Cryptocurrencies are recording collective gains in mid-trading on Thursday, July 10, as Bitcoin, the world’s most expensive cryptocurrency, maintains its $111,000 level after hitting a historic high yesterday, Wednesday, when it tested $112,000, benefiting from continued institutional demand, increased risk appetite in the cryptocurrency market, and a rise in market capitalization.
The minutes of the US Federal Reserve’s meeting two weeks ago, released at the end of trading yesterday, Wednesday, supported risk appetite in the markets after showing Fed members’ intention to further cut interest rates in the second half of this year.

Institutional demand for cryptocurrencies and Bitcoin ETFs is an additional supportive factor for cryptocurrency investors, as net inflows into Bitcoin ETFs rose to $14.4 billion in June, in addition to continued market optimism that the US government will establish a strategic reserve of Bitcoin before the end of the year.

The combined market capitalization of the cryptocurrency market, according to Coingecko, which includes more than 17,000 cryptocurrencies, declined by approximately 1.4% on Thursday after strong gains, bringing the market capitalization to $3.53 trillion. According to Coinglass, approximately $340 million was liquidated at Bitcoin’s record high of $112,000.
Bitcoin is trading at $111,023, up approximately 1.12% today, with a market capitalization of $2.205 trillion. Ethereum, the second-largest cryptocurrency, is up approximately 4.35%, trading at $2.771 trillion with a market capitalization of $334 billion.
XRP, or Ripple, continues to maintain its position as the fourth-largest cryptocurrency in the world by market capitalization, rising approximately 2.45% today, trading at $2.44 trillion with a market capitalization of $144 billion. Dogecoin is up 3.24%, trading at $0.1800, with a market cap of $27 billion. Cardano is up 2.24%, trading at $0.6270, with a market cap of $22 billion. Solana is up 1.78%, trading at $157, with a market cap of $84 billion. Sui, the top 20 gainer, is down 8%, trading at $3.21, with a market cap of $11 billion.