Bitcoin almost broke its all-time high this week

10th July 2025 • 10 mins read

This Week’s Recap

Bitcoin Market Analysis

Over the past seven days, Bitcoin traded within a tight range, around at $108,800 on July 3 and dipping to a weekly low of $107,470 on July 4. Between July 5 and July 8, prices oscillated between roughly $107,200 and $109,200 – finding support just above $107,700. A renewed burst of buying on July 10 pushed Bitcoin above $110,000, and current sitting at $111,007 on July 9, approaching to break new all-time highs.

Source: https://altfins.com/technical-analysis

Momentum indicators remained neutral to mildly bullish throughout this consolidation. The 14-day RSI hovered between 60 and 65, indicating neither overbought nor oversold conditions, while the MACD histogram stayed in positive territory without sharp acceleration. Trading volume accelerated after the early-week consolidation, suggesting market participants are awaiting a fresh catalyst to push it above $112,000.

Key levels to watch include $108,000 on the downside; if that support breaks, a deeper pullback toward the 200-day simple moving average near $96,600 or the $100,000 round-number floor could follow. On the upside, $112,000 remains the immediate resistance and all-time high; a sustained daily close above that on rising volume would signal a bullish breakout targeting $120,000. Until one of these boundaries gives way, range-bound trading between $108,000 and $112,000 is likely to persist.

On the surged to $111,400, just below its May high of $112,000, while over $425 million in leveraged short positions were liquidated across derivatives markets. During that same move, a flash short squeeze on Binance Futures triggered more than $7.8 million in liquidations in under 60 seconds, unleashing a wave of buy orders and sharply lifting the price.

Source: https://www.coinglass.com/LiquidationData 

Year-to-date through early July, spot Bitcoin ETFs have drawn in $14.4 billion of fresh capital, underscoring the growing preference among institutional and retail investors for regulated, exchange-listed vehicles. In just the first three weeks of 2025 (Jan 13–Feb 5), these funds amassed $4.4 billion, more than doubling the $1.6 billion raised over the same period in 2024, and on July 7 alone they took in $216.6 million in net inflows. Leading the charge, Fidelity’s Wise Origin Bitcoin Trust added $183 million in one session, lifting its assets under management to roughly $20.8 billion, while BlackRock’s iShares Bitcoin Trust remains the biggest single line item in the space.

Source: https://cryptoquant.com/

Meanwhile, over 135 publicly traded companies now report holding Bitcoin on their balance sheets, a group that collectively controls nearly 730,000 BTC, or about $87 billion at current prices. The roster spans long-time believers like Strategy Inc. (formerly MicroStrategy), which pioneered the treasury reserve model, as well as newer entrants such as Twenty One Capital, Metaplanet, and major corporates like Tesla and Block. Together, these corporate treasuries represent roughly 3.7 percent of Bitcoin’s total supply, illustrating how strategic allocations by public firms have become a material driver of demand.

Ethereum Market Analysis

Over the past seven days, Ethereum was around at $2,620 on July 3 but dipped to about $2,490 on July 5. From July 6 to July 8, it bounced between roughly $2,500 and $2,650, with the 200-day simple moving average at around $2,484 capping gains. On July 10, ETH pushed above that average, briefly touching $2,780, is currently sitting at $2,776.

Momentum indicators stayed neutral to slightly bullish. The 14-day RSI hovered in the mid-50s, meaning it wasn’t overbought or oversold, while the MACD histogram turned positive after a modest bullish crossover. Trading volume held steady within the week’s range, suggesting traders are waiting for a clear catalyst.

Watch support at $2,400 and deeper backing near $2,100, with immediate resistance at $2,760 and a longer-term target of $3,000. Breaking above the 200-day SMA at $2,516 looks like a textbook resistance breakout, buyers have absorbed supply and opened the door to a possible continuation of the uptrend.

Corporate treasury plays stole the show as BitMine Immersion Technologies raised $250 million to build an ETH reserve, sending its shares up roughly 3,000 percent over five trading days before profit-taking kicked in. Soon after, Blockchain Technology Consensus Solutions announced a $100 million plan via equity, convertible debt, and borrowing on the Aave protocol to buy more ETH, sparking a 100 percent-plus jump in its stock and underlining the trend of public companies treating Ethereum as a strategic asset.

Regulated ETF inflows also underpinned Ethereum’s appeal. Over the week, ETH gained about 8.4% thanks to rising institutional demand in both Bitcoin and Ethereum-focused funds, helping it test the $2,700 resistance zone, which shows how ETF products are cementing Ethereum’s role in mainstream portfolios.

In a surprising turn, Trump Media & Technology Group filed an S-1 with the SEC for a “Crypto Blue Chip ETF” that would track Bitcoin, Ethereum, Solana, and other major tokens. This pivot from past skepticism has sparked debate about conflicts of interest and regulatory fairness, and it could drive fresh retail and institutional capital into ETH, fast-tracking its shift from a niche protocol to a mainstream investment.

Mark Your Calendars

Economic Data Releases:

  • July 15, 2025 (Tuesday): Consumer price index
  • July 15, 2025 (Tuesday): Core CPI
  • July 16, 2025 (Wednesday): Producer price index
  • July 16, 2025 (Wednesday): Core PPI

Token Unlock

  • July 12, 2025: APT (APT) unlocks $52.03 m (1.75 % of market cap)
  • July 14, 2025: STRK (STRK) unlocks $15.57 m (3.53 % of market cap)
  • July 15, 2025: SEI (SEI) unlocks $14.76 m (1.00 % of market cap)
  • July 15, 2025: EIGEN (EIGEN) unlocks $1.62 m (0.41 % of market cap)
  • July 16, 2025: ARB (ARB) unlocks $33.25 m (1.87 % of market cap)