Altcoins also joined the rally. XRP, Solana, Dogecoin, and Cardano surged between 3% and 9%, while Tron, Sui, Avalanche, and Chainlink posted gains of up to 11%.
“The crypto market is gaining strength with expectations of a July rate cut,” said Edul Patel, CEO of Mudrex. “Bitcoin needs a weekly close above $107,720 to confirm trend strength, with key resistance at $110,900.”
Crypto Tracker
Disappointing US payroll data and the possibility of monetary easing have supported crypto prices. The market now awaits jobless claims and non-farm payrolls data for further direction.Vikram Subburaj, CEO of Giottus, said: “Bitcoin rebounded sharply on the back of Trump’s Vietnam trade deal and renewed interest in Solana’s staking ETF. Spot Bitcoin ETFs saw $407 million in inflows on July 2, reversing earlier outflows. On-chain metrics still show room for further upside.”
Riya Sehgal of Delta Exchange noted that Ethereum saw a clear breakout, rising from $2,375 to over $2,550. “ETH holds a stronger setup than BTC, with resistance at $2,665 and a breakout target of $2,800. Meanwhile, whale accumulation and staking inflows continue despite flat retail activity.”Solana also gained traction after the REX-Osprey Solana Staking ETF launched with $12 million in inflows and $33 million in trading volume, signaling rising institutional interest.“Bitcoin touched $109,700 — its highest in three weeks — buoyed by macro optimism and ETF flows,” said Pi42 Co-Founder Avinash Shekhar. “A breakout above $110K could lead the next leg of this bull cycle, but traders remain watchful of short-term momentum shifts.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)