The cryptocurrency market is showing signs of stabilization today after a volatile November that erased more than $1 trillion in total value. Bitcoin has risen above $93,000, reaching a two-week high as selling pressure eases. Ethereum is also moving higher, driven by the launch of its new Fusaka upgrade, which boosts network speed and scalability.
Overall sentiment is cautiously positive. DeFi tokens are leading gains, and several altcoins are outperforming Bitcoin. However, analysts warn that demand remains weak and that volatility may continue through the month. Many expect December to bring consolidation rather than a major recovery.
Market Overview
- Total Market Cap: $3.17 trillion (+0.61% in 24 hours)
- 24-Hour Trading Volume: +10.98%, showing stronger liquidity
- Bitcoin Dominance: 58.6% (Ethereum at 12.1%)
The market’s rebound follows a sharp selloff that started in early October. Bitcoin dropped from $126,000 to $82,000, while Ether lost nearly 40% from its August high. Today’s move—BTC up 1.6% and ETH above $3,200—suggests oversold conditions correcting, though long-term holders continue to take profits.
Top 10 Cryptocurrencies by Market Cap
| Rank | Cryptocurrency | Price (USD) | 24h Change | Market Cap |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $93,126.46 | +0.02% | $1.86T |
| 2 | Ethereum (ETH) | $3,198.69 | +4.41% | $386.07B |
| 3 | Tether (USDT) | $1.00 | +0.01% | $185.33B |
| 4 | XRP (XRP) | $2.17 | +1.28% | $130.95B |
| 5 | BNB (BNB) | $911.87 | +1.65% | $125.6B |
| 6 | Solana (SOL) | $143.16 | +0.55% | $80.14B |
| 7 | USD Coin (USDC) | $0.9998 | 0.00% | $77.96B |
| 8 | TRON (TRX) | $0.2795 | +0.05% | $26.47B |
| 9 | Dogecoin (DOGE) | $0.1495 | +0.73% | $24.17B |
| 10 | Cardano (ADA) | $0.4509 | +1.45% | $16.19B |
Ethereum shows the strongest daily performance in the top 10, while stablecoins remain anchored amid market uncertainty.
Key News and Trends
Ethereum’s Fusaka Upgrade
Ethereum activated the Fusaka hard fork today. The upgrade promises faster transactions and better scalability. It also boosted ETF inflows, helping ETH rise more than 4% in one day. Analysts say this upgrade could support a broader altcoin rally.
DeFi Tokens Lead Gains
Decentralized finance tokens are outperforming the market:
- Chainlink: +7.51%
- Curve DAO: +12%
Sector activity is rising as investors return to yield-focused protocols.
XRP’s Weak Momentum
XRP is not gaining as strongly as Bitcoin or Ethereum. The token faces resistance on short-term charts, limiting its ability to join the broader rebound.
Japan Tax News Boosts Meme Coins
A proposed flat tax on crypto gains in Japan has triggered large rallies in niche tokens:
- Avici: +1,700%
- DeepSnitch AI (presale): $650K raised
- Monad: Hits $0.04 after mainnet launch
Meme coin enthusiasm remains strong despite wider market caution.
Mining Sector Sees New Investments
Crypto Blockchain Industries (CBI) secured $1 million in non-dilutive financing for new Bitcoin mining servers. This supports continued hash rate expansion during a period of mixed miner profitability.
Market Sentiment Remains Mixed
Traders warn that new address growth is still weak across major blockchains. Some analysts also fear deeper volatility if crypto continues to track stock market movements. Bitcoin’s recent fall to $85,600 earlier this week shows the market remains fragile.
Outlook
Today’s gains offer market relief, but uncertainty remains. December may bring sideways price action as investors wait for clearer signals. For now, the Ethereum upgrade and rising DeFi activity are the strongest positive drivers.
