Bitcoin surges to $110,500 before consolidation; Ethereum gains momentum

Bitcoin price today, Friday, July 4, 2025: The flagship cryptocurrency, Bitcoin (BTC), briefly reclaimed $110,500 levels, merely1.2 per cent shy of its all-time high levels, on Friday before retreating as the selling pressure emanated from the stronger-than-expected US jobs data, which dampened hopes of an imminent interest rate cut by the US Fed.  Bitcoin, however, has remained above the $109,000 mark as bulls maintain control despite brief selling pressure from US nonfarm payroll data, said analysts.

 

At last check, Bitcoin was trading at around $109,122.86, up 0.13 per cent, with a 24-hour trading volume of $48.43 billion, according to data from CoinMarketCap. The bellwether cryptocurrency fluctuated between $108,811.86 - $110,541.46 during the same period. Bitcoin’s market capitalisation stood at approximately $2.16 trillion, maintaining its position as the most valuable digital asset.

 

Notably, Bitcoin scaled its all-time high of $111,970 on May 22 this year.

ETF inflows, macro factors to drive Bitcoin

Bitcoin, Vikram Subburaj, CEO, Giottus, said, is trading with sustained momentum driven by strong ETF inflows in the US. "A stronger-than-expected US jobs report has, however, dampened hopes of an imminent interest rate cut. This caught the market off-guard, with expectations now shifting towards a September rate cut rather than July," said Subburaj. 

 

Subburaj expects the flagship currency to consolidate below $112,000 for a while until macro and trade conditions improve. Altcoins, he said, will outperform Bitcoin as long as it stays above $108,000.

 

That said, the data from The Block reveals that 98.9 per cent of Bitcoin holders are currently profitable (In The Money). "Such a high percentage 'In the Money,' reflects strong market confidence, suggesting an extended rally," said Edul Patel, Co-founder and CEO of Mudrex.

Ethereum gains momentum, altcoins mixed

Meanwhile, Ethereum (ETH) was also gaining traction, with whales accumulating over 800,000 ETH. Last check, it was seen trading around $2,573, higher by 0.12 per cent, with a 24-hour trading volume of $18.87 billion. Ethereum has fluctuated in the range of $2,566.99 - $2,635.19 in the last 24 hours.

 

If ETH holds above $2,500, Patel believes that it may move toward $2,700, supported by rising institutional interest and improving on-chain dynamics.

 

Among the other major popular cryptocurrencies Sui (SUI) was trading higher by 3 per cent, and Binance Coin (BNB) by 0.11 per cent, while, Hyperliquid (HYPE) was trading lower by 2 per cent, Cardano (ADA) declined by 0.15 per cent. Solana (SOL) traded lower by 1.24 per cent, and Ripple (XRP) by 0.63 per cent. Meanwhile, the US dollar-pegged stablecoin Tether (USDT) remained flat at $1.