Why Is Crypto Up Today? – July 7, 2025

The crypto market is up today. The vast majority of the top 100 coins per market cap and all top 10 coins saw their prices appreciate over the past 24 hours. At the same time, the cryptocurrency market capitalization has fallen 2.3% to $3.44 trillion. The total crypto trading volume is at $72.4 billion, the lowest it’s been in days.

TLDR:

Crypto Winners & Losers

All top 10 coins per market cap have seen their prices increase today.

Bitcoin (BTC) appreciated by 0.6%, currently trading at $108,786. This is largely unchanged over the past four days.

Ethereum (ETH) has increased by 1.7%, currently changing hands at $2,564.

The best performer in this category is Dogecoin (DOGE), with a rise of 5.2% to the price of $0.1723.

Solana (SOL) is the second-best performer, having risen 2.1% to $151.

Looking at the top 100 coins, six have seen their prices drop. The highest fall is 7.2% by Pudgy Penguins (PENGU), trading at $0.01514.

Celestia (TIA) appreciated the most, with the only double-digit rise: 11.2% to $1.65.

It’s followed by SPX6900 (SPX), which increased by 9.9%, changing hands at $1.33.

Meanwhile, Japanese firm Metaplanet bought an additional 2,205 BTC, bringing the total holdings to 15,555 BTC, worth approximately 225.8 billion yen ($1.7 billion) at an average purchase price of 14.5 million yen per coin.

Also, Mercado Bitcoin, a major Latin American crypto exchange, announced plans to tokenize $200 million worth of real-world assets (RWAs) on the XRP Ledger. “Mercado Bitcoin’s integration with the XRPL shows how public blockchain infrastructure is being trusted by institutions and is becoming a reliable foundation for bringing regulated financial products to the market,” said Silvio Pegado, Managing Director, LATAM at Ripple.

‘The Summer Lull Is Here’

Blockchain data platform Glassnode has noted that “the summer lull is here.” While BTC is approaching the $110,000 level, volumes are dropping.

What’s more, spot and future volumes are at their lowest point in a year at $5.02 billion and $31.2 billion, respectively.

Moreover, the BTC options market is “echoing the summer slowdown,” Glassnode says. Implied volatility across all expiries (1 week to 6 months) is nearing all-time lows.

“We’re now pricing some of the lowest vol levels since mid-2023, despite price hovering near ATHs,” the analysts write.

Moreover, per a report by crypto exchange Bybit, in collaboration with Block Scholes, BTC options markets saw a 7-day implied volatility dropping to 26% on 27 June, the lowest level since mid-2023. Then, the rally on 2 July pushed volatility up to 35% “amid broader market optimism following the US-Vietnam trade agreement.”

Also, in this period, ETH options “consistently maintained roughly double the implied volatility of comparable BTC.”

Levels & Events to Watch Next

At the time of writing, BTC trades at $108,786. The price initially dropped to the intraday low of $107,876, surging to the daily high of $109,574, before settling back to the current level.

Overall, the coin appreciated 1.2% over the past week and 3.6% in a month.

Moreover, Ethereum is currently trading at $2,564. Similarly to BTC, ETH increased from $2,507 to the intraday high of $2,598.

It increased by 4.1% in 7 days and 3.1% in a month.

Meanwhile, the crypto market sentiment still remains mostly unchanged within neutral territory, moving between 49 and 55 over the past week. The Fear and Greed Index fell from 55 on Friday to 52 today. Though closer to the greedy zone, the current level doesn’t suggest that the market is overheated or due for a significant correction.

The US stock and bond markets were closed on the Fourth of July, a bank holiday in that country, and through the weekend. This means that there were no flows in/out of US crypto spot exchange-traded funds (ETFs).

On 3 July, BTC spot ETFs recorded inflows of a whopping $601.94 million. This was the highest positive daily flow in six weeks, since 22 May.

On the same day, US ETH ETFs recorded inflows of $148.57 million, significantly higher than the 2 July outflow of $1.82.

Meanwhile, over the past year, long-time Bitcoin whales, early adopters, miners, and whales have offloaded more than 500,000 BTC, worth some $50 billion. At the same time, institutions, including spot Bitcoin ETFs, corporate treasuries, and asset managers, took in nearly 900,000 BTC – nearly double the offloaded amount, per 10x Research data.

According to Edward Chin, co-founder of Parataxis Capital, “we’re seeing whales convert BTC into equity exposure through in-kind contributions,” noting the growing activity in crypto-to-stock financing deals.

As for ETH, while the price is moving sideways, fundamentals are getting stronger. Bitwise CIO Matt Hougan opined that ETH ETFs could see up to $10 billion in inflows by the end of 2025.

Quick FAQ

1. Why did crypto move with stocks today?

The crypto market has increased over the past 24 hours. The US stock market was largely up on the last day of trading on 3 July. The S&P 500 increased by 0.83%, the Nasdaq-100 went up by 0.99%, and the Dow Jones Industrial Average rose by 0.77%. We will not have fresh data until Monday’s closing time.

1. Is this rally sustainable?

Overall, the rally still seems sustainable. Analysts argue that the market is largely consolidating, that eventual dips are typical, and that the prices will see higher levels this year.

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