Key Highlights:

• Bitcoin has surpassed $110,000, marking its highest level since June 11. This surge is attributed to over $407.78 million flowing into U.S.-listed Bitcoin spot ETFs on Wednesday.
• The increase in Bitcoin’s price has also positively impacted other major cryptocurrencies, including XRP, ETH, SOL, and ADA. Notably, the memecoins BONK and FARTCOIN saw rises exceeding 20%.
• Traders are anticipating the U.S. nonfarm payrolls report, which is expected to influence Bitcoin’s price trajectory and test its historical high of $112,000.

Bitcoin (BTC) reached a significant milestone as it climbed above $110,000 for the first time since June 11, supported by substantial investments into Bitcoin ETFs. The cumulative investment in these ETFs has now reached $49.04 billion, according to data from SoSoValue.

The CoinDesk Memecoin Index has risen by 12.6%, while the CoinDesk 20 Index gained 4.3% during this period.

“The historical high of around $112K, set at the end of May, may be tested for strength or adjusted before the end of this week, given the fairly high risk appetite in global markets. However, it is worth remembering that the monthly U.S. employment report, due later Thursday, could serve as both a catalyst and a significant barrier,” Alex Kuptsikevich, Chief Market Analyst at FxPro, stated in an email.
“Исторический максимум около $112К, установленный в конце мая, может быть протестирован на прочность или изменен до конца этой недели, учитывая достаточно высокую рискованность на глобальных рынках. Однако стоит помнить, что ежемесячный отчет по занятости в США, который должен быть опубликован позже в четверг, может послужить как катализатором, так и значительным препятствием.”