Crypto Frenzy Ignites! BTC, ETH Lead Broad Market Rally as Crypto Stocks Surge
A surge in capital inflows has revitalized the crypto market, with Bitcoin (BTC) rising over 3% and Ethereum (ETH) up nearly 8%. The total crypto market capitalization increased from $3.24 trillion to $3.39 trillion, reflecting a net inflow of over $100 billion. Crypto equities also saw significant gains, with Bakkt (BKKT) soaring 32% and Hut 8 Mining (HUT) rising 14%. This rally was triggered by weaker U.S. ADP jobs data and a spike in M2 money supply.
TradingKey – A wave of capital inflows has reignited the crypto market, sending major tokens and crypto-related equities soaring.
On Thursday, July 3, weaker-than-expected U.S. ADP jobs data and a spike in M2 money supply triggered a rush into digital assets, pushing total crypto market capitalization from $3.24 trillion to $3.39 trillion in just 24 hours — a net inflow of over $100 billion.
30-Day Crypto Market Cap Trend – Source: CoinMarketCap.
At the time of writing:
- Bitcoin (BTC) is up over 3%,
- Ethereum (ETH) has surged nearly 8%,
- Other majors like XRP, Solana (SOL), and Dogecoin (DOGE) are posting gains between 3% and 8%.
The rally has spilled over into crypto equities, with:
- Bakkt (BKKT) skyrocketing 32%,
- Hut 8 Mining (HUT) up 14%,
- Marathon Digital (MARA) gaining 13%,
- MicroStrategy (MSTR), Coinbase (COIN), and Robinhood (HOOD) each rising more than 5%.
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