Bitcoin Approaches $110K as Market Conditions Align
Bitcoin is on the verge of reaching $110,000, with a 3% gain in the past 24 hours. Several factors are fueling this surge. High trading volumes, geopolitical news, and ETF optimism are key drivers.
On July 2nd, Bitcoin’s price climbed from $106,300 to nearly $109,700. It now trades at $109,600. The crypto’s trading volume spiked to $52.6 billion,showing strong buyer interest. This activity suggests a notable market move could be on the horizon.
Bitcoin’s price hike is backed by strong trading volumes.
Several factors are driving this surge.High trading volumes,geopolitical news,and ETF optimism are key. On July 2nd, Bitcoin’s price climbed from $106,300 to nearly $109,700. It now trades at $109,600, according to crypto.news data.
Trading volume spiked to $52.6 billion, indicating strong buyer interest. Bitcoin accounts for nearly 45% of total crypto market trading activity. This volume spike suggests buyers are committing significant capital.
Beneath the surface,ETF flows and policy shifts are playing a role. Standard Chartered reiterated its bold call for BTC to hit $135,000 by Q3 and $200,000 by year-end. ETF inflows, corporate treasury buying, and sovereign accumulation are now the dominant price drivers.
In Q2 alone,institutional buyers added 245,000 BTC. Demand is expected to accelerate through Q3 and Q4 as passive ETF allocations deepen.
President Donald Trump announced a new trade deal with Vietnam,helping lift U.S. equities and risk assets. Under the new terms, the U.S. will impose a 20% tariff on Vietnamese exports and a 40% levy on rerouted goods, while American products receive tariff-free access to the Vietnamese market.
Markets interpreted the deal as part of a broader post-election pivot toward aggressive economic posturing. Bitcoin, often grouped with risk-on trades during periods of geopolitical volatility, caught a bid alongside tech stocks. By midday, the Nasdaq was up 0.8%, and bitcoin had already cleared the $109,000 mark.
