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Bitcoin Tops $110K; BONK, FARTCOIN Climb More Than 20%
BTC's upswing brought cheer to the broader market, lifting major tokens such as XRP, ETH, SOL and ADA.
Updated Jul 3, 2025, 2:41 p.m. Published Jul 3, 2025, 9:44 a.m.
What to know:
- Bitcoin surpassed $110,000, reaching its highest level since June 11, driven by significant inflows into U.S.-listed spot ETFs.
- The upswing in bitcoin's price lifted other major cryptocurrencies including XRP, ETH, SOL and ADA, with memecoins BONK and FARTCOIN rising more than 20%.
- Traders are looking the U.S. nonfarm payrolls report, which could influence bitcoin's trajectory and test its historical high of $112,000.
Bitcoin topped the $110,000 mark for the first time since June 11 after more than $407.78 million flowed into U.S.-listed bitcoin spot ETFs on Wednesday and before a key U.S. jobs report due later in the day.
The ETF inflow boosted the lifetime tally to $49.04 billion, according to data source SoSoValue.
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BTC's upswing brought cheer to the broader market, lifting major tokens such as , ether , SOL and ADA . Standout gainers were memecoins BONK and FARTCOIN, which boasted 24-hour gains of over 20%, a sign of increased investor willingness to take risk. The CoinDesk Memecoin Index gained 12.6% while the CoindDesk 20 Index of the largest tokens rose 4.3%.
Traders are looking toward the U.S. nonfarm payrolls data due for release later Thursday while maintaining the constructive outlook.
"The historical high of around $112K, set at the end of May, may be tested for strength or updated before the end of this week, given the fairly high risk appetite in global markets. However, it is worth remembering that the monthly U.S. employment report, due later Thursday, could serve as both a catalyst and an insurmountable obstacle," Alex Kuptsikevich, chief market analyst at the FxPro said in an email.
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Altcoins plunge as bitcoin's $85,000 test triggers $550 million in liquidations
Solana tumbled below $120 to its weakest price since April, while SUI, DOGE and ADA also fell sharply.
What to know:
- Bitcoin is teetering on the brink of falling below $85,000 level, accelerating declines in the crypto market.
- Altcoins such as SOL, Cardano, ADA, SUI and dogecoin led Thursday's drop.
- $550M in liquidations hit derivatives markets, but analysts said the pullback looks like orderly deleveraging rather than full-blown panic.
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