Why Is Crypto Up Today? – November 24, 2025

What Happened

In an email commentary, John Glover, Chief Investment Officer of Ledn, said that “panic selling is usually a sign of weak longs finally capitulating and trying to preserve what small profits they may still have in their position.”

Glover expects that the ultimate bottom will form over the coming 5-7 months. However, “it will be the launch pad for Wave V up to $150-170k in 2027/28,” he argues.

“As uncertainty around interest rates, inflation dynamics, and liquidity conditions increases, a growing share of investors is choosing to lock in profits and move to the sidelines,” Lienkha says.

Market Context

The crypto market is up today, with the cryptocurrency market capitalisation rising by 1.4%, and back above $3 trillion, now standing at $3.06 trillion. 99 of the top 100 coins have gone down over the past 24 hours. At the same time, the total crypto trading volume is at $144 billion.

At the time of writing, all top 10 coins per market capitalization have seen their prices appreciate over the past 24 hours.

Bitcoin (BTC) has risen by 1.3% since this time yesterday, currently trading at $86,899.

This includes Solana (SOL), which is now trading at $130.1.

The biggest gainer in this category is Dogecoin (DOGE)’s 2%, rising to the price of $0.1459.

When it comes to the top 100 coins, 80 recorded increases, with one of these seeing a double-digit rise. Canton (CC) is up by 13.1%, now trading at $0.08507.

The second-highest gainer is Hedera (HBAR), with a rise of 8.3% to the price of $0.1465.

Meanwhile, head of research at NYDIG Greg Cipolaro argued that the reflexive loop that powered BTC’s run, ETF inflows, digital asset treasury (DAT) demand, and growing stablecoin liquidity, has now reversed.

This, he said, doesn’t signal only sour sentiment, but also an “actual capital flight.”

Moreover, Ruslan Lienkha, chief of markets at YouHodler, said that macro-driven factors have been the primary source of market pressure recently.

Broadly across asset classes, risk sentiment has weakened. Equity markets in the US have “already been under notable strain, with headline indices masking the underlying softness in the broader market. Most of the upward momentum in major indices has been concentrated in a very narrow group of AI-related mega-cap stocks. At the same time, the majority of equities have shown signs of fatigue.”

Moreover, BTC price action is still heavily influenced by broader macro conditions, especially the US equity market. If indices stabilize and move higher, “it would likely support Bitcoin and help prevent the current consolidation from turning into something more severe.”

Why It Matters

Therefore, this dynamic suggests that “we may be approaching the late stages of the current growth cycle.”

However, if US stock indices see a sustained trend reversal rather than a routine correction, BTC “could face significantly stronger downside pressure,” and “the current consolidation could evolve into a more profound structural decline, with BTC potentially retracing to much lower levels,” Lienkha concludes.

Details

Crypto Winners & Losers

Ethereum (ETH) is up by 1%, now changing hands at $2,822. This is the lowest increase in the category, shared by two other coins.

It’s followed by Binance Coin (BNB), which appreciated by 1.3% to $853.

On the other hand, the highest drop is Aster (ASTER)’s 6.3% to $1.12.

It’s followed by Zcash (ZEC), which is down 4.4%, changing hands at $546.8.

‘Late Stages of Current Growth Cycle’

Notably, “it is also often a good place to begin accumulating, depending on where we are in the cycle.”