There it is, a new all-time high, even as market idles in neutral
📈 New ATH: Bitcoin hit a fresh all-time high of around $111,900 despite neutral investor sentiment.
🏦 Fed under pressure: Trump is urging the Fed to cut rates earlier, adding political pressure.
📊 ETH and altcoin rally: ETH rose 6%, while SUI and XLM gained over 10%.
🗓️ Big month for economic data: The Fed’s July meeting at the end of the month could be a key turning point.
Bitcoin yesterday sneakily, determinedly, marched past its old all-time high to post a new peak of around $111,900. And this came while the Relative Strength Index (RSI) still reflects neutral sentiment among investors, begging the question: does it have more room to the upside when optimism returns? Much of that hinges on the Fed’s moves with monetary policy, say analysts. The majority of the market expects rate cuts to begin around September, but President Donald Trump has pushed for earlier action, which may be fuelling the current price rally.
Markus Thielen, founder of 10X Research, notes: “The sharp surge in bitcoin ETF inflows since late April 2025 has been primarily driven by political pressure on the Federal Reserve, with Donald Trump openly demanding that Chair Jerome Powell cut rates to 1% and resign.” While some policymakers have now echoed this sentiment, it has raised concerns in other parts of government over the Fed’s independence. Powell has previously stated that the Fed’s cautious approach is in direct response to Trump’s tariff policy and its potential inflationary effects.
Still, Bitcoin posted a new all-time high, Ethereum (ETH) rallied 6%, and others like Sui (SUI) and Stellar (XLM) jumped more than 10% in price. All eyes are now on the Fed’s meeting at the end of July, not just for its decision, but also for Trump’s likely reaction.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.47 trillion, up 2.84% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $111,183, up 2.21% in the last 24 h
Daily high: $111,742
Daily low: $108,610
📈 S&P 500 ↗️
SPY is currently up about 0.67% since yesterday’s close.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 58/100, indicating a neutral sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 62, still in the neutral zone (30–70).
Data is accurate as at 08:11 GMT, 10 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
