Why Is Crypto Up Today? – December 4, 2025

What Happened

Crypto Winners & Losers

Ethereum (ETH) is up by 4.6%, now changing hands at $3,194. This is the highest increase among the ten.

It’s followed by Binance Coin (BNB)’s 1.4% to $910.

Market Context

The crypto market is up today, seeing a much smaller increase than yesterday, with the cryptocurrency market capitalisation rising by 0.7%, now standing at $3.26 trillion. 75 of the top 100 coins have gone up over the past 24 hours. At the same time, the total crypto trading volume is at $162 billion.

At the time of writing, all top 10 coins per market capitalization have seen their prices rise over the past 24 hours. Two recorded double-digit increases.

Bitcoin (BTC) appreciated by 0.4% since this time yesterday, currently trading at $93,351. This is the second-smallest increase in the category.

In the top 100 coins, 75 appreciated over the past day. Bittensor (TAO) appreciated 8.3% to the price of $310.

On the other hand, Provenance Blockchain (HASH) fell the most in the category: 10.8% to the price of $0.02193.

Meanwhile, Bitfinex argued that the market is showing “seller exhaustion” after a period of heavy deleveraging and panic-driven exits by short-term holders.

“The combination of extreme deleveraging, capitulation among short-term holders, and early signs of seller exhaustion has created the conditions for a stabilisation phase and a relief bounce,” it said.

Bitunix analysts commented that the market is entering a composite phase of “macroeconomic turning-point expectations plus internal capital rotation within crypto.” This is against the backdrop of weakening employment and rising rate-cut expectations.

“In the short term, the market remains in a structurally volatile, range-bound regime,” the analysts say. “Going forward, close attention should be paid to whether rate expectations are revised further downward and whether capital continues to rotate from Bitcoin into higher-beta assets, as these factors will determine the risk level and trend slope of the next phase of the market.”

Meanwhile, Alexis Sirkia, Chairman of Yellow Network, argues that “the market’s current late-cycle fragility is not a pricing problem, but an architectural one.”

The trustlessness that drove initial innovation in Web3 is now lost amidst systems that burden themselves with on-chain settlement of every micro-transaction, the Chairman says. “This is why the entire asset class still remains tethered to the movements in Big Tech and equity markets.”

Why It Matters

Also, ETF flows and liquidation structures suggest a divergence in risk appetite, not a synchronized expansion.

Details

The smallest increase is 0.1% by Tron (TRX), currently standing at $0.2803.

At the same time, two coins have gone red since yesterday. XRP is down 0.7% to $2.17, while Dogecoin (DOGE) fell 0.1% to $0.15.

Zcash (ZEC) follows with an 8% decrease to $363.

Hedera (HBAR) is next, having dropped 3.4% to $0.1424.

‘Staying In Structurally Volatile, Range-Bound Regime’

Moreover, real decoupling of crypto from TradFi will be driven by increased operational efficiency and by ETF inflows, be it for BTC or the emerging XRP products.

“We are witnessing the final phases of the Layer 1 and Layer 2 scaling debate,” Sirkia says. “The future requires a high-performance Layer 3, that operates off-chain, delivering the millions of transactions per second required for real-world utility.”

Additionally, the next step for DeFi is a new utility layer, not a new asset class. “The projects and tokens that transition to high-throughput, low-friction architecture will revive the industry, and propel it to greater heights.”

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