Bitprismia

Why is crypto up today? BTC short squeeze, ETF inflows & more

2025-07-10 20:19:16

Main Idea

The crypto market experienced a surge driven by a BTC short squeeze, ETF inflows, and significant whale activity, with ETH and SUI leading altcoin gains.

Key Points

1. Bitcoin (BTC) reached a record high of $112,025 on Bybit, fueled by a spot BTC ETF daily inflow of $218.04 million and a short squeeze targeting $111.5K.

2. Ethereum (ETH) and Sui (SUI) led altcoin gains, with ETH attracting $358 million in whale purchases as its price jumped to $2.8K.

3. Other tokens like Solana (SOL), Cardano (ADA), and select memecoins also posted gains, with some sectors seeing 10% returns.

4. The market's next movement may hinge on June inflation data and Fed rate cut expectations, with September cuts being priced in.

5. Whale activity and leveraged short liquidations played a significant role in the market's upward momentum.

Description

Whales grabbed over $350M ETH during crypto market surge.

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$ETH
$3017.10
+8.54%
$BTC
$118065.1
+6.32%