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    Home»Investment Tips»Cryptocurrency market today: Bitcoin holds near $107k amid tariff caution, Altcoins see mixed moves
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    Cryptocurrency market today: Bitcoin holds near $107k amid tariff caution, Altcoins see mixed moves

    BuzzNewsBy BuzzNewsJuly 1, 2025No Comments3 Mins Read
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    Cryptocurrency market today: Bitcoin holds near 7k amid tariff caution, Altcoins see mixed moves
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    Cryptocurrency market today: Bitcoin holds near $107k amid tariff caution, Altcoins see mixed moves

    The cryptocurrency market traded largely lower on Tuesday, with Bitcoin hovering just under $107,000 as investors stayed cautious ahead of the July 9 US tariff decision.As of 11:50 am IST, Bitcoin was down 1.2% at $106,984 after touching an intraday high of $108,317. Ethereum declined 1.7% to $2,460. The global crypto market capitalisation fell 1.12% to $3.3 trillion, according to CoinMarketCap.Altcoin performance was mixed. XRP, Solana, Tron, and Monero gained up to 1.5%, while BNB, Dogecoin, Cardano, Hyperliquid, Chainlink, Avalanche, Litecoin, and Shiba Inu dropped as much as 5.5%, according to an ET report.“Bitcoin is holding steady around $107,000 as traders weigh the upcoming July 9 US tariff decision,” said Vikram Subburaj, CEO of Giottus. “Despite the cautious undertone, derivatives activity suggests underlying bullish pressure. Perpetual funding rates have flipped positive across major exchanges, indicating a build-up in leveraged longs.”Liquidity data shows a cluster of short positions near $107,500, seen as a key inflection point. A breach could trigger a squeeze toward $111,000.Riya Sehgal, Research Analyst at Delta Exchange, noted signs of short-term weakness despite Bitcoin recently closing its highest monthly candle ever. “The price structure has turned fragile post-June 30, with lower highs and lows, and it’s now trading below its 21- and 51-day simple moving averages. The $108,000 breakout attempt failed, with immediate support seen at $106,800–$106,500,” she said, as quoted ET.Ethereum hovered near its 21-day SMA. A drop below the 51-day SMA at $2,466 could indicate further consolidation.Still, investor confidence appeared strong. On June 30, Bitcoin saw inflows of $102 million, with BlackRock purchasing 1,040 BTC. Ethereum added $31.8 million in inflows, with Bloomberg assigning 95% approval odds for ETFs linked to XRP, Solana, and Litecoin.“Bitcoin’s current consolidation near $107,000 reflects a recovery from recent dips below $100,000, supported by institutional demand and whale accumulation,” said Sathvik Vishwanath, Co-Founder and CEO of Unocoin. “A decisive breakout above $110,000–112,000 could propel BTC toward $125,000. Failure to break out might lead to a retest of the $100,000 mark.”He added that ETF inflows and expectations of US Fed rate cuts are driving long-term bullish sentiment, though geopolitical risks and short-term volatility remain concerns.The CoinDCX Research Team said Bitcoin continues to consolidate below resistance with rising bearish pressure, while Ethereum is losing momentum. “However, altcoins like XRP, BNB, SOL, and TRX are showing relative strength,” the team noted.Bitcoin Cash and Algorand rose over 4%, while Pudgy Penguins and Four gained 3.3% and 2%, respectively. On the downside, SPX6900 dropped over 11%, Maple Finance fell 9.4%, and DeXe slid 8.5%.Despite the correction, trading volumes were elevated—up nearly 20%.Among major developments, American Bitcoin Corp., backed by Donald Trump’s sons and mining firm Hut 8, raised $215 million to acquire more Bitcoin. Germany’s Sparkassen group announced plans to launch crypto trading for retail investors by mid-2026.The US SEC recently acknowledged an amendment to Grayscale Digital’s large-cap fund ETF conversion. Bloomberg also reported increasing odds of ETF approvals for spot XRP, SOL, and LTC.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

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