XRP News Today: Bitcoin Surges 11% to $112,152 on Fed Rate Cut Hopes, Weak Dollar

The cryptocurrency market experienced a significant surge on July 9, with Bitcoin reaching a new all-time high of $112,152. This surge was driven by a combination of factors, including a weakening U.S. dollar, postponed tariff impositions, and anticipated Federal Reserve rate cuts by the end of the year. These macroeconomic conditions fueled interest in risky assets, leading to a bullish wave that affected several altcoins, including Ethereum and XRP. Following a pullback around the $104,400 mark, targets of $120,000 and beyond have reemerged as attainable goals. The upward momentum was further accelerated by liquidations of a total of $529 million in short positions within 24 hours, with Bitcoin accounting for $465 million of that amount.

Investor confidence in the cryptocurrency market has been bolstered by the Federal Reserve’s monetary policy expectations and the weakening dollar index. The slowing pace of inflation has brought forward the possibility of rate cuts, making risk-based assets more attractive. Bitcoin’s daily volume surpassing $60 billion, and $79 billion in open positions in futures, indicated that price movements were well-supported by high participation. Blockchain data provider highlighted that historically, panic signals among retail investors might pave the way for “smart money” to make purchases. This pattern signified the current trend as a typical harbinger of upward market breakouts.

Institutional interest in the cryptocurrency market is also on the rise. Spot Bitcoin and Ethereum ETFs have seen billions of dollar inflows, highlighting a growing demand for crypto-based products that comply with regulatory frameworks. Companies involved in gaming and sports, revealing plans to hold cryptocurrencies on their digital balance sheets, are reshaping publicly listed companies’ perspectives of the sector. Both macroeconomic trends and institutional investments are bolstering investor confidence in short-term price targets.

The optimism driven by Bitcoin quickly spread across the altcoin market. Stellar, emphasized for its cross-border payment usage, gained 11.7%, while rising demand for liquid staking solutions pushed Lido DAO up by 11.1%. Meme coins, which often reflect speculative interest, such as Dogwifhat and Pepe, saw approximately 11% jumps. XRP rose by 5%, while Solana, Dogecoin, and Cardano saw increases ranging from 4% to 6%. The persistent rise in volumes supported these technical signals.

Another catalyst supporting the market’s upswing was developments from Washington. During the “Cryptocurrency Week” scheduled for July 14-19, the U.S. Congress plans to make progress on the CLARITY Act, which aims to clarify the sharing of authority between securities and commodities regulators, and the GENIUS Act targeting stablecoins. Calls from Ripple CEO and Coinbase CEO have heightened pressure on lawmakers. The proposed bills have the potential to reduce regulatory uncertainty and add additional credibility to the crypto market.

Bitcoin’s rally has lifted the entire crypto market, with the total market capitalization reaching $3.47 trillion, a level last seen in June 2025. Ethereum, the second-largest cryptocurrency, surged 6% to $2,780.39, its highest level in a month. However, not all perspectives are uniformly bullish. Despite the record price, BTC’s trading activity remains “oddly quiet,” suggesting underlying complexities in the market. This tempered view underscores the volatility inherent in cryptocurrencies, even as institutional backing grows.

Analysts are optimistic about Bitcoin’s trajectory. According to the analyst's forecast, Bitcoin has performed far better than the doom-and-gloom proponents had been predicting. She would not be surprised to see Bitcoin surpass $150,000 by the end of the year. Economist emphasized the critical timing of the breakout, noting that without this surge, the market might have faced a delay until October. Other analysts, citing wave count analysis and bullish patterns, predict a near-term target of $120,000, with some eyeing $130,000 to $150,000 in the coming months. Yet, risks remain. BTC’s volatility, as noted by analyst, has historically preceded large moves, but a failure to sustain above $110,000 could trigger a pullback. Geopolitical tensions, like Japan’s 25% tariff increase effective August 1, could introduce uncertainty, though Bitcoin’s safe-haven status may help mitigate it.

Bitcoin’s ascent to $112,000 marks a new chapter in its journey from a niche digital asset to a globally recognized store of value. Institutional adoption, favorable policies, and market dynamics have converged to drive this rally, with technical indicators and sentiment aligning for further gains. While predictions of $150,000 by year’s end are bold, they reflect the growing confidence in Bitcoin’s role in the financial ecosystem. As the crypto market continues to evolve, all eyes will be on whether Bitcoin can sustain its momentum and redefine its place in the global economy.