Bitcoin Tops $122K: How Will Ether, XRP, and Dogecoin Respond?

Bitcoin Hits Record $122,000, Fuels Altcoin Rally as U.S. “Crypto Week” Sparks Optimism

Bitcoin surged to a fresh all-time high of $122,000 on Monday, igniting widespread gains across the crypto market. The rally comes amid strong ETF inflows, a wave of short liquidations, and growing optimism over crypto policy developments unfolding in Washington.

“We could see Bitcoin test $130K–$150K by year-end if macro winds cooperate,” one trading desk noted, reflecting the increasingly bullish sentiment.

Ethereum (ETH) reclaimed the $3,000 mark, powered by $383 million in ETF inflows last Friday. Other major tokens surged alongside Bitcoin’s climb:

• XRP (XRP) hovered near $2.95, marking a 30% gain over the past week.
• Solana’s SOL bounced back to around $167.
• Dogecoin (DOGE) spiked more than 20%, driven by renewed retail enthusiasm and memecoin buzz.

The moves mirror trends from previous crypto cycles, where Bitcoin’s rallies often unlock liquidity and spark broader market gains. Traders believe that if macroeconomic conditions stay stable and Bitcoin consolidates above $120,000, large-cap altcoins could continue to see significant upside in the weeks ahead.

All eyes this week are on Washington, where lawmakers have launched “Crypto Week”—a series of hearings aimed at advancing policies to make the U.S. the “crypto capital of the world.” Many traders expect potential legislative tailwinds to further boost the market.

“Crypto prices surged amid a major melt-up, with BTC pushing into the high $118K zone and triggering over $1 billion in short liquidations,” said Augustine Fan, Head of Insights at SignalPlus, in a Telegram message.

Fan added, “Market sentiment should remain heated into the summer unless we see a total breakdown in tariff negotiations. The ball is in the President’s court regarding how forcefully he wants to proceed.”

Strong on-chain support near $109,000, coupled with capital shifting from equities into crypto, has added confidence for the bulls. Eugene Cheung, CCO at OSL, commented, “The trend remains bullish. We could see Bitcoin test $130K–$150K by year-end if macro winds cooperate.”

Meanwhile, traditional financial markets faltered early Monday. U.S. and European equity futures declined after former President Trump announced a 30% tariff on imports from the European Union and Mexico, escalating trade tensions that have already unsettled markets in Brazil, Algeria, and Canada.

• S&P 500 futures slipped 0.4%.
• Europe’s Stoxx 600 futures dropped 0.6% during Asian trading.
• Silver prices climbed to levels not seen since 2011, suggesting growing investor interest in hard assets amid global uncertainty.