Ether and Dogecoin Lead Crypto Rally as Traders Watch Politics and Quiet Retail Flows
The crypto market rallied on Thursday, powered by gains in Ether and Dogecoin, as traders balanced rising political chatter with signs that retail investors remain largely absent from the action.
Bitcoin (BTC) hovered just under its record near $112,000, while Ether (ETH) surged more than 7% past $2,780. Dogecoin (DOGE) climbed 6%, and other major tokens like Solana (SOL) and XRP posted gains as well.
The broader CoinDesk 20 index advanced over 2%, underscoring strength across major digital assets.
Blockchain analytics firm Santiment noted that retail traders remain on the sidelines—a dynamic that often signals room for further upside.
“History has shown that this is a prime sign of a potential breakout, as crypto markets typically move the opposite direction of the crowd’s expectations,” Santiment posted on X.
“When retail shows fear or impatience, these are often prime opportunities for smart money to step in and accumulate. This time has been no different.”
Crypto markets showed resilience even as geopolitical headlines swirled. U.S. equities were little changed despite President Donald Trump proposing new tariffs, including a 50% levy on copper imports and higher duties on goods from Brazil, which rattled Brazilian markets.
U.S. equity-index futures slipped 0.1%, while global tech stocks continued their climb. Nvidia briefly touched a $4 trillion market cap, highlighting sustained enthusiasm for tech. Meanwhile, Treasury yields edged lower, signaling expectations of continued supportive monetary policy despite political tensions.
“Crypto prices surged to new all-time highs on the back of a supportive risk and equity backdrop,” said Augustine Fan, Head of Insights at SignalPlus.
“BTC climbed above $112K after the U.S. House Committee designated next week as ‘Crypto Week,’ with a July 16 hearing titled Making America the Crypto Capital of the World. Traders are hoping for concrete signals after months of political positioning.”
Fan added that traders remain focused on the six-month soft deadline for crypto policy recommendations set by President Trump in January. The upcoming hearing could bring greater clarity—or at least renewed momentum—toward a comprehensive federal framework for digital assets.
