What’s Driving Today's Crypto Market Surge?

What’s Driving Today's Crypto Market Surge? – November 26, 2025

The cryptocurrency market continues to rise for the third consecutive day, with a slight 0.6% increase in market capitalization, now standing at $3.1 trillion. A majority of the top coins have recorded gains, with Bitcoin's modest rise being noted. As investors await potential US Federal Reserve rate cuts and new economic data, the crypto landscape appears cautiously optimistic.

Key Takeaways

The crypto market's total capitalization is $3.1 trillion, with only a slight increase.
80 out of the top 100 coins have experienced price gains in the last 24 hours.
Bitcoin (BTC) remains steady, trading at $87,788, while Ethereum (ETH) is trading at $2,938.
Market expectations reflect a potential rate cut from the US Federal Reserve, impacting sentiment.
Investors are cautious as December approaches, traditionally a slow month for crypto activity.

Why Is Crypto Up Today

Current Market Overview

Today, the cryptocurrency market has shown positive momentum for the third day, with its total market capitalization rising to $3.1 trillion, a modest 0.6% increase. Notably, 80 out of the top 100 cryptocurrencies have gained value over the past 24 hours, with total trading volume reaching approximately $149 billion.

Performance of Major Cryptocurrencies

Crypto Winners & Losers

Among the top 10 cryptocurrencies ranked by market capitalization, 9 have seen their prices rise in the last 24 hours:

Bitcoin (BTC) has increased by 0.2%, trading at $87,788. This is the lowest gain among major coins today.
Ethereum (ETH) has risen by 1.1%, priced at $2,938.
Solana (SOL) is leading with a 2.1% increase, now at $139.
Dogecoin (DOGE) also recorded a 1.4% gain, priced at $0.1521.
XRP is the sole coin in the top ten to see a decline, dropping by 1% to $2.2.

From the full list of the top 100 cryptocurrencies, Ethena (ENA) stood out with a substantial double-digit gain of 14.7%, now trading at $0.2983. Bittensor (TAO) followed with a 9.5% rise to $320. On the downside, Provenance Blockchain (HASH) decreased by 5.2% to $0.02418, and Figure Heloc (FIGR_HELOC) dropped 2.8% to $1.01.

The market's modest upward trend may be influenced by investor expectations of a US Federal Reserve interest rate cut scheduled for December, alongside recent data suggesting a slowing economy rather than a hard landing.

Future Market Insights

Market Outlook for December

Robin Singh, CEO of Koinly, noted that Bitcoin has struggled to break past the $90,000 mark longer than many anticipated. He believes that as the market approaches its seasonal "Christmas hibernation," the chances of significant price action before the New Year diminish.

However, Singh remains optimistic, suggesting that a surprising recovery above $90,000 in December could significantly lift market sentiment and alleviate concerns of an early "crypto winter" in 2026.

With December nearing, it is likely that trading activity may slow. Historical data from CoinGlass indicates that Bitcoin typically sees an average return of under 5% in December since 2013. Nevertheless, the unusual performance in November, a traditionally strong month for Bitcoin, fuels speculation about potential surprises this December.

Focus on Bitcoin and Ethereum

Many Bitcoin investors anticipated the $100,000 level would serve as a strong support point this year. However, as Singh pointed out, this anticipated bounce has yet to materialize. As the focus turns toward the Federal Reserve's decision regarding rate cuts and Bitcoin ETF flows, more clarity on the early 2026 market landscape is expected.

Turning to Ethereum, the coin is trading just below the $3,000 mark, with a critical psychological gap of $100 between $2,900 and $3,000. According to Singh, ETH's sentiment can shift quickly if the price starts with a '3.'

For now, all eyes are on Bitcoin. Singh emphasizes that as long as BTC remains the dominant force, it will influence the wider market, including Ethereum.

Monitoring Key Levels and Events

As of writing on Wednesday morning, Bitcoin is priced at $87,788. The past 24 hours have seen considerable price fluctuations, with a low of $86,215 and a high of $88,097. Over the last week, Bitcoin has ranged from $82,175 to $92,570, experiencing a 3.4% decrease over the week and a 30.3% drop from its all-time high of $126,080.

Investors are currently watching to see if Bitcoin can break the $88,000 threshold and maintain it, which could lead to gains towards $90,500 and $93,000. Conversely, a downturn could see prices falling below $85,000 and down to $82,000.

Ethereum, trading at $2,938, has also experienced choppy trading conditions but displayed a clearer path between the intraday low of $2,862 and the high of $2,973. Over the past week, ETH has dropped 4.7% primarily between values of $2,680 and $3,095. Overall, it is down 30.1% this month and 40.5% from its all-time high of $4,946.

Holding around the $2,980 level could enable Ethereum to push towards $3,000, with potential further gains to $3,150. Should the market decline, Ethereum might retreat to $2,800 and $2,730 levels.

In the meantime, market sentiment remains in a state of extreme caution, with the crypto fear and greed index at 15 for the second consecutive day, indicating that investors are anxiously awaiting further signals to determine the market's direction in the near to mid-term.

Recent ETF Activity

On November 25, Bitcoin spot ETFs reported $128.64 million in inflows, raising the total net inflow to $57.61 billion. Of the 12 active Bitcoin ETFs, two received inflows, with Fidelity leading at $170.8 million, followed by Grayscale at $83.01 million. In contrast, Ark & 21Shares had outflows of $75.92 million.

Meanwhile, Ethereum ETFs recorded a third consecutive day of inflows, amounting to $78.58 million on Tuesday, bringing their total to $12.81 billion. Of the nine funds, three saw inflows, with Fidelity again at the forefront, collecting $47.54 million, followed closely by BlackRock’s inflow of $46.09 million.

Noteworthy Investment by Texas

Texas has purchased $5 million worth of BlackRock's spot Bitcoin ETF, with plans for a second purchase of the same amount to be held in state custody. This transaction was revealed by Lee Bratcher, president of the Texas Blockchain Council, who mentioned that Texas has allocated a total of $10 million for this purpose.

Conclusion

The crypto market has experienced an uptick over the past day, with the stock market closing higher on November 25 for the second time that week. The S&P 500 climbed by 0.91%, while the Nasdaq-100 and Dow Jones Industrial Average saw increases of 0.58% and 1.43%, respectively. While today's gains are less dramatic than those witnessed in previous days, favorable economic data may help maintain a positive market trend, although there is caution due to the possibility of existing data losing its impact without further reinforcement.