Bitcoin Gains $2K in Hours, Rally Spurs Broader Crypto Momentum

Bitcoin experienced a dramatic price surge, climbing over $2,000 in just a few hours and briefly crossing the $108,000 mark.

Written by: Sophia Cruz • Tuesday, June 10, 2025 • 2 min read

• Last updated: Tuesday, June 10, 2025

Quick overview

Bitcoin surged over $2,000 in a few hours, briefly surpassing $108,000, marking a significant breakout above resistance levels.
Strong ETF inflows of approximately $2.8 billion in May indicate growing institutional confidence in Bitcoin.
Overleveraged short positions are being unwound, adding upward pressure on Bitcoin's price as shorts are forced to buy back.
The bullish momentum is also benefiting other cryptocurrencies like Ethereum, XRP, and Dogecoin, suggesting a broader market rally.

Bitcoin experienced a dramatic price surge, climbing over $2,000 in just a few hours and briefly crossing the $108,000 mark.

This rapid movement marked a key breakout above technical resistance levels and has reignited bullish sentiment across the broader crypto market.

The sudden rally, often described by traders as a “God candle,” pushed Bitcoin from around $105,500 to a high near $107,700 within a few short hours. Market watchers now speculate on potential targets at $110,000 and beyond, with some eyeing the $120,000 level if the momentum holds. Technical analysts note that holding support above $106,500 could trigger more aggressive upside moves, potentially fueled by short squeezes.

Contributing to the surge are strong ETF inflows. Bitcoin ETFs recorded roughly $2.8 billion in net inflows during May, raising total assets held in these products to over $122 billion. This significant capital movement indicates growing institutional confidence and a shift in long-term investment strategies favoring Bitcoin.

At the same time, overleveraged short positions are being unwound. With nearly $15 billion worth of shorts at risk, liquidations are accelerating upward pressure. As shorts get squeezed, they are forced to buy back Bitcoin, further propelling the price.

This bullish wave is lifting other major cryptocurrencies as well. Ethereum has rebounded strongly, reclaiming the $2,700 level and pushing toward $2,800. A break above this range could position ETH to test $3,000 in the coming sessions. XRP and Dogecoin are also gaining ground, buoyed by favorable sentiment and improving technical indicators.

The crypto market’s current momentum is not purely technical. Broader macroeconomic conditions, increased investor confidence, and fresh capital inflows are all playing vital roles. The market appears to be in a phase where bullish catalysts are aligning, creating a ripe environment for continued growth.

For investors and analysts alike, this latest price action signals a potential turning point. If key support zones hold and resistance levels are broken, Bitcoin and the broader crypto market may be entering a new leg of the bull cycle.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.