Crypto Bull Run Explodes: Bitcoin, Ethereum, and XRP Skyrocket in Massive Market Surge!

Jakarta, Pintu News – The crypto market is on fire today, with Bitcoin (BTC) approaching its all-time high again and altcoins joining the rally.

On July 10, BTC briefly traded at around $112,152, slightly below its peak in May. This rise was largely driven by a mix of macroeconomic optimism, strong trading activity, and increased interest from institutions.

Bitcoin Approaches ATH Amid Dollar Weakness and Optimism on Fed

Bitcoin’s rise came as investor sentiment improved due to the weakening US dollar and the postponement of trade tariffs.

Read also: Bitcoin Surges 4% to Hit $116K — Is $120K Just Around the Corner?

Expectations of an interest rate cut by the Federal Reserve later this year also boosted risk appetite in financial markets.

As investors begin to turn to alternative assets, Bitcoin benefits from this increased confidence.

Meanwhile, after a successful retest around $104,400, Rekt Capital analysts confirmed that the downtrend has ended, with the next target being $120,000 and higher.

Adding to the bullish mood, Santiment noted that retail FUD has historically often been a marker of breakout moments, where smart money typically buys when fear dominates.

Today’s pattern reflects that trend, signaling further upside potential as BTC trades firmly above $112,000.

Altcoins Join the Rally

The bullish momentum is not unique to Bitcoin. Several altcoins also rallied, led by Stellar (XLM) which jumped 11.7% thanks to renewed interest in its cross-border payment use case.

Lido DAO (LDO) rose 11.1% as demand for liquid staking solutions increased. Meme coins also made a splash in the market – Dogwifhat (WIF) and Pepe (PEPE) both jumped nearly 11%, showing that speculative interest remains high.

Ripple (XRP) gained over 5%, while Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) rallied between 4-6% each, supported by increased trading volumes and general market optimism.

Sentiment was also boosted by corporate support for crypto from companies like GameSquare and SharpLink Gaming.

Short Liquidation Drives Upside

Much of Bitcoin’s current movement is driven by liquidation. In the last 24 hours (10/7), short positions worth $465 million were liquidated, pushing the price higher. Liquidations totaled $529 million, reflecting the strength of the short squeeze.

Bitcoin’s daily trading volume jumped 45% to over $60 billion, while open interest in the futures market rose to $79 billion, signaling continued bullish sentiment.

Read also: Ethereum Surges 7% to $2,900 — Arthur Hayes Says $10,000 Is Just the Beginning!

Crypto Week Begins

Adding fuel to the market rally, the US Congress is set to hold “Crypto Week” on July 14-19, where legislators plan to push for the passage of important crypto-related legislation.

Some of the most highlighted are the CLARITY Act, which aims to clarify jurisdiction between the SEC and CFTC, and the GENIUS Act which focuses on the regulation of stablecoins.

Key figures such as Brad Garlinghouse of Ripple and Brian Armstrong of Coinbase urged Congress to act immediately.

Institutional Support and Macro Trends Power the Rally

Institutional trust is also on the rise, characterized by more and more crypto assets appearing on corporate balance sheets.

The Spot Ethereum ETF has recorded inflows of more than $2 billion, reflecting growing demand for regulated crypto exposure.

Macro trends also played a big role; the weakening US dollar and delayed trade tariffs made risky assets more attractive.

As global stock markets rallied on the back of enthusiasm for technology and AI, crypto markets followed suit, with Bitcoin’s resilience being highlighted as a sign of returning investor confidence.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Crypto Bull Run Ignites Bitcoin, Ethereum, XRP Prices Rally. Accessed on July 11, 2025