Why Is Crypto Up Today? – November 24, 2025
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.
- The crypto market capitalisation rose on Monday morning (UTC) back above $3 trillion;
- 80 of the top 100 coins and all top 10 coins have gone up today;
- BTC increased by 1.3% to $86,899, and ETH rose by 1% to $2,822;
- The ultimate bottom may form over the next 5-7 months;
- NYDIG’s Greg Cipolaro noted a reversal in key trends;
- ‘We may be approaching the late stages of the current growth cycle;’
- US indices stabilising ‘would likely support Bitcoin and help prevent the current consolidation from turning into something more severe’;
- ‘A growing share of investors is choosing to lock in profits and move to the sidelines’;
- US BTC and ETH spot ETFs saw inflows on Friday of $238.47 million and $55.71 million, respectively;
- BlackRock’s Robbie Mitchnick said large asset managers’ clients are interested in BTC as a store of value, not a payments rail;
- Crypto market sentiment reached another lowest point in years.
Crypto Winners & Losers
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.
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.
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.
It’s followed by Binance Coin (BNB), which appreciated by 1.3% to $853.
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.
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.
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.”
‘Late Stages of Current Growth Cycle’
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.”
Notably, “it is also often a good place to begin accumulating, depending on where we are in the cycle.”
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.
Source: Ledn
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.”
Therefore, this dynamic suggests that “we may be approaching the late stages of the current growth cycle.”
“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.
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.”
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.
Levels & Events to Watch Next
At the time of writing on Monday morning, BTC stood at $86,899. The coin has seen quite a choppy trading day, moving in a tight range between $85,822 and $87,995.
Moreover, BTC’s intraweek low stands at $82,175, while the intraday high is at $95,591. Overall, it’s down 9.2% in a week, as well as 22% in a month and 31.1% since the all-time high of $126,080 seen in October.
Investors are now looking to see if the coin will stay above $86,500. This could open doors for $88,500, followed by $97,000 and even $111,000. If it drops below that level, it could move towards $83,000.
Bitcoin Price Chart. Source: TradingView
Ethereum is currently changing hands at $2,822. It initially plunged from $2,838 to the intraday low of $2,770, and then it jumped to $2,881 before correcting to the current price.
ETH is down 11.6% in a week, moving between $2,680 and $3,203. It also fell 28% in a month and 42.8% from the August ATH of $4,946.
Should it defend the $2,780 level, the price could target $3,060, followed by $3,214 and $3,653. Conversely, a fall below $2,700 could lead to further decreases to the $2,630 and $2,580 levels.
Meanwhile, the crypto market sentiment keeps falling within the extreme fear zone, reaching on Saturday another lowest level since CoinMarketCap began measuring this index in July 2023.
The crypto fear and greed index stands at 10 today, for the third day in a row, falling from Friday’s 11.
The participants remain worried and pessimistic amidst the doubt-driven market. The selling pressure is high, but so are the purchase opportunities for the long-term holders.
Source: CoinMarketCap
ETFs Turn Green
On Friday, the US BTC spot exchange-traded funds (ETFs) recorded inflows, following a day of major outflows on Thursday. On 21 November, these took in $238.47 million combined. Therefore, the total net inflow rose slightly to $57.64 billion.
Seven of the 12 BTC ETFs recorded inflows, while one saw outflows. Fidelity was at the top of the green list, with $108.02 million in positive flows. It’s flowed by Grayscale’s $84.93 million. At the same time, BlackRock let go of $122.01 million.
Source: SoSoValue
Moreover, the US ETH ETFs broke their 10-day outflow streak with $55.71 million in inflows on 21 November. The total net inflow increased to $12.63 billion.
Three of the nine funds recorded inflows, and one again saw outflows. Fidelity leads with $95.4 million in positive flows, while BlackRock was responsible for the entirety of negative flows with $53.68 million.
Source: SoSoValue
Meanwhile, Robbie Mitchnick, BlackRock’s head of digital assets, argued that clients of large asset managers are far more interested in BTC as a store of value than as a payments rail.
“For us, and most of our clients today, they’re not really underwriting to that global payment network case,” he said. The payments thesis is viewed as “out-of-the-money option value” rather than a core investment rationale.
Quick FAQ
- Why did crypto move against stocks today?
The stock market closed higher on Friday, its previous day of trading. By the closing time on 21 November, the S&P 500 was up by 0.98%, the Nasdaq-100 increased by 0.77%, and the Dow Jones Industrial Average rose by 1.08%. At the same time, on Friday (UTC), the crypto market was significantly lower compared to the day prior. Major stock indexes nonetheless posted weekly losses on apprehensions related to AI spending and tech firms’ valuations.
- Is this rally sustainable?
The crypto market has seen a green reversal today. However, it remains red across other key timeframes. Further positive signals are needed to either prolong this reversal and turn it into a longer bullish move. Otherwise, the situation overall may remain bearish. “Overall, the short-term outlook depends primarily on whether the equity market confirms a continuation of the broader bullish trend or transitions into a more prolonged downturn,” says YouHodler’s Ruslan Lienkha.
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