Despite continued declines on Wall Street and turmoil in the technology sector, the most popular cryptocurrencies managed to rebound from multi-week lows.

Bitcoin (BTC) gained 1.3% during Wednesday’s session, Dogecoin (DOGE) rose nearly 6%, XRP climbed 3%, and Ethereum (ETH) advanced 6.5%. And although we are seeing slight corrections today (Thursday), market sentiment is once again turning bullish.

In this article, I examine why crypto is going up, provide a technical review of the BTC/USDT, DOGE/USDT, ETH/USDT, and XRP/USDT charts, and present the latest expert forecasts.

Bitcoin Price Leads the Charge with Record-Breaking Performance

Bitcoin has established itself as the undisputed leader of the current crypto surge, hitting an all-time high of $124,290.93 on August 14, 2025, according to CoinMarketCap data. As of August 21, 2025, Bitcoin trades at $113,887, representing a market capitalization of approximately $2.26 trillion and rising 1.3% in the last 24 hours.

The digital gold narrative has gained institutional validation. BlackRock's iShares Bitcoin ETF (IBIT) has accumulated $86.79 billion in assets under management, making it the fastest-growing ETF in U.S. history. Combined Bitcoin and Ethereum ETF inflows exceeded $13.2 billion year-to-date through Q2 2025, with institutional demand outstripping Bitcoin production by 2.5x since January 2024.

Corporate treasury adoption continues accelerating, with over 244 companies now holding Bitcoin on balance sheets, nearly doubling from early 2025. MicroStrategy (rebranded as "Strategy") leads with over 582,000 BTC worth $62+ billion, having raised $584 million in January 2025 through convertible preferred shares for additional purchases.

"The Bitcoin pullback to circa below $115,000 isn't surprising given the gap on the CME futures that was present over the weekend," Paul Howard, Director at Wincent, commented for FinanceMagnates.com. "As stated previously, my mid-term forecast is price action oscillates around the $110,000-$120,000 levels for Q3 and whilst there is still a risk of a black swan event triggering a bigger drawdown, given the record low volatility, my expectation is we stay within these bounds and gradually climb higher especially as the growth and access provided from treasury companies continues."

Ethereum Surge Driven by ETF Momentum and DeFi Growth

Ethereum currently trades at $4,304, boasting a market capitalization of $519 billion and 24-hour trading volume of $46 billion as of August 21, 2025. The world's second-largest cryptocurrency has posted impressive gains of more than 6% in the past 24 hours, rebounding visibly from the local lows.

Ethereum's rally gained significant momentum from record-breaking ETF performance in August 2025. U.S. spot Bitcoin and Ethereum ETFs achieved $40 billion weekly trading volume in early August, with Ether ETFs accounting for $17 billion and attracting over $3 billion in inflows over two weeks. This institutional interest reflects growing recognition of Ethereum's utility in decentralized finance (DeFi) and smart contract applications.

The DeFi ecosystem continues expanding, with Lido commanding over $10.2 billion in total value locked (TVL) through liquid staking services. Aave, Uniswap, and other protocols are driving innovation in cross-chain interoperability and traditional finance integration, with Deutsche Bank building an Ethereum Layer 2 solution and BlackRock's BUIDL fund expanding across six blockchains.

XRP Price Breaks New Ground amid Regulatory Optimism

XRP has surged to $2.90, representing a market capitalization of $173 billion with $6.5 billion in 24-hour trading volume. A 3% gain over the past 24 hours is also noticeable, allowing the cryptocurrency’s price to rebound from its August lows.

The SEC's crypto-friendly approach under Chairman Paul Atkins, who replaced Gary Gensler in January 2025, has significantly improved regulatory outlook for XRP. The passage of the GENIUS Act in June 2025 provided crucial stablecoin regulatory clarity, while XRP ETF applications from Grayscale, 21Shares, and Bitwise await SEC decisions between October 2025 and January 2026.

Cross-border payment adoption continues driving XRP utility. PayPal's "Pay with Crypto" launch on July 28, 2025, supports over 100 cryptocurrencies including XRP, targeting 650+ million global crypto users and reducing cross-border transaction fees by up to 90%. The global cross-border payments market is projected to grow from $212.5 billion in 2024 to $320.7 billion by 2030.

Dogecoin Maintains Meme Coin Leadership Position

Dogecoin trades at $0.22, maintaining its position as the ninth-largest cryptocurrency with a market capitalization of $33 billion and $2.8billion in daily trading volume. DOGE rose 6% in the last 24 hours and is rebounding from the psychological support zone, including 50 and 200 EMAs and $0.20.

The meme coin has benefited from broader crypto market optimism and potential Dogecoin ETF developments. Bloomberg analyst Eric Balchunas assigns a 75% approval chance for Dogecoin ETFs, which could provide institutional access similar to Bitcoin and Ethereum funds.

Why Crypto Is Going Up?

Wednesday’s rebound is particularly notable given that the stock market continued its sell-off. The Nasdaq 100 fell another 0.6%, briefly testing its August lows and extending Tuesday’s sharp decline. The S&P 500 slipped 0.24% after dropping nearly 0.6% the previous day.

Several macroeconomic factors, however, are creating favorable conditions for cryptocurrency adoption in 2025. The U.S. dollar experienced its worst first-half performance in over 50 years, declining 10.8% and driving investors toward alternative assets. Weak dollar conditions historically correlate with strong crypto performance, as demonstrated during the 2020-2021 period when Bitcoin surged from $5,000 to over $60,000.

Federal Reserve policy uncertainty supports crypto demand, with markets pricing 1.5-2.5 rate cuts by end-2025. Lower rates reduce the opportunity cost of holding non-yielding assets like Bitcoin while making higher-risk investments more attractive. Global economic uncertainty from trade tensions, geopolitical conflicts, and policy volatility further drives institutional portfolio diversification into uncorrelated assets.

Institutional adoption has reached unprecedented levels, with 71% of institutional investors now holding digital assets and crypto hedge fund assets under management reaching $136.2 billion in Q2 2025. State pension funds in Wisconsin and Michigan have invested in Bitcoin ETFs, while major banks including JPMorgan have reversed previous anti-crypto stances.

Crypto Price Predictions. How High Can Bitcoin, Ethereum, Dogecoin and XRP Go?

Analyst projections for 2025 remain bullish, with Bitcoin targets ranging from $180,000 (VanEck) to $200,000 (Standard Chartered), while Ethereum could exceed $6,000 according to VanEck research. However, investors should consider potential risks including regulatory changes, market volatility, and technical correction possibilities.

Current market conditions reflect fundamental improvements in crypto infrastructure, institutional adoption, and regulatory clarity rather than speculative excess. The convergence of institutional demand, supply constraints, and improving macroeconomic conditions creates a compelling case for continued cryptocurrency appreciation through 2025.

Cryptocurrency Market Analysis FAQ

What's driving cryptocurrency prices higher in 2025?

Multiple factors including institutional ETF adoption, regulatory clarity, dollar weakness, supply constraints from Bitcoin halving, and improving market infrastructure are converging to drive crypto demand.

Are current crypto price levels sustainable?

Technical indicators and institutional adoption trends suggest underlying strength, though markets remain volatile. Strong support levels and continued institutional inflows provide fundamental backing for current valuations.

What role do ETFs play in crypto price increases?

Crypto ETFs have attracted over $13.2 billion in inflows year-to-date, with BlackRock's Bitcoin ETF alone holding $86.79 billion. ETF demand often outstrips Bitcoin production, creating supply scarcity.