The crypto market has staged a powerful rally today, with the total market cap climbing over 5.24% in the past 24 hours to $3.65 trillion. Trading volumes exploded by 47.14%, reaching a staggering $208.23 billion, signaling massive participation behind the move. While the Fear & Greed Index holds at a neutral 67, momentum is clearly favoring the bulls.

Why is the Crypto Market Up Today?
We had numerous fundamental drivers today, ranging from record-breaking ETF inflows to aggressive short liquidations. Bitcoin ETFs pulled in $1.17 billion in net inflows on July 10 alone, while Ethereum continued to benefit from the momentum around its staking ecosystem and ETF developments. Meanwhile, marketers are closely watching the upcoming “Crypto Week” in the U.S. Congress on July 14, which could shape long-term regulatory clarity.
Bitcoin (BTC) Price Prediction:
Bitcoin has led the charge with an impressive breakout to a new all-time high of $118,339.82, posting a 6.11% gain over the past 24 hours. The price pierced through the resistance at $117,000, on the back of aggressive short liquidations worth $570 million.
This move triggered a cascade of stop losses and short covers, pushing BTC sharply higher. The record $1.2 billion in ETF inflows added fuel to the rally, effectively tightening the available supply on exchanges.
Technically, the daily chart reveals an ascending triangle breakout with strong volume confirmation. If this trend continues, Bitcoin could test the $121,000 to $122,500 range in the next 24 hours. That being said, we cannot rule out the immediate support near $114,800, which could act as a retest level before another leg up.