Why is Bitcoin price up today? The hidden fuel behind BTC’s $109k breakout
Bitcoin is pressing toward $110K, gaining nearly 3% in 24 hours, as macro catalysts stack up. A rare mix of high-volume flows, geopolitical headlines, and ETF tailwinds are pushing traders to front-run what could be a messy but momentous July.On July 2nd, Bitcoin Bitcoin
2.32%
Bitcoin added nearly $2,900 to its price, surging from $106,300 to just over $109,700 before paring some gains to trade at $109,600 at the time of writing, according to crypto.news data.
That move, backed by a sharp jump in trading activity to $52.6 billion, places the original crypto less than 3% shy of its May all-time high of $111,970. The volume spike signals that buyers aren’t just testing the waters, they’re committing capital in size, with Bitcoin accounting for nearly 45% of total crypto market trading activity on Wednesday.In Q2 alone, institutional buyers added 245,000 BTC, with a growing share coming from public companies not named Strategy. That demand is expected to accelerate through Q3 and Q4, as passive ETF allocations deepen and more firms mimic the leverage-heavy treasury strategies pioneered by Michael Saylor.
Beyond spot Bitcoin ETFs, the REX-Osprey Solana + Staking ETF made a surprisingly strong debut, pulling in $20 million in volume on its first day. Bloomberg’s Eric Balchunas called the performance a “top 1% for new launches.”
The fund’s momentum suggests confidence in crypto ETFs is far from saturated.
