Markets Bitcoin Reaches $64,400 as Altcoin Optimism Grows
Bitcoin's price climbed to $64,400, revisiting a level it could not surpass on Monday, with a successful break above this threshold potentially leading to the June 15 high of $67,250.
By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback Jul 10, 2026, 10:37 a.m. 2 min read Make preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
Bitcoin price (CoinDesk Data)SummaryShow- Bitcoin reached $64,400, revisiting the price point that rejected it on Monday; a clean break above could lead to the June 15 peak of $67,250, while ether is attempting to break a trend of lower highs and lows.
- Lighter (LIT) has skyrocketed over 200% since May 16, driven by a partnership with Robinhood Chain, aiming to provide its decentralized derivatives exchange to 28 million users. Rival Hyperliquid's HYPE also rose, showing a bullish setup.
- The cryptocurrency market has shown divergence from equities, as S&P 500 and Nasdaq 100 futures experienced declines.
On Friday, the cryptocurrency market gained momentum, with bitcoin BTC$64,373.86 trading at $64,400, reflecting a 2% increase since midnight UTC.
This leading cryptocurrency is currently at a price point it couldn't surpass on Monday, and a successful breakthrough here could see it rise toward the June 15 high of $67,250.
Ether (ETH) outperformed bitcoin, increasing by 2.6% to $1,790 as it aims to break a series of lower highs and lows.
The altcoin sector also showed significant gains ahead of the weekend, which generally tends to have lower liquidity. Zcash (ZEC) and Aave AAVE$96.65 both rose approximately 5%, indicating that optimism is returning to more speculative investments after a period of subdued sentiment.
This rally in crypto stands in contrast to U.S. equities, with S&P 500 and Nasdaq 100 futures down by 0.1% and 0.4%, respectively.
Derivatives Positioning
- Crypto derivatives markets are showing signs of stabilization, with a decrease in speculation and an increase in long-term positioning.
- Over the past 24 hours, trading volume dropped by 7% to $140 billion, while open interest (OI) increased by 3% to $110.52 billion. This indicates that the recovery is more influenced by strategic positioning than by high-frequency speculative trades.
- Open interest in bitcoin's USD- and USDT-denominated futures on major exchanges has slightly increased, from 262K to 272K, as the spot price surpassed $64,000. Positive funding rates and a positive 24-hour OI-adjusted cumulative volume delta (CVD) suggest a growing inclination towards bullish positions.
- Ether has not yet experienced a significant rise in futures OI, indicating that traders remain cautious about using leverage.
- In the broader market, most tokens have positive 24-hour CVDs, suggesting that buyers are becoming more assertive, opting for market orders over passive limit orders. This bodes well for future price increases.
- Confirmatory signals come from options-based implied volatility indexes for BTC and ETH, which continue to decline, signaling traders expect a calm market—a characteristic of upward trends. BTC's volatility index, BVIV, dropped to 38.5 today, the lowest level since June 6.
- In the options market on Deribit, put skews are weakening as the price rally alleviates downside worries. Calls at $62,000, $65,000, and $67,000 are among the most actively traded, along with the $56,000 put, indicating bullish sentiment.
Token Updates
- Lighter (LIT) continued its impressive performance from recent weeks, climbing over 5% and marking a 200% gain since May 16.
- Lighter operates as a decentralized derivatives exchange and recently formed a partnership with Robinhood Chain to extend its offerings to the platform's 28 million clients.
- Competitor Hyperliquid has previously capitalized on the 2026 hype surrounding perpetuals, reaching a peak of $76 last month before experiencing a pullback.
- Its HYPE token increased by 2.8% on Friday to $68, with a series of higher lows indicating a bullish trend.
- AI tokens have lagged behind the market's upward movement after a robust first half. Bittensor (TAO) remained stable on Friday despite the overall market rally.
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Digital Assets: Quarterly Review and Outlook Q2
Digital Assets: Quarterly Review and Outlook Q2
The second quarter of 2026 saw digital assets experience a third consecutive quarter of losses, marking the longest losing streak since the 2022 bear market, as institutional investments shifted towards AI equities, and Bitcoin ETFs saw substantial quarterly outflows. Our report analyzes the drivers behind this trend, ongoing structural adoption, and key indicators to monitor for Q3.
By CoinDesk Research2 hours agoThe second quarter of 2026 saw digital assets experience a third consecutive quarter of losses, marking the longest losing streak since the 2022 bear market, as institutional investments shifted towards AI equities, and Bitcoin ETFs saw substantial quarterly outflows. Our report analyzes the drivers behind this trend, ongoing structural adoption, and key indicators to monitor for Q3.
Why it matters:
The second quarter of 2026 saw digital assets experience a third consecutive quarter of losses, marking the longest losing streak since the 2022 bear market, as institutional investments shifted towards AI equities, and Bitcoin ETFs saw substantial quarterly outflows. Our report analyzes the drivers behind this trend, ongoing structural adoption, and key indicators to monitor for Q3.
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