The momentum in Bitcoin-related equities continued this week as investor confidence remains strong amid favorable macroeconomic signals and sustained interest in digital assets. Among the standout performers, Circle, the issuer of the USDC stablecoin, surged more than 4%, outpacing peers such as Strategy and Riot Platforms, both of which posted gains above 1.6%. Coinbase also joined the rally, climbing 0.4%, reflecting broad-based strength across the crypto-linked equity sector.
This upward trend coincides with a resilient performance in global financial markets, supported by robust U.S. economic data and shifting expectations around Federal Reserve monetary policy.
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Strong Jobs Data Boosts Risk Appetite
A key driver behind the recent market rally was the release of stronger-than-expected U.S. non-farm payroll (NFP) data for June. The report showed that the U.S. economy added more jobs than anticipated after seasonal adjustments, signaling enduring labor market strength despite ongoing trade tensions and tariff impacts.
The solid employment figures reinforced perceptions of economic resilience, leading investors to scale back expectations for a Federal Reserve rate cut in July. As a result, the 10-year U.S. Treasury yield rose to 4.35%, reflecting increased risk appetite and higher growth expectations.
Equity markets responded positively. The Dow Jones Industrial Average (DJIA) gained 0.77%, nearing its highest level in five months. The S&P 500 climbed 0.83% to close at 6,279 points, while the Nasdaq Composite advanced 1.02%, hitting 20,601 points—both indexes marking new record highs. Even the China Golden Dragon Index bounced back by 0.4%, indicating improved sentiment toward risk assets globally.
Bitcoin Nears All-Time High Amid Renewed Momentum
While traditional markets celebrated strong fundamentals, the cryptocurrency space was abuzz with excitement as Bitcoin (BTC) approached its all-time high. On Friday, July 4, BTC extended its rally, rising nearly 1% to peak at $110,529**—a level not seen since early 2024. At the time of writing, the price had pulled back slightly below the six-figure mark, trading at approximately **$109,483.
This means Bitcoin is now just $1,000 away from its historic high of $120,000, reigniting intense speculation and investor attention. Although some analysts warn of overheating, others believe the current momentum could propel BTC toward new records, especially if macro conditions remain supportive.
"Bitcoin’s ability to sustain prices near $110,000 reflects growing institutional adoption and confidence in its long-term value proposition," noted a market strategist.
The surge in BTC price has also had a ripple effect on related stocks, reinforcing the correlation between digital asset performance and crypto-native company valuations.
Forex Markets React to Shifting Risk Dynamics
Global currency markets were not immune to the changing sentiment. The British pound (GBP) strengthened against the Japanese yen (JPY) on Thursday, driven by the same positive U.S. jobs data that lifted equities and Treasury yields.
Meanwhile, the USD/JPY pair had already seen significant movement earlier in 2025, with the exchange rate falling by 9% year-to-date—the yen's best performance in recent years. This sharp move was largely attributed to divergent monetary policies between the Bank of Japan and other major central banks, particularly as inflation dynamics evolved across regions.
A weaker dollar-yen typically signals reduced risk aversion, and its decline has coincided with increased capital flows into higher-yielding assets—including tech stocks and digital currencies.
Legislative Developments Add to Market Confidence
Adding to the positive backdrop, the U.S. House of Representatives passed the amended version of the "Larger Than Beautiful Act"—a piece of legislation previously revised by the Senate. With President Trump expected to sign it into law before the July 4 deadline, markets interpreted the move as a sign of continued fiscal support and regulatory clarity, particularly for emerging technologies and financial innovation.
Such legislative progress is seen as potentially beneficial for blockchain infrastructure firms and crypto platforms operating within compliant frameworks.
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Core Keywords Integration
Throughout this period of market expansion, several core keywords have emerged as central to understanding current trends:
- Bitcoin
- Circle
- non-farm payroll (NFP)
- crypto stocks
- BTC price
- USD/JPY
- market momentum
- digital assets
These terms naturally reflect investor search intent and align with rising queries around cryptocurrency performance, macroeconomic drivers, and stock market reactions.
Frequently Asked Questions (FAQ)
What caused Bitcoin to rise above $110,000?
Bitcoin’s surge was fueled by strong U.S. economic data, reduced expectations for near-term rate cuts, and growing institutional demand. The positive risk environment encouraged investors to re-enter high-growth asset classes, including digital currencies.
Why did Circle stock increase over 4%?
Circle’s stock benefited from renewed optimism in the crypto sector, particularly due to rising transaction volumes involving USDC and anticipation of broader adoption in payment systems and DeFi applications.
How do non-farm payroll numbers affect crypto markets?
Strong NFP data signals economic strength, which can reduce immediate hopes for interest rate cuts. This often leads to higher Treasury yields and a stronger dollar—but in risk-on environments, it also boosts investor confidence in speculative assets like Bitcoin.
Is Bitcoin likely to reach $120,000 soon?
With BTC already within $1,000 of its all-time high, many analysts believe another push is possible if buying pressure continues and macro conditions remain stable. Key resistance levels are being closely watched by traders.
What is the connection between crypto stocks and Bitcoin price?
Many crypto-related companies, such as Coinbase and Riot Platforms, have business models directly tied to cryptocurrency activity. When BTC rises, trading volume, mining profitability, and platform usage tend to increase—positively impacting their valuations.
How does USD/JPY impact global risk sentiment?
A falling USD/JPY often indicates yen strength, which can signal risk-off behavior. However, in 2025’s case, much of the yen’s rise stemmed from policy shifts rather than fear, allowing equities and crypto to rise simultaneously.
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Final Outlook
As we move deeper into 2025, the lines between traditional finance and digital asset markets continue to blur. The coordinated rise in Bitcoin prices, crypto-linked equities, and broader stock indices underscores a maturing ecosystem where macro fundamentals increasingly intersect with blockchain innovation.
With employment data holding firm, yields adjusting accordingly, and legislation advancing, the foundation appears set for sustained growth—provided inflation remains under control and geopolitical risks stay contained.
For investors, the current environment offers opportunities across both established tech giants and emerging digital asset platforms. Monitoring key levels in BTC price action, Treasury yields, and currency pairs like USD/JPY will be essential in navigating what could be a pivotal second half of the year.