Bitcoin Is Preparing for New Heights
Published: July 03, 2025
Market Overview
As of the end of Wednesday, the cryptocurrency market capitalization approached $3.40 trillion, reflecting a nearly 3% increase within 24 hours. Bitcoin's price momentum is pushing towards the $110,000 mark, which is creating a favorable environment for altcoins, with Ethereum rising by 6% and both Dogecoin and Cardano increasing by over 7%.
Current Bitcoin Performance
Bitcoin surpassed the $109.5K threshold, experiencing a minor corrective pullback of $1,000 at the start of Thursday, which was quickly followed by a rebound to early June highs. Analysts suggest that the historical high of approximately $112K, reached at the end of May, may be tested soon, especially with a high risk appetite in global markets. However, the upcoming US employment report could significantly influence market dynamics.
Market Sentiment and Indicators
The sentiment indicator has risen to 73, indicating a return to the upper limit of the last three months' range, which is seen as a preparatory stage for further upward movement in Bitcoin's price. Notably, 96.7% of Bitcoin's supply is currently in profit, suggesting a potential for increased volatility.
Institutional Interest and ETF Developments
Public companies have outperformed ETFs in Bitcoin purchases for the third consecutive quarter, contributing to Bitcoin's stability. The SEC is accelerating the approval process for crypto asset-based exchange-traded funds (ETFs), having recently approved ETFs for Ethereum and Solana with staking capabilities, as well as the Grayscale fund that includes BTC, ETH, XRP, SOL, and ADA.
Future Projections
Standard Chartered has forecasted that Bitcoin could reach $135,000 by the third quarter and potentially $200,000 by the end of the year, driven by inflows into spot ETFs and corporate purchases. Additionally, the share of decentralized exchanges (DEX) in global spot cryptocurrency trading reached a record 29.65%, indicating a shift in trader preferences towards DEXs due to lower fees and a desire for independent asset storage.