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Crypto Prices Today: Bitcoin Price Hits $116,919, Ethereum Jumps 6.84% on ETF Inflows
Key Takeaways
Bitcoin surges to $116,919.79, marking a 5.15% gain with strong institutional accumulation.
Ethereum leads altcoin rally, climbing 6.84% to $2,970.08 amid ETF inflows and tokenization narrative.
Cardano posts an impressive 11.68% gain, while Dogecoin jumps 9.67% in memecoin resurgence.
US lawmakers prepare crypto tax policy hearings as part of Republican digital asset push.
Market cap hits $2.3 trillion as accumulation data points to a potential $130,900 Bitcoin target.
Crypto prices today reflect overwhelming bullish sentiment as Bitcoin pushes toward new all-time highs and major altcoins experience significant gains. The global crypto market cap is up 5.68% to $3.66 trillion as of 10:56 AM on July 11, 2025. The surge is a result of strong institutional demand and regulatory optimism, with Bitcoin's market cap now exceeding $2.3 trillion.
Crypto Prices Today
Let's see how the world’s top ten cryptocurrencies performed today:
Bitcoin Reaches New Heights Amid High Accumulation
Bitcoin price today stands at $116,919.79, representing a 5.15% gain in the last 24 hours. The world's largest cryptocurrency boasts a market capitalization of $2.325 trillion with a trading volume of $100.92 billion.
The price hike is driven by institutional accumulation. According to CryptoQuant data, Bitcoin ‘accumulator’ wallets now hold 248,000 BTC, a 71% increase over the past 30 days. Accumulator wallets are those known for long-term holdings and minimal selling. "The surge in demand at higher price levels signals unwavering conviction among investors," analysts noted.
Kushal Manupati, Regional Growth & Ops Lead of South Asia at Binance commented on Bitcoin’s price rally. He noted, “This rally is not purely retail-driven. It reflects the increasing role of virtual digital assets in diversified investment portfolios and a growing recognition of the value of Bitcoin. Momentum is also being supported by advancements in tokenization, clearer regulatory frameworks, and the expanding adoption of Web3 infrastructure.”
Supporting this bullish trend is a $4.4 billion increase in Bitcoin's realized cap, which only rises when coins are moved at higher prices. The sharp increase following BTC's breakout above $113,000 highlights real investment activity rather than mere price speculation.
Ethereum Surges on ETF Momentum and Tokenization Narrative
Ethereum's price currently sits at $2,970.08, up by 6.84%. The second-largest cryptocurrency maintains a market cap of $358.68 billion with a daily trading volume of $35.70 billion.
The rally is attributed to more than $500 million in spot ETH ETF inflows month-to-date in the US. Corporate crypto treasury allocations have gone beyond Bitcoin to include Ethereum.
"ETH has taken the lead in price momentum, rallying off recent lows amid a pickup in derivatives activity and growing enthusiasm around its broader role in settlement and tokenization infrastructure," said Joel Kruger, market strategist at LMAX Group.
Prominent crypto investor Pentoshi noted that in under one month, public companies "have bought enough ETH to offset all ETH minted since the Merge." Thus, highlighting the rising institutional confidence in the world’s second-largest cryptocurrency.
Also Read: Is Bitcoin's Next Stop $140K? Analysts Predict Huge Price Surge After Breakout Confirmation
Other Top Altcoins Post Significant Gains
Here's how other leading tokens performed today:
XRP was up 5.93% to $2.57 with a market cap of $151.88 billion. The token continues to benefit from positive regulatory developments and growing institutional adoption.
Solana maintains its position as a top performer, rising 4.62% to $165.05 with a market cap of $88.47 billion.
BNB (BNB) rose 2.53% at $689.73 with a market cap of $96.07 billion. Notably, Binance founder Changpeng Zhao's family office YZi Labs is set to back a new treasury firm offering investors exposure to BNB. The company has plans to go public in the US.
Cardano (ADA) has risen an impressive 11.68% to $0.6957 with a market cap of $24.62 billion, leading the altcoin charge.
TRON (TRX) soared 1.12% at $0.2948 with a market cap of $27.94 billion, maintaining steady growth.
Dogecoin (DOGE) has seen a 9.67% increase to $0.1986 with a market cap of $29.80 billion.
Stablecoins Maintain Stability Amid Market Volatility
Tether (USDT) and USD Coin (USDC) have seen slight dips of around 0.03% for the first time in July 2025. The short-term volatility can be due to Ant International’s denial of a partnership with Circle. Currently, the tokens have market caps of $159.12 billion and $62.85 billion, respectively.
Also Read: 3 Coins Poised to Soar Like Dogecoin’s 2021 Rally with 20,000% Gains by 2025
What's Driving Crypto Prices Today?
Several key developments are influencing today's crypto price movements:
US Lawmakers Focus on Crypto Tax Policy
The House Committee on Ways and Means and the Oversight Committee have scheduled a hearing for July 16. It is scheduled to discuss affirmative steps needed to place a tax policy framework on digital assets. The event is dubbed ‘ensuring digital asset policy built for the 21st century.’
Malta's Crypto Licensing Under EU Scrutiny
The European Securities and Markets Authority (ESMA) released a review of Malta's crypto asset service provider authorization process, highlighting several shortfalls. The review comes over a year after the MiCA framework came into forc. This represents a major milestone in EU digital asset regulation.
Federal Reserve Considers Interest Rate Cuts
San Francisco Federal Reserve President Mary Daly expressed belief that there may be two interest rate cuts this year, noting that tariff impacts on prices are becoming milder than expected. "I think there could be two rate cuts, but everyone's expectations are uncertain, considering implementing rate cuts in the fall," Daly remarked.
Rise in Money Supply
Record US equity performance, a sharp rise in money supply, and expansive fiscal policy, particularly the ‘One Big Beautiful Bill Act,’ are key drivers behind increasing instittual demand for crypto. The Congressional Budget Office projects this legislation will add $3.3 trillion to the US deficit over the next decade. Thus, amplifying expectations of continued monetary expansion.
According to Ryan Lee, Chief Analyst at Bitget Research, “Given these conditions, Bitcoin is well-positioned to break its previous high in July, with upside potential toward $120,000 by month-end. ETH could test $3,000 by the end of July, though market volatility remains a factor.”
Looking ahead, Bitget maintains a bullish outlook, expecting Bitcoin to mark a new all-time high before year-end.
Pakistan Advances Digital Currency Plans
Pakistan's central bank is preparing to launch a digital currency pilot and finalize regulations for virtual assets. Governor Jameel Ahmad stated that the country is advancing the modernization of its financial system and enhancing its central bank digital currency capabilities.
Also Read: Crypto News Today: Coinbase Launches Off-Exchange Settlement, Bhutan Moves $23M in BTC, CZ Backs BNB IPO Effort
Conclusion
Today's crypto market shows strength. Bitcoin is pushing toward a new all-time high above $116,000 as major altcoins post significant gains. The combination of institutional accumulation, regulatory clarity efforts, and growing corporate adoption continues to drive market optimism.
As Kushal Manupati, Regional Growth & Ops Lead of South Asia at Binance puts it, “These new all-time highs, reinforces the message that digital assets are no longer just for a select few, they are foundational to the future of technology and finance. The challenge now is to sustain this momentum responsibly, with a focus on compliance, transparency, and long-term value creation.”
US lawmakers prepare to discuss crypto tax policies and international regulators refine their approaches. The coming weeks will be crucial in determining the market's next phase of development. Investors should remain vigilant for security risks and regulatory developments that may impact price dynamics.
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FAQs
1. Why is Bitcoin price surging to new highs?
Bitcoin's surge is driven by unprecedented institutional accumulation, with accumulator wallets increasing holdings by 71% over the past 30 days. Real capital inflows totaling $4.4 billion in realized cap increases demonstrate genuine investment activity rather than speculation.
2. What's driving Ethereum's 6.84% gain today?
Ethereum's rally is fueled by over $500 million in spot ETF inflows this month, expanding corporate treasury allocations, and growing enthusiasm around its role in settlement and tokenization infrastructure.
3. What is the next Bitcoin price target?
Analysts point to $130,900 as the next significant resistance level based on the MVRV ratio reaching the 2.75 threshold that historically marks the start of broader distribution phases.
4. What impact do upcoming US crypto tax hearings have on prices?
The July 16 hearing on crypto tax policy represents part of a broader Republican effort to advance digital asset legislation, potentially providing much-needed regulatory clarity that could boost institutional confidence.
5. Why is crypto market up today?
The crypto market is up today due to a combination of favourable factors. For instance, the massive institutional accumulation (Bitcoin accumulator wallets up 71% in 30 days), over $500 million in ETH ETF inflows this month. The upcoming US crypto tax policy hearings signaling regulatory clarity, and Federal Reserve rate cut expectations also have driven an uptrend.
