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Bitcoin’s all-time high at $122K has reignited the crypto market, with over $1 billion in shorts liquidated and rising institutional inflows.
Ethereum is gaining strength with its upcoming zkEVM Layer 1 and staking upgrades, aiming to push the price toward $3,500-$4,000 in the near term.
XRP and Dogecoin are riding the altcoin wave, fueled by ETF speculation, strong weekly gains, and a revival of retail and meme coin enthusiasm.
The cryptocurrency market is entering a new cycle of bullish activity as Monday, July 15, saw Bitcoin surge to a new all-time high of $122,000, continuing its 2025 breakout. With significant spot ETF inflows, liquidated shorts, and regulatory optimism emanating from Washington, it has sent ripples across the broader market.
With significant altcoins like Ethereum (ETH), XRP, and Dogecoin (DOGE) benefiting from Bitcoin's momentum, traders are closely watching for the next leg in the rally.
Bitcoin’s powerful ascent from the $116K level to above $122K came amid over $1 billion in short liquidations, providing the kind of liquidity jolt typically seen at the onset of major bull phases.
According to Augustine Fan, Head of Insights at SignalPlus, the move has put “frothy sentiment back into the crypto markets,” with expectations of sustained momentum through the summer, barring any unexpected macroeconomic shocks.
Notably, analysts are pointing to strong on-chain support at $109,000, along with increasing capital rotation from traditional markets into digital assets, as reasons for the sustained uptrend.
“The trend remains bullish. We could see Bitcoin test $130K-$150K by year-end if macro winds cooperate,” said Eugene Cheung, Chief Commercial Officer at OSL.
Also Read: Bitcoin Price Hits $122K as ETFs and Firms Drive Demand
Ethereum, which recently reclaimed the $3,000 mark, continues to receive strong inflow support, with over $383 million flowing through its ETF channels on Friday alone. As of July 14, inflows stand at $259 million. ETH’s current price of around $2,972 reflects growing confidence in its technical and fundamental roadmap.
The upcoming deployment of zkEVM Layer 1 on Ethereum’s mainnet, scheduled between Q4 2025 and Q2 2026. This zero-knowledge enhancement aims to verify 99% of blocks within 10 seconds while cutting verification costs by 80%.
This could drive massive gains in network efficiency and boost daily gas usage, pushing ETH toward deflationary status through increased fee burning.
Further down the roadmap, Ethereum’s Layer 1-Layer 2 unification efforts are expected to double TVL to $2 trillion while slashing cross-layer transaction costs by 90%.
These aggressive upgrades, culminating in the Ethereum 3.0 sharding rollout by 2028, could help ETH break through resistance levels and target the $3.5K-$4K range in the near term.
Also Read: Ethereum Price Prediction 2025: Can ETH Reach $6,500?
XRP has also joined the altcoin rally, currently trading around $2.84, up nearly 25% over the past week.
Riding the wave of institutional participation, XRP price continues to benefit from speculation surrounding a potential spot ETF approval, with 85% of prediction market participants betting on a green light before the end of the year.
Ripple’s network expansion in Asia and the Middle East, along with bullish chart patterns such as long-term double bottoms, has pushed XRP’s market cap past several stablecoins, reinforcing its status as a leading payments asset.
If Bitcoin stabilizes above $120K, XRP price could retest the $3.10-$3.30 range, and bullish targets suggest a potential for an extended move toward $4 by Q3, provided ETF approval is confirmed and legal clarity persists.
Dogecoin, long known as the face of crypto’s meme coin movement, has jumped over 12% in the past week, now trading near $0.1905. The rally reflects a resurgence in retail enthusiasm and speculative flows into meme-based tokens, often seen when Bitcoin leads major rallies.
DOGE’s resurgence is also tied to broader attention on Elon Musk's influence and potential integration with payment platforms.
If DOGE breaks above the critical $0.21 resistance, traders expect momentum to push it toward the $0.25-$0.28 range, especially if retail activity continues to spike.
One of the key macro developments supporting the current rally is ‘Crypto Week’ in the U.S. Congress, where policymakers are discussing a variety of pro-innovation bills that, if passed, would solidify the U.S. in its leadership role in regulating digitized assets.
The momentum generated from the hearings is creating a positive sentiment as institutions look to position themselves for regulatory clarity and ETF approvals in Q3 and Q4.
Geopolitical issues remain uncertain. U.S. equity and European futures sold off following President Trump's announcement of a 30% tariff on EU and Mexican imports, which raises the specter of a broader trade war.
Compared to silver’s recent uptick, investors appear to be diversifying into hard assets, including cryptocurrencies, as a hedge against geopolitical tensions.
As Bitcoin has surged to an all-time high of over $122,000, and Ethereum, XRP, and Dogecoin have all posted substantial gains, backed by robust narratives, the cryptocurrency market is entering a crucial phase. Layer-1 innovation, growing ETF adoption, and retail re-engagement are converging into a perfect storm for large-cap altcoins.
If macroeconomic conditions remain steady and regulatory clarity continues to develop positively, it’s easy to see ETH heading toward $3,500+, XRP approaching $4, and DOGE testing the $0.25-$0.30 range.
Moving forward, it comes down to Bitcoin holding above $120K and whether this bull run has more fuel left to burn.
1. What pushed Bitcoin to a new all-time high of $122K?
Bitcoin’s rise is fueled by strong ETF inflows, over $1 billion in short liquidations, and optimism around U.S. crypto regulation.
2. Why is Ethereum expected to climb toward $3.5K or more?
Ethereum’s zkEVM upgrade, RISC-V architecture, and validator reforms are increasing scalability, deflationary pressure, and investor confidence.
3. How is XRP performing amid the market rally?
XRP has surged nearly 25% in a week due to increased institutional flows, ETF speculation, and bullish long-term chart patterns.
4. What is driving Dogecoin’s latest rally?
DOGE is benefiting from renewed meme coin momentum, strong retail interest, and potential integration with payment platforms.
5. Could U.S. regulation impact crypto prices further?
Yes, ongoing “Crypto Week” hearings in Congress are fueling sentiment and could lead to landmark ETF approvals and broader adoption.
