Crypto Market Sees Mixed Gains, Bitcoin Up 0.6%

The crypto market experienced a notable uptick on July 7, 2025, with the vast majority of the top 100 coins by market capitalization and all top 10 coins seeing price appreciation over the past 24 hours. Despite this, the overall cryptocurrency market capitalization fell by 2.3% to $3.44 trillion. The total crypto trading volume stood at $72.4 billion, marking the lowest level in days.

Bitcoin (BTC) led the gains, appreciating by 0.6% to trade at $108,786, although this represented little change over the past four days. Ethereum (ETH) also saw a significant increase, rising by 1.7% to $2,564. Dogecoin (DOGE) was the best performer among the top 10 coins, with a 5.2% increase to $0.1723. Solana (SOL) followed closely, rising by 2.1% to $151. Among the top 100 coins, six saw price drops, with Pudgy Penguins (PENGU) experiencing the highest fall of 7.2% to $0.01514. Celestia (TIA) was the top gainer, with an 11.2% increase to $1.65, followed by SPX6900 (SPX), which rose by 9.9% to $1.33.

Japanese firm Metaplanet acquired an additional 2,205 BTC, bringing its total holdings to 15,555 BTC, valued at approximately 225.8 billion yen ($1.7 billion) at an average purchase price of 14.5 million yen per coin. Mercado Bitcoin, a major Latin American crypto exchange, announced plans to tokenize $200 million worth of real-world assets on the XRP Ledger, highlighting the growing trust in public blockchain infrastructure by institutions.

Blockchain data platform Glassnode noted that the "summer lull" has arrived, with BTC approaching the $110,000 level but volumes dropping. Spot and future volumes were at their lowest point in a year at $5.02 billion and $31.2 billion, respectively. The BTC options market is also echoing this summer slowdown, with implied volatility across all expiries nearing all-time lows. According to 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. The rally on 2 July pushed volatility up to 35% amid broader market optimism following the US-Vietnam trade agreement. ETH options consistently maintained roughly double the implied volatility of comparable BTC options during this period.

At the time of writing, BTC was trading at $108,786, having initially dropped to an intraday low of $107,876 before surging to a daily high of $109,574. Overall, BTC appreciated by 1.2% over the past week and 3.6% in a month. Ethereum was trading at $2,564, increasing from $2,507 to an intraday high of $2,598. ETH increased by 4.1% in 7 days and 3.1% in a month. The crypto market sentiment remained 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, indicating that the market is not overheated or due for a significant correction.

The US stock and bond markets were closed on the Fourth of July and through the weekend, meaning there were no flows in/out of US crypto spot exchange-traded funds (ETFs). On 3 July, BTC spot ETFs recorded inflows of $601.94 million, the highest positive daily flow in six weeks. On the same day, US ETH ETFs recorded inflows of $148.57 million, significantly higher than the 2 July outflow of $1.82. Over the past year, long-time Bitcoin whales, early adopters, miners, and whales have offloaded more than 500,000 BTC, worth some $50 billion. Institutions, including spot Bitcoin ETFs, corporate treasuries, and asset managers, took in nearly 900,000 BTC – nearly double the offloaded amount. According to Edward Chin, co-founder of Parataxis Capital, there is growing activity in crypto-to-stock financing deals, with whales converting BTC into equity exposure through in-kind contributions.

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. The crypto market has increased over the past 24 hours, with the US stock market 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%. Analysts argue that the market is largely consolidating, that eventual dips are typical, and that the prices will see higher levels this year.