Bitcoin Bullish Again? Potential All-Time High in Sight: Analysis

2025-07-03 21:53:32

Main Idea

The crypto market shows relative calm with Bitcoin and Ethereum experiencing modest gains, while traditional markets rally after stronger-than-expected U.S. labor data.

Key Points

1. Bitcoin gained 0.4% in the past 24 hours, trading near $109,800, while Ethereum climbed above $2,590.

2. The U.S. Department of Labor reported 147,000 new non-farm jobs in June, far above the 110,000 forecast, with the unemployment rate falling to 4.1%.

3. Traditional markets rallied with the Dow rising 75 points (0.17%), the S&P 500 climbing 0.38%, and the Nasdaq leading with a 0.62% gain.

4. Bitcoin's RSI at 60 indicates healthy bullish momentum without approaching overbought territory, while Ethereum's RSI at 57 places it in neutral territory.

5. Grayscale called the SEC's trading pause on its ETF holding Solana and XRP 'unexpected', citing the changing regulatory landscape.