Why Is Crypto Up Today? July 16, 2025

On July 16, 2025, the crypto market is experiencing an upswing after a day of pullbacks, with 92 of the top 100 cryptocurrencies showing price increases. The overall cryptocurrency market capitalization is down by 2.1% to $3.8 trillion, while the total trading volume remains steady at $205 billion. Bitcoin rose above $118,000, currently trading at $118,233, and Ethereum is above $3,000, trading at $3,145. Within the top 10 coins, Ethereum saw the highest increase at 5.8%, while Bitcoin is up 1.1% and Dogecoin increased by 3.3%. Pump.fun (PUMP) saw the highest gains in the top 100, increasing 11.2%. Conversely, Fartcoin (FARTCOIN) experienced the biggest drop, decreasing by 4.6%. US Bitcoin and Ethereum spot ETFs have recorded positive flows for more than a week straight. Moscow Exchange announced it will launch a fund tracking a major Ethereum ETF in August. Peter Thiel has acquired a 9.1% stake in BitMine Immersion Technologies, which holds over 163,000 ETH. Cantor Fitzgerald and Adam Back are reportedly working on a SPAC merger valued at approximately $4 billion.