Bitcoin Tops $111K, on Brink of Breaking Record High; Ether's 6% Jump Leads Major Cryptos

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CryptoNewsNet2025/07/09 20:35

By:coindesk.com

Bitcoin

BTC$111,513.04

broke out of its recent very tight trading range during U.S. Wednesday afternoon hours, threatening to topple its May record of $112,000.

The move came amid a broader crypto rally that also saw Ethereum's ether

ETH$2,758.16

surge 6% above $2,700, its highest level in a month. Bitcoin itself was ahead 2.4% at $111,400 at press time.

Bitcoin Tops $111K, on Brink of Breaking Record High; Ether's 6% Jump Leads Major Cryptos image 0

For BTC, the $110,000 level has been a significant barrier over the past weeks with investors taking profits each time the price neared that level.

Still, market watchers noted that the slow, quiet buildup could be a bullish setup.

"Crypto feels so quiet, [while] bitcoin is ready to move," wrote Charlie Morris, chief investment officer at ByteTree, in a report.

Morris pointed out that bitcoin’s volatility has steadily declined, a pattern that historically preceded large upward moves.

Bitcoin Tops $111K, on Brink of Breaking Record High; Ether's 6% Jump Leads Major Cryptos image 1

Bitcoin 90-day and 360-day volatility (ByteTree)

"The setup for the next one is looking good," he said. "As I keep on saying, the quiet bulls are the best."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget-RWA•2025/09/12 06:14

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Bitget-RWA•2025/09/12 06:14