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Bitcoin price rebounded to $87,000 after a volatile week, supported by positive Federal Reserve comments.
Major altcoins including Ethereum, Solana, and XRP traded in green, boosting investor optimism.
Market conditions remain fragile, with ETF outflows and sector volatility still influencing sentiment.
Crypto prices today showed a mild recovery after a turbulent week, with Bitcoin bouncing back above the $87,000 mark. The recovery came after positive signals from Federal Reserve officials. Vice Chair Williams hinted at a possible rate cut, while Vice Chair Jefferson shared optimism about the AI-driven economic outlook. These comments helped lift market sentiment across digital assets. Here’s what happened in crypto market today based on CoinMarketCap data.
Bitcoin briefly dropped toward $80,000 earlier this week before climbing back, giving some relief to nervous investors. The leading cryptocurrency is trading at $87,455.08, up 1.49% in the last 24 hours, with its market cap sitting at $1.74 trillion.
According to CoinSwitch Markets Desk, “Bitcoin tested $82,000 on Friday after nearly $2 billion in long positions were liquidated. The catalyst behind this was mainly mixed US jobs report, looming macro uncertainty around a potential December rate cut and an intraday reversal in US equities. After the flush-out, BTC rebounded to $85,000 as buyers stepped in, later stabilizing within the $85,000-$87,000 range and briefly approaching $88,000.”
The CoinSwitch analysts further explained, “Institutional activity improved, with BTC ETFs seeing $238 million in inflows and ETH ETFs ending an eight-day outflow streak. For now, BTC is likely to remain range-bound until a macro or Fed catalyst shifts sentiment. BTC holds support near $86,000 and faces resistance around $88,000, with upside toward $88,500-$89,000 if momentum strengthens.”
Ethereum price gained 1.55% to reach $2,864.52, with its market cap at $345.7 billion. The second-largest cryptocurrency saw decent trading volume of $22.17 billion in the past day.
Solana price jumped 2.14% to $133.17, showing strength among Layer 1 tokens. SOL's market cap stands at $74.46 billion with a strong 24-hour volume of $4.15 billion, reflecting solid investor interest.
XRP price surged 2.39% to $2.09, making it one of the day's top gainers among major cryptocurrencies. XRP's market cap reached $126.2 billion, with Ripple's token showing continued momentum.
BNB gained 0.96% to $854.05, while TRON (TRX) rose 0.85% to $0.2772. Dogecoin (DOGE) led meme coin gains with a 3.41% jump to $0.1481. Cardano (ADA) rounded out the top ten with a 1.99% increase to $0.4190.
Among stablecoins, Tether (USDT) traded at $0.9996 with minimal movement, maintaining its $184.3 billion market cap. USD Coin (USDC) held steady at $0.9997 with a $74.08 billion market cap.
Also Read: Bitcoin News Today: Is Binance Facing a Deeper Bitcoin Deleveraging Wave?
Despite the recovery in crypto prices today, analysts warn that market conditions remain fragile. Researchers at 10x Research point out that volatility, funding rates, and positioning metrics are showing signals typically seen near major turning points. Derivatives markets reveal traders are aggressively pricing in risk as panic sellers battle with opportunistic buyers looking for bargains.
Sector performance was mixed across the board. PayFi led the rebound with a 2.44% gain, boosted by TEL and XLM climbing over 5%. Real World Assets (RWA), DeFi, Meme coins, and Layer 1 sectors posted modest gains. However, CeFi and Layer 2 tokens saw slight declines.
Here are the top headlines impacting crypto prices today:
Solana-based meme coin platform Pump.fun has pulled out $436.5 million in USDC since mid-October, according to blockchain data. The team moved $405 million USDC into Kraken exchange in just the past week. They also transferred $466 million USDC from Kraken to Circle during the same period. The token itself dropped 24% over the past seven days following these massive withdrawals.
Bitcoin spot ETFs logged $1.22 billion in net outflows from November 17-21, marking their fourth straight week of withdrawals. Ethereum spot ETFs posted $500 million in outflows, extending a three-week losing streak.
However, Solana bucked the trend with $128 million in net inflows for the week, recording its fourth consecutive week of gains and showing growing institutional interest in the network.
Bitwise CEO Hunter Horsley shared his view that most decentralized autonomous trusts (DATs) will likely mature into full operating companies. He expects these DATs to acquire and integrate many smaller privately held crypto firms as they grow. Horsley noted that the DAT ecosystem is still in its early stages of development.
Also Read: Crypto News Today: XRP Whales Dump $400M, Metaplanet Raises $135M for Bitcoin, Ark Invest Buys $39M in Crypto Stocks
Crypto prices today show a cautious optimism among investors, although crypto traders should remain vigilant. The upward shift across critical sector indices indicates greater optimistic sentiment and risk appetite, though we continue to see heightened volatility levels. Additionally, while there are signals of rate cuts from the Federal Reserve that support the market, the flow from institutions into crypto assets is mixed. The following weeks will prove important to establish whether or not the recovery process continues or another downward low lay ahead.
1. What caused the crypto market to recover today?
The major reason for the recovery of the crypto market today can be attributed to some positive statements from a couple of Federal Reserve officials on what could possibly be rate cuts and positive sentiment around an improving economy. Those comments helped to shift the sentiment among investors, enabling them to feel more comfortable buying back into the market after a turbulent week.
2. What is driving Bitcoin over $87,000?
The surge of Bitcoin to over $87,000 is likely related to increased confidence in macroeconomic signals, broader market sentiment, and buyers capitalizing on lower prices following moves toward $80,000. Investors appear to see the possibility of rate cuts as a very positive signal for risk investments like cryptocurrencies.
3. How have major altcoins performed today?
There were good price gains among altcoins as well, with Ethereum, Solana and XRP leading. The increased price gains among altcoins reflect far better trading volume, renewed interest among institutional and retail buyers, and an overall sentiment in the crypto space catching up with the improved sentiment in Bitcoin.
4. Why are crypto ETFs seeing outflows?
Crypto ETFs are seeing outflows due to some short-term caution among institutional investors. Specifically, market volatility, macroeconomic uncertainty, and potential profit-taking following previous rallies all seem to contribute to ongoing withdrawals from Bitcoin and Ethereum ETFs.
5. Are traders expecting more volatility in the coming days?
Yes. Analysts urge caution since the derivatives data suggest a more opted risk positioning across the derivatives market. While the signals for recovery look optimistic, additional variables, such as sustained outflows from ETFs, issues heading into the sector, and changing macroeconomic fundamentals, could create further volatility movements in the performance of the underlying business as it yields from a bear market.
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