- Bitcoin hits $113,652, up 3.72% in 24 hours, nearing the $120K target as institutional demand rises.
- Ethereum outperforms Bitcoin, rising by 5.54%, as the overall crypto market cap reaches $3.52 trillion.
- Increased Bitcoin trading volume and open interest indicate growing investor confidence in the market.
Bitcoin has reached a new high of $113,652 on July 10, 2025. Within 24 hours, the price of the cryptocurrency grew by 3.72%. This is the second successive positive day. This increase has brought the price of Bitcoin closer to a significant psychological barrier. Investors closely monitor the rally as it continues to move up.
The price increase has recently been due to expanding institutional interests. Bitcoin ETFs are experiencing increased demand. This institutional adoption is increasing the price. The U.S. environment is becoming crypto-friendly which is also driving up the rise. Moreover, the declining U.S. dollar has been enticing investors to seek safe-haven investments such as Bitcoin.
Crypto Market Boom
The crypto market is thriving as a result of a Bitcoin rally. The cumulative market capitalization of cryptocurrencies is $3.52 trillion. This is an increment of 3.64% only within a day. The large altcoins are doing well too. Ethereum (ETH) has risen by 5.54% more than Bitcoin within the same period. The good performance of altcoins is an indication of strength in the market.
As of press time, Bitcoin is trading at $113,576, marking a 3.72% increase over the past day. The trading volume for the same period stands at $68.96 billion, reflecting a 55.94% increase. Over the last week, the BTC price has increased by 3.82%.
Source: CoinMarketCap
Also Read: Bitcoin Set to Surge Toward $220,000 Amid Rising Institutional Support
Bitcoin Market Surge
According to CoinGlass, the market activity increased significantly. The open interest in BTC increased by 10.51%, totalling $83.54 billion. Trading volume has increased by 105.86% to $121.40 billion. These indicators demonstrate increased investor confidence and indicate that the bull market in BTC will persist. The current BTC OI-Weighted Funding Rate shows a positive sentiment at 0.0038%.
Source: CoinGlass
The next target, now, is being anticipated by analysts to be the $120,000 mark. At its current pace, BTC would achieve this goal in 24 hours. The speed of this rally is similar to past BTC supercycles. These periods are marked by rapid fluctuations in prices to major psychological indicators.
Regulatory Support for Bitcoin
This trend shows that BTC is becoming an attractive asset. A larger number of retail and institutional investors are coming into the market. This has resulted in high demand, putting the price under great pressure. As the U.S. regulatory environment towards crypto is improving, there is still optimism associated with the future of BTC.
The Relative Strength Index of BTC is 66.77, which means the asset has a good bullish momentum, yet it is close to the overbought situation. MACD line stands at 476.43 and is still above the signal line at 961.30, indicating that the upward trend is still being supported. The MACD histogram is 1,437.74, which is also bullish for BTC.
Source: TradingView
The growth of BTC has not slowed down and as institutional interest is on the rise and the overall market position is strong. As BTC approaches the $120,000 mark, analysts are keen to see whether it will continue rising in price. With its favourable regulatory climate shifting in favour of crypto, BTC is likely to experience sustained positive momentum in the future and is a critical asset to pay attention to in the next few days.
Also Read: Bitcoin Breakout Looms as Real Inflows Hit $4.4 Billion, What’s Coming?
