Crypto Price Analysis 7-10: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGECOIN: DOGE, APTOS: APT, INTERNET COMPUTER: ICP

The cryptocurrency market posted a strong rally over the past 24 hours, led by Bitcoin (BTC), which surged to a new all-time high, briefly crossing $112,000 before retreating to $111,255, its highest daily close since May. The flagship cryptocurrency rallied over 2% on Wednesday as bullish sentiment returned. BTC is marginally down during the ongoing session, trading around $110,984. Meanwhile, Ethereum (ETH) posted an even stronger rally, rising 7%, crossing $2,700, and moving to $2,772. 

Other altcoins that traded in positive territory included Ripple (XRP), up nearly 5% and trading around $2.41. Solana (SOL) is up almost 4%, trading around $157, while Dogecoin (DOGE) is up 5.44% at $0.179. Cardano (ADA), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Toncoin (TON), Litecoin (LTC), and Polkadot (DOT) also registered substantial increases. 

Bitcoin (BTC) Races To New All-Time High 

Bitcoin (BTC) surged to a new all-time high, briefly crossing $112,000 on Coinbase before retreating and settling at $111,255. The previous high mark for BTC on Coinbase was $111,891, set in May. BTC spiked on Wednesday as investors liquidated over $280 million in short positions in a one-hour period, according to data from Coinglass. Strahinja Savic, head of data analytics at FRNT Financial, stated that investors are finally recognizing BTC’s potential as a hedge against inflation and the uncertainties that haunt fiat currencies. 

“For the asset’s proponents, the global situation is exactly why they would have bought the asset in the first place. In the U.S., there is growing awareness that the fiscal situation is unsustainable and that the country lacks the capacity for reform.”

BTC rose over 2% on Wednesday, but has retreated during the current session, with the price marginally down. The flagship cryptocurrency has registered a 20% year-to-date increase, with other altcoins registering similar increases in the past 24 hours. ETH is up over 5%, while XRP and SOL are up over 3% in the past 24 hours. BTC’s jump comes after the flagship currency traded in a range between $100,000 and $110,000 as markets remained cautious due to tariffs, trade tensions, macroeconomic uncertainties, and a hawkish Federal Reserve. 

“Beyond the U.S., there is no shortage of geopolitical and macro anxieties, from the Russia-Ukraine war to Middle East hostilities.”

Cathie Wood Sells $47.9M Of Crypto Stock 

Ark Investment Management head Cathy Wood sold nearly $48 million worth of crypto shares over the past week. The stock in question had surged over 37% in the past month. Wood’s investment strategy has always revolved around targeting emerging tech companies in sectors like artificial intelligence (AI), blockchain, robotics, and biomedical technology. According to Wood, these companies can reshape entire industries. However, their volatility poses a substantial risk to the valuation of Ark Investment’s funds. Wood discussed her strategy back in April in a letter to investors, stating, 

“During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms, including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing.”

Emirates Partners With Crypto.com To Enable Crypto Payments 

Dubai-based Emirates has signed a Memorandum of Understanding (MoU) with Crypto.com to accept payments by integrating the exchange’s crypto payments functionality with its payment systems. According to the official announcement, the integration will be completed next year. Emirates has been working on plans to implement Bitcoin (BTC) and crypto payments since 2022. Emirates Deputy President and Chief Commercial Officer Adnan Kazim stated, 

“Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to meeting evolving customer preferences, in addition to tapping into younger, tech-savvy customer segments who prefer digital currencies.”

Crypto.com’s popular payments business feature allows merchants to accept over 20 settlement options, including BTC and ETH, and fiat currencies, including USD and EUR. The feature is currently used by over 4,000 merchants. Crypto.com’s President and COO Eric Anziani stated, 

“As we continue to expand the everyday use case for crypto, integration with exceptional partners such as Emirates will bring real momentum to the digital asset industry and enable both companies to offer genuine innovative finance solutions for our customers.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) decisively broke above $110,000 on Wednesday as it surged to a new all-time high on Coinbase. The flagship cryptocurrency started the week in the red, dropping 0.88% to $108,273. The price fell to a low of $107,446 on Tuesday but recovered to register an increase of 0.62% and settle at $108,942. Bullish sentiment intensified on Wednesday as the price rallied to a new all-time high before retreating and settling at $111,255. 

Analysts believe several factors pushed BTC to a new all-time high on Wednesday. Institutional adoption and ETF inflows have continued, driving positive market sentiment. Bitcoin ETFs have registered over $14 billion in net inflows for the year. Additionally, public companies like Strategy have continued accumulating BTC, driving up demand for the asset. The Trump administration’s pro-crypto outlook has also fueled bullish sentiment. Trump’s push for a strategic Bitcoin reserve, formalized by an executive order, proposes acquiring up to 200,000 BTC annually over the next five years. The US Senate is also advancing a crucial stablecoin regulatory framework, with Coinbase’s inclusion in the S&P 500 further pushing crypto into the mainstream. 

BTC’s rally also came as markets returned to a “risk-on” mode, with the tech-heavy Nasdaq Composite rising to a record close. Tech stocks rallied on Wednesday after Nvidia became the first company to hit $4 trillion in market capitalization. Investors largely ignored the latest developments around Trump’s tariffs, driving the Nasdaq Composite to record levels. Institutions have largely accepted BTC’s “digital gold” narrative, with the asset’s price largely rising and falling alongside stocks, depending on investor sentiment. Analysts expect BTC to reach new highs in the second half of the year as corporate entities accelerate their buying sprees, adding more of the asset to their treasuries. The passage of crypto regulation is also expected to boost prices. 

“With crypto week on the horizon next week in DC, and a likely flood of positive momentum heading into the dog days of summer, bullish sentiment and thinner trading volumes could see prices gap up to $120,000 or higher by the end of next week. How far we rally through the summer is anyone’s guess, but open call interest outweighs puts, which normally reveals traders are bullish and expect upward price momentum to continue.”

BTC ended the previous weekend in positive territory, rising nearly 1% on Sunday (June 29) and settling at $108,350. The price was back in the red on Monday, dropping 1.09% to $107,168. Selling pressure intensified on Tuesday as BTC fell 1.33%, slipping below $106,000 to $105,740. The price recovered on Wednesday, surging nearly 3% to reclaim $108,000 and settle at $108,845. Buyers retained control on Thursday as BTC rose 0.73%, briefly crossing $110,000 before settling at $109,637. Despite the positive sentiment, BTC lost momentum on Friday, dropping 1.41% to settle at $108,097.

Source: TradingView

The flagship cryptocurrency recovered over the weekend, registering a marginal increase on Saturday before rising almost 1% on Sunday to reclaim $109,000 and settle at $109,231. Despite the positive weekend, BTC lost momentum on Monday, dropping nearly 1% to $108,273. The price fell to a low of $107,446 on Tuesday before recovering to register an increase of almost 1% and settling at $108,942. Bullish sentiment intensified on Wednesday as BTC surged past $112,000 before settling at $111,255. The current session sees BTC marginally up as buyers and sellers struggle to establish control.

Ethereum (ETH) Price Analysis

Ethereum (ETH) continued its march towards $3,000, briefly crossing $2,800 during the ongoing session. The world’s second-largest cryptocurrency reached an intraday high of $2,824 during the ongoing session before declining to current levels. The broader market rally has seen bullish sentiment around ETH return, as it soared past key levels. ETH’s robust performance this week indicates growing confidence in the DeFi ecosystem and a renewed interest in the Ethereum network. Several catalysts could push ETH higher in July, including rising demand for Ethereum ETFs on Wall Street. Data also shows that Ethereum demand has surged in recent weeks, with exchange supply dropping considerably over the past few months.

ETH registered a notable increase on Sunday (June 29), rising 2.57% to $2,500. However, it lost momentum on Monday after facing selling pressure and volatility, and fell 0.55% to $2,486. Selling pressure intensified on Tuesday as the price dropped over 3% and settled at $2,407. ETH recovered on Wednesday, rising nearly 7% to $2,572. Buyers retained control on Thursday as the price rose 0.79% to $2,592, but not before reaching an intraday high of $2,636. Despite the positive sentiment, ETH registered a sharp decline on Friday, dropping over 3% to $2,509.

Source: TradingView

ETH recovered on Saturday, rising 0.35% to $2,518. Bullish sentiment intensified on Sunday as the price rose over 2% and settled at $2,572. Despite the positive weekend, ETH lost momentum on Monday, dropping 1.12% to $2,543, but recovered on Tuesday, rising almost 3% to cross $2,600 and settle at $2,616. Bullish sentiment intensified on Wednesday as ETH rallied nearly 6% to cross $2,700 and settle at $2,770. It briefly crossed $2,800 during the ongoing session, reaching an intraday high of $2,824 before moving to its current level of $2,788.

Solana (SOL) Price Analysis

Solana (SOL) registered a substantial rally on Wednesday as risk-on sentiment returned. The altcoin extended its gains for a third consecutive day, finally clearing the resistance around $152-$153. Despite the positive sentiment, SOL faces a significant hurdle at $160, a level at which it has faced rejection. If SOL fails to clear this level, it could start a fresh decline, pushing the price towards $150. A break below this level could drive SOL towards $140. On the other hand, a break above $160 could drive the price towards $180.

SOL ended the previous weekend on a positive note, rising nearly 2% to $153. It faced volatility and selling pressure on Monday as sellers attempted to overwhelm buyers. Despite the selling pressure, SOL rose 1.01% and settled at $154. SOL lost momentum on Tuesday, falling over 5% to go below $150 and settle at $147. Despite the selling pressure, it recovered on Wednesday, rising nearly 4% to reclaim $150 and settle at $152. SOL was back in the red on Thursday, registering a marginal decline. Selling pressure intensified on Friday as the price fell over 3%, slipping below $150 to $147.

Source: TradingView

Sellers retained control on Saturday as SOL registered a marginal decline. Despite the selling pressure, it recovered on Sunday, rising nearly 3% to reclaim $150 and settle at $151. SOL was back in the red on Monday, dropping 1.97% to $148. The price recovered on Tuesday, rising almost 2% to reclaim $150 and settle at $151. Bullish sentiment intensified on Wednesday as SOL rallied, increasing 3.54% to cross the 50-day SMA and settle at $157. The current session sees SOL up 1.16% as it attempts a move towards $160.

Dogecoin (DOGE) Price Analysis

Dogecoin (DOGE) traded in positive territory the previous weekend, rising nearly 1% on Saturday and 3.62% on Sunday to settle at $0.169. Despite the positive sentiment, it was back in the red on Monday, dropping over 2% after failing to cross the 20-day SMA. Selling pressure intensified on Tuesday as the price fell 4.54% and settled at $0.157. DOGE recovered on Wednesday, rising over 7% to cross the 20-day SMA and settle at $0.168. Buyers retained control on Thursday as the price reached an intraday high of $0.176 before settling at $0.172, ultimately registering an increase of 2.01%. Price action turned bearish on Friday as DOGE fell over 5%, slipping below the 20-day SMA and settling at $0.163.

Source: TradingView

Buyers returned to the market over the weekend as DOGE rose 0.73% on Saturday and over 4% on Sunday to cross the 20-day SMA and settle at $0.171. Price action was back in the red on Monday, dropping 2.10% to $0.167. DOGE recovered on Tuesday, rising almost 2% and settling at $0.171. Bullish sentiment intensified on Wednesday as the price rose over 5% to settle at $0.180. The current session sees DOGE marginally up as buyers attempt a move past the 50-day SMA.

Aptos (APT) Price Analysis

Aptos (APT) started the previous week in the red, dropping 1.43% on Monday and settling at $4.88 after failing to cross the 50-day SMA. Selling pressure intensified on Tuesday as APT plunged over 8%, slipping below the 20-day SMA and settling at $4.49. Despite overwhelming selling pressure, the price recovered on Wednesday, rising nearly 6% to cross the 20-day SMA and settle at $4.74. APT registered a marginal decline on Thursday, losing momentum after facing selling pressure and volatility. Selling pressure intensified on Friday as the price fell over 7%, slipping below the 20-day SMA to $4.40.

Source: TradingView

APT registered a marginal increase on Saturday, rising 0.36% to $4.42. Buyers retained control on Sunday with the price increasing 1.23% to $4.47. Despite the positive weekend, APT was back in the red on Monday, dropping 0.36% to $4.45. The price recovered on Tuesday and moved to $4.47. Bullish sentiment intensified on Wednesday as APT rose nearly 4% to cross the 20-day SMA and settle $4.64. The current session sees APT marginally down as buyers look to drive it back below the 20-day SMA and $4.50.

Internet Computer (ICP) Price Analysis

Internet Computer (ICP) registered a sharp jump the previous weekend, rising 1.89% on Saturday and over 4% on Sunday to cross $5 and settle at $5.07. However, it lost momentum on Monday, dropping over 3% to $4.91. Selling pressure intensified on Tuesday as the price fell over 4% and settled at $4.70. Despite the selling pressure, ICP made a strong recovery on Wednesday, rising nearly 7% to reclaim $5 and settle at $5.02. The price was back in the red on Thursday, registering a marginal decline after reaching an intraday high of $5.14 to settle at $5.01. Bearish sentiment intensified on Friday as ICP dropped 4.59% and settled at $4.78.

Source: TradingView

Sellers retained control on Saturday as the price registered a marginal decline. However, ICP recovered on Sunday, rising almost 2% to $4.85. ICP was back in the red on Monday, dropping 1.44% to $4.78. Despite the bearish start to the week, the price recovered on Tuesday, rising 1.26% to $4.84. Bullish sentiment intensified on Wednesday as ICP surged over 6% to reclaim $5 and settle at $5.15. The current session sees the price up almost 1%, trading around $5.19.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.