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.

Why Is Crypto Going Up Today? Major Cryptocurrency Performance Breakdown

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 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 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 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 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.