Key Takeaways:
- Bitcoin surged to $118,248, hitting a new record high as ETF inflows and corporate demand accelerated.
- U.S. Indices rose, with the Dow gaining 0.43% on strong tech momentum.
- Gold edged higher to $3,333, as investors turned to inflation hedges following a fresh $3.3 trillion U.S. spending plan.
Geopolitics & Market Sentiment
On July 11, markets recorded a first in history as Bitcoin saw an explosive surge from $110,000 to $118,000 in a single day, reaching a new all-time high. The move was driven by a combination of structural inflows and macroeconomic developments.
U.S.-listed spot Bitcoin exchange-traded funds, including BlackRock’s IBIT, which now controls approximately %56 of all U.S. spot Bitcoin ETF assets, continued to absorb liquidity at a record pace, highlighting deepening institutional interest in digital assets.
Additionally, the accumulation trend extended beyond Wall Street. Japanese investment firm Metaplanet has disclosed plans to build its bitcoin reserves to 210,000 by 2027. The company, which began formally allocating bitcoin as a core business focus in late 2024, has explained this shift as a long-term strategy aimed at increasing bitcoin holdings per share, rather than prioritizing short-term earnings.
In Washington, the approval of the so-called “Big Beautiful Bill,” a $3.3 trillion spending package, added fresh momentum to the crypto rally. Analysts say the legislation is expected to significantly expand the U.S. debt over the next decade, fueling concerns over sovereign debt sustainability and pushing investors to hedge against inflation with safe-haven assets such as gold and Bitcoin.
Global Indices
- S&P 500 Index (SPX): 6,280.47 (+0.27%)
- Dow Jones Industrial Average (DJI): 44,650.64 (+0.43%)
- Nasdaq Composite Index (IXIC): 20,630.6 (+0.09%)
- Nikkei 225 (NK225): 39,670.0 (+0.08%)
- Euronext 100 Index (N100): 1,605.41 (+0.31%)
- FTSE 100 (FTSE): 8,968.8 (–0.10%)
Cryptocurrencies
- Bitcoin (BTCUSD): $118,248 (+2.01%)
- Ethereum (ETHUSDT): $3,023.21 (+2.44%)
- Solana (SOL): $163.35 (–1.88%)
- Binance Coin (BNBUSDT): $694.83 (+1.32%)
Commodities
- Gold (CFDs): $3,333.19 (+0.29%)
- Silver (CFDs): $37.319 (+0.88%)
- WTI Crude (USOIL): $66.87 (+0.08%)
- Brent Crude (BRENT): $66.84 (–0.08%)
Individual Stocks
- NVIDIA Corp. (NVDA): $164.10 (+0.75%)
- Tesla Inc. (TSLA): $309.87 (+4.73%)
- Microsoft Corp. (MSFT): $501.48 (–0.40%)
- Meta Platforms (META): $727.24 (–0.76%)
- Apple Inc. (AAPL): $212.41 (+0.60%)
- Amazon.com Inc. (AMZN): $222.26 (–0.13%)
Forex
- U.S. Dollar Index (DXY): 97.802 (+0.23%)
- EUR/USD: 1.1680 (–0.20%)
- GBP/USD: 1.3559 (–0.10%)
- USD/JPY: 146.91 (+0.47%)
Market Wrap Up
Bitcoin led market gains on Thursday, climbing above $118,000 as institutional inflows and macro tailwinds continued to build momentum.
U.S. equities also advanced, supported by strength in technology shares. Similarly, Gold and silver rose as investors sought inflation protection.
Market participants are awaiting U.S. inflation data due July 15 for signals on the Federal Reserve’s poQlicy outlook.
Read More: El Salvador’s Bitcoin Holdings Rise with 137% Profit amid Rising Crypto Trend
