Cryptocurrency
6 Reasons Behind Bitcoin’s Surge to Uncharted Territory: Can They Push BTC Even Higher?

Bitcoin’s price revival at the end of the business week caught many short traders off guard as the asset skyrocketed to a new all-time high of almost $119,000 following an extended period of muted movements.
Although there was not one single big announcement that could have been related to the explosive rally, there are several reasons that were building up for weeks, which could be attributed to the new peak.
Overall Accumulation
The following reasons will be combined into one category of “overall accumulation,” even though they may vary by investor type, different moments of purchases, etc. We will start with the ETFs as they’re the freshest. As reported yesterday, the spot Bitcoin ETFs in the US attracted more than $2.7 billion within the past five trading days alone.
In addition, they have seen only one day in net outflows since June 9. Both of these factors can drive the underlying asset’s price north, especially when investors spend more than $2 billion to accumulate ETF shares in two consecutive days (July 10 and 11).
Next, we will list the accumulation by large companies. Strategy, which admittedly failed to announce a purchase last week, has spent billions in the past few months to acquire more BTC. Its example has been followed to a smaller extent by other companies that now hold bitcoin as a reserve asset, such as Metaplanet, GameStop, and Semler Scientific.
Although these purchases might not impact the asset’s price immediately, their continuous efforts certainly play a role as they reduce the immediate selling pressure.
The accumulation trend expands well beyond institutions and large companies. Glassnode reported recently that smaller investors, categorized as shrimps, crabs, and fish (wallets holding less than 100 BTC), have been acquiring more than 19,000 BTC per month. In comparison, miner issuance stands at just 13,400 BTC per month.
Looking at accumulation by wallet size: Shrimps, Crabs, and Fish – wallets with <100 $BTC – are accumulating ~19.3k BTC/month, while miner issuance stands at 13.4k BTC/month.
Persistent net absorption across a wide base of holders is creating measurable supply-side tightening. pic.twitter.com/ajut5hlpqv— glassnode (@glassnode) July 12, 2025
The aforementioned purchases from various types of investors, most of whom are transferring their BTC holdings out of exchanges, lead us to the next reason (yes, they are related). According to CryptoQuant, the amount of BTC stored on trading platforms has declined to the lowest level in a decade, another signal that investors are looking for the long term.
Macroeconomic Reasons
The reasons above paint a clear picture that investors are accumulating. Now, let’s get down to why they might be doing so.
Although Trump bombarded numerous nations and entire Unions with new sets of tariffs in the past few weeks, including on Saturday, the effect is nowhere near as devastating to BTC as it was back in April. At the time, bitcoin’s price collapsed to a five-month low, while now, the tariffs are somehow considered beneficial for the cryptocurrency.
As analysts from QCP put it:
“Will Trump delay implementation once again? That remains to be seen. But repeated cycles of tariff threats and postponements have contributed to positive uncertainty. Business sentiment and manufacturing indices have remained firmly in expansion territory.”
BREAKING: President Trump sends out more “tariff letters” with the following tariff rates now announced:
1. Brazil: 50%
2. Myanmar: 40%
3. Laos: 40%
4. Cambodia: 36%
5. Thailand: 36%
6. Bangladesh: 35%
7. Canada: 35%
8. Serbia: 35%
9. Indonesia: 32%
10. European Union: 30%
11.…— The Kobeissi Letter (@KobeissiLetter) July 12, 2025
In the meantime, we will conclude our reasoning with the declining US dollar index. Experts have long predicted a massive parabolic move for BTC once the greenback loses traction. This is because investors tend to jump into store-of-value assets, such as gold and bitcoin, in times when the dollar is weak.
Nicolai Sondergaard, Research Analyst at Nansen, told CryptoPotato that although he didn’t believe this rally was mostly driven by macro events, he thinks certain US policies have attributed to it.
“Recent U.S. policy developments such as fiscal expansion and expectations of further monetary easing have created a backdrop that is undeniably favorable for Bitcoin.”
Will BTC Keep Surging?
The big question now is whether these reasons will continue to push the cryptocurrency higher. In a memo to CryptoPotato, analysts from Bitfinex seemed optimistic.
“Unless ETF inflows collapse or macro takes a sharp turn, the structure remains intact. Bitcoin has flipped $111k–$114k into support, and as long as that holds, the trend is higher. For traders, the message is simple: respect the flows, watch for funding dislocations, and stay tactical around round-number resistance levels for Bitcoin.”
Nevertheless, they warned that “no rally goes up in a straight line.” The analysts added that BTC could be due for a correction first, as they have already started to “see some signs of temporary exhaustion.”
Nansen’s Sondergaard also weighed in on whether bitcoin has the strength to keep marching forward:
“Bitcoin recently broke through key liquidation levels and managed to hold above them, which I believe signaled there was more room for upside.
On the technical side, Bitcoin’s daily RSI has climbed above 70, which is typical in strong momentum phases. It’s not inherently bearish; RSI rising during price rallies is normal. However, if price continues to rise while RSI starts to diverge or decline, that could be an early signal of fading momentum and the potential for a correction.”
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Cryptocurrency
Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

TL;DR
- Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
- Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
- Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.
Large Withdrawals and Whale Activity
Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours.
Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.
One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.
Major ETH Holders Offload Millions Amid Price Rally
In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.
A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months.
Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578.
Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.
The #EthereumFoundation-linked wallet(0xF39d) sold another 1,300 $ETH($5.87M) at $4,518 ~11 hours ago.
Over the past 3 days, this wallet has sold a total of 6,194 $ETH($28.36M) at an average price of $4,578.https://t.co/4hfCWymHVG pic.twitter.com/ErUyEY8SJy
— Lookonchain (@lookonchain) August 15, 2025
Network Activity on the Rise
CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.
Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period.
At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.
In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.
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Cryptocurrency
Massive DOGE Whale Activity Hints at $1 Breakout

TL;DR
- Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
- A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
- DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.
Price and Market Moves
Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion.
Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.
On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.
$Doge/2-week#Dogecoin is gaining strong momentum to surge above $1 pic.twitter.com/TuSEKr19nv
— Trader Tardigrade (@TATrader_Alan) August 15, 2025
Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.
Heavy Whale Buying and Large Transfers
As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community.
Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.
Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.
Whales are back! Dogecoin $DOGE activity at a 1-month high. pic.twitter.com/C83Pv68mCt
— Ali (@ali_charts) August 14, 2025
Sentiment Building
Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding,
“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”
With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.
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Cryptocurrency
Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.
Technical Analysis
By ShayanMarkets
The USDT Pair
On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.
Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.
However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.
This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.
The BTC Pair
Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.
This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.
That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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