Daily summary: crypto market in euphoria, Bitcoin rallies to $113,700 💰

19:04 10 July 2025
  • U.S. stock indices are seeing moderate gains in today’s session. The Russell 2000 is leading the advance, up nearly 0.9%. The Dow Jones is gaining 0.6%, the S&P 500 is up 0.4%, and the Nasdaq is rising 0.2%.

  • Delta Air Lines’ earnings report served as a prelude to the upcoming U.S. earnings season. The company exceeded revenue expectations ($15.51 billion) and beat the forecasted adjusted EPS ($2.10 vs. $2.07 expected). From an investor's perspective, the key takeaway was Delta's return to issuing forward guidance, which had previously been paused amid tariff-related uncertainty.

  • Capital is rotating out of tech stocks and into other sectors today. The US100 is down 0.10%, while the US500 is up 0.36%, and small-cap index US2000 has gained more than 0.96%.

  • European markets are mixed. The UK’s FTSE 100 and Switzerland’s SMI are leading with gains of 1.2% and 1%, respectively. France’s CAC40 is up 0.3%, while Germany’s DAX is down 0.4% and Italy’s IT40 is losing 1%.

  • Fed official Musalem noted that while recent inflation trends are moderately positive, forecasts point to a potential increase due to new tariffs. He stressed that inflationary risks remain, and the full impact of the tariffs may not become visible until late this year or early next year.

  • U.S. Treasury yields are ticking higher today, especially in the mid-term maturities. The 10-year yield rose above 4.35%, while the 20-year remains just under 4.88%.

  • In the currency market, the Australian dollar is strengthening, gaining 0.6%. The New Zealand dollar is also making a notable move, up 0.4%. The weakest G10 currency today is the Swiss franc, down 0.4%.

  • Precious metals are mostly rising today. Gold is the weakest performer among them, up only 0.1%, while palladium futures are surging 3.2%. Silver is also climbing, up 1.4%.

  • U.S. natural gas futures are gaining after a smaller-than-expected inventory build. According to the EIA, gas inventories rose by 53 billion cubic feet (forecast: 60 bcf), supporting the price of natural gas contracts.

  • Donald Trump once again called on the Fed to cut interest rates swiftly. He highlighted record highs in tech indices and cryptocurrencies, specifically pointing to Nvidia’s 47% rise since tariff announcements as evidence of strong market momentum.

  • Bitcoin has just set a new all-time high at $113,700. On the day, Bitcoin is up 2.20%, Ethereum 1.75%, and the total altcoin market capitalization has increased by 1.92%.

  • Next week is expected to be key for crypto legislation and regulation. The U.S. House of Representatives has designated July 14–18, 2025, as “Crypto Week.”

  • Robinhood (HOOD.US) today launched a staking service for Ethereum and Solana, now available to U.S. users starting from just $1.

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