.png){kind=logo}
Crypto prices today were on an uptrend with Bitcoin, Ethereum, Solana, and XRP climbing on improved macro sentiment.
Fed rate cut expectations rose to 85%, lifting risk assets and increasing confidence in a market-wide recovery.
Institutional ETF flows strengthened for ETH and SOL, signaling growing investor interest beyond Bitcoin.
Crypto prices today showed a strong rebound. The recovery comes after recent volatility that saw Bitcoin briefly test the $80,000 level last week. Altcoins traded in the green zone today with the Federal Reserve interest rate cut expectation boosting sentiment. The total crypto market cap reached $ 3.03 trillion, up by 2.48% at press time. Here’s why crypto prices were up today based on CoinMarketCap data.
Bitcoin price climbed 1.36% to reach $88,247.39. The market cap of the world's largest cryptocurrency stood at $1.76 trillion. Bitcoin was trading within a consolidation range after falling from all-time highs above $100,000 earlier this month.
According to CoinSwitch Markets Desk, “BTC crossed $89,000 due to US equity market rebound, while positive US-China geopolitical developments further boosted market sentiment. BTC ETFs saw a small but positive $9.7 million inflow. If this momentum continues, BTC could make another attempt at breaking the $90,000 level, which has acted as a key barrier in recent sessions.”
The CoinSwitch analysts further added,” BTC’s liquidation heatmap shows strong short-squeeze liquidity above current levels, particularly around $89,500-$90,000, suggesting price may push higher to clear these zones. On the downside, liquidity sits near $85,000–$86,000, indicating that any pullback could briefly dip into this region before stabilizing.”
Altcoins followed Bitcoin’s upward trend. Ethereum price jumped 2.78% to $2,931.27. The second-largest cryptocurrency is now valued at $353.79 billion. ETH broke the psychologically important $2,900 level for the first time in recent days.
Solana price was up by 5.04% to $138.39. XRP price led major altcoins, spiking 8.51% to $2.24. BNB rose 1.91% to $862.66, while its market cap reached $118.82 billion. Cardano price added 3.09% to reach $0.4254, while Dogecoin soared 3.90% to $0.1515. The only major loser among the top ten was TRON (TRX), which slipped 1.44% to $0.2728.
Crypto prices today also showed strength in the stablecoin sector. Tether (USDT) held steady at $0.9996 with a slight 0.03% gain, maintaining its $184.33 billion market cap. USD Coin (USDC) also remained stable at $0.9996, with a $74.70 billion valuation.
Also Read: Crypto Prices Today: Bitcoin Price Hits $87,455; Solana Up 2.14% to $133, Ethereum at $2,864
Crypto prices today are up as traders now see an 85% probability of a 25 basis point rate cut at the Federal Reserve's December 10 meeting, according to CME FedWatch Tool data. This was a sharp rise from just 42% odds a week ago.
San Francisco Fed President Mary Daly recently voiced support for a December rate cut, pointing to concerns about labor market weakness. Her alignment with Fed Chair Jerome Powell's thinking has increased market confidence in the rate reduction, according to a Wall Street Journal report.
Lower interest rates typically benefit risk assets like cryptocurrencies, as they reduce the opportunity cost of holding non-yielding assets and increase liquidity in financial markets.
Bitcoin spot ETFs recorded a net outflow of $151 million on November 24, with Fidelity's FBTC being the only product to attract fresh capital. The outflows reflect continued caution among institutional investors despite the broader market rally.
However, Ethereum price strength was supported by spot ETF inflows totaling $96.67 million on the same day. BlackRock's ETHA led the charge, adding $92.61 million in new investments. Solana price also benefited from positive ETF flows, with $57.99 million in net inflows.
The divergence between Bitcoin and altcoin ETF flows suggests investors may be rotating into smaller-cap digital assets while taking profits on BTC holdings.
The US crypto ETF market is expanding rapidly, with Bitwise announcing its Dogecoin ETF (ticker: BWOW) will begin trading on Wednesday. The launch follows Grayscale's new XRP ETF (GXRP), Franklin Templeton's XRPZ Trust, and Grayscale's GDOG, marking the first US spot Dogecoin ETF.
Bloomberg analysts expect a Chainlink spot ETF to arrive this week as well, with projections calling for more than 100 crypto ETFs to list over the next six months. The wave of new products could bring additional institutional capital into the cryptocurrency market.
Galaxy Digital is in active talks with Polymarket and Kalshi to provide liquidity for prediction markets, CEO Mike Novogratz told Bloomberg. The firm has already completed small-scale market-making trials and plans to expand operations. Jump Trading has also quietly begun making markets on Kalshi, signaling growing institutional interest in the prediction market sector.
Pump.fun co-founder Dylan Kerler denied claims that the team withdrew over $400 million from the platform. He clarified that USDC transfers from the PUMP token sale were routine treasury management, redistributing funds across wallets to support operations. Kerler emphasized that Pump.fun has never worked directly with Circle, responding to concerns raised after analysts flagged large withdrawals during a week-long social media silence.
Also Read: Bitcoin News Today: BTC Extends Losing Streak as Liquidations Intensify
While crypto prices today show encouraging signs of recovery, Bitcoin price may struggle to reclaim $100,000 before year-end. Paul Howard, senior director at trading firm Wincent, pointed to whale selling and reduced liquidity that triggered institutional basis trade unwinding and ETF outflows. Year-end dynamics typically see institutions selling crypto for reporting purposes, which could cap near-term gains. However, Howard noted that strong foundations are in place for significant growth across digital assets over the next 12 months.
1. What caused today's surge in cryptocurrency values?
The increased probability of the Federal Reserve cutting interest rates at its upcoming December meeting has boosted demand for cryptocurrencies, as it creates greater liquidity for investors and lowers the opportunity cost of holding ‘no yield’ assets. This macroeconomic shift led to an increase in the number of participants in the cryptocurrency market.
2. How well has Bitcoin performed during this rebound in the market?
Bitcoin rose more than 1% and reached over $88,000 after negative price action briefly tested $80,000 the previous week. Even though Bitcoin has not yet regained its all-time high, its momentum indicators have improved since last week, and the resetting of its margin trading position should indicate a healthier market for Bitcoin.
3. Which altcoins were the best performers today?
Among the altcoins performing best today were Solana, which gained over 5% due to high trade volume and healthy institutional ETF flows, and XRP, which jumped nearly 8% amid increased institutional interest. Together, these two coins demonstrate an ongoing rotation towards high-growth-potential altcoins.
4. How much effect have ETF flows had on market activity?
ETF flows have had a big impact on overall market sentiment. In contrast to Bitcoin ETFs, which posted net negative flows, Ethereum and Solana saw increased ETF flows. This disparity illustrates that many institutional investors appear to be shifting capital into altcoins they believe have significantly greater upside potential.
5. Is the crypto market recovery sustainable?
Analysts across the industry will continue to monitor BTC's price action closely until the end of 2023. However, BTC will likely face near-term resistance from year-end selling and a reduction in speculative activity due to liquidity constraints. Despite near-term resistance, analysts believe that steady increases in spot-market trading volume, rising demand for BTC, and the continued strong fundamentals of other major cryptocurrencies will give it a much healthier long-term outlook than previously expected.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
