News View Non-AMP

Why is Crypto Market Going Up Today?

Published by
Anjali Belgaumkar and Qadir AK

The cryptocurrency market is back in the green, with Bitcoin making headlines after breaking through the $111,000 resistance level. Earlier today, Bitcoin briefly touched $112,150, crossing its old all-time high by a small margin. Though the price has slightly pulled back to around $111,400, analysts say this move shows strong bullish momentum in the market.

Despite fears of market crashes, wars, and negative news, data from charts, on-chain activity, and macroeconomic trends have pointed to a continued uptrend. Many have been expecting this breakout for months and Bitcoin’s next major target could be around $120,000

At the time of writing, the total cryptocurrency market capitalization has climbed to $3.47 trillion, marking a 3.03% increase over the past 24 hours. Ethereum has also slipped in green, trading at $2,786, gaining over 7% in a day. XRP, Solana, and Cardano are showing upward momentum, with XRP up 5%, Solana rising 4%, and Cardano climbing 6.25% in the same period. 

What’s Next For Bitcoin Price?

Bitcoin’s price is currently hovering close to a key resistance zone, awaiting a breakout above the $111,000–$112,000 level. If the price manages to break and hold above this range, it could trigger a new bullish price target around $111,500, with short-term resistance sitting slightly higher at $112,000. 

On the other side, if Bitcoin fails to break out, it faces support around $107,500, with a deeper support zone near $105,500. At the moment, price action remains mostly sideways on shorter timeframes, forming a symmetrical triangle pattern. 

However, large amounts of liquidity are building just above and below Bitcoin’s current price, raising the possibility of sudden price moves or fake-outs in the short term. Overall, while momentum is still lacking on higher time frames, the market is on edge waiting for Bitcoin’s next decisive move.

FAQs

What is causing crypto to rise?

The crypto market is rising due to a combination of factors: improving macroeconomic sentiment (weakening USD, anticipated Fed rate cuts), increasing institutional adoption, strong trading volumes, and bullish technical indicators for Bitcoin.

Will Bitcoin Price Reach New Highs in July?

Given that Bitcoin briefly touched $112,150 today, surpassing its previous all-time high, it has already reached new highs in July. Analysts now set targets beyond this point, with $120,000 being a likely next short-term resistance.

What is Bitcoin’s price prediction for July?

Based on current market momentum, technical analysis (like the symmetrical triangle pattern and a potential break above $111,000-$112,000), and macroeconomic tailwinds, analysts are eyeing a move towards $120,000 and potentially higher within July.

Anjali Belgaumkar and Qadir AK

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

James Wynn Goes All-In With 40x Bitcoin Short, Is a Big Dump Coming

Just after Bitcoin hit a new all-time high of $112,000, a bold move caught everyone’s…

July 10, 2025

Cardano Price Surges 10%: Is $1 Within Reach?

The Cardano price (ADA) has recently displayed renewed strength, surging nearly 10% in the past…

July 10, 2025

Viral ETH Meme Coin Under $0.0015 Predicted to Hit $0.60 if Ethereum Reaches $7,000 in 2025

Little Pepe ($LILPEPE) is a meme coin on an Ethereum-compatible Layer 2 blockchain that is…

July 10, 2025

Top Coins To Buy And HODL As Nvidia Briefly Surpasses $4T Market Cap

Nvidia briefly surpassed a $4 trillion market cap, spotlighting the booming AI-GPU narrative that’s rippling…

July 10, 2025

Which Crypto To Buy For Longterm As Elon Musk Says ‘America Party’ Will Back Bitcoin (BTC)

Elon Musk’s bold endorsement of Bitcoin through his newly formed America Party is igniting fresh…

July 10, 2025

Crypto Regulations in the British Virgin Islands 2025

The British Virgin Islands (BVI) is a popular jurisdiction of choice for cryptocurrency businesses. It…

July 10, 2025