Finance

Bitcoin and Ethereum Soar: Will BTC Hit $120,000 and ETH Reach $5,000?

Bitcoin eyes $120K, Ethereum $5K amid easing selling. XRP struggles at $3.00 despite active market.

byAndres Castro

August 28, 2025, 11:12 AM

A physical Ethereum coin stands on its side in front of a blurred U.S. dollar bill

A physical Ethereum cryptocurrency coin is propped up against a blurred American dollar bill. By MDL.

Executive Summary

Bitcoin is extending its recovery, trading near $113,000 and targeting a potential surge to $120,000 due to a breakout from a falling wedge pattern and reduced selling pressure.

Ethereum is also showing strong recovery, trading above $4,600 and aiming for the $5,000 milestone, driven by improved market sentiment.

Ripple’s XRP is facing resistance around the $3.00 level, contrasting with the upward momentum of Bitcoin and Ethereum, though its futures Open Interest remains steady.

The Story So Far

The current recovery in the cryptocurrency market, led by Bitcoin and Ethereum, is primarily fueled by a positive shift in overall market sentiment and a significant reduction in selling pressure across major digital assets, with Bitcoin’s momentum further supported by a technical falling wedge pattern breakout.

Why This Matters

The sustained recovery and ambitious price targets for Bitcoin ($120,000) and Ethereum ($5,000), driven by improved market sentiment and reduced selling pressure, signal a potential broad market rally and increased investor confidence in major cryptocurrencies. However, XRP’s struggle with resistance, despite overall market optimism, underscores that not all digital assets will benefit equally, suggesting a more selective approach may be needed for altcoin investments.

Who Thinks What?

Bitcoin and Ethereum are experiencing a sustained recovery, driven by positive market sentiment and reduced selling pressure, with Bitcoin eyeing $120,000 and Ethereum targeting $5,000.

Ripple’s XRP is grappling with resistance around the $3.00 level, potentially facing a reversal, despite significant market activity indicated by steady futures Open Interest.

Bitcoin (BTC) is extending its recovery and eyeing a potential surge to $120,000, while Ethereum (ETH) is targeting the $5,000 mark, driven by enhanced market sentiment and easing selling pressure. This comes as altcoins, led by Ethereum, show signs of recovery, though Ripple’s XRP (XRP) faces resistance around $3.00, according to an analysis by Fxstreet on Thursday.

Bitcoin’s Breakout Momentum

The flagship cryptocurrency, Bitcoin, is trading near $113,000, following a short-term falling wedge pattern breakout. This technical formation suggests a potential 6% increase, setting the next target for BTC at $120,000.

The sustained recovery is largely attributed to a positive shift in overall market sentiment and a significant reduction in selling pressure across the crypto landscape.

Ethereum’s Ascent Towards $5,000

Ethereum, the second-largest cryptocurrency by market capitalization, has extended its recovery, trading above the $4,600 level. Bulls are now actively pushing for a breakout that could propel ETH towards the significant $5,000 milestone.

Like Bitcoin, Ethereum’s upward movement is benefiting from the broader market’s improved outlook and reduced investor apprehension.

XRP Grapples with Resistance

In contrast to Bitcoin and Ethereum, Ripple’s XRP is encountering challenges in maintaining its position above the $3.00 support level. This struggle could potentially set the stage for a reversal.

Despite this, the futures Open Interest for XRP remains steady above $8 billion, indicating continued significant market activity. Should XRP overcome its current resistance, the next key target could be $3.35.

Overall, the cryptocurrency market is showing signs of renewed vigor, with Bitcoin and Ethereum leading the charge amidst improving sentiment. While XRP navigates its own set of challenges, the broader trend suggests a potential for continued upward momentum for major digital assets as selling pressure subsides.