--- title: "Bitcoin Hits $74,000, Ethereum, XRP, Dogecoin Also Advance After Trump-Hosted Crypto Summit: Analyst Says BTC's 'First Real Test' Will Start Here" type: "News" locale: "en" url: "https://longbridge.com/en/news/296564213.md" description: "Bitcoin reached $74,000 and other major cryptocurrencies rallied following a White House summit hosted by Donald Trump favorable to digital assets. The crypto market cap surged to $2.49 trillion, driven by liquidations of short sellers and renewed investor greed. Conversely, traditional stock markets declined as Treasury yields spiked to near-20-year highs. Analysts suggest Bitcoin is approaching a critical test level, with potential for altcoins to breakout if BTC stalls." datetime: "2026-08-21T01:51:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296564213.md) - [en](https://longbridge.com/en/news/296564213.md) - [zh-HK](https://longbridge.com/zh-HK/news/296564213.md) generator: "portal-rs" --- # Bitcoin Hits $74,000, Ethereum, XRP, Dogecoin Also Advance After Trump-Hosted Crypto Summit: Analyst Says BTC's 'First Real Test' Will Start Here Leading cryptocurrencies extended their winning rally on Thursday as markets digested a White House summit favorable to digital assets. | **Cryptocurrency** | **24-Hour Gains +/-** | **Price (Recorded at 9:15 p.m. EDT)** | | ------------------------------------ | --------------------- | ------------------------------------- | | **Bitcoin** (CRYPTO: BTC) | +6.63% | $73,947.41 | | **Ethereum** (CRYPTO: ETH) | +3.94% | $2,344.68 | | **XRP** (CRYPTO: XRP)             | +14.77% | $1.27 | | **Solana** (CRYPTO: SOL)             | +4.20% | $88.29 | | **Dogecoin** (CRYPTO: DOGE)    | +9.04% | $0.08170 | ## **Crypto Market Climbs Higher** **Bitcoin** touched $74,000 for the first time in almost three months, as renewed momentum kept the top cryptocurrency advancing. Trading volume jumped 18% over the last 24 hours. **Ethereum** topped $2,360, while **XRP** and **Dogecoin** saw strong rallies. Cryptocurrency-related stocks extended their rally, with **Strategy Inc.** (NASDAQ:MSTR) and **Bitmine Immersion Technologies Inc.** (NYSE:BMNR) closing down 7.81% and 6.57%, respectively.  The primary catalyst lifting the sector stems from Wednesday’s high-profile White House cryptocurrency summit hosted by President **Donald Trump**. Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with short sellers taking the majority of the losses, according to Coinglass data. Bitcoin’s open interest spiked 7.25% over the last 24 hours to levels last seen on May 29. On Binance, retail derivatives traders held a net short position in BTC, while whales sharply cut their long exposure. "Greed" sentiment prevailed in the market, according to the Crypto Fear & Greed Index. **Top Gainers (24 Hours)**  **Cryptocurrency (Market Cap>$100 M)** **Gains +/-** **Price (Recorded at 9:30 p.m. EDT)** **Ethena** (ENA)       +28.79%     $0.1197 **Pump.fun** (PUMP)     +23.32%     $0.003786 **Monad** (MON)          +19.34%     $0.02686 The global cryptocurrency market capitalization stood at $2.49 trillion, surging by 5.42% over the last 24 hours. **Read Also: If You Invested $100 in Bitcoin After Crypto Was First Mentioned on TV, Here’s How Much You’d Have Now** ## **Stocks** Sink After Treasury Yields Spike Stocks sold off sharply on Thursday. The **Dow Jones Industrial Average** declined 703.84 points, or 1.32%, to end at 52,759.21. The **S&P 500** shed 0.87% to close at 7,641.16,while the tech-heavy **Nasdaq Composite** fell 1% to settle at 26,067.17. The 10-year Treasury yield rose more than 5 basis points to 4.706%, while the 30-year yield climbed more than 5 basis points to 5.251%, after both yields spiked earlier this week to their highest levels in nearly 20 years. ## Bitcoin’s First Real Test **Michaël van de Poppe**, a widely followed cryptocurrency analyst and trader, noted Bitcoin approaching its “first real test” at $73,500-$75,000 after a sharp breakout. He predicted a short-term BTC stall, adding, “That’s why I think that we’ll stall for a second and that the other assets within the ecosystem will start to have their massive breakouts.” > #Bitcoin is approaching its first real test at $73,500-75,000 after this breakout. > > That's why I think that we'll stall for a second and that the other assets within the ecosystem will start to have their massive breakouts. pic.twitter.com/zADMpTpVbI > > — Michaël van de Poppe (@CryptoMichNL) August 20, 2026 On-chain analytics firm CryptoQuant stated that Bitcoin recorded its largest profit-side movement ever on Binance, right where trapped buyers “finally have a chance to exit.” “A sustained reclaim of the STH \[Short-term holder\] Realized Price, alongside SOPR \[Spent Output Profit Ratio\] holding above 1 and improving spot demand, would suggest buyers are absorbing breakeven supply,” CryptoQuant stated. On the other hand, a rejection would mean that the rebound is turning trapped holders into “exit liquidity.” Spent Output Profit Ratio is an on-chain indicator that measures whether Bitcoin investors are selling at a profit or a loss > Bitcoin Just Printed Its Largest Profit-Side Movement on Record > > "Bitcoin just recorded its largest profit-side UTXO movement ever on Binance, right where trapped buyers finally have a chance to exit." – By @MorenoDV\_ pic.twitter.com/qFgC24pDfQ > > — CryptoQuant.com (@cryptoquant\_com) August 20, 2026 **Read Also: Strive Stock Edges Higher as Bitcoin Climbs** *Photo Courtesy: vinnstock on Shutterstock.com* ### Related Stocks - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [DOJE.US](https://longbridge.com/en/quote/DOJE.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [GXRP.US](https://longbridge.com/en/quote/GXRP.US.md) - [GDOG.US](https://longbridge.com/en/quote/GDOG.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [XRPR.US](https://longbridge.com/en/quote/XRPR.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [TDOG.US](https://longbridge.com/en/quote/TDOG.US.md) - [BWOW.US](https://longbridge.com/en/quote/BWOW.US.md) - [XRP.US](https://longbridge.com/en/quote/XRP.US.md) - [XRPZ.US](https://longbridge.com/en/quote/XRPZ.US.md) - [TXXD.US](https://longbridge.com/en/quote/TXXD.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) - [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [ASST.US](https://longbridge.com/en/quote/ASST.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [STRF.US](https://longbridge.com/en/quote/STRF.US.md) - [STRC.US](https://longbridge.com/en/quote/STRC.US.md) - [STRK.US](https://longbridge.com/en/quote/STRK.US.md) - [STRD.US](https://longbridge.com/en/quote/STRD.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) - [SATA.US](https://longbridge.com/en/quote/SATA.US.md) ## Related News & Research - [Amboss Opens Affiliate Program: Earn Recurring Bitcoin Commissions by Growing Bitcoin Payments](https://longbridge.com/en/news/296124824.md) - [Fundstrat Sees 30% Swing In Bitcoin’s Price](https://longbridge.com/en/news/296239209.md) - [Bitcoin Standard Treasury Company (BSTR) Terminates Business Combination, Team Continues Pursuing Active Bitcoin Treasury Management | CEPO Stock News](https://longbridge.com/en/news/296540800.md) - [Bitcoin lands on the same custody rails Citi uses for equities and bonds](https://longbridge.com/en/news/296272222.md) - [LQWD Technologies CEO to Speak at Bitcoin Asia 2026 in Hong Kong | LQWDF Stock News](https://longbridge.com/en/news/296496835.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**