Crypto Chaos: Prices Soar, Billionaires Sell

by

Well, shucks, folks! The cryptocurrency market has gone plumb wild! In the past 24 hours, Bitcoin (BTC) has surged to a new all-time high, briefly crossing $112,000 before retreating to $111,255. That’s a mighty fine increase of over 2% on Wednesday, if I do say so myself. And let’s not forget Ethereum (ETH), which posted an even stronger rally, rising 7% and crossing $2,700. 🚀

Other altcoins that traded in positive territory included Ripple (XRP), up nearly 5% and trading around $2.41. Solana (SOL) is up almost 4%, trading around $157, while Dogecoin (DOGE) is up 5.44% at $0.179. And that’s not all, folks! Cardano (ADA), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Toncoin (TON), Litecoin (LTC), and Polkadot (DOT) also registered substantial increases. 🤠

Bitcoin (BTC) Races To New All-Time High 🏎️

Bitcoin (BTC) surged to a new all-time high, briefly crossing $112,000 on Coinbase before retreating and settling at $111,255. That’s a mighty fine feat, if I do say so myself. And what’s behind this surge, you ask? Well, it seems investors are finally recognizing BTC’s potential as a hedge against inflation and the uncertainties that haunt fiat currencies. 💸

“For the asset’s proponents, the global situation is exactly why they would have bought the asset in the first place. In the U.S., there is growing awareness that the fiscal situation is unsustainable and that the country lacks the capacity for reform.” 🤔

BTC rose over 2% on Wednesday, but has retreated during the current session, with the price marginally down. The flagship cryptocurrency has registered a 20% year-to-date increase, with other altcoins registering similar increases in the past 24 hours. ETH is up over 5%, while XRP and SOL are up over 3% in the past 24 hours. 📈

Cathie Wood Sells $47.9M Of Crypto Stock 🤑

Ark Investment Management head Cathy Wood sold nearly $48 million worth of crypto shares over the past week. The stock in question had surged over 37% in the past month. Wood’s investment strategy has always revolved around targeting emerging tech companies in sectors like artificial intelligence (AI), blockchain, robotics, and biomedical technology. 🤖

“During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms, including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing.” 💻

Emirates Partners With Crypto.com To Enable Crypto Payments ✈️

Dubai-based Emirates has signed a Memorandum of Understanding (MoU) with Crypto.com to accept payments by integrating the exchange’s crypto payments functionality with its payment systems. According to the official announcement, the integration will be completed next year. Emirates has been working on plans to implement Bitcoin (BTC) and crypto payments since 2022. 📅

“Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to meeting evolving customer preferences, in addition to tapping into younger, tech-savvy customer segments who prefer digital currencies.” 💸

Bitcoin (BTC) Price Analysis 📊

Bitcoin (BTC) decisively broke above $110,000 on Wednesday as it surged to a new all-time high on Coinbase. The flagship cryptocurrency started the week in the red, dropping 0.88% to $108,273. The price fell to a low of $107,446 on Tuesday but recovered to register an increase of 0.62% and settle at $108,942. Bullish sentiment intensified on Wednesday as the price rallied to a new all-time high before retreating and settling at $111,255. 📈

Analysts believe several factors pushed BTC to a new all-time high on Wednesday. Institutional adoption and ETF inflows have continued, driving positive market sentiment. Bitcoin ETFs have registered over $14 billion in net inflows for the year. Additionally, public companies like Strategy have continued accumulating BTC, driving up demand for the asset. 📊

Ethereum (ETH) Price Analysis 📈

Ethereum (ETH) continued its march towards $3,000, briefly crossing $2,800 during the ongoing session. The world’s second-largest cryptocurrency reached an intraday high of $2,824 during the ongoing session before declining to current levels. The broader market rally has seen bullish sentiment around ETH return, as it soared past key levels. 🚀

ETH registered a notable increase on Sunday (June 29), rising 2.57% to $2,500. However, it lost momentum on Monday after facing selling pressure and volatility, and fell 0.55% to $2,486. Selling pressure intensified on Tuesday as the price dropped over 3% and settled at $2,407. ETH recovered on Wednesday, rising nearly 7% to $2,572. 📈

Solana (SOL) Price Analysis 🌟

Solana (SOL) registered a substantial rally on Wednesday as risk-on sentiment returned. The altcoin extended its gains for a third consecutive day, finally clearing the resistance around $152-$153. Despite the positive sentiment, SOL faces a significant hurdle at $160, a level at which it has faced rejection. 🚫

SOL ended the previous weekend on a positive note, rising nearly 2% to $153. It faced volatility and selling pressure on Monday as sellers attempted to overwhelm buyers. Despite the selling pressure, SOL rose 1.01% and settled at $154. SOL lost momentum on Tuesday, falling over 5% to go below $150 and settle at $147. 📉

Dogecoin (DOGE) Price Analysis 🐕

Dogecoin (DOGE) traded in positive territory the previous weekend, rising nearly 1% on Saturday and 3.62% on Sunday to settle at $0.169. Despite the positive sentiment, it was back in the red on Monday, dropping over 2% after failing to cross the 20-day SMA. Selling pressure intensified on Tuesday as the price fell 4.54% and settled at $0.157. 📉

DOGE recovered on Wednesday, rising over 7% to cross the 20-day SMA and settle at $0.168. Buyers retained control on Thursday as the price reached an intraday high of $0.176 before settling at $0.172, ultimately registering an increase of 2.01%. 📈

Aptos (APT) Price Analysis 🔍

Aptos (APT) started the previous week in the red, dropping 1.43% on Monday and settling at $4.88 after failing to cross the 50-day SMA. Selling pressure intensified on Tuesday as APT plunged over 8%, slipping below the 20-day SMA and settling at $4.49. 📉

Despite overwhelming selling pressure, the price recovered on Wednesday, rising nearly 6% to cross the 20-day SMA and settle at $4.74. APT registered a marginal decline on Thursday, losing momentum after facing selling pressure and volatility. 📊

Internet Computer (ICP) Price Analysis 💻

Internet Computer (ICP) registered a sharp jump the previous weekend, rising 1.89% on Saturday and over 4% on Sunday to cross $5 and settle at $5.07. However, it lost momentum on Monday, dropping over 3% to $4.91. Selling pressure intensified on Tuesday as the price fell over 4% and settled at $4.70. 📉

Despite the selling pressure, ICP made a strong recovery on Wednesday, rising nearly 7% to reclaim $5 and settle at $5.02. The price was back in the red on Thursday, registering a marginal decline after reaching an intraday high of $5.14 to settle at $5.01. 📊

Read More

2025-07-10 19:33