🚀 Bitcoin Update: BTC Nears $110K Amid Market Swings – What’s Driving the Action?

Source: CryptoRank.io

Bitcoin continues its wild ride in July 2025, trading just below the psychological $110,000 USD mark. As of July 5, 2025, BTC is priced at approximately $107,732 USD (or around A$166,800 AUD).

So, what's going on with the world’s leading cryptocurrency? Let’s break it down.

🔍 Bitcoin Market Snapshot

  • Current Price: $107,732 USD

  • 24H Movement: â–Ľ 1.89%

  • Range Today: $107,341 – $109,857

đź“° Top News Driving Bitcoin

1. U.S. Jobs Data Sparks Temporary Rally

Bitcoin briefly surged past $110,000 following the release of positive U.S. jobs numbers — 147,000 new positions added in June. However, this gain quickly faded as global markets responded negatively to potential new tariffs from President Trump.

📖 Read Full Story on Barron’s

2. $2 Billion in Dormant Bitcoin Wakes Up

Two “Sleeping Beauty” wallets, each holding 10,000 BTC from 2011, were activated this week. While the coins haven't moved to exchanges, this triggered speculation on what might happen if they’re sold.

🏦 More from MarketWatch

3. Institutional Inflows Hit $50 Billion

ETFs focused on digital assets are booming. Over $50 billion in institutional money has flowed into crypto ETFs this year — a massive confidence boost for the entire market.

💼 Read on Barron’s

4. Traditional Banks Join the Party

Spanish banking giant BBVA has launched crypto trading and custody services, becoming the first major bank in Spain to do so. This move marks another milestone in crypto adoption.

🇪🇸 Read BBVA Launch News (in Spanish)

đź“Š Technical Analysis Snapshot

  • Resistance: $110,000

  • Support: $106,000

  • Outlook: Consolidation, potential breakout with bullish momentum

⚠️ Final Thoughts

Bitcoin remains in a volatile yet bullish position, buoyed by institutional adoption and ongoing mainstream interest. However, macroeconomic risks and regulatory developments continue to influence short-term moves.

🚨 Disclaimer: This article is for educational purposes only and not financial advice. Please do your own research (DYOR) and consult a licensed financial advisor before making any investment decisions.

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I am passionate about two things: exploring the wonders of the world and diving into the latest technological advancements. Our journey began with a shared love for travel, where each new destination fueled our curiosity and thirst for discovery.

We are a dynamic duo passionate about two things: exploring the wonders of the world and diving into the latest technological advancements. Our journey began with a shared love for travel, where each new destination fueled our curiosity and thirst for discovery.

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