BTC Crosses $110,000 Mark While BONK and FARTCOIN Rally More Than 20%.

Bitcoin Tops $110K, Sparks Rally Across Crypto Market

Bitcoin crossed the $110,000 mark on Wednesday for the first time since June 11, fueled by sizable inflows into U.S.-listed spot bitcoin ETFs and optimism ahead of the upcoming U.S. employment report.

Spot bitcoin ETFs attracted $407.78 million in new investments during the session, pushing total inflows to $49.04 billion, according to figures from SoSoValue.

Bitcoin’s momentum spilled into the broader crypto market, lifting prices for several major tokens. XRP traded at $2.2187, ether stood at $2,498.57, Solana changed hands at $146.08, and Cardano reached $0.5736. Memecoins BONK and FARTCOIN saw particularly strong gains, each surging over 20% in the last 24 hours. The CoinDesk Memecoin Index jumped 12.6%, while the CoinDesk 20 Index, which tracks top digital assets, climbed 4.3%.

Market attention is now fixed on the release of the U.S. nonfarm payrolls report on Thursday, which could sway investor sentiment.

“The previous high around $112K from late May might be revisited or even surpassed by week’s end if the appetite for risk remains strong across global markets,” said Alex Kuptsikevich, chief market analyst at FxPro, in a note. “Still, traders should remember that Thursday’s U.S. jobs report could serve as either a tailwind or a stumbling block.”

About The Author

ctleditor

See author's posts