Bitcoin News Today: Bitcoin Surges 2.8% on $4.2 Billion Bullish IPO and Fed Rate Cut Hopes

The cryptocurrency market surged on August 4, 2025, as Bitcoin and several altcoins saw significant price increases, continuing a rally that started over the weekend [1]. Bitcoin (BTC) rose to $115,300, rebounding from a low of $112,000, with altcoins like Spark (SPK), MemeCore (M), Mantle (MNT), and Sei (SEI) among the top performers [1]. The total market cap of all cryptocurrencies climbed above $3.78 trillion, signaling renewed investor confidence [1].

A key driver of the market's upward movement was the anticipated $4.2 billion initial public offering (IPO) of Bullish, a crypto exchange backed by Peter Thiel. The company plans to raise $629 million by offering 20.3 million shares [1]. This follows a successful $60 billion market cap peak for Circle Internet’s IPO, and similar IPO plans from Grayscale and Kraken have further fueled optimism in the market [1].

Political developments also played a role in the market rally. U.S. President Donald Trump’s expected nomination of a new Federal Reserve Governor—likely to be a proponent of interest rate cuts—has bolstered expectations for a more accommodative monetary policy. Historically, Bitcoin and other cryptocurrencies have performed well during periods of rate cuts, as seen in 2024 [1]. The new appointee could eventually serve as Federal Reserve Chair after Jerome Powell’s term ends in 2026, aligning with broader market expectations for financial system easing [1].

Technically, Bitcoin’s price rebound from a key support level at $112,000—previously its all-time high in May—has generated a continuation signal. Analysts noted this could lead to a recovery toward $123,192 and beyond, potentially lifting other altcoins as well [1]. However, there are concerns that the rally could be a "dead-cat bounce" or "bull trap," where a temporary rebound precedes a deeper decline [1].

Beyond Bitcoin, several altcoins and presale projects have attracted attention. Remittix (RTX), a blockchain-based cross-border payment platform, has surged over 484% since the start of its presale, raising $17.9 million and offering a $250,000 giveaway to boost community engagement [5]. RTX is increasingly being viewed as a strong alternative to high-profile projects like Solana, which has faced challenges in breaking above the $185 resistance level [5]. Technical analysis suggests Solana could retrace to as low as $125 if it fails to maintain support above $180 [5].

The broader market is shifting toward utility-driven tokens and real-world applications. Projects like MoonBull (MOBU), Moo Deng (MOODENG), and Fartcoin (FARTCOIN) are gaining traction not only for their speculative appeal but also for their unique value propositions [6]. This trend reflects a maturing market where investors are prioritizing tangible use cases over speculative hype.

Eclipse (ES) is another token drawing attention, with price predictions and positive sentiment influencing investor decisions [7]. Cold Wallet (CWT) has also gained momentum, outperforming struggling tokens like SUI and LINK due to its growing user rewards and clear utility [8].

Presale projects with strong community engagement and clear use cases are also attracting interest. Punisher Coin and Token6900 are among the emerging names that analysts suggest could see substantial growth in the coming months [5].

As the market continues to evolve, the interplay between macroeconomic developments and on-chain activity will remain a key factor in shaping price movements. While Bitcoin remains the benchmark asset for the crypto industry, altcoins are increasingly influencing market sentiment and attracting new investors. The next phase of the crypto cycle may depend on how well these projects can scale and deliver on their promises [5].

Sources:

[1] https://crypto.news/crypto-market-rally-why-are-bitcoin-and-altcoins-going-up-today-08-4/

[5] https://coincentral.com/solana-price-prediction-sol-struggling-to-break-higher-unlike-this-trending-altcoin-causing-major-fomo/

[6] https://financefeeds.com/the-next-bull-run-is-loading-4-best-cryptos-to-watch-in-2025-for-a-future-proof-portfolio/

[7] https://www.marketbeat.com/cryptocurrencies/eclipse/

[8] https://thecoinrise.com/sui-struggles-at-4-20-and-link-at-17-20-yet-cold-wallet-takes-the-lead-with-270m-plus-wallet-deal/