Ether rose to a two-week high of $1,825 on Monday morning, outperforming Bitcoin which traded in a narrow range around $63,768. The move triggered $151.3 million in total liquidations over 24 hours, with longs accounting for nearly 60% of the losses. Markets now await the U.S. June CPI report due Tuesday, which could set the tone for the next Federal Reserve decision.
ETH leads as BTC consolidates
Bitcoin edged down 0.3% to $63,767.99 over the past 24 hours, oscillating between $63,568 and $64,425. It remains below the 14-day high of $64,442.52 reached on July 10. Ether, by contrast, climbed 1.37% to $1,819.68 after touching $1,825, its highest level in two weeks. The divergence highlights a shift in market leadership, with traders rotating into the second-largest cryptocurrency.
Liquidation data shows long-side pain
CoinGlass data reveals $151.3 million in total liquidations across the crypto market in the past 24 hours. Long positions accounted for $85.27 million, or 56% of the total, while shorts lost $66.02 million. The pressure intensified in the last hour, with $38.45 million liquidated — $34.22 million of which were longs, signaling that leveraged bullish bets are being squeezed as prices pull back from intraday highs.
ETF inflows, Ethereum catalysts, and rate cut hopes
Spot Bitcoin and Ether ETFs recorded net inflows of about $282 million for the week ending July 11, snapping an eight-week losing streak that saw cumulative outflows of roughly $9.46 billion. BlackRock's ETHA led Ether ETF inflows with $29.1 million for the week. However, daily flows remain volatile: on July 10, Bitcoin ETFs saw $95 million in net outflows and Ether ETFs $52 million.
Ethereum also benefited from multiple catalysts. Vitalik Buterin unveiled a 'Lean Ethereum' roadmap update on July 4, focusing on protocol simplification, scalability, and quantum resistance. The 'Ethereum Institutional' initiative, backed by Joe Lubin and other ecosystem leaders, launched on July 1 to pave the way for institutional capital. Meanwhile, the U.S. June nonfarm payrolls came in at just 57,000, far below the 115,000 consensus, boosting expectations for a Fed rate cut and lifting risk assets.
SOL and XRP show muted moves
Solana rose 1.10% to $77.15, trading between $75.85 and $78.20, still well below its 14-day high of $83.43 from July 4. XRP slipped 0.68% to $1.0877, with a 24-hour range of $1.0811 to $1.1043, also far from its recent peak of $1.1797. Both coins saw far less volatility than Ether.
Fear index edges up, all eyes on CPI
The Crypto Fear & Greed Index improved to 28 (Fear) from 26 a day earlier, but remains deep in fear territory after hitting 24 (Extreme Fear) a week ago and 13 (Extreme Fear) a month ago. U.S. stocks ended Friday higher, with the S&P 500 up 0.42% and the Nasdaq up 0.29%. This week's focus is on the June CPI release at 8:30 a.m. ET Tuesday, the last complete inflation data before the July 28-29 FOMC meeting. JPMorgan and Goldman Sachs also report Q2 earnings Tuesday, followed by PPI on Wednesday. The Fed held rates at 3.50%-3.75% in June, and new Chair Kevin Warsh has adopted a purely data-dependent approach, widening market interpretation. Additionally, the 10% across-the-board tariff under Section 122 expires July 24, with markets watching for a potential replacement under Section 301.