Why Is Crypto Going Up Today? Bitcoin Hits $120K, Ethereum Price at 2025 High, Dogecoin and XRP Follow
Bitcoin(BTC) price surges toward $120,000 as President Trump's European Union tariffreduction sparks renewed optimism across cryptocurrency markets. Altcoins arefollowing the lead of the oldest cryptocurrency: Ethereum (ETH) is extendingthis year’s highs, while Dogecoin (DOGE) and XRP are also rising, though bothare being held back by local resistance levels.
In thearticle below, I examine the reasons behind the rally and answer the question:why are crypto prices going up today? I also look at what technical analysisindicates for ETH/USDT, BTC/USDT, DOGE/USDT, and XRP/USDT charts.
Bitcoin Tests $120KBarrier on Tariff Optimism
Thecryptocurrency market exploded with fresh momentum as PresidentTrump announced a significant trade deal with the European Union, slashingtariffs from a threatened 30% down to 15%. This diplomatic breakthrough sentshockwaves through financial markets, with Bitcoin price leadingthe charge toward the psychologically crucial $120,000 level.
Bitcoin'stechnical picture remains compelling despite the recent surge. According to myanalysis, the world's largest cryptocurrency has maintained its position withina tight consolidation range between $116,000 and $119,000 over the past week.The current rally represents more than just speculative enthusiasm, it signalsreduced macroeconomic uncertainty that has plagued markets throughout 2025.
From atechnical analysis perspective, Bitcoin remains locked in a narrowconsolidation just below its all-time highs lastseen on July 14 when it briefly touched $122,000. Even during that historicsession, closing prices remained below the psychological $120,000 level, whichcontinues to serve as the upper boundary of current consolidation patterns. Thelower band sits firmly at $116,000, marking recent local lows.
Short-termcorrection risks persist if Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term fails to establish new price discoveryabove current resistance. However, bulls shouldn't panic giventhe robust support structure at $112,000, the previous all-time high fromMay that coincides with the 50-day moving average.
Even abreakdown below this level would leave bears in control only until the $100,000psychological barrier, where the 200-day exponential moving average providesadditional technical support.
Related: TomLee Called Bitcoin's Peak In 2024 And Just Made Another Bold 2,400% BTC PricePrediction
Ethereum Powers Toward$4,000 Milestone
Ethereum price emergedas Sunday's standout performer, posting impressive 3.5% gains while deepeningits 2025 maximums and testing the $3,882 level. Monday's session broughtcontinued strength with tests of $3,941 before settling around $3,891, representingapproximately 0.4% daily gains.
Mytechnical analysis reveals that ETH's breakthrough above local resistance at$3,800, which had capped prices since July 20 highs, opensthe pathway for further advances toward the psychologically significant $4,000level. This target coincides with December 2024 peaks, creating aformidable resistance zone that may prove challenging to overcome in the nearterm.
Institutionalinterest in Ethereum continues building as companies like SharpLink announceplans to build ETH treasuries. This corporate adoption mirrors Bitcoin'sinstitutional journey, suggesting structural demand beyond retailspeculation. Historical market cycles typically show periods of ETHoutperformance following Bitcoin rallies, which may further fuel trading demandin coming sessions.
Therisk-reward profile remains attractive even considering potential pullbacks.Corrections toward $3,800 or deeper retracements to $3,400, where January 2025local peaks reside, would present buying opportunities. Even declines toward$3,000, where the 61.8% Fibonacci retracement and exponential moving averageconverge, should remain under bullish control given everything above $3,000stays within the bulls' domain.
Checkalso our Ethereum price prediction: TheNewest Ethereum Price Prediction Shows ETH Could Hit $15K in 2025
XRP Momentum BuildsDespite Resistance
XRP price demonstratedresilience throughout Sunday's 2.3% advance, extending gains into Monday withtests of $3.33 before encountering resistance at the $3.30 zone. Currenttrading shows the asset down nearly 1% at $3.27, reflecting the ongoing battlebetween bulls and bears at crucial technical levels.
Thecryptocurrency's recent performance showcases both strength and vulnerability.While XRP successfully bounced from early session lows around $3.15,institutional accumulation patterns and late-session rallies hint at continuedupside potential. Strong afternoon volume surges, particularly the 81.78million and 69.06 million spikes well above the 24-hour average of 38.25million, confirm persistent buying interest.
Technicalanalysis reveals XRP remains constrained by January peaks around $3.30 afterrecently testing $3.60 near new historical maximums. A sharp single-daydecline exceeding 10% pulled prices back into a lower consolidation rangebetween $2.96 and the mentioned $3.30 resistance. Should XRP break from thissideways pattern, support levels await around $2.75 and $2.65, coincidingwith 50% retracement levels from 2025 advances.
The pathforward requires decisive action above $3.23 resistance to confirm short-termbullish continuation. Traders are monitoring whether XRP can hold above $3.20amid broader market consolidation while watching for follow-through volume thatcould test the $3.25-$3.30 range.
You mayalso like: XRPTrades in Range as Analysts Predict $6 by 2025 Amid SWIFT Transaction Decline
Dogecoin Eyes Golden CrossFormation
Dogecoincaptured Sunday's spotlight with robust 8% gains before Monday's session testedintraday maximums just below the 25-cent level. Current pricing at $0.2438represents a 1.5% advance from Sunday's close, reflecting continued momentumdespite facing resistance challenges.
The memecryptocurrency's technical situation closely mirrors XRP's dynamics. Followinglast week's sharp single-day decline of nearly 12% and failed test ofsignificant resistance around 29 cents, levels last observed in February, DOGEcurrently faces blockade by May peaks near 25 cents.
What maWcoin priceparticularly intriguing from my technical standpoint is its position on theverge of generating a powerful golden cross signal. This occurs when the50-day moving average crosses above the 200-day average, creating whattechnical analysts consider one of the strongest bullish indicators. Bothaverages currently converge around the psychological 20-cent support level.
Should this crossover materialize within the coming days, technical analysis enthusiasts will receive another compelling signal supporting DOGE investment strategies. The consolidation between 23-24 cents, despite heavy volume and final-hour selling pressure, suggests a potential breakout setup that could target the 25-cent resistance zone and beyond.
Related: DOGEPrice Predictions Eye Test of 5 Month Highs
Why Is Crypto Surging? InstitutionalAdoption Drives Structural Shift
The Julycryptocurrency rally represents more than speculative fervor, it marks a fundamentaltransformation in digital asset adoption patterns. Public companies areincreasingly raising capital specifically for crypto treasury strategies, whiletraditional financial institutions scramble to meet surging demand forcryptocurrency-related services.
"Weare seeing an incredible number of companies raising money on public markets toadopt crypto treasury strategies. Banks and other financial institutions arescrambling to roll out cryptocurrency-related services to meet increasing demand,”said Jeff Mei, COO at BTSE.
The passingof the GENIUS Act alongside cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term reaching a collective $4 trillionmarket capitalization represents crucial industry milestones. This legislativeprogress, combined with Trump's tariff diplomacy reducing trade war fears,creates an environment conducive to continued digital asset appreciation.
Bitcoin, Ethereum, XRP andDogecoin Price Predictions Table
Below youwill find a summary of crypto price predictions for Bitcoin (BTC), Ethereum(ETH), Dogecoin (DOGE), and XRP we recently wrote on FinanceMagnates.com.
Here is asummary of crypto price predictions for Bitcoin (BTC), Ethereum (ETH),Dogecoin (DOGE), and XRP found only on FinanceMagnates.com. Allpredictions are based on public articles, with links provided:
Here's theupdated table with the author/analyst names instead of source titles anddates, and forecast summaries without links. The source URLs are stillincluded in the last column for reference.
|
Cryptocurrency |
Author / Analyst |
Forecast Summary |
|
Bitcoin (BTC) |
Tom Lee (Fundstrat) |
$250K by end-2025; potential long-term target of $2.5M–$3M |
|
Mitch Goldberg (Financial Advisor) |
Base case of $200K–$500K by mid-2030s; long-term target $500K by 2030 | |
|
Mikybull Crypto |
Technical breakout scenario targets $130K–$135K in 2025; long-term potential near $1M | |
|
Ethereum (ETH) |
Mark Newton (Fundstrat) |
Short-term target of $3.9K–$4.5K; medium-term $8K–$15K; long-term $15K–$20K |
|
Daan Crypto Trades |
Bullish pattern suggests move toward $3,000 in coming months | |
|
Rekt Capital |
Technical resistance near $3,500 with breakout scenario toward $4,000+ | |
|
Dogecoin (DOGE) |
Trader Tardigrade |
Forecasts price reaching $0.40 based on breakout model |
|
Jake Wujastyk |
Technical analysis points to $0.45 as potential breakout target | |
|
Rose Premium Signals |
Range projection of $0.37–$0.61; broader targets above $1 long-term | |
|
Markets Insider Analysts |
Short-term move toward $0.30 based on ETF sentiment and media momentum | |
|
XRP (Ripple) |
CryptoInsight Analytics |
Technical and Fibonacci-based projections of $5.25–$6 in 2025 |
|
AMBCrypto Analysts |
Momentum-based prediction of $2.60–$3.00 in near term | |
|
General Editorial Recap |
Reaffirms previous projections of XRP surpassing $6 during 2025 |
"The path towards $4,500 by the end of Q3 for Ethereum is increasinglyplausible if macro tailwinds align. However, if macro conditions worsen, aretracement towards $3,500 and potentially further to $3,300 could be on cards,but bulls are expected to aggressively defend the key $3,500 support, and pricecould bounce back from that range. With on-chain and ETF data flashing greenand BTC dominance in retreat, Ethereum is positioned to lead the next phase ofmarket expansion, particularly if the Fed signals the end of tightening isnear," said Shawn Young, Chief Analyst at MEXC.
Crypto News FAQ
Why Is the Crypto MarketGoing Up?
The cryptomarket surge stems from Trump's EU tariff deal reducing macro uncertainty, $15billion in Bitcoin ETF inflows, massive short liquidations exceeding $460million, and accelerating institutional adoption with companies integratingcrypto treasury strategies.
Why Is Bitcoin on the RiseRight Now?
Bitcoin'srally toward $120,000 is fueled by institutional ETF demand, political pressureon the Federal Reserve, declining volatility preceding major moves, corporatetreasury adoption, and regulatory momentum around digital asset legislationcreating structural buying pressure.
Can Ethereum Reach $10K?
WhileEthereum currently tests $4,000 resistance, reaching $10,000 would requiresustained institutional adoption, successful tokenization trends, continued ETHtreasury strategies by corporations, and breakthrough above multiple technicalresistance levels. Current momentum suggests $4,000 represents the immediatetarget.
Why Is XRP Going Up SoMuch?
XRP's surgereflects institutional accumulation patterns, strong volume spikes aboveaverage levels, technical breakouts from consolidation ranges, speculationaround ETF developments, and renewed interest in cross-border payment utilitydriving sustained buying pressure.
Is Dogecoin Going to Hit$1?
Dogecoinreaching $1 would require breaking above current 25-cent resistance, completingthe golden cross technical formation, sustained meme coin momentum, and broadercrypto market continuation. Current technical analysis suggests 25-30 centsrepresents more realistic near-term targets before considering dollar levels.
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