Why Is Crypto Up Today? – July 9, 2025

The crypto market is up today. The majority of the top 100 coins per market cap have appreciated over the past 24 hours. At the same time, the cryptocurrency market capitalization has fallen 2.5% to $3.44 trillion. The total crypto trading volume is at $82.5 billion, one of the lowest levels we’ve seen over the past few days.

TLDR:

The crypto market turned upwards, with 95 of 100 coins going green;

BTC is unchanged, trading at $108,322, while ETH saw the highest increase in the top 10 category;

The prices and the sentiment continue moving sideways, awaiting further signals;

The Dollar Index (DXY) has hit a historically weak, with BTC benefiting;

US BTC and ETH ETFs continue positive, albeit minor flows;

ETFs will continue to attract “significant investment from institutions and retail investors”;

Investors are assessing the global trade and tariffs-related developments in the US.

Crypto Winners & Losers

In another shift from green to red and back to green, the prices of nearly all top 10 coins per market cap have appreciated today.

Bitcoin (BTC) is up 0.4%, the same amount it had dropped this time yesterday, meaning it’s unchanged, currently trading at $108,812.

At the same time, Ethereum (ETH) appreciated by 3.1%, currently changing hands at $2,629. This is the highest increase in this category.

The second-highest rise is XRP (XRP)’s 3% to the price of $2.33.

Tron (TRX) is the only coin red coin, but its price is unchanged over the past day. It currently stands at $0.2869.

Looking at the top 100 coins, we find that 95 of them are up at the time of writing. Two of these recorded double-digit increases. Cronos (CRO) and SPX6900 (SPX) are up 16.4% and 12.5% to $0.09335 and $1.4, respectively.

On the other hand, Bonk (BONK) and Fartcoin (FARTCOIN) fell the most in this category. They’re down 6.3% and 2% to the prices of $0.0000218 and $1.06, respectively.

The markets are largely waiting for additional signals, deciding where to move. Financial markets overall, but stocks more so than crypto, are keeping a close look on even the most minute developments in the US related to tariffs and trade.

Meanwhile, South Korea has moved to reclassify crypto trading and brokerage firms as “venture companies.” This would provide these companies with access to government subsidies, tax incentives, and financial support.

The Ministry of SMEs and Startups issued a notice on Monday and proposed an amendment to its startup law to include Virtual Asset Service Providers (VASPs) in the venture company category.

South Korea is moving to reclassify crypto firms as “venture companies,” which would grant access to government subsidies.#SouthKorea #Cryptohttps://t.co/FucfcydMDq

— Cryptonews.com (@cryptonews) July 9, 2025

On the other hand, New Zealand has banned crypto ATMs and capped international transfers at $5,000. This is a part of the country’s new Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime.

New Zealand has banned crypto ATMs and imposed a $5,000 limit on cash transfers as part of new measures to combat money laundering. pic.twitter.com/yzd0VxMWN0

— Ajay Kashyap (@EverythingAjay) July 9, 2025 ‘Dollar’s Weakness is Bitcoin’s Strength’

The US debt has reached a new all-time high, while the Dollar Index (DXY) has hit a historically weak level, says CryptoQuant, an onchain and market data analytics platform. The latter currently trades 6.5 points below its 200-day moving average. This is the largest deviation in the past 21 years, the analysts says.

“Although this may appear alarming at first glance, it actually tends to benefit risk assets like Bitcoin,” they add. The dollar weakens and loses its safe-haven appeal, leading investors to “reassess their portfolio allocations and shift capital toward alternative asset classes.”

Weak Dollar, Strong Bitcoin: A Time-Tested Correlation

“This chart highlights periods where the DXY trades below its 365-day moving average. Looking at historical data, it becomes clear that such periods have been highly favorable to BTC.” – By @Darkfost_Coc pic.twitter.com/viwbcfNhdM

— CryptoQuant.com (@cryptoquant_com) July 9, 2025

Moreover, Andrejs Balans, Risk Manager at YouHodler, commented on the impact of exchange-traded funds (ETFs) on the crypto market.

“A big win for the crypto community came” when the US Securities and Exchange Commission (SEC) approved the first spot ETF. At first, the market responded with caution, with both BTC and ETH dipping slightly.

However, many analysts expect the ETFs will continue to attract “significant investment from institutions and retail investors who want a straightforward way to participate in crypto without managing wallets or private keys,” Balans says. “The fund could help increase liquidity and reduce price swings over time by making crypto exposure more accessible.”

ETF and Strategy Bitcoin purchases heatmap.
We need more orange. pic.twitter.com/4uPsIIKfXY

— Julio Moreno (@jjcmoreno) July 8, 2025

The SEC approving these ETFs signals that the regulator is “becoming more open to crypto investing as the market matures and better safeguards are established.”

Levels & Events to Watch Next

At the time of writing, BTC trades at $108,812. Last day’s trading was quite choppy. However, the price did not go below the $108,000 level. The lowest it dropped to is $108,198. Also, the intraday high is $109,090.

Investors are waiting to see if the coin will surpass and hold the $109,000 level.

Bitcoin Price Chart. Source: TradingView

Moreover, Ethereum is currently trading at $2,629. It started the day with the daily low of $2,456. At one point, it surged to $2,622, then to the current level as its intraday high.

Over the next day, ETH may move above $2,635. Contrarily, it may fall below $2,500 should the market turn red abruptly.

Also, the crypto market sentiment is largely unchanged. It has been moving between 49 and 55 over the week. The Fear and Greed Index is up from 50 and back to the level seen two days ago, standing at 52 today. Both the sentiment and the prices keep moving sideways, awaiting further signals.

Source: CoinMarketCap

Meanwhile, on 8 July, the US BTC spot exchange-traded funds (ETFs) recorded inflows of $80.08 million, significantly lower than the $216.64 million seen on 7 July. BlackRock leads the list with inflows of $66.81 million. Fidelity, Bitwise, and Valkyrie also saw minor positive flows.

On the same day, US ETH ETFs saw inflows of $46.63 million, down from $62.11 million the day before. Of this amount, BlackRock took in $25.29 million. Grayscale and Bitwise also saw inflows, while Fidelity recorded outflows.

Meanwhile, media and entertainment firm GameSquare announced a public offering to fund its newly launched Ethereum-based treasury strategy. The company board has approved $100 million ETH treasury allocation in phased investments.

The ETH strategy targets yields of 8%-14%, higher than standard ETH staking returns of 3%-4%. Also, the company’s initiative includes a potential move into NFTs and stablecoins to “amplify returns.”

Today, we announced the pricing of our underwritten public offering to accelerate our Ethereum treasury strategy.

Full release: https://t.co/9Bz1LVw1N1 pic.twitter.com/WQk5pgZjJD

— GameSquare Holdings Inc. (@GSQHoldings) July 8, 2025 Quick FAQ

1. Why did crypto move against stocks today?

The crypto market increased over the past 24 hours, while the US stock market saw a mixed picture by Tuesday closing time. For example, the S&P 500 fell by 0.072%, the Nasdaq-100 increased by 0.074%, and the Dow Jones Industrial Average decreased by 0.37%. Investors are keeping an eye on the global trade and tariff uncertainty, assessing the developments in the US.

2. Is this rally sustainable?

This is a minor increase within a larger rally. Additional increases, as well as decreases, are expected. Mid- and long-term, crypto prices overall are likely to increase further, according to analysts and researchers.

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