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Bitcoin price jumped above $90,000, reflecting renewed bullish momentum in crypto prices today.
Ethereum, Solana, BNB, Cardano, and XRP jumped higher as altcoins trade in green zone amid optimistic investor sentiment.
Rising expectations of Federal Reserve rate cuts boosted investors’ risk appetite and helped crypto markets recover sharply.
Crypto prices today surged sharply. Bitcoin climbed back above the $90,000 mark at press time, reviving investor confidence. Top coins like Ethereum, Solana, BNB, Cardano, and XRP traded in green zone. The rally was backed by expectations that the Federal Reserve would cut interest rates soon and broader market optimism. Traders are looking for confirmation at key resistance levels for continued upward momentum. Here’s why crypto market is up today based on CoinMarketCap data.
Bitcoin price surged 4.49% to $91,174.71. The coin retook the psychologically important $90,000 level that traders had their eyes set on. Its market cap stood at $1.81 trillion with a 24-hour trading volume of over $71 billion. The world’s leading cryptocurrency was trading below its 50-day and 200-day moving averages.
According to CoinSwitch Markets Desk, “BTC traded quietly for most of the day, moving sideways around $86,500-$87,500 before a sharp breakout pushed it toward $91,000. The sudden jump was driven mainly by a short-squeeze and helping BTC gain 4.4% in last 24 hours.
The CoinSwitch analysts further added, “Also, in last 2 out of 4 days BTC ETFs have seen inflow, showing that institutional appetite for BTC is gradually picking up again. With that, US jobless claims, released yesterday, came less than expected and on similar lines with PPI released yesterday and overall building a good market structure for possible fed cut. BTC now faces resistance near $92,000 and a breakout above it could open a move toward $93K and above. If price slips below $89,500, BTC may retest the $87,000 support zone.”
Ethereum price was up 3.72% to $3,039.77 with a market capitalization of $366.8 billion. A daily close above the $3,000 to $3,050 range could push the token toward $3,200 to $3,300, according to market watchers.
Altcoins followed suit, trading in green on November 27. Solana price rose 3.42% to $142.85, and Binance Coin (BNB) jumped 4.30% to $895.83. Meanwhile, Cardano (ADA) added 3.25% to $0.4335. XRP was up 1.69%, changing hands at $2.21, with a market capitalization of $133.5 billion. DOGE rallied 2.82% to $0.1545, while TRON gained 0.90% to $0.2767.
USDT and USDC stablecoins were flat and close to their $1 pegs. Crypto trading volumes were lighter than usual amidst the Thanksgiving holiday in the United States. However, the positive momentum was clear.
Also Read: Crypto Prices Today: Bitcoin Price Falls to $87,384, Solana Gains 0.03%, XRP Leads Declines With 2.59% Drop
Why is crypto market up today? The reason largely has to do with growing expectations that the Federal Reserve will cut interest rates next month. Futures markets now show an 85% chance of a 25-basis-point rate cut in December, up from just 30% probability a week ago.
It marks a shift after several comments from Fed officials earlier in the week, including those from San Francisco Fed President Mary Daly and Fed Governor Christopher Waller, indicated the central bank is ready to ease monetary policy. Lower interest rates tend to favor risk assets like cryptocurrencies since the cost of borrowing becomes less expensive while pushing investors toward higher-yielding investments.
Also contributing to the upbeat mood, new claims for unemployment benefits dropped to a seven-month low on November 26, indicating that the US job market remains resilient. Such strength supports the ‘soft landing’ scenario, wherein the economy slows down without falling into recession.
Recent crypto news shows that digital assets are taking a cue from traditional markets, especially the technology sector. On November 26, Wall Street extended its winning streak for the fourth consecutive session when all three major US stock indexes finished in positive territory.
Strong earnings reports lifted the tech rally. Nvidia logged quarterly results that beat expectations and showed continued strong demand for AI chips. Dell Technologies also surpassed revenue forecasts, helping calm worries about stretched valuations in the artificial intelligence sector.
Asian markets opened higher on November 27, as the MSCI Asia Pacific index climbed 0.27%, which broke its three-week losing streak. Japan's Nikkei and South Korea's Kospi both rose over 1% in early trading. The dollar weakened against major currencies as investors shifted into riskier assets ahead of the Fed's final policy meeting of 2025.
CoinMarketCap 20 Index, which measures the top 20 cryptocurrencies, rose 4.23% to $193.91, mirroring broader market performance.
Also Read: Dogecoin News Today: Bitwise Launches DOGE ETF as New Crypto Funds Rise
Crypto prices today reflect a positive trend, as Bitcoin has recently surpassed the $90,000 mark. The primary factors supporting this positive trend are expectations for interest rate cuts by the Federal Reserve, strong data from the economy, and increased demand for tech equities, which have allowed investors to become more risk-averse. As a result, traders should monitor the resistance level of $93K for Bitcoin and $3,050 for Ethereum as the next significant test levels for each cryptocurrency.
1. Why did Bitcoin increase above the $90,000 threshold today?
Bitcoin surpassed $90,000 today amid heightened expectations of an imminent rate cut by the US Federal Reserve. Usually, falling interest rates are viewed as a positive catalyst for risk assets such as bitcoin and other cryptocurrencies because they reduce borrowing costs, allowing investors to allocate capital to higher-return investments.
2. Are any altcoins experiencing a rise with Bitcoin?
All of the major altcoins (i.e., Ethereum, Solana, BNB, Cardano, and XRP) saw price increases over the past 24 hours, driven by investor sentiment, capital inflows, and strong technical indicators across the broader cryptocurrency ecosystem.
3. What are the key resistance levels to watch for next?
Traders will monitor the $93,000 level for Bitcoin to determine whether recent price action warrants continued upward momentum. Similarly, traders will be looking to monitor Ethereum at $3,050 as a potential trend change point, which may signal continued upward price momentum in the days to come if the upper levels of these two crypto-assets' current price action are decisively broken.
4. How are macroeconomic conditions influencing cryptocurrencies at the current time?
Macroeconomic conditions today directly affect crypto prices. Investors are predicting a decrease in interest rates by the Federal Reserve in December, and positive comments from the Federal Reserve, along with a strong employment report, have created an increased risk-taking attitude in investors who believe they are now more secure about the overall stability of the economy, resulting in an influx of capital into cryptocurrencies.
5. Do you think this bull run will continue?
The short-term outlook is looking good, but it depends on Bitcoin's ability to break the next resistance and on the recent favorable macroeconomic circumstances to continue. Additional upside for cryptocurrencies could be seen if interest rate cuts start to become a serious possibility and global equity markets continue to trend higher. Still, given their high volatility, they should be approached with caution.
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