Crypto market update: Here's how BTC, ETH, and altcoins are faring today

The crypto markets were buzzing in trade on Wednesday, July 9, 2025, with the flagship currency, Bitcoin (BTC), holding above the $108,800 level. Bitcoin briefly touched near $109,200; however, profit-taking at higher levels pulled the price back toward current levels.

 

At last check, Bitcoin was trading around $108,812.74, higher by 0.57 per cent, with a 24-hour trading volume of $4.93 billion. Bitcoin's market capitalisation stood at $2.16 trillion, the highest among all cryptocurrencies. The world’s most popular cryptocurrency has fluctuated in the range of $108,126–$109,198 in the last 24 hours, according to data from CoinMarketCap.

 

Commenting on the crypto market, Edul Patel, Co-founder and CEO of Mudrex, said, "The market is gaining momentum as the US Digital Asset Task Force prepares to propose a strategic Bitcoin reserve policy later this month." This development, Patel believes, has lifted market sentiment, pushing Bitcoin toward the $109,000 mark.  ALSO READ | Bitcoin may hit $140k-$145k by Nov 2025: Sumit Gupta, Co-founder, CoinDCX

 

Ethereum eyes breakout

Meanwhile, Ethereum (ETH) has been trading in a range of $2,544 to $2,626 with low volumes. At last check, it was trading around $2,608.94, higher by 2.42 per cent, with a 24-hour trading volume of $17.47 billion. ETH's market capitalisation stood at $316.6 billion.

 

"Ethereum is building strength, with corporate treasuries like SharpLink and BitMine accumulating nearly 388,000 ETH," said Patel. Additionally, Ethereum spot ETFs have seen positive flows for eight straight weeks, with over 61,000 ETH added—showing strong institutional demand. If the momentum sustains, Patel believes ETH could see a breakout above $2,643, potentially testing the $2,800 level.

 

Harish Vatnani, head of trade at ZebPay, on the other hand, believes that Ethereum has strong support at the $2,350 level, while $2,675 and $2,850 will act as key resistance levels. "To further rally, ETH needs to break, close, and sustain above the mentioned resistance levels," said Vatnani.

Altcoins rally

Alongside Bitcoin and Ethereum, other altcoins within the top 10 displayed strength and were trading above their respective support levels. The top gainer for the day was Cronos, which surged over 20 per cent, with a rise in 24-hour volume of nearly 2,000 per cent. It was followed by Raydium, FLOKI, and SPX6900, which saw gains ranging from nearly 7 per cent to 10 per cent. The laggards for the day were Fartcoin and Story, each falling nearly 3 per cent, according to the CoinDCX Research Team.

 

Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading higher by 5 per cent, Cardano (ADA) was up 3.5 per cent, Solana (SOL) rose 2.37 per cent, Ripple (XRP) gained 2.56 per cent, and Binance Coin (BNB) was up 0.74 per cent.