Bitcoin Gains As CPI Comes In Cooler Than Expected; Ethereum, Dogecoin, XRP Also Surge: Analyst Sees ETH Reaching $6,000 Leading cryptocurrencies rallied on Tuesday as lower-than-expected consumer inflation raised expectations of interest rate cuts. Cryptocurrency Gains +/- Price (Recorded at 9:15 p.m. ET) Bitcoin BTC/USD +0.47% $119,575.71 Ethereum ETH/USD +6.95% $4,577.98 XRPL DOGE/USD +2.24% $3.22 Solana XRP/USD +9.62% $192.26 Dogecoin SOL/USD +4.19% $0.2341

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500. ETH’s Market Dominance At A 9-Month High Bitcoin consolidated in the range between $119,000 and $120,000, while trading activity declined substantially. Ethereum , meanwhile, soared above $4,600, extending a winning streak that has sent the second-largest cryptocurrency close to all-time highs. The coin recorded an 18% jump in trading volume. ETH's market dominance reached 13.7%, its highest in nine months. Bitcoin's market share, on the other hand, dropped further to 58.8%. Solana also popped more than 9% in the last 24 hours, while XRP gained 2.24%.

Over $480 million was liquidated from the cryptocurrency market in the last 24 hours, with $344 million in bearish shorts wiped out. Bitcoin's open interest fell 0.14% in the last 24 hours, while ETH recorded a 9.19% spike. Interestingly, about 54% of Binance futures traders with open ETH positions were betting on the asset's decline, according to the Long/Short ratio. The "Greed" sentiment rose in the last 24 hours, according to the Crypto Fear & Greed Index, suggesting increased buying pressure.

Top Gainers (24 Hours) Cryptocurrency Gains +/- Price (Recorded at 9:15 p.m. ET) Fartcoin (FARTOIN) +21.22% $1.08 Pump.fun (PUMP) +11.71% $0.003916 JasmyCoin (JASMY) +11.50% $0.01846 The global cryptocurrency market capitalization sailed past $4 trillion, following a 2.95% spike in the last 24 hours. Market Sees Higher Chance Of A Rate Cut Stocks lifted to record highs on Tuesday. The Dow Jones Industrial Average climbed 483.52 points, or 1.10%, to close at 44,458.61. The S&P 500 jumped 1.13% to notch a record close at 6,445.76, while the tech-focused Nasdaq Composite spiked 1.39% to hit a new closing high at 21,681.90. The rally came after July's consumer price index came in lower-than-expected , helping calm investors' fears that President Donald Trump's tariff policies would drive up inflation. Meanwhile, the probability of a September rate cut increased to 94.3% from 85.9% according to the CME FedWatch tool. ETH On Track For $6,000? Arthur Azizov, founder and investor at B2 Ventures , said in a note to Benzinga that Ethereum's outlook remained positive with a clear "bullish bias." "I believe that either this year or next, we could see ETH reach $6,000," Azizov predicted. "For now, the key is to hold the $3,350 level." The bullish bias was echoed by widely followed cryptocurrency analyst and trader Ali Martinez , who predicted ETH’s rise to $5,241 now that it has overcome the $4,300 barrier. Photo Courtesy: Shutterstock AI on Shutterstock.com Read Next: Circle Stock Falls After 10 Million Share Offering Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock – anytime. © 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.