Bitcoin hits a weekly high of $ 110,000

Bitcoin BTC $108,192.57 Bitcoin 0.00% Market capitalization $2.15 trillion VOL. 24 hours $0.39 billion reached a new three-week high on July 3, testing the $ 110,000 level amid rising global money supply (M2), which has updated its historic high and exceeded $ 55 trillion. According to analysts, this movement is attributed to overall macroeconomic liquidity, which is gradually flowing into risky assets, including cryptocurrencies. However, to break through to new all-time highs, experts believe that a sustained external catalyst is needed, such as greater certainty about the Fed’s future policy or further inflows of investment into ETFs.

The cryptocurrency market remains influenced by the actions of institutional players. It is their investments that support the growth of bitcoin’s value, and it is their further activity that determines the possibility of breaking out to new price records. It is noteworthy that on July 1, for the first time in two weeks, outflows were recorded from bitcoin ETFs, which could indicate doubts among investors. However, the next day, inflows to exchange-traded funds reached a new high, which had a positive impact on the bitcoin exchange rate.

Among the factors that pushed the market upward, analysts point to a number of geopolitical and economic events. In particular, US President Donald Trump’s statements about a new trade agreement with Vietnam, Ripple’s plans to obtain a federal banking license in the US, and expectations of a key rate cut by the Federal Reserve after mild statements by its representatives. All this creates a favorable background for the cryptocurrency market.

Experts also point out the growing activity in the altcoin market. Ethereum ETH $2,516.88 Bridged Ether (StarkGate) 0.10% Market capitalization $77.29 million VOL. 24 hours $0.39 billion added more than 8% per day and rose above $ 2,600. According to Zach Pandle, head of research at Grayscale, the growing popularity of cryptocurrency ETPs has increased investor confidence in altcoins, and the increase in regulatory certainty in the United States is contributing to the inflow of new users and capital. The record volume of ETH on wallet addresses is also worth noting — 22.75 million ETH as of the end of June, which is 36% more than a month earlier.

In addition, according to CryptoQuant analysts, there is a new maximum in the volume of liquid Ethereum staking — more than 35.5 million ETH. A significant part of this volume belongs to institutional investors and ETFs that expect further price growth. Against this backdrop, market experts do not rule out that Ethereum may continue to grow in the near future, and the cryptocurrency market is preparing for new possible highs.