Bitcoin News Today: Altcoins Outperform Bitcoin as Ether, Dogecoin and XRP Surge 7.3% to 12%

Ether, Dogecoin, and XRP led a broad rally in the cryptocurrency market amid growing risk appetite globally, with altcoins outperforming Bitcoin. Ether gained 7.3% to $3,935, while XRP surged 12% to $3.36, and Dogecoin climbed 8.8% to $0.2203. Solana added 4.7% to $175.19. The total crypto market cap rose 3% to $3.76 trillion over the past 24 hours, with the gains primarily driven by altcoins[1].

Meanwhile, Bitcoin saw a more modest 1.9% increase to $116,781 on $38.8 billion in daily volume. FxPro chief market analyst Alex Kuptsikevich noted that the crypto rebound coincides with “growing appetite in the stock markets,” but cautioned that Bitcoin remains “trapped in a narrow range” between $112,000 support and $120,000 resistance[1]. The support level aligns with the 50-day moving average and recent lows, while the resistance is defined by July highs and a key psychological level.

Global equity markets also showed strength, with the MSCI Asia Pacific Index gaining 0.5% for its fifth consecutive day of gains. Japan’s Nikkei-225 surged 2.3% as trade tensions between the U.S. and Japan eased. However, oil prices faced downward pressure, with Brent and WTI futures set for their largest weekly decline since June, driven by rising U.S. inventories and weaker Chinese import data[1].

Glassnode data indicated that Bitcoin market sentiment has shifted from “euphoria” to “cooling off,” as spot ETF inflows have dropped nearly 25%, network activity declined, and transaction fees fell. Options positioning also suggests increased hedging for BTC below $100,000 into late August, which may serve as a form of insurance against volatility[1].

The broader rally in crypto appears to be part of a broader shift in investor sentiment toward risk assets, with both equities and cryptocurrencies benefiting. However, Bitcoin’s muted performance and technical constraints highlight the challenges facing the leading cryptocurrency as it attempts to break out of a consolidation phase[1].

Source: [1] Ether, Dogecoin Rally as XRP Soars 12% in Altcoin-Led Crypto Surge (https://www.coindesk.com/markets/2025/08/08/ether-dogecoin-rally-as-xrp-soars-12-in-altcoin-led-crypto-surge)