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Bitcoin (BTC) Price Rallies to $108K on Positive Macro Outlook and XRP Gains on ETF News | Flash News Detail | Blockchain.News
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7/1/2025 6:58:00 AM

Bitcoin (BTC) Price Rallies to $108K on Positive Macro Outlook and XRP Gains on ETF News

Bitcoin (BTC) Price Rallies to $108K on Positive Macro Outlook and XRP Gains on ETF News

According to @AltcoinGordon, a constructive outlook for crypto markets is forming for the second half of 2025, driven by an improving macroeconomic backdrop and clearer regulations, as detailed in a Coinbase Research report. The report highlights stronger U.S. growth, with the Atlanta Fed’s GDPNow tracker at 3.8%, and progress on crypto bills like the GENIUS Act and CLARITY Act as key tailwinds. In the markets, Bitcoin (BTC) surged 3.1% to $108,600, fueled by institutional news such as JPMorgan's trademark application for digital asset services and Purpose Investments' plan to launch a spot XRP ETF in Canada, which also caused XRP to rally 6-7%. Despite this, Nansen research analyst Nicolai Søndergaard suggests it is not yet 'altcoin season,' as altcoin performance remains largely triggered by BTC's movements. From a technical standpoint, Bitfinex analysts noted that if BTC can hold the $102,000-$103,000 support zone, it could signal a market recovery following recent capitulation-style selling. Traders are now closely watching the Federal Reserve for macroeconomic cues.

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Analysis

The cryptocurrency market has ignited with renewed vigor, shaking off recent geopolitical jitters and pivoting its focus towards significant institutional developments. Bitcoin (BTC) is leading the charge, surging 3.1% over the past 24 hours to trade at approximately $108,600, placing it tantalizingly close to its all-time high. This bullish momentum is not isolated. The broader market is experiencing a significant uplift, with major altcoins like XRP and Chainlink (LINK) posting impressive gains of 6% to 7%. This renewed risk appetite is mirrored in traditional markets, where the S&P 500 and Nasdaq climbed 0.9% and 1.4% respectively, while safe-haven gold saw a 1.5% decline. The positive sentiment has also buoyed crypto-related equities, with Coinbase (COIN) and Circle (CRCL) closing up 7.7% and 13%, respectively, signaling strong investor confidence in the digital asset ecosystem's infrastructure.



Institutional Catalysts Fuel Market Rally


Two major institutional developments are acting as primary fuel for the current rally. Financial giant JPMorgan has filed a trademark application for a suite of digital asset services, including trading, exchange, and payment solutions, a move that underscores the deepening integration of legacy finance with the crypto economy. Simultaneously, the momentum for altcoin-focused investment products is growing, as asset manager Purpose prepares to launch a spot XRP exchange-traded fund (ETF) in Canada. This news has directly contributed to XRP's strong performance, with its USDT pair, XRPUSDT, reaching a 24-hour high of $2.3257 before settling around $2.1898. While this outperformance might spark talk of an impending "altseason," some analysts urge caution. According to Nansen research analyst Nicolai Søndergaard, the market's strength remains intrinsically linked to its leader. "BTC has mostly served as a trigger for altcoins," Søndergaard stated, noting that while some profits trickle down, most altcoins have been underperforming against Bitcoin for some time. The focus, he argues, is still very much on BTC.



Long-Term Outlook Brightens with Macro and Regulatory Tailwinds


Looking beyond the immediate price action, a recent report from Coinbase Research paints a constructive picture for the second half of the year, built on improving macroeconomic conditions and increasing regulatory clarity. After a brief economic contraction, the U.S. economy is showing signs of robust recovery, with the Atlanta Fed’s GDPNow tracker forecasting a strong 3.8% QoQ growth as of early June. This, combined with expectations of eventual Federal Reserve rate cuts, has eased recession fears and bolstered the case for risk assets like Bitcoin. On the regulatory front, significant progress is being made. The U.S. Senate's passage of the GENIUS Act, a bipartisan stablecoin bill, and the ongoing discussions around the CLARITY Act, which seeks to define the jurisdictional boundaries of the SEC and CFTC, are crucial steps toward a more mature and predictable market structure. This progress, along with the SEC's consideration of over 80 crypto ETF applications, is expected to attract further institutional capital.



Bitcoin's Technical Strength and Key Trading Levels


From a technical trading perspective, Bitcoin's rebound is showing signs of underlying strength. According to analysis from Bitfinex, the sharp sell-off last week, which pushed the Fear and Greed Index into “Fear” territory and saw a spike in liquidations, resembled past capitulation events that often precede a market bottom. The analysts noted that aggressive selling was observed in Bitcoin’s Net Taker Volume. Their key takeaway is that if BTC can successfully defend the $102,000 to $103,000 support zone, it would suggest that the intense selling pressure has been absorbed, potentially priming the market for a sustained recovery. The BTCUSDT pair has demonstrated this resilience, trading within a range of $106,299 to a high of $107,814 in the last day. All eyes are now turning to the Federal Reserve. As noted by digital asset analytics firm Swissblock, the upcoming FOMC meeting's significance lies not in the expected decision to hold rates steady, but in Chairman Jerome Powell's subsequent press conference. "Powell’s tone, not the rate decision, will drive volatility," they stated, advising traders to brace for potential price swings across all risk assets as the market digests the Fed's latest guidance on inflation and economic policy.

Gordon

@AltcoinGordon

From $0 to Crypto multi millionaire in 3 years

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