 'A single primary listing on Nasdaq best reflects the profile of Indivior's business,' chairman David Wheadon said. 'We appreciate the support received from shareholders for this initiative and look forward to capitalising on the expected benefits of this move, including reductions in cost and complexity.' The LSE faced the largest exodus of companies since the global financial crisis in 2024, according to EY analysis. There were 88 companies to delist or transfer their primary listing from the main market – the most since 2009. At the same time, the LSE struggled to attract as many new companies to fill the gaps – with 18 new listings in total last year. Nevertheless, Indivior's exit, which will take effect from July 25, comes as Valterra Platinum makes its debut on the London market. Anglo American spun off its platinum business into the new entity, which has become the world's most valuable producer of the metal. Valterra will have its secondary listing on the LSE, with its primary on the Johannesburg Stock Exchange. Duncan Wanblad, Anglo American's chief executive, said: 'Valterra Platinum has been a major part of the company for many years but now is the right time for it to optimise its value creation prospects on an independent path – it's an outstanding business and team and I have every confidence that Valterra Platinum will thrive as a leader in the global platinum group metals industry.' Sign in to access your portfolio
Forbes
28 minutes ago
- Forbes
China Accuses US Of Violating Trade Pact—Rejects Trump's Allegation
Chinese authorities on Monday accused the U.S. of violating a recent trade pact that both agreed to in Geneva last month, as they dismissed President Donald Trump's allegation about Beijing breaching the agreement, a move that could signal a further escalation in trade tensions between the two countries, which could potentially jeopardize last month's tariff truce. China's Commerce Ministry accused the U.S. of violating a trade deal agreed in Geneva by imposing ... More additional chip restrictions and canceling Chinese student visas. In a press briefing, a Chinese Commerce Ministry spokesperson dismissed Trump's comments accusing China of violating the agreement, saying Beijing has worked 'to strictly implement and actively safeguard the Geneva deal.' The spokesperson noted that China had acted in accordance with the deal to cancel or suspend 'relevant tariffs and non-tariff measures' it had taken as retaliation against the U.S. government's reciprocal tariffs. The spokesperson then accused the U.S. of introducing ' a number of discriminatory restrictive measures against China' after the talks, citing expanded export controls on AI chips and other chip-building technology. The official also criticized the U.S. government's crackdown on Chinese student visas, saying these actions violated the consensus reached between Trump and Chinese President Xi Jinping in a phone call on January 17. The spokesperson then warned that if the U.S. continues to take actions that damage China, Beijing will 'take resolute and forceful measures to safeguard its legitimate rights and interests.' In a post on his Truth Social platform on Friday, Trump said: 'China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' without specifying how it had done so. The president then signalled that the U.S. may retaliate against this alleged non-compliance, saying: 'So much for being Mr. NICE GUY!' In his post, the president claimed his tariffs had put China in 'grave economic danger' and he made a 'FAST DEAL' in Geneva, 'in order to save them from what I thought was going to be a very bad situation.'
