Cryptocurrency Market Surges 10% as Bitcoin Hits $112,014

The cryptocurrency market experienced a notable uptrend during the Asian session on July 10, 2025, driven by improved investor sentiment and positive news. Bitcoin (BTC) reached a new all-time high, surpassing $112,000, while Ethereum (ETH) broke above the $2,800 mark, catalyzing gains across the altcoin sector. Notable performers included Pudgy Penguins (PENGU), which soared 31%, and Dogwifhat (WIF), up 13%, alongside Stellar (XLM), Ethena (ENA), and Sui (SUI).

Bitcoin’s price surged to a record high of $112,014, fueled by substantial U.S. investor demand, which has the Coinbase Premium Gap climbing. The breakout was supported by increased ETF trading volumes and positive adoption news. Bulls now have fresh support at $110,000, with analysts suggesting a potential short-term surge past $115,000 to $120,000.

Ethereum emerged as a focal point of the bounce on Wednesday and Thursday as ETH broke above $2,800. A notable aspect is the futures market activity. Glassnode analysts noted a rare event where Ethereum’s 24-hour futures volume surpassed Bitcoin’s. This signals potential rotation and may precede ETH-specific catalysts. If bulls continue higher, ETH could break to its all-time high above $4,000.

The BNB (BNB) price recorded a significant uptick, reaching $673, approximately 15% below its all-time high of $793. The price came amid the BNB Foundation’s 32nd quarterly burn, which removed 1,595,599.78 BNB valued at $1.024 billion. Trends on BNB treasury are also adding to the coin’s bullish outlook. BNB’s gains see it trend as one of the coins to watch in coming weeks.

Pudgy Penguins (PENGU) outpaced all the 100 largest coins by market cap, trading near $0.019 after a 31% surge. The price increase is attributed to heightened community anticipation amid listings on trading platforms, including eToro. The SEC has acknowledged the filing for Canary Spot PENGU ETF.

Dogwifhat (WIF) recorded a 13% gain, making it the second-best performing altcoin, with its price at $0.96. The surge is driven by renewed meme coin enthusiasm and technical breakout patterns, with buyers eyeing the $1 psychological barrier. Increased trading volume and positive sentiment on social platforms have fueled the rally. A breach above $1 could trigger further upside momentum.