Cryptocurrency market grows amid political and technical shifts

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Cryptocurrency market grows

Key highlights

• Bitcoin’s bullish sentiment strengthened after President Donald Trump appointed BTC supporter Stephen Miran to the Federal Reserve Board, coinciding with a “golden cross” on the weekly chart.

• Ethereum surpassed $4,200 on strong institutional buying and reached a record supply of 121 million ETH, with over 36 million locked in staking.

• XRP climbed 10% to $3.33 after Ripple ended its nearly five-year legal battle with the SEC, with derivatives trading volume nearly doubling in 24 hours.

• Dogecoin broke the $0.23 resistance, rising to $0.24, as SEC approval odds for a spot ETF increased to 71%, triggering whale accumulation.

Golden cross signals long-term Bitcoin optimism

Mid-term prospects for Bitcoin have improved with Miran’s appointment and the emergence of a golden cross — historically a reliable bullish pattern that has preceded rallies of up to 2,200%. Currently trading near $118,000, Bitcoin is up 25% year-to-date, trailing only gold’s 29% gain among major assets. Long-term, BTC remains unmatched with a cumulative return of 38 897 420% percent since 2011. Analyst Merlijn The Trader said this “never-miss” signal could spark explosive growth.

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Ethereum driven by whales and record supply

Ethereum’s price surge above $4,200 marks its highest level since December 2024, supported by retail enthusiasm and over 1.03 million ETH ($4.1 billion) purchased since mid-July, at an average price of $3,546. The network’s circulating supply has hit 121 million ETH, with more than 36 million staked, reducing inflationary pressure. Analysts warn that sustained demand will be essential to maintain stability amid this growing supply base.

XRP rallies after legal win

XRP jumped over 10% following Ripple’s victory in its prolonged legal dispute with the SEC. Analysts foresee targets between $8 and $10 if resistance levels are broken. The legal clarity has already sparked institutional interest, with XRP derivatives volumes up 197% in a day and options activity soaring more than 1,300%.

Dogecoin gains on ETF speculation

Dogecoin rose to $0.24 after breaking past long-standing resistance at $0.23. Analyst Crypto Patel sees potential for a move to $2 if the accumulation zone holds. The odds of SEC approval for a spot DOGE ETF have climbed from 51% to 71%, with whales opening over $12 million in long positions within a day.

Outlook

With Bitcoin’s golden cross, Ethereum’s whale accumulation, XRP’s legal breakthrough, and ETF speculation around Dogecoin, the market is entering a phase of heightened volatility and opportunity.

Analysts suggest that if favorable macroeconomic conditions persist, these developments could set the stage for one of the most significant multi-asset rallies in recent crypto history.

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