The cryptocurrency market is experiencing positive momentum, with rising capital and increased trading activity. Bitcoin has set new records, while Floki has gained attention due to successful ecosystem updates.
Bitcoin Records and Trading Surge
The cryptocurrency market rose 1.30% at the start of the week, reaching a total market cap of $3.37 trillion. Bitcoin established a new all-time high at $109,439, increasing nearly 1% for the day. Notably, 24-hour trading volume surged by over 40%, indicating heightened market activity. From June 30 to July 3, Bitcoin spot ETFs recorded a net inflow of $769.60 million.
Floki Price Surge and Its Reasons
Floki's price increased by 16.7% to $0.00008763, coinciding with the launch of its Valhalla mainnet on July 5 and a new esports partnership. Analysis indicates that the price broke through resistance levels and is sustaining growth since June 25. Trading volume has also increased significantly, supporting the possibility of further growth.
Overall Market Structure and Outlook
The total cryptocurrency market cap now sits around $3.37 trillion, recovering from a low of $2.87 trillion posted on June 23. The market structure shows recent changes, indicating a potential continuation of bullish momentum. Resistance levels are present in the $3.36 to $3.38 trillion range, and breaking above these levels could lead to further gains.
The observed dynamics in the cryptocurrency market, including institutional inflows and technical breakouts, create a positive current sentiment. Bitcoin continues to play a key role in market movement, while alternative coins like Floki benefit from capital rotation and ecosystem updates.
