The crypto market is up today, with barely any coins in the red over the past 24 hours. The cryptocurrency market capitalization has increased by 2.5%, bringing the total to $4.14 trillion. At the same time, the total crypto trading volume is at $146 billion.
Crypto Winners & Losers
All top 10 coins per market capitalization have increased over the past 24 hours, except for one.
Bitcoin (BTC) is up by 3.4% in a day, holding above the $122,000 mark, now trading at $122,016. This is also the highest rise in this category.
At the same time, Ethereum (ETH) increased by 2%, now changing hands at $4,301.
The smallest rise is 0.4% by Dogecoin (DOGE), which currently changes hands at $0.2381.
The only red coin in this category is Tron (TRX), which, though down, recorded such a minor decrease that it’s practically unchanged, trading at $0.3405.
As for the top 100 coins, the best performer Lido DAO (LDO). It’s up 15.5% to the price of $1.49.
Two more coins noted double-digit increases. Ethena (ENA) is up by 13.7%, now changing hands at $0.8354. Provenance Blockchain (HASH) appreciated 10.8% to $0.03169.
On the other side, only three coins are down by more than 1%. Monero (XMR), Official Trump (TRUMP), and KuCoin (KCS) are all down around 1.5%.
Meanwhile, as Ethereum surged passed the much-anticipated $4,000 mark, Vitalik Buterin reentered the billionaire ranks.
Moreover, Ethereum has surpassed Mastercard with a nearly $520 billion market cap, becoming the 22nd largest asset.
On the other hand, Bitcoin advocate Samson Mow argued that the capital will be flowing back into Bitcoin following this latest Ethereum rally.
‘We Will See a Corrective Bear Market in 2026’
John Glover, Chief Investment Officer of Ledn, argued that once we complete the bull cycle at circa $140,000-$145,000, “we will see a corrective bear market in 2026. But I am not looking for a deep correct, but likely a move to $90,000-$100,000,” he said.
Glover continued that the BTC price action “remains constructive for the completion of wave iv and the beginning of ave v (blue line). This will complete Wave iii (yellow line), at a target of ~$133k.”
The 5 wave count (yellow line) will make up Wave 5 (orange line), which will complete the bull cycle which began in November of 2022 at ~$15,000.
“I know this goes against the popular view that we are going to hit the extreme prognosticator’s views of $250k, $500k, or even $1M in 2025/2026,” he concluded.
Petr Kozyakov, Co-Founder and CEO at payment infrastructure platform Mercuryo, commented that Bitcoin is “within touching distance of a new all-time high amid unrelenting institutional demand.”
He continues: “In a weekend rally, the biggest cryptocurrency has risen 3.2% to eclipse the $122,000 mark. While Ethereum is having its moment in the sun – with its price rising above $4,300 to its highest since December 2021 – the Orange Pill narrative remains firmly in place. Whether as a form of digital gold or as a borderless, tariff-free asset, the undisputed King of Crypto continues to be a driving force in the current rally.”
Levels & Events to Watch Next
At the time of writing on Thursday morning, BTC trades at $122,016. It recorded a sharp jump from the daily low of $118,211 to the day’s highest point of $122,119.
With this move, Bitcoin is nearing the all-time high of $122,838 it hit nearly a month ago. It works to move above the $122,200 level and push higher to a potentially new record high. If the price holds above 123,250, it could open doors to $127,000 and potentially $130,000.
Conversely, BTC may dip to the $113,670 and $110,720 levels.
Also, Ethereum is currently trading at $4,301. Its highest point today was $4,332, to which it surged to $4,172.
ETH now has a chance to rise above $4,335 and $4,400 to move towards its previous ATH of $4,878, seen in November 2021.
Market data suggests that a move to $4,500 may trigger a short squeeze. CoinGlass estimates that around $1.35 billion worth of short positions could be liquidated.
According to technical analyst Lord Hawkins, ETH might enter a markup phase, pushing prices toward $6,000. Other analysts argue that the coin may hit $10,000 relatively soon.
Meanwhile, after several days of neutral territory, the crypto market sentiment has reentered the green zone. The crypto fear and greed index stands at 62 today, up from 59 yesterday.
While the sentiment has gone up into greed, there are currently no indications of an overheated market. Both the market and the sentiment have room to rise further before an inevitable correction.
ETFs Stay Positive
Furthermore, after four days of red, the US BTC spot exchange-traded funds (ETFs) recorded three days of green. On Friday, they recorded inflows of $403.88 million.
Three funds recorded flows and all of them positive. BlackRock leads this list with $359.98 million. It’s followed by Fidelity and Grayscale with $30.49 million and $13.41 million, respectively.
At the same time, the US ETH ETFs recently broke the record with the 20th consecutive day of positive flows. Then it broke that streak with two days of outflows, followed by four days of inflows, including Friday’s. The inflows stood at $461.21 million. This is the highest point since 22 July.
Six of the nine ETFs recorded flows, all of them positive. The highest among these is BlackRock’s $254.73 million, followed by Fidelity’s $132.35 million.
Meanwhile, the interest in digital assets has grown as El Salvador approved its Investment Banking Law. It classifies investment banks separately from commercial lenders, granting them broader powers to hold BTC and other crypto on their balance sheets.
BREAKING: El Salvador approves Investment Banking Law. A new legal framework will allow specialized investment banks to operate in the country — regulated, supervised, and focused on complex financing and digital assets like #Bitcoin.#ElSalvador #DigitalAssets… pic.twitter.com/9ourGCt5d3
— NODEMAN
(@nodemanbtc) August 9, 2025
Additionally, Harvard Management Company disclosed a $116 million position in BlackRock’s iShares Bitcoin ETF, which is one of the largest institutional investments in the fund ever. Harvard held roughly 1.9 million shares of the ETF as of 30 June.
Also, Nasdaq-listed BNB Network Company (BNC) bought 200,000 BNB for $160 million, becoming the largest corporate holder of Binance Coin.
Quick FAQ
- Why did crypto move with stocks today?
The crypto market increased over the past day, as did the stock market on its previous day of trading. On Friday, the S&P 500 was up by 0.78%, the Nasdaq-100 increased by 0.95%, and the Dow Jones Industrial Average rose by 0.47%. The stock market rise followed the lowest weekly performance in several months. Additionally, the investors’ US tariff-related fears decreased.
- Is this rally sustainable?
In the long term, the rally is likely to continue. However, pullbacks that follow surges such as this latest one are typical and expected.
The post Why Is Crypto Up Today? – August 11, 2025 appeared first on Cryptonews.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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