Bitcoin Price Edges Up. Why the Crypto Rally Has Fizzled Out.
July 9, 2025
Bitcoin was climbing Wednesday, although the world’s largest cryptocurrency was still struggling to build momentum as it traded short of its all-time highs.
The digital asset was trading at $108,762, up 0.3% over the past 24 hours, according to data from CoinDesk It’s still about 3% off the record it hit back in May.
Other digital assets were also rising. Ethereum rose 3.1%, Solana climbed 2.5%, and XRP added 3% over the past 24 hours, per data from the crypto exchange Kraken.
Bitcoin has traded within a tight range over the past two weeks: Since June 24, it’s not fallen below $105,900 or risen above $110,000.
It’s good news for the token that it hasn’t sold off during a recent bout of tariff uncertainty, but crypto bulls will be hoping that the lack of price action isn’t a sign the crypto rally has fizzled out.
“Bitcoin’s short-term momentum is weakening at the range highs,” analysts for the crypto trading platform Bitfinex said in a report published Tuesday. “This signals a lack of follow-through strength and suggests that bulls are hesitant or unable to push prices significantly higher without fresh catalysts or clearer macro signals.”
Write to George Glover at george.glover@dowjones.com
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