Bitcoin
(BTC) price surges toward $120,000 as President Trump’s European Union tariff
reduction sparks renewed optimism across cryptocurrency markets. Altcoins are
following the lead of the oldest cryptocurrency: Ethereum (ETH) is extending
this year’s highs, while Dogecoin (DOGE) and XRP are also rising, though both
are being held back by local resistance levels.

In the
article 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 analysis
indicates for ETH/USDT, BTC/USDT, DOGE/USDT, and XRP/USDT charts.

Bitcoin Tests $120K
Barrier on Tariff Optimism

The
cryptocurrency market exploded with fresh momentum as President
Trump announced a significant trade deal with the European Union, slashing
tariffs from a threatened 30% down to 15%. This diplomatic breakthrough sent
shockwaves through financial markets, with Bitcoin price leading
the charge toward the psychologically crucial $120,000 level.

Bitcoin’s
technical picture remains compelling despite the recent surge. According to my
analysis, the world’s largest cryptocurrency has maintained its position within
a tight consolidation range between $116,000 and $119,000 over the past week.
The current rally represents more than just speculative enthusiasm, it signals
reduced macroeconomic uncertainty that has plagued markets throughout 2025.

From a
technical analysis perspective, Bitcoin remains locked in a narrow
consolidation just below its all-time highs last
seen on July 14 when it briefly touched $122,000. Even during that historic
session, closing prices remained below the psychological $120,000 level, which
continues to serve as the upper boundary of current consolidation patterns. The
lower band sits firmly at $116,000, marking recent local lows.

Short-term
correction risks persist if Bitcoin fails to establish new price discovery
above current resistance. However, bulls shouldn’t panic given
the robust support structure at $112,000, the previous all-time high from
May that coincides with the 50-day moving average.

Even a
breakdown below this level would leave bears in control only until the $100,000
psychological barrier, where the 200-day exponential moving average provides
additional technical support.

Related: Tom
Lee Called Bitcoin’s Peak In 2024 And Just Made Another Bold 2,400% BTC Price
Prediction

Ethereum Powers Toward
$4,000 Milestone

Ethereum price emerged
as Sunday’s standout performer, posting impressive 3.5% gains while deepening
its 2025 maximums and testing the $3,882 level. Monday’s session brought
continued strength with tests of $3,941 before settling around $3,891, representing
approximately 0.4% daily gains.

My
technical analysis reveals that ETH’s breakthrough above local resistance at
$3,800, which had capped prices since July 20 highs, opens
the pathway for further advances toward the psychologically significant $4,000
level. This target coincides with December 2024 peaks, creating a
formidable resistance zone that may prove challenging to overcome in the near
term.

Institutional
interest in Ethereum continues building as companies like SharpLink announce
plans to build ETH treasuries. This corporate adoption mirrors Bitcoin’s
institutional journey, suggesting structural demand beyond retail
speculation. Historical market cycles typically show periods of ETH
outperformance following Bitcoin rallies, which may further fuel trading demand
in coming sessions.

The
risk-reward profile remains attractive even considering potential pullbacks.
Corrections toward $3,800 or deeper retracements to $3,400, where January 2025
local peaks reside, would present buying opportunities. Even declines toward
$3,000, where the 61.8% Fibonacci retracement and exponential moving average
converge, should remain under bullish control given everything above $3,000
stays within the bulls’ domain.

Check
also our Ethereum price prediction: The
Newest Ethereum Price Prediction Shows ETH Could Hit $15K in 2025

XRP Momentum Builds
Despite Resistance

XRP price demonstrated
resilience throughout Sunday’s 2.3% advance, extending gains into Monday with
tests of $3.33 before encountering resistance at the $3.30 zone. Current
trading shows the asset down nearly 1% at $3.27, reflecting the ongoing battle
between bulls and bears at crucial technical levels.

The
cryptocurrency’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 continued
upside potential. Strong afternoon volume surges, particularly the 81.78
million and 69.06 million spikes well above the 24-hour average of 38.25
million, confirm persistent buying interest.

Technical
analysis reveals XRP remains constrained by January peaks around $3.30 after
recently testing $3.60 near new historical maximums. A sharp single-day
decline exceeding 10% pulled prices back into a lower consolidation range
between $2.96 and the mentioned $3.30 resistance. Should XRP break from this
sideways pattern, support levels await around $2.75 and $2.65, coinciding
with 50% retracement levels from 2025 advances.

The path
forward requires decisive action above $3.23 resistance to confirm short-term
bullish continuation. Traders are monitoring whether XRP can hold above $3.20
amid broader market consolidation while watching for follow-through volume that
could test the $3.25-$3.30 range.

You may
also like: XRP
Trades in Range as Analysts Predict $6 by 2025 Amid SWIFT Transaction Decline

Dogecoin Eyes Golden Cross
Formation

Dogecoin
captured Sunday’s spotlight with robust 8% gains before Monday’s session tested
intraday maximums just below the 25-cent level. Current pricing at $0.2438
represents a 1.5% advance from Sunday’s close, reflecting continued momentum
despite facing resistance challenges.

The meme
cryptocurrency’s technical situation closely mirrors XRP’s dynamics. Following
last week’s sharp single-day decline of nearly 12% and failed test of
significant resistance around 29 cents, levels last observed in February, DOGE
currently faces blockade by May peaks near 25 cents.

What maWcoin price
particularly intriguing from my technical standpoint is its position on the
verge of generating a powerful golden cross signal. This occurs when the
50-day moving average crosses above the 200-day average, creating what
technical analysts consider one of the strongest bullish indicators. Both
averages 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: DOGE
Price Predictions Eye Test of 5 Month Highs

Why Is Crypto Surging? Institutional
Adoption Drives Structural Shift

The July
cryptocurrency rally represents more than speculative fervor, it marks a fundamental
transformation in digital asset adoption patterns. Public companies are
increasingly raising capital specifically for crypto treasury strategies, while
traditional financial institutions scramble to meet surging demand for
cryptocurrency-related services.

“We
are seeing an incredible number of companies raising money on public markets to
adopt crypto treasury strategies. Banks and other financial institutions are
scrambling to roll out cryptocurrency-related services to meet increasing demand,”
said Jeff Mei, COO at BTSE.

The passing
of the GENIUS Act alongside cryptocurrencies reaching a collective $4 trillion
market capitalization represents crucial industry milestones. This legislative
progress, combined with Trump’s tariff diplomacy reducing trade war fears,
creates an environment conducive to continued digital asset appreciation.

Bitcoin, Ethereum, XRP and
Dogecoin Price Predictions Table

Below you
will find a summary of crypto price predictions for Bitcoin (BTC), Ethereum
(ETH), Dogecoin (DOGE), and XRP we recently wrote on FinanceMagnates.com.

Here is a
summary of crypto price predictions for Bitcoin (BTC), Ethereum (ETH),
Dogecoin (DOGE), and XRP found only on FinanceMagnates.com. All
predictions are based on public articles, with links provided:

Here’s the
updated table with the author/analyst names instead of source titles and
dates, and forecast summaries without links. The source URLs are still
included in the last column for reference.

“The path towards $4,500 by the end of Q3 for Ethereum is increasingly
plausible if macro tailwinds align. However, if macro conditions worsen, a
retracement 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 price
could bounce back from that range. With on-chain and ETF data flashing green
and BTC dominance in retreat, Ethereum is positioned to lead the next phase of
market expansion, particularly if the Fed signals the end of tightening is
near,” said Shawn Young, Chief Analyst at MEXC.

Crypto News FAQ

Why Is the Crypto Market
Going Up?

The crypto
market surge stems from Trump’s EU tariff deal reducing macro uncertainty, $15
billion in Bitcoin ETF inflows, massive short liquidations exceeding $460
million, and accelerating institutional adoption with companies integrating
crypto treasury strategies.

Why Is Bitcoin on the Rise
Right Now?

Bitcoin’s
rally toward $120,000 is fueled by institutional ETF demand, political pressure
on the Federal Reserve, declining volatility preceding major moves, corporate
treasury adoption, and regulatory momentum around digital asset legislation
creating structural buying pressure.

Can Ethereum Reach $10K?

While
Ethereum currently tests $4,000 resistance, reaching $10,000 would require
sustained institutional adoption, successful tokenization trends, continued ETH
treasury strategies by corporations, and breakthrough above multiple technical
resistance levels. Current momentum suggests $4,000 represents the immediate
target.

Why Is XRP Going Up So
Much?

XRP’s surge
reflects institutional accumulation patterns, strong volume spikes above
average levels, technical breakouts from consolidation ranges, speculation
around ETF developments, and renewed interest in cross-border payment utility
driving sustained buying pressure.

Is Dogecoin Going to Hit
$1?

Dogecoin
reaching $1 would require breaking above current 25-cent resistance, completing
the golden cross technical formation, sustained meme coin momentum, and broader
crypto market continuation. Current technical analysis suggests 25-30 cents
represents more realistic near-term targets before considering dollar levels.