Bitcoin Surges Past $110K, Lifts Broader Crypto Market

Bitcoin climbed above the $110,000 threshold on Wednesday for the first time since June 11, buoyed by significant inflows into U.S.-listed spot bitcoin ETFs and anticipation surrounding an upcoming U.S. jobs report.

Over $407.78 million poured into bitcoin spot ETFs during the session, pushing total cumulative inflows to $49.04 billion, according to data from SoSoValue.

The rally in BTC reverberated across the crypto market, driving gains in major altcoins such as XRP, which traded at $2.2187, ether at $2,498.57, Solana at $146.08, and Cardano at $0.5736. Among the top performers were memecoins BONK and FARTCOIN, both surging more than 20% in the past 24 hours—a clear sign of renewed risk appetite among investors. The CoinDesk Memecoin Index advanced 12.6%, while the CoinDesk 20 Index, tracking the largest cryptocurrencies, rose 4.3%.

Market participants remain focused on the U.S. nonfarm payrolls data scheduled for release later Thursday, which could influence trading sentiment.

“The previous high around $112K, reached at the end of May, might either be tested or surpassed by the end of this week, considering the strong appetite for risk in global markets,” said Alex Kuptsikevich, chief market analyst at FxPro, in an email. “However, traders should keep in mind that the monthly U.S. employment report due later Thursday could act as both a catalyst and a potential roadblock.”