Bitcoin $BTC soared past the $110,000 mark on Wednesday, reaching $110,079.59 — its highest level since June 11. The rally came amid a significant influx of over $407.78 million into U.S.-listed spot Bitcoin ETFs, signaling renewed investor confidence ahead of a closely watched U.S. jobs report due later today.
The momentum extended across the broader crypto market, with major assets posting solid gains. XRP, Ether (ETH)$ETH , Solana (SOL)$SOL , and Cardano (ADA) all benefited from the bullish sentiment. Particularly noteworthy were memecoins BONK and FARTCOIN, each recording 24-hour gains exceeding 20%, highlighting a growing investor appetite for higher-risk assets.
Reflecting this trend, the CoinDesk Memecoin Index jumped 12.6%, while the CoinDesk 20 Index, which tracks the largest digital assets, climbed 4.3%.
Market participants are now turning their attention to the upcoming U.S. nonfarm payrolls data, which is expected to influence short-term sentiment.
“The historical high near $112,000 — set in late May — could be retested or even surpassed by week’s end, given the current risk-on environment in global markets,” said Alex Kuptsikevich, Chief Market Analyst at FxPro, in a note. “However, the U.S. employment report later today could act as either a catalyst or a key resistance to further gains.”
