Why Is Crypto Up Today? – November 25, 2025

What Happened

Crypto Winners & Losers

Ethereum (ETH) is up by 2.7%, now changing hands at $2,916.

At the same time, the only drop is Tron (TRX)’s 1.5% to $2,916.

Market Context

The crypto market is up today, for a second day in a row, with the cryptocurrency market capitalisation rising by 1.5%, now standing at $3.1 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, 9 of the top 10 coins per market capitalization have seen their prices appreciate over the past 24 hours.

Bitcoin (BTC) has risen by 0.7% since this time yesterday, currently trading at $87,692.

XRP recorded the highest increase in this category: it’s up 7.9% to the price of $2.23.

It’s followed by 4.5% by Solana (SOL), which is now trading at $136.

Looking at the top 100 coins, we find that 85 recorded increases, with one of these seeing a triple-digit rise. Rain (RAIN) is up 113% to the price of $0.007829.

Markets have generally seen an increase, prompted by US stock gains and increasing confidence that the US Federal Reserve may cut rates in December.

Moreover, Asia is seeing an IPO boom, led by Bitkub’s Hong Kong listing plans. This could be beneficial for the market overall.

Bitfinex analysts commented that the scale of loss realisation “reflects how top-heavy the market had become.”

The supply accumulated between $106,000 and $118,000 was far denser than in prior cycle peaks. This, per the analysts, produced “a deeper layer of holders now capitulating at a loss.”

“Such a structure implies that one of two outcomes must follow: either a meaningful resurgence in demand emerges to absorb the ongoing distribution, or the market will be forced into a longer and potentially deeper accumulation phase before a sustainable equilibrium can be restored.”

Moreover, Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, noted that “as we head into the [US] Thanksgiving holiday, markets are on a knife’s edge as December rate cut expectations yo-yo dramatically, in a way we rarely see. In just a few days, we’ve gone from just around 30% of market participants expecting a cut on December 10th, to over 80% betting on this outcome today.”

“This, naturally, moves markets and explains Bitcoin’s recent recovery from a low of around $81,000 to its current level above $87,000. We could see further upside in the short-term if the market remains positive, especially considering the long/short ratio is currently overbalanced in favor of the shorts, which typically signals a reversal in favor of the longs.”

Puckrin concludes: “What is more certain, though, is that the Fed holds the key to the market’s end-of-year finale – and its next rate decision will determine whether we get a Santa rally or a Santa dump. As we get closer to December 10th, I expect market jitters to continue, and the Fed’s press conference will certainly have traders on the edge of their seats.”

Why It Matters

Fed Governor Christopher Waller noted that there is flood of data incoming, previously delayed by the government shutdown. This makes a December cut appropriate, while “January could be a little trickier,” he said.

However, he adds, “any optimism we’re seeing in risk assets is tenuous at best. Rate cut expectations have shifted based on remarks from senior Fed officials, but we haven’t seen any economic data to support this. And what’s clear is that the FOMC finds itself at one of the most divided times in its history. As such, no outcome can be certain until the big day itself.”

Details

It’s followed by Kaspa (KAS) with the only double-digit rise: 24.1% to $0.05082.

On the other hand, the highest drop is MemeCore (M)’s 6.5% to $1.85.

It’s followed by Zcash (ZEC), which is down 6%, changing hands at $510.

‘Two Possible Outcomes’

Levels & Events to Watch Next