Bitcoin nears $110K after breaking previous resistance, TIA leads altcoin gains
2025-07-02 18:15:31
Main Idea
Bitcoin approaches $110K after surpassing previous resistance, while TIA leads altcoin gains; market sentiment is influenced by economic data and institutional flows.
Key Points
1. Bitcoin broke past $108,000 resistance, briefly reaching $109,000, but faced a slight pullback to $105,560 during Asian trading hours.
2. Spot Bitcoin ETFs recorded $342M in outflows, ending a 15-day inflow streak, signaling potential institutional pullback.
3. Market sentiment was impacted by US economic data, including a surprise decline of 33,000 jobs in June, raising expectations for a dovish Fed policy.
4. Altcoins saw modest gains, with Celestia (TIA), Sonic, and SPX6900 leading the rally due to network upgrades and potential exchange listings.
5. Bitcoin remains 3.5% below its all-time high, with traders watching key levels like $108,900 for potential bullish continuation or pullback.
Description
Bitcoin showed strength after struggling early on Wednesday, as it neared the $110,000 level after trading above $109,000 as market participants adopted a cautious stance, resulting in subdued trading activity. The total cryptocurrency market capitalisation hovered around $3.4 trillion, showing little directional bias. Bitcoin briefly retreated to $105,560 during early Asian hours after failing to clear resistance the previous day, while the Crypto Fear & Greed Index edged down to 63, still in t...
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