Bitcoin and XRP sink, but Wall Street is keeping crypto hot originally appeared on TheStreet .

The crypto market experienced increased volatility this past week, as Bitcoin reached a new all-time high before losing ground, while regulation updates and new exchange IPOs kept investor sentiment stable.

As per Kraken , Bitcoin soared to $122,900 on August 13, briefly eclipsing its July high, but this surge was short-lived. Profit-taking and market caution dragged the world's largest cryptocurrency down to $114,363 on Tuesday, marking a 4.1% weekly decline.

Other market indicators showed investor caution. However, it is reasonable to believe Bitcoin's dominance is still solid. As of Tuesday, Bitcoin's dominance is just under 59%, continually cementing its leading position in the sector.

Ethereum demonstrated longer-term resilience by trading in the range of $4,200–$4,500, closing around $4,221 , representing a weekly loss of 4.2%.

Related: What are tokenized stocks? Explained

Among the institutions acquiring Ethereum, Tom Lee's BitMine Immersion stands out, holding over 1.5 million Ether – approximately $6.6 billion.

Billionaire investor Peter Thiel has also announced his interest in exposure to Ethereum, indicating the increase in corporate treasury flows.

XRP struggled, dropping 7.3% at $2.96, likely due to lighter trading volumes weighing it down. Of the major altcoins, BNB rose 2.6% to $835, and Solana increased 0.8% to $182.

Crypto futures drop

Open interest in crypto futures dropped 2.5% to $198.9 billion, while total liquidations totaled $337 million in a 24-hour period, led largely by Ethereum. The Fear and Greed Index was 53 (neutral).

On the policy side, however, momentum is building. Treasury Secretary Scott Bessent reversed direction and said the US government may purchase Bitcoin for its Strategic Reserve.

Additionally, crypto exchange Gemini, founded by the Winklevoss twins, made headlines with U.S. IPO filings, following the news of Circle and Bullish's initial skyrocketing debuts.

Bitcoin and XRP sink, but Wall Street is keeping crypto hot first appeared on TheStreet on Aug 19, 2025

This story was originally reported by TheStreet on Aug 19, 2025, where it first appeared.