The global cryptocurrency market showed a strong correction in August 2025. Bitcoin (BTC) finally broke the $63,000 resistance after several weeks of sideways trading. This breakout pushed the broader market higher.
Ethereum (ETH) came close behind. The price moved above $3,000 as investors focused on the upcoming Ethereum Pectra upgrade. The upgrade aims to improve scalability and effort efficiency.
Altcoins also joined the rally. Solana (SOL) and Avalanche (AVX) posted double-digit gains. Memecoins also attracted attention. Dogecoin (DOGE) and Shiba Inu (SHIB) recorded high trading volumes. This activity signals the returns to retail investors.
This week brought a major institutional update. BlackRock presented an updated spot Bitcoin ETF application. The move suggests strong institutional demand in Q4 2025. Analysts believe that if Bitcoin remains above $62,000, it could start another bullish wave. The price target is between $68,000 and $70,000.
This period is important for investors. The market sentiment has shifted towards optimism. However, traders should be cautious. Global macroeconomic conditions can still cause sudden volatility. Stablecoins, especially USDT and USDC, continue to dominate trading pairs and support market liquidity.