Dogecoin <a class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> pulled back on the Thanksgiving holiday, alongside a sharp decline in trading activity.



<h2 class="wp-block-heading">Analyst Spots Key Resistance As Memecoin Slips</h2>



The dog-themed memecoin slipped over 2% in the last 24 hours, with volume plunging 38% to $918 million. The decline was steeper than that of market heavyweights like Bitcoin&nbsp;<a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noreferrer noopener">(CRYPTO:&nbsp;</a><a href="https://www.benzinga.com/quote/btc/usd" target="_blank" rel="noreferrer noopener">BTC</a>) and Ethereum&nbsp;<a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noreferrer noopener">(CRYPTO:&nbsp;</a><a href="https://www.benzinga.com/quote/eth/usd" target="_blank" rel="noreferrer noopener">ETH</a>), which fell by 0.40% and 1.39%, respectively.



Ali Martinez, a widely followed cryptocurrency analyst and trader, identified $0.20 as the &#8220;main resistance&#8221; for the popular token, while $0.080 served as a key support.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$0.080 is the key support for Dogecoin <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>, while $0.20 stands as the main resistance. <a href="https://t.co/1yCNAhqTDk">pic.twitter.com/1yCNAhqTDk</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1994005028344864864?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Uncertainty About Next Moves?</h2>



EtherNasyonaL, another technical analyst with a sizeable following on X, highlighted the Elliott Wave theory on Dogecoin&#8217;s chart.



&#8220;Structure hasn't confirmed a clear breakout yet, keeping the price moving inside a consolidation zone awaiting completion of this wave,&#8221; the analyst stated. &#8220;Breakout that follows will define the strength and direction of the next major trend.&#8221;



The Elliott Wave Theory interprets price movements in markets&nbsp;through recurrent fractal wave patterns. Traders use these patterns to forecast future market movements and identify potential entry and exit points.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> is still trapped within the third-wave deadlock. Structure hasn't confirmed a clear breakout yet, keeping the price moving inside a consolidation zone awaiting completion of this wave. Breakout that follows will define the strength and direction of the next major trend. <a href="https://t.co/cyJNUSFnPW">https://t.co/cyJNUSFnPW</a> <a href="https://t.co/LiLBvVUrPD">pic.twitter.com/LiLBvVUrPD</a>&mdash; EᴛʜᴇʀNᴀꜱʏᴏɴᴀL &#x1f4b9;&#x1f9f2; (@EtherNasyonaL) <a href="https://twitter.com/EtherNasyonaL/status/1993960054261956799?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/news/25/11/49102403/dogecoin-leaps-from-internet-meme-to-nyse-as-two-spot-etfs-begin-trading">Dogecoin (DOGE) Price Prediction 2025, 2026, 2030</a>



<h2 class="wp-block-heading">Dogecoin Spot ETFs Enter Wall Street</h2>



The week has been <a href="https://www.benzinga.com/news/25/11/49102403/dogecoin-leaps-from-internet-meme-to-nyse-as-two-spot-etfs-begin-trading">historic for Dogecoin</a>, with two spot exchange-traded funds, the&nbsp;Grayscale Dogecoin Trust ETF&nbsp;<a href="https://www.benzinga.com/quote/GDOG" target="_blank" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDOG">GDOG</a></a>) and Bitwise Dogecoin ETF&nbsp;<a href="https://www.benzinga.com/quote/BWOW" target="_blank" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BWOW">BWOW</a></a>), launching on Wall Street.



Combined, the two ETFs have attracted $2.16 million in net inflows as of this writing, with $3.23 million in total volumes processed, <a href="https://sosovalue.com/assets/etf/us-doge-spot" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to data from SoSo Value.



Price Action: At the time of writing, DOGE was exchanging hands at $0.1506, down 2.23% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Grayscale ETF closed 1.60% higher at $18.29 during Wednesday's regular trading session. Bitwise DOGE ETF closed at $25.51, up 3.1%.



Photo Courtesy:ihrinmoisuc on Shutterstock.com



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/news/25/11/49102403/dogecoin-leaps-from-internet-meme-to-nyse-as-two-spot-etfs-begin-trading">Dogecoin Leaps From Internet Meme To NYSE As Two Spot ETFs Begin Trading</a></li>
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Dogecoin Still Trapped In 'Third-Wave' Deadlock? Meanwhile, Popular Analyst Sees This Level As 'Main Resistance'

Tron&nbsp;<a class="ticker-link" data-ticker="TRX" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/TRX-USD" target="_blank" rel="noopener">(CRYPTO:&nbsp;TRX)</a> founder and cryptocurrency billionaire&nbsp;Justin Sun pledged his support for the victims of&nbsp;the devastating Hong Kong fire, promising a donation to aid recovery efforts.



<h2 class="wp-block-heading">Sun, Binance Come Forward To Donate</h2>



Sun took to X to express his deep sorrow over the incident and extended his thoughts to&nbsp;all the residents and families&nbsp;affected.



&#8220;To support the relief efforts, I will be making a donation to assist those who have suffered losses and to help with rebuilding and recovery,&#8221; the China-born cryptocurrency mogul announced. &#8220;I hope this contribution can provide timely assistance and comfort to the community.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am deeply saddened to learn about the recent fire in Tai Po, Hong Kong. My thoughts are with all the residents and families affected by this tragic incident. To support the relief efforts, I will be making a donation to assist those who have suffered losses and to help with…&mdash; H.E. Justin Sun &#x1f468;&#x200d;&#x1f680; &#x1f31e; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1993923684764143692?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Alongside Sun, other influential members from the cryptocurrency industry stepped up to assist.



Cryptocurrency exchange Binance <a class="ticker-link" data-ticker="BNB" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BNB-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)</a> said it would donate HK$10 million ($1.29 million) to support rescue and rehabilitation. Binance co-founder Changpeng &#8220;CZ&#8221; Zhao reposted the announcement, saying, &#8220;Heartfelt for Hong Kong.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">心繫香港 <a href="https://t.co/jy2YorN2ec">https://t.co/jy2YorN2ec</a>&mdash; CZ &#x1f536; BNB (@cz_binance) <a href="https://twitter.com/cz_binance/status/1994058998468026478?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/news/25/11/49102403/dogecoin-leaps-from-internet-meme-to-nyse-as-two-spot-etfs-begin-trading" target="_blank" rel="noreferrer noopener">Dogecoin Leaps From Internet Meme To NYSE As Two Spot ETFs Begin Trading</a>



HashKey Group, a Hong Kong-based digital asset financial services company, and cryptocurrency exchange OKX both announced donations worth $1.29 million.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Our hearts are with all those affected by the tragic Tai Po fire in Hong Kong, a city that is home to the core of the HashKey community. We are committed to supporting our community and are donating HK$10 million to aid emergency relief efforts and assist impacted residents.… <a href="https://t.co/hLLCnjiqne">pic.twitter.com/hLLCnjiqne</a>&mdash; HashKey Group (@HashKeyGroup) <a href="https://twitter.com/HashKeyGroup/status/1993949505637765574?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today, we stand with Hong Kong &#x1f1ed;&#x1f1f0; In moments of crisis, courage shows itself and Hong Kong is showing the world what strength looks like. We're contributing HK$10 million to support urgent relief efforts and help the city recover. We're here and we're committed. <a href="https://t.co/XSkwKmPAXj">pic.twitter.com/XSkwKmPAXj</a>&mdash; OKX (@okx) <a href="https://twitter.com/okx/status/1994083843821982178?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Devastating Inferno Shakes Hong Kong</h2>



The fire in Tai Po district, one of the deadliest in Hong Kong&#8217;s history, has left the community in shock and mourning. The death toll has risen to 94, according to a <a href="https://apnews.com/article/hong-kong-tai-po-wang-fuk-court-fire-d3da6740dd2c90f08d28dcd889db0c30">report </a>by&nbsp;AP News.



Firefighters have been battling the blaze since midafternoon Wednesday, when it was believed to have begun in bamboo scaffolding and construction netting and spread to the Wang Fuk Court&nbsp;apartment complex.



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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo Courtesy: Guitar photographer on Shutterstock.com<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Crypto Billionaire Justin Sun Says He Will Donate To Help Victims Of Deadly Fire In Hong Kong, Binance Announces $1.3 Million Support

Leading cryptocurrencies paused on Thanksgiving as trading volumes eased over the holiday break.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin <a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>+0.23%</td><td>$90,926.94</td></tr><tr><td>Ethereum <a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.01%</td><td>$3,001.28</td></tr><tr><td>XRP <a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.57%</td><td>$2.18</td></tr><tr><td>Solana <a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.93%</td><td>$139.58</td></tr><tr><td>Dogecoin <a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.04%</td><td>$0.1512</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">No Thanksgiving Rally For Crypto</h2>



Bitcoin faced rejection at the $92,000 resistance level, a mark previously described as <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49100429/bitcoin-ethereum-xrp-dogecoin-rally-ahead-of-thanksgiving-analyst-notes-btc-holding-a-crucial-level-and-looking-to-attack-the-highs">significant </a>for the apex cryptocurrency. Trading activity remained thin, with volume plummeting 17% over the last 24 hours.



Ethereum also consolidated within the $3,000 region, while trading volume plunged 23%. XRP and Dogecoin also faced declines on the festive day.



Bitcoin has already dropped 17% this month, while Ethereum has plunged 22%, closely mirroring the losses recorded in November 2022.



Cryptocurrency liquidations hit $167 million in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, with nearly $100 million in short positions erased.



Bitcoin's open interest fell 2.64% in the last 24 hours, while funds locked in Ethereum&#8217;s futures contracts slid by over 4%.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 8:30 p.m. ET)</th></tr></thead><tbody><tr><td>Rekt (REKT )&nbsp;&nbsp;&nbsp;</td><td>+44.17%</td><td>$0.0000003939</td></tr><tr><td>Turbo (TURBO)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+25.75%</td><td>$0.002022</td></tr><tr><td>Safe (SAFE )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+24.38%</td><td>$0.1956 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.12 trillion, following an increase of 2.84% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Futures Rise</h2>



Stock futures inched higher Thursday evening. The Dow Jones Industrial Average Futures rose 57 points, or 0.12%, as of 7:47 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.11%, while Nasdaq 100 Futures added 0.13%.



The stock market has faced pressures this month amid broader concerns about an <a href="https://www.benzinga.com/etfs/specialty-etfs/25/11/48921080/why-brewing-fears-of-an-ai-bubble-might-raise-the-profile-of-proshares-nasdaq-100-high-income-etf">artificial intelligence bubble</a>.&nbsp;



However, this holiday shortened week saw a much-needed rebound, with the S&amp;P 500 and the Nasdaq Composite up 3.1% and 4.22%, respectively, driven by <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/49101045/paul-krugman-warns-ai-rallies-driven-by-rate-cut-hopes-are-dead-cat-bounces-says-it-bears-an-unmistakable-resemblance-to-the-dot-com-era">growing expectations</a> of a rate cut next month.



The New York Stock Exchange and the Nasdaq were closed Thursday for Thanksgiving. The market will close early at 1:00 p.m. on Friday.



<h2 class="wp-block-heading">&#8216;Potential Trend Acceleration&#8217; For ETH?</h2>



Widely followed cryptocurrency analyst and trader Ali Martinez identified $84,570 as the support level "that matters" for Bitcoin, while flagged $112,340 as the key resistance to watch.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, $84,570 is the support that matters, and $112,340 is the ceiling to watch. <a href="https://t.co/rI0dhCgiMK">pic.twitter.com/rI0dhCgiMK</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1994090089283018831?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Blockchain analytics firm CryptoQuant noted that among major cryptocurrencies, Ethereum has the "strongest futures appetite" relative to its spot volume, suggesting high speculative interest.



"A rising futures multiple typically forms when market participants anticipate stronger short-term price movement, and the data indicates that ETH traders are increasingly positioning ahead of potential trend acceleration," CryptoQuant emphasized.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ethereum Traders Signal a Shift "A rising futures multiple typically forms when market participants anticipate stronger short-term price movement, and the data indicates that ETH traders are increasingly positioning ahead of potential trend acceleration." – By <a href="https://twitter.com/Crazzyblockk?ref_src=twsrc%5Etfw">@Crazzyblockk</a> <a href="https://t.co/o4kqn76pKF">pic.twitter.com/o4kqn76pKF</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1994090986520097092?ref_src=twsrc%5Etfw">November 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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<li><a href="http://benzinga.com/crypto/cryptocurrency/25/11/49104567/if-you-spent-on-bitcoin-what-you-did-hosting-thanksgiving-dinner-in-2023-heres-how-much-youd-have-this-holiday-season">If You Invested In Bitcoin What You Spent Hosting Thanksgiving Dinner In 2023, Here&#8217;s How Much You&#8217;d Have This Holiday Season</a></li>
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Photo Courtesy: Volodymyr Maksymchuk on Shutterstock.com

Bitcoin Steady On Thanksgiving; Ethereum, Dogecoin, XRP Dip: Analyst Zeroes In On 'Support That Matters' For BTC

Global markets drifted through a quiet session on Thursday as Wall Street remained shut for Thanksgiving, leaving cryptocurrencies as the day's main <a href="https://www.benzinga.com/crypto">source of price action.</a>



Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> rose 1.1% to $91,500 by midday in New York, aiming for a fourth gain in five sessions as it battles to recover from a weeks-long slide that pushed prices as low as $80,000. Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> slipped 0.3% to $3,000 after five straight days of gains, while Solana <a href="https://www.benzinga.com/quote/SOL-USD" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a> dipped 0.7% to $141.9.



Still, Bitcoin is down nearly 17% this month—its worst performance since February—while Ethereum has shed more than 20%.



In Europe, equities saw modest profit-taking. The STOXX 50 slipped 0.2% and the STOXX 600 edged down 0.1%, cooling after three straight sessions of gains, including a solid push higher on Wednesday. 



Puma SE (OTCPK: PUMSY) was the big outlier, jumping more than 18% following reports that China's Anta Sports is exploring a possible takeover of the German sportswear group.



Fresh minutes from the European Central Bank suggested policymakers are comfortable with the current policy stance, pointing to firm economic conditions and inflation gradually aligning with target—factors that support expectations for steady rates.



Geopolitics remained in focus as U.S. envoy Richard Witkoff is set to visit Moscow next week for discussions tied to Washington's proposal for a Russia-Ukraine peace framework. On Thursday, President Vladimir Putin said Russia is open to serious negotiations and that President Donald Trump's plan could serve as the basis for future talks.



In Asia, Japan's Nikkei rose another 1%, helped by optimism over additional government stimulus. Brazil was the day's standout performer. The IBOVESPA climbed 1.7% to a new record, extending its winning streak to a fourth month and pushing year-to-date gains to 32%. 



The iShares MSCI Brazil ETF <a class="ticker-link" data-ticker="EWZ" data-exchange="ARCA" href="https://www.benzinga.com/quote/EWZ" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EWZ">EWZ</a>)</a>—boosted further by the stronger real—has surged 47% over the same period.



On the currency front, the euro held near $1.16, while the British pound steadied at $1.3240 after a multi-day climb. The South Korean won led the day's movers with a 0.6% rise, followed by the New Zealand dollar at 0.5%.



<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major Crypto Markets</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Crypto</th><th>Symbol</th><th>Last</th><th>% Change</th></tr></thead><tbody><tr><td>Bitcoin</td><td>BTCUSD</td><td>91,528.03</td><td>1.12%</td></tr><tr><td>Ethereum</td><td>ETHUSD</td><td>3,020.19</td><td>-0.27%</td></tr><tr><td>Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>XRPUSD</td><td>2.2088</td><td>-0.64%</td></tr><tr><td>Solana </td><td>SOLUSD</td><td>142.06</td><td>-0.71%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>DOGEUSD</td><td>0.1527</td><td>-1.36%</td></tr><tr><td>Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</td><td>ADAUSD</td><td>0.431</td><td>-1.15%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:30 p.m. ET</figcaption></figure>



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</ul>

Bitcoin Rises To $91,500, Brazilian Stocks Hit Record Highs: What's Moving Markets Thursday?

Tether <a class="ticker-link" data-ticker="USDT" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/USDT-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>)</a> just got slapped with the lowest possible stability <a href="https://www.ft.com/content/974926ba-d295-4679-a4ed-7846b7f4242e">score</a> from S&amp;P Global — and in the same breath, it's quietly <a href="https://www.benzinga.com/topic/gold">buying more gold</a> than sovereign nations. Only in crypto does the market's bedrock stablecoin get labeled structurally fragile the very week it starts stockpiling bullion like a central bank preparing for a monetary overhaul.



<ul class="wp-block-list">
<li>Track USDT price <a href="https://www.benzinga.com/quote/USDT-USD">here</a>.</li>
</ul>



<h2 class="wp-block-heading">S&amp;P Sounds The Alarm</h2>



In its Nov. 26 assessment, S&amp;P moved USDT from 4 (constrained) to 5 (weak), warning that Tether's reserve composition has shifted meaningfully toward riskier components including Bitcoin, Gold, Secured loans and Corporate credit. The report notes Bitcoin now accounts for about 5.6% of USDT in circulation, exceeding the 3.9% overcollateralization margin — meaning a sharp price drawdown could leave USDT under-backed.



S&amp;P also cited additional structural weaknesses: limited disclosure, no asset segregation to protect holders in an insolvency scenario, a lack of regulatory guardrails and constraints around primary redemption. In Wall Street language, that's a flashing-red dashboard. In crypto? It's Thursday.



Read Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47922273/schiff-vs-saylor-is-strategys-bitcoin-hoard-a-golden-illusion">Schiff Vs. Saylor: Is Strategy&#8217;s Bitcoin Hoard A Golden Illusion?</a>



<h2 class="wp-block-heading">The Plot Twist: Tether Is Buying Gold Like A Nation-State</h2>



While S&amp;P is questioning the stability of USDT, Financial Times <a href="https://www.ft.com/content/62a6150a-5b4c-4cc4-b175-9c80e2074e5c">reporting</a> shows Tether purchased 26 tonnes of gold last quarter — more than Kazakhstan (18t), Brazil (15t), Turkey (7t) and Iraq (6t). With an estimated 116 tonnes now under its control, Tether has become the world's largest independent holder of physical gold, on par with the national reserves of South Korea and Hungary.



For investors watching de-dollarization trends and the shift toward commodity-and-crypto-anchored finance, the move looks anything but accidental: Tether appears to be hedging against a new monetary era where Bitcoin and gold sit beside reserve currencies — not below them.



<h2 class="wp-block-heading">Investor takeaway</h2>



Two opposing narratives are crashing into each other:



One says Tether is opaque, risky and vulnerable.



The other says Tether is positioning to survive a regime shift most haven't even priced in.



Either S&amp;P is right — and the foundation is cracking — or Tether is preparing early for a world that's about to change.



And if crypto history is any hint, the truth usually lands somewhere profitable in the contradiction.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48601127/tether-just-did-what-bitcoin-never-could-become-the-worlds-shadow-central-bank">Tether Just Did What Bitcoin Never Could — Become The World&#8217;s Shadow Central Bank</a></li>
</ul>

S&P Calls Tether 'Weak' — Meanwhile It's Buying More Gold Than Central Banks

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> just delivered another chapter in the long-running Wall Street meme that refuses to die: when Jim Cramer turns bearish, traders pile in the other way. Days after Cramer publicly warned on CNBC that the recent bounce in crypto "<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49009348/jim-cramer-says-market-bounce-makes-no-sense-as-bitcoin-reels-from-1b-liquidation-wave" target="_blank" rel="noreferrer noopener">makes no sense</a>" and flagged fragility in leveraged positioning, Bitcoin has pushed sharply higher — rallying from around $85,973 on Nov. 21 to roughly $90,473 this week, a gain of about 6.8% over the past five days. For crypto die-hards, the timing was too perfect to ignore.



<ul class="wp-block-list">
<li>Track BTC price <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noreferrer noopener">here</a>.</li>
</ul>



<h2 class="wp-block-heading">A Classic Contrarian Setup</h2>



Heading into the Thanksgiving week, Bitcoin looked <a href="https://www.tradingview.com/news/u_today%3Af56b559bb094b%3A0-jim-cramer-reveals-hidden-trigger-behind-this-week-s-crypto-bloodbath/">battered</a>: down more than 21% over the past month, off about 3% year-to-date and slightly lower versus the past 12 months. Sentiment was cracking, liquidations were mounting and derivatives positioning was stretched. That's precisely when Cramer took a sharp turn bearish, questioning the credibility of the rally and calling out structural risk beneath the price action.



Crypto traders, who now treat Cramer's calls as a sentiment indicator rather than fundamental insight, immediately revived the well-worn "inverse-Cramer" playbook — the crowdsourced belief that when Cramer calls a top or bottom, markets often flip the script. And right on cue, Bitcoin bounced.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/11/49032440/8-billion-mistake-jpmorgan-wall-street-is-underpricing-bitcoin-miners-28-percent">$8 Billion Mistake: Wall Street Underprices Bitcoin Miners By 28%, JPMorgan Says</a>



<h2 class="wp-block-heading">Bulls See A Different Tape</h2>



Adding fuel, Bitmine Immersion Technologies Inc <a class="ticker-link" data-ticker="BMNR" data-exchange="AMEX" href="https://www.benzinga.com/quote/BMNR" target="_blank" rel="noopener">(AMEX:<a class="ticker" href="https://www.benzinga.com/quote/BMNR">BMNR</a>)</a> chair and longtime Bitcoin bull Tom Lee softened his famously aggressive year-end target of $250,000, calling a record-high in 2024 a "<a href="https://x.com/Cointelegraph/status/1993892805379285350?s=20">maybe</a>," but reiterated that he still expects Bitcoin to break above $100,000 before the end of 2025. 



Meanwhile, gold advocate and Bitcoin critic Peter Schiff took to X ahead of Blockchain Week in Dubai, promising he looked forward to "un-orange-pilling" believers — a <a href="https://x.com/PeterSchiff/status/1993820935866998797?s=20">comment</a> that only energized the tribal battle lines further.



For traders tracking psychology over projections, this cocktail of public doubt, washed-out positioning and high-profile bearish rhetoric is exactly the recipe for contrarian upside.



<h2 class="wp-block-heading">Investor Takeaway</h2>



Bitcoin is fighting back from a deep drawdown with sentiment — not fundamentals — driving the move. If momentum holds and shorts scramble, the inverse-Cramer crowd may notch another trophy. But with volatility accelerating and macro uncertainty still thick in the air, this bounce needs follow-through fast.



For now, the scoreboard reads: Cramer cautious, Schiff circling, Lee still bullish — and Bitcoin refusing to stay down.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49094652/tom-lees-shock-call-meets-bitmines-supply-squeeze-is-eth-set-to-ignite">Tom Lee&#8217;s Shock Call Meets BitMine&#8217;s Supply Squeeze</a></li>
</ul>

Bitcoin Surges After Cramer's Bearish Call — Inverse-Cramer Strikes Again

What could be better than a sumptuous Thanksgiving dinner? The roasted turkey, the delicious side dishes, the mouthwatering dessert, and some good old apple cider.



But hosting the dinner might sting a little, with expenses rising year after year.



<h2 class="wp-block-heading">Can Thanksgiving Costs Fuel Bitcoin Investment Choices?</h2>



Thanksgiving is a widely celebrated holiday in the U.S., centered around giving thanks and sharing a large meal with family and friends.&nbsp;This year, it falls on Nov. 27



This year, according to a LendingTree <a href="https://www.lendingtree.com/credit-cards/study/thanksgiving-higher-costs/?sid=b2867617%7Cindependentcouk_yahoo">survey</a>, the average American is expected to spend about $487 on food, drinks and decor, up 13% from last year and 34% from 2023.



With the costs of hosting the dinner rising, 19% of the people surveyed said they may reconsider doing so next year.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Average 2023 Thanksgiving Cost</td><td>Average 2024 Thanksgiving Cost</td><td>Average 2025 Thanksgiving Cost</td></tr><tr><td>$362</td><td>$431</td><td>$487</td></tr></tbody></table></figure>



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/markets/equities/25/11/49036935/is-the-stock-market-open-on-thanksgiving-2025-holiday-schedule">Is The Stock Market Open On Thanksgiving? 2025 Holiday Schedule</a>



While Thanksgiving dinner may be eating into your budget, a few assets have been fattening wallets instead.



Take Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> for example. On Thanksgiving Day 2023, the apex cryptocurrency was worth $37,289.62 each. Today it&#8217;s worth 133% more.



So, if you invested the same money in Bitcoin as you did in organizing a Thanksgiving dinner in 2023, i.e, $362, it&#8217;d have grown to $844.12 today, enough to host a feast in 2025 without breaking the bank.



This remains the case even after Bitcoin <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49077607/mohamed-el-erian-argues-bitcoins-drop-is-due-to-flight-of-speculative-tourist-investors-but-this-analyst-says-its-not-the-end-of-the-world">descended from its all-time high of $126,198.07</a> last month amid a sharp market correction.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price (Recorded on Nov. 23, 2023)</td><td>Price (Recorded at 5 a.m. ET)</td><td>Gains +/-</td></tr><tr><td>Bitcoin</td><td>$37,289.62 </td><td>$86,952.92</td><td>+133.183%</td></tr></tbody></table></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/management/25/11/49061992/billionaire-warren-buffett-joked-without-the-2008-bailout-id-be-having-thanksgiving-dinner-at-mcdonalds-not-a-big-turkey-at-my-daughters">Billionaire Warren Buffett Joked Without The 2008 Bailout —&#8217;I&#8217;d Be Having Thanksgiving Dinner At McDonald&#8217;s, Not a Big Turkey At My Daughter&#8217;s&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

If You Invested In Bitcoin What You Spent Hosting Thanksgiving Dinner In 2023, Here's How Much You'd Have This Holiday Season

Paolo Ardoino, the CEO of Tether <a class="ticker-link" data-ticker="USDT" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/USDT-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>)</a>, questioned on Wednesday the methodologies adopted by traditional rating agencies after the S&amp;P downgraded the stablecoin issuer&#8217;s stability rating.



<h2 class="wp-block-heading">Tether CEO Challenges TradFi Ratings</h2>



Ardoino slammed S&amp;P Global Ratings in an X post, saying that the company wears the &#8220;loathing&#8221; with pride.



Ardoino criticized the &#8220;classical rating models,&#8221; alleging that they have led investors to put money in companies that eventually collapsed despite receiving investment-grade ratings. 



&#8220;The traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system,&#8221; the CEO said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">to S&amp;P regarding your Tether rating: We wear your loathing with pride. The classical rating models built for legacy financial institutions, historically led private and institutional investors to invest their wealth into companies that despite being attributed investment grade…&mdash; Paolo Ardoino &#x1f916; (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1993731485291913649?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/Opinion/25/11/49091933/south-koreas-stablecoin-war-heats-up-as-tech-giants-race-to-challenge-dollar-dominance">South Korea&#8217;s Stablecoin War Heats Up As Tech Giants Race To Challenge Dollar Dominance</a>



<h2 class="wp-block-heading">Ardoino Says Tether Is Overcollateralized</h2>



Ardoino also claimed that Tether is&nbsp;the &#8220;first overcapitalized company&#8221; in&nbsp;the financial industry and remains &#8220;extremely profitable.&#8221;



The S&amp;P Global Ratings didn&#8217;t immediately return Benzinga&#8217;s request for comment.



<h2 class="wp-block-heading">Why Did S&amp;P Downgrade Tether?</h2>



Ardoino&#8217;s remark comes after S&amp;P <a href="https://www.spglobal.com/ratings/en/regulatory/delegate/getPDF?articleId=3486415&amp;type=COMMENTS&amp;defaultFormat=PDF">downgraded </a>Tether&#8217;s ability to<a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27115920/what-are-stablecoins-how-do-they-work-how-many-are-there"> maintain its pe</a>g with the dollar from &#8220;Constrained&#8221; to the lowest tier, &#8220;Weak,&#8221; citing a higher allocation to &#8220;high-risk&#8221; reserve assets, including Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and Gold. 



The rating agency noted that Bitcoin represents 5.6% of USDT&#8217;s circulating supply and warned that a drop in high-risk assets could leave reserves insufficient for collateral coverage.



<h2 class="wp-block-heading">Tether&#8217;s Credentials</h2>



Tether<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42956569/tether-to-relocate-headquarters-to-el-salvador" target="_blank" rel="noreferrer noopener">&nbsp;relocated its operations</a>&nbsp;to El Salvador earlier this year, a move prompted by the country's cryptocurrency-friendly policies and adoption of digital assets.&nbsp;



Ardoino had stated earlier this year that Tether <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46019582/circles-blockbuster-success-aside-tether-ceo-doesnt-want-to-go-public-not-trying-to-please-couple-of-jpmorgan-analysts">had no plans to go for a Wall Street listing</a>, citing the company&#8217;s profitability and conservative management as key reasons



Tether&#8217;s latest&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48517822/tether-now-holds-more-us-debt-than-south-korea-germany-ceo-paolo-ardoino-says-stablecoin-issuer-will-soon-surpass-brazil-with-200-billion-target">attestation&nbsp;</a>report shows $181 billion in reserves backing its tokens. It is also the 17th largest holder of U.S. sovereign debt, with $135 billion in treasuries



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/Opinion/25/11/48655619/bitcoin-etf-problem-why-wall-streets-safe-investment-made-crypto-more-dangerous" target="_blank" rel="noreferrer noopener">T</a><a href="https://www.benzinga.com/Opinion/25/11/49042006/tethers-gold-royalty-shift-what-it-means-for-your-portfolio">ether&#8217;s Gold Royalty Shift &#8211; And What It Means For Your Portfolio</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: DIAMOND VISUALS/Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Tether CEO Paolo Ardoino Slams Traditional Rating Agencies After S&P Downgrades Its Dollar Peg Ability

Grayscale, the world's largest cryptocurrency-focused asset manager, teased its Dogecoin <a class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> spot exchange-traded fund with a humorous meme on Wednesday.



<h2 class="wp-block-heading">Grayscale Posts Shiba Inu Meme</h2>



The meme video posted on X overlays the viral Shiba Inu image on pet dogs riding an escalator. At the same time, the Grayscale logo is placed over their owners, suggesting Dogecoin&#8217;s growing mainstream adoption through the new Grayscale Dogecoin Trust ETF <a href="https://www.benzinga.com/quote/GDOG" target="_blank" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDOG">GDOG</a></a>).



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Grayscale Dogecoin Trust ETF (Ticker: <a href="https://twitter.com/search?q=%24GDOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GDOG</a>) visualized. Get exposure to <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>, now available right in your brokerage account. <a href="https://t.co/5xFSBbthi4">pic.twitter.com/5xFSBbthi4</a>&mdash; Grayscale (@Grayscale) <a href="https://twitter.com/Grayscale/status/1993756932226875696?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Grayscale Opens The Show</h2>



The ETF <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49050767/dogecoin-trades-higher-tuesday-morning-as-grayscale-doge-etf-debuts-on-wall-street">began trading on the NYSE Arca</a> on Monday, becoming the first investment vehicle in the U.S. to expose investors to the spot price of DOGE tokens held&nbsp;directly in investment accounts.



As of Nov. 26, the Grayscale ETF has seen cumulative inflows of $2.16 million, with total assets under management reaching $3.92 million, <a href="https://sosovalue.com/assets/etf/us-doge-spot" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to data from SoSo Value.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">Dogecoin (DOGE) Price Prediction 2025, 2026, 2030</a>



<h2 class="wp-block-heading">Bitwise Joins In</h2>



Grayscale ETF was followed by the launch of Bitwise Dogecoin ETF <a class="ticker-link" data-ticker="BWOW" data-exchange="ARCA" href="https://www.benzinga.com/quote/BWOW" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BWOW">BWOW</a>)</a> on Wednesday, making this week a historic one for the popular memecoin.



The Bitwise ETF saw trading volume of $2.83 million on its first day, double that of what Grayscale&#8217;s ETF achieved on its debut.



However, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49062136/dogecoins-first-etf-launches-with-0-inflows-is-another-sell-off-coming">just like Grayscale</a>, the Bitwise ETF failed to record inflows on the first day.



Combined, the two ETFs have $6.48 million in assets under management, accounting for 0.03% of DOGE&#8217;s total market value.



Price Action: The new ETFs weighed positively on the memecoin, as DOGE traded up 1.39% to $0.1542 over the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. The coin has gained 4.4% this week.



Grayscale ETF closed 1.60% higher at $18.29 during Wednesday&#8217;s regular trading session. Bitwise DOGE ETF closed at $25.51, up 3.1%.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49062136/dogecoins-first-etf-launches-with-0-inflows-is-another-sell-off-coming">Dogecoin&#8217;s First ETF Launches With 0 Inflows: Is Another Sell-Off Coming?</a></li>
</ul>



Photo courtesy: Shutterstock

Dogecoin Leaps From Internet Meme To NYSE As Two Spot ETFs Begin Trading

Michael Saylor, Executive Chairman of&nbsp;Strategy Inc.&nbsp;<a href="https://www.benzinga.com/quote/MSTR" target="_blank" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a></a>), said on Wednesday that Bitcoin&#8217;s <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> volatility is a feature, not a bug, and is crucial for its &#8220;high performance.&#8221;



<h2 class="wp-block-heading">Saylor&#8217;s Advice For Bitcoin, MSTR Investors </h2>



Saylor took to X, sharing a clip from his recent interview with CoinDesk, in which he discussed the ongoing market correction.



He emphasized that an investor should have a minimum 4-year time horizon to hold Bitcoin, ideally extending to 10 years. 



&#8220;And if you&#8217;re an equity investor in a digital equity like my company, you need that same 4 to 10-year time horizon,&#8221; the Bitcoin bull added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin's volatility is a feature, not a bug — and it can be harnessed to move civilization forward. <a href="https://t.co/ExndGrGP8P">pic.twitter.com/ExndGrGP8P</a>&mdash; Michael Saylor (@saylor) <a href="https://twitter.com/saylor/status/1993753734242062823?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/crypto/25/11/49098464/bitcoin-ethereum-dogecoin-are-down-since-last-thanksgiving-prepare-for-some-awkward-dinner-table-questions" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Are Down Since Last Thanksgiving: Prepare For Some Awkward Dinner-Table Questions</a>



<h2 class="wp-block-heading">Traditional Investors Would Have &#8216;Dominated&#8217; If Bitcoin Weren&#8217;t Volatile</h2>



Saylor said Bitcoin&#8217;s volatility is a feature, not a bug, arguing that if it weren&#8217;t volatile, it wouldn&#8217;t deliver &#8220;high performance&#8221; as expected.



He also argued that only &#8220;conventional finance investors&#8221; would have dominated the market if Bitcoin grew 2% a month forever with no volatility.



&#8220;Warren Buffett would own all of it and there wouldn&#8217;t be an opportunity for us,&#8221; Saylor said.



<h2 class="wp-block-heading">MSTR&#8217;s Roller Coaster</h2>



Saylor&#8217;s comments come in the backdrop of recent criticisms against Strategy, which has been described as a &#8220;highly leveraged&#8221; Bitcoin bet. Economist Peter Schiff <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49024473/peter-schiff-questions-strategys-inclusion-in-global-equity-indexes-after-jpmorgans-warning-bitcoin-bull-michael-saylor-calls-report-alarmist">questioned Strategy&#8217;s inclusion in global equity benchmarks</a> earlier this week, given the company&#8217;s heavy reliance on Bitcoin&#8217;s performance. 



Notably, JPMorgan analysts warned that Strategy risks delisting from major equity indices due to ongoing sell-offs. The stock is down 40% in a month.



However, Saylor has consistently <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48969065/michael-saylor-says-strategy-will-continue-to-create-shareholder-value-as-long-as-bitcoin-grows-by-this-much-annually">defended the firm&#8217;s business model</a>. He said last week that as long as Bitcoin increases by 1.25% annually, Strategy can maintain its dividend payments indefinitely and boost shareholder value.



Price Action: At the time of writing, BTC was exchanging hands at $91,794.94, up 4.25% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Strategy shares rose 0.75% in after-hours trading to $176.96.&nbsp;The stock closed 3.74% lower at $175.64&nbsp;during Wednesday&#8217;s regular trading session. 



The stock maintains a weaker price trend over the short, medium and long terms. How does it compare with&nbsp;other Bitcoin treasury companies, such as American Bitcoin Corp. <a href="https://www.benzinga.com/quote/ABTC" target="_blank" class="ticker-link" data-ticker="ABTC" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABTC">ABTC</a>)</a>? Visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to find out.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="997" height="197" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26225250/image-666.png" alt="" class="wp-image-1186288" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26225250/image-666.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26225250/image-666-300x59.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26225250/image-666-768x152.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">Bitcoin (BTC) Price Predictions: 2025, 2026, 2030</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo by Frame Stock Footage via Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Michael Saylor Says Bitcoin's Volatility Is A Feature, Not A Bug: Warren Buffett 'Would Own All Of It' If It Wasn't Volatile

Anthony Scaramucci, the founder of&nbsp;SkyBridge Capital, highlighted on Wednesday the significance of JPMorgan Chase &amp; Co.'s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>)&nbsp;move to offer a Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>-backed bond.



<h2 class="wp-block-heading">Scaramucci Cheers JPMorgan&#8217;s Move</h2>



In an X post, Scaramucci hailed it as a &#8220;huge&#8221; milestone and wondered why there hasn&#8217;t been much talk about it.



&#8220;I don't think people are fully understanding how huge it is that JP Morgan is now offering a Bitcoin back Bond,&#8221; the Bitcoin bull said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I don't think people are fully understanding how huge it is that JP Morgan is now offering a bitcoin back Bond.&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1993690114807955576?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/crypto/25/11/48921531/elizabeth-warren-jack-reed-call-for-probe-into-trump-linked-world-liberty-financial-over-national-security-concerns-report" target="_blank" rel="noreferrer noopener">Elizabeth Warren, Jack Reed Call For Probe Into Trump-Linked World Liberty Financial Over National Security Concerns: Report</a>



<h2 class="wp-block-heading">JPMorgan&#8217;s New Bitcoin-Based Offering</h2>



This remark comes days after the banking giant filed to offer structured notes tracking the price of the iShares Bitcoin Trust ETF <a class="ticker-link" data-ticker="IBIT" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/IBIT" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IBIT">IBIT</a>)</a>.



The notes are designed for investors who seek an uncapped return of 1.50 times any increase in the Fund's value at maturity, according to an SEC filing. The vehicle also allows an early exit before maturity if IBIT trades at a price equal to or greater than the preset price in December 2026.



A&nbsp;structured note&nbsp;is a hybrid security that combines elements of debt and derivatives into a single financial product.&nbsp;Find out more about the investment <a href="https://www.benzinga.com/money/structured-notes-to-reduce-crypto-risk">here</a>.



As of this writing, IBIT stands as the largest cryptocurrency-based fund, with assets under management in excess of $67 billion, <a href="https://sosovalue.com/bigChart/Etf_NASDAQ_IBIT?title=iShares%20Bitcoin%20Trust(IBIT)&amp;coin=BTC&amp;page=usBTC">according </a>to SoSo Value.



Interestingly, Eduardo, an X user, disagreed with Scaramucci&#8217;s claim that the offering was a Bitcoin-backed bond, instead defining it as a &#8220;Bitcoin-beta note&#8221; with hedging.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There's no Bitcoin-backed bond. There's a Bitcoin-beta note sold by JPM with hedging behind it. The product is huge, not because investors missed the memo, but because banks know the playbook in narrative assets, that are manufacture upside convexity, hedge delta dynamically, and…&mdash; Eduardo (@_TheEduardo) <a href="https://twitter.com/_TheEduardo/status/1993720181395230869?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Dimon&#8217;s Bitcoin Skepticism Not A Hindrance</h2>



Notably,&nbsp;JPMorgan CEO&nbsp;Jamie Dimon&nbsp;has been a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42869884/jamie-dimon-questioned-bitcoins-21-million-cap-years-before-blackrock-heres-how-much-youd-have-if-you-invested-1000-into-btc-when-jpmorgan-ceo-shared-his-take" target="_blank" rel="noreferrer noopener">vocal critic of Bitcoin</a>, calling it a "pet rock." Despite this criticism, he has indicated support for client liberty in digital asset investing.



Last month, Dimon acknowledged that cryptocurrency, blockchain and stablecoins <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48540185/jpmorgan-ceo-jamie-dimon-once-called-bitcoin-a-pet-rock-now-he-says-crypto-stablecoins-are-real-well-all-use-them">are &#8220;real&#8221;</a> and are now widely embraced.



Price Action: At the time of writing, BTC was trading at $91,092.82, up 3.73% over the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Shares of JPMorgan were up 0.31% in after-hours trading. The stock closed 1.53% higher at $307.64&nbsp;during Wednesday&#8217;s regular trading session.&nbsp;



JPM ranked high on the Momentum and Growth metrics, but lagged on the Quality indicator. For similar information on other big banking stocks, check out the&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="963" height="195" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26212648/image-664.png" alt="" class="wp-image-1186173" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26212648/image-664.png 963w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26212648/image-664-300x61.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/26212648/image-664-768x156.png 768w" sizes="(max-width: 963px) 100vw, 963px" /></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/11/49065658/tom-lee-sticks-to-7000-ethereum-price-target-but-only-after-a-dip-to-2500" target="_blank" rel="noreferrer noopener">Tom Lee Sticks To $7,000 Ethereum Price Target, But Only After A Dip To $2,500</a></li>
</ul>



Photo courtesy: Al Teich / Shutterstock.com



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Anthony Scaramucci Cheers JPMorgan's New Bitcoin-Linked Offering, Says Market Is Missing  Scale Of The 'Huge' Milestone

Leading cryptocurrencies rallied alongside stocks on Wednesday, as investors shifted to risk-taking ahead of Thanksgiving festivities.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:15 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+3.71%</td><td>$90,739.79</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.90%</td><td>$3,036.45</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.42%</td><td>$2.22</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.92%</td><td>$142.92</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.58%</td><td>$0.1548</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Festive Rally Continues</h2>



Bitcoin surged to an intraday high of $90,819, continuing its strong Thanksgiving week rebound.



Ethereum broke through the $3,000 barrier after a week, although trading activity for the second-largest cryptocurrency remained thin. XRP and Dogecoin gained 1.42% and 1.58%, respectively, in the last 24 hours.



Bitcoin's dominance dipped below 58%, while Ethereum's market share fell to 11.8%.



Shares of Bitcoin treasury company Strategy Inc. <a href="https://www.benzinga.com/quote/MSTR" target="_blank" class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a> lifted 2% during the regular trading session.



Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. <a href="https://www.benzinga.com/edge/">Find out more about MSTR here.</a>



Cryptocurrency liquidations reached $270 million in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, with $192 in bearish shorts wiped out.



Bitcoin's open interest increased by 2.38% to $61 billion in the last 24 hours. More than 67% of Binance top traders, i.e, the top 20% users with the highest margin balance, were positioned long on the leading cryptocurrency.



That said, the &#8220;Extreme Fear&#8221; sentiment persisted in the market, <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 8:15 p.m. ET)</th></tr></thead><tbody><tr><td>Merlin Chain (MERL )&nbsp;&nbsp;&nbsp;</td><td>+144.55%</td><td>$0.5261</td></tr><tr><td>Brett (Based) (BRETT)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+20.13%</td><td>$0.01919</td></tr><tr><td>Dash (DASH )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+19.72%</td><td>$69.59 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.1 trillion, growing by 2.58% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Extend Winning Run</h2>



The stock market extended its winning streak on Wednesday. The Dow Jones Industrial Average rallied 314.67 points, or 0.67%, to end at 47,427.12. The S&amp;P 500 gained 0.69% to settle at 6,812.61, while the tech-focused Nasdaq Composite rose 0.82% to close at 23,214.69.



Fresh <a href="https://www.benzinga.com/markets/equities/25/11/49092463/markets-today-wall-street-wednesday-robinhood-dell-tech-stocks-earnings-thanksgiving-bitcoin-price">labor market data boosted sentiment</a>, as initial jobless claims for the week ending Nov. 22 fell to 216,000 from 222,000, beating expectations of 225,000.&nbsp;



Expectations for a December rate cut remained high, with traders pricing in a 84% possibility of 25 basis point cut decrease, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according</a> to the CME FedWatch tool.&nbsp;



The New York Stock Exchange and the Nasdaq will be closed Thursday for Thanksgiving.



<h2 class="wp-block-heading">Was BTC&#8217;s Recent Low A Bottom?</h2>



Widely followed cryptocurrency analyst and trader Ali Martinez highlighted that The Puell Multiple, a metric tracking Bitcoin miners&#8217; daily revenue against its yearly average, currently stood at 0.67.



Historically, when the indicator has dropped below 0.50, it has marked Bitcoin cycle bottoms, Martinez added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Puell Multiple has marked Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> cycle bottoms since 2015 when it drops below 0.50. It's now at 0.67. <a href="https://t.co/6Z0ednSaRf">pic.twitter.com/6Z0ednSaRf</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1993807728167596211?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michaël van de Poppe, another well-known cryptocurrency market commentator, stated that BTC is at a crucial level and a break above $92,000 by month-end could confirm the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49021364/bitcoin-plunge-traps-over-70-of-capital-market-sentiment-hits-new-low">recent low </a>below $80,000 as a cycle bottom.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#39;Ik zie lichtpuntjes&#39;. That&#39;s what they said about Ajax, last night. The only one? Bounida. Today; the same can be said about <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. It holds a crucial level and is looking to attack the highs. Again, if it can continue doing this, attacking $92K and potentially break it… <a href="https://t.co/HvR7RUxTU6">pic.twitter.com/HvR7RUxTU6</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1993757535871144071?ref_src=twsrc%5Etfw">November 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Marc Bruxelle on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49094652/tom-lees-shock-call-meets-bitmines-supply-squeeze-is-eth-set-to-ignite">Tom Lee&#8217;s Shock Call Meets BitMine&#8217;s Supply Squeeze — Is ETH Set To Ignite?</a></li>
</ul>

Bitcoin, Ethereum, XRP, Dogecoin Rally Ahead Of Thanksgiving: Analyst Notes BTC Holding A 'Crucial Level' And Looking To Attack The Highs

The <a href="https://www.benzinga.com/markets/equities/25/11/49036935/is-the-stock-market-open-on-thanksgiving-2025-holiday-schedule">Thanksgiving Day holiday</a> brings many families together and also invites topics among family members. One topic of conversation that has likely increased in recent years is the potential for investing in cryptocurrency.



If you recommended cryptocurrency to your family last Thanksgiving, they may not be as happy with you this year as in past years. After spending time at the adult table, you could be relegated to the kids table this Thanksgiving.



Here's a look at how the prices of Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener"><a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></a>, Dogecoin <a href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener"><a href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></a>, and Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener"><a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></a> have changed since last Thanksgiving.



<h2 class="wp-block-heading">Investing In Bitcoin, Dogecoin, Ethereum</h2>



The Thanksgiving Day holiday for many includes traditions such as family, food&nbsp;<a href="https://www.benzinga.com/general/sports/24/11/42226470/heres-why-the-detroit-lions-dallas-cowboys-always-have-thanksgiving-day-nfl-games" target="_blank" rel="noreferrer noopener">and football</a>. Dinner conversations could center on school, work, politics and potentially investments like stocks&nbsp;<a href="https://www.benzinga.com/money/crypto" target="_blank" rel="noreferrer noopener">and cryptocurrencies.</a>



Cryptocurrency markets were riding high in November 2024, with some hitting all-time highs around the time of the 2024 presidential election.



The suggestion of investing in cryptocurrency for more gains in 2025 may have been a topic at many Thanksgiving Day family tables last year.



Family members who tried to talk their relatives into buying cryptocurrencies that year have likely received some questions from relatives in the past year or so, as the sector has faced high volatility and the prices of major cryptocurrencies have fallen since last November.



Here&#8217;s a look at how investments would have fared over the last nearly one-year period, investing $1,000 in each of Bitcoin, Dogecoin and Ethereum.



A $1,000 investment in Bitcoin on Thanksgiving 2024 could have purchased 0.0103 BTC. The investment would be worth $925.45 today based on a price of $89,849.11 at the time of writing. The investment would be down 7.5% since the holiday last year.



A $1,000 investment in Dogecoin on Thanksgiving 2024 could have purchased 2,340.28 DOGE. The investment would be worth $362.51 today based on a price of $0.1549 at the time of writing. The investment would be down 63.7% since the holiday last year.



A $1,000 investment in Ethereum on Thanksgiving 2024 could have purchased 0.2729 ETH. The investment would be worth $823.53 today based on a price of $3,017.69 at the time of writing. The investment would be down 17.6% since the holiday last year.



In total, a $3,000 investment in the three well-known and discussed cryptocurrencies would be worth $2,111.49 today, down 29.6%



Read Also: <a href="https://www.benzinga.com/crypto/25/10/48028858/bitcoin-enthusiast-pompliano-shocked-by-stimulus-check-investment-stat-heres-what-you-could-have-made">Bitcoin Enthusiast Pompliano Shocked By Stimulus Check Investment Stat: Here&#8217;s What You Could Have Made</a>



<h2 class="wp-block-heading">Past Thanksgiving Day Crypto History</h2>



This year tells a very different story for family members who suggested cryptocurrency investments to others.



Last year <a href="https://www.benzinga.com/general/education/24/11/42232990/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-ethereum-at-thanksgiving-last-year-heres-how-much-they-now-have-and-why-you-might-be-invited-back-to-the-adult-table-2">was significantly different,</a> with all three of the cryptocurrencies above up from Thanksgiving 2023 to Thanksgiving 2024.



Here were the 2023 to 2024 gains:



<ul class="wp-block-list">
<li>Bitcoin: +156.3%</li>



<li>Dogecoin: +426.1%</li>



<li>Ethereum: +74.3%</li>
</ul>



The returns from 2023 to 2024 outpaced the gains from both 2021 to 2022 and 2022 to 2023.



In 2023, <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35930558/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-ethereum-at-thanksgiving-last-year-h">Benzinga shared</a> that the returns of Bitcoin, Dogecoin and Ethereum from Thanksgiving 2022 to Thanksgiving 2023 would have been up 123.3%, down 9.2% and up 70.5% respectively. The $3,000 investment from Thanksgiving 2022 to Thanksgiving 2023 would have been worth $4,846.24 and up 61.5%.



As&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29846094/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-and-ethereum-at-thanksgiving-last-ye" target="_blank" rel="noreferrer noopener">Benzinga previously shared</a>, investing in Bitcoin, Dogecoin and Ethereum on Thanksgiving Day 2021 would have been down 72.3%, 64.6% and 72.5%, respectively a year later.



A $3,000 investment split between the three leading cryptocurrencies would have been down 69.8% to $905.69 from Thanksgiving 2021 to Thanksgiving 2022.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/entertainment/25/11/49094214/netflix-free-for-50-years-reality-if-you-invested-1000-in-streamer-when-stranger-things-came-out">Netflix Free For 50 Years? Reality If You Invested $1,000 In Streamer When &#8216;Stranger Things&#8217; Came Out</a></li>
</ul>



This article was previously published by Benzinga and has been updated.



Image created using artificial intelligence via Midjourney.

Bitcoin, Ethereum, Dogecoin Are Down Since Last Thanksgiving: Prepare For Some Awkward Dinner-Table Questions

Crypto traders are fixated on Tom Lee's <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49065658/tom-lee-sticks-to-7000-ethereum-price-target-but-only-after-a-dip-to-2500">latest shock call</a>: Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> could <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49086915/ethereum-below-3000-trader-netting-578000-with-a-short-says-that-was-the-easy-part">plunge toward $2,500</a> in a capitulation flush before ripping into a Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>-style supercycle run toward $7,000–$9,000. The timing, he argues, is measured in weeks, not years — a countdown that has electrified sentiment even as price action remains fragile. 



<ul class="wp-block-list">
<li>Track ETH price <a href="https://www.benzinga.com/quote/ETH-USD">here</a>.</li>
</ul>



But while screens flash red and green, the real power shift may be happening off-chart: Bitmine Immersion Technologies Inc <a class="ticker-link" data-ticker="BMNR" data-exchange="AMEX" href="https://www.benzinga.com/quote/BMNR" target="_blank" rel="noopener">(AMEX:<a class="ticker" href="https://www.benzinga.com/quote/BMNR">BMNR</a>)</a> has quietly accumulated roughly 3% of the total ETH supply and is openly signaling ambitions to reach 5%, a line some institutional desks describe as the threshold where scarcity becomes a weapon.



Read Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49015580/bitmines-earnings-tease-a-mavan-moonshot-and-cathie-wood-ken-griffin-were-buying-months-ago">BitMine&#8217;s Earnings Tease A MAVAN Moonshot</a>



<h2 class="wp-block-heading">The Silent Squeeze Forming Under The Surface</h2>



The BitMine position is being viewed not as speculation, but as the early architecture of a controlled supply squeeze. Unlike staking, which can unwind through incentives, or ETF flows that move with retail emotion, a single entity consolidating supply removes liquidity from circulation — creating structural pressure that multiplies if demand turns even slightly. 



If Ethereum truly flushes toward $2,500, the buying opportunity becomes asymmetric: forced sellers meet a buyer with a balance sheet and a long runway. It's the kind of tension that turns quiet accumulation into a market pivot.



For Lee's <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49036075/bitmine-adds-69822-eth-as-tom-lee-maintains-ethereum-supercycle-thesis">supercycle thesis</a> to play out, Ethereum doesn't need parabolic demand. It needs supply to disappear faster than sellers expect. The setup forming now is the kind that historically detonates quickly, not gradually.



<h2 class="wp-block-heading">Watching the wrong battle?</h2>



While headlines obsess over price targets and fear charts, the deeper question is whether BitMine is intentionally setting the stage ahead of a liquidity shock. If the march toward 5% continues, late-movers may find themselves chasing upside in a market with no exits — and the rebound that Lee projects could move faster than screens can adjust.



For traders trying to decide whether this is just another hype cycle or something more structural, the tell may not be the next candle. It may be the moment no one can find Ethereum to buy when they finally need it.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49007686/bitcoins-black-november-drags-microstrategy-stock-to-52-week-lows-oversold-or-more-pain-ahead">Bitcoin&#8217;s Black November Drags MicroStrategy Stock To 52-Week Lows — Oversold Or More Pain Ahead?</a></li>
</ul>



Photo: Alexandru Nika on Shutterstock.com

Tom Lee's Shock Call Meets BitMine's Supply Squeeze — Is ETH Set To Ignite?

Bitcoin pushed back towards the $90,000 mark on Wednesday, buoyed by Texas' landmark Bitcoin ETF acquisition and Nasdaq's move to expand Bitcoin ETF options trading.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$89,824.39</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$3,026.46</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$144.14</td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$2.23</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.1558</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.058645</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 110,219 traders were liquidated in the past 24 hours for $318.79 million.        </li>



<li>In the past 24 hours, top gainers include Merlin Chain, Dash and SPX6900.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/11/49087985/6-billion-meltdown-the-crypto-etf-crash-wall-street-didnt-see-coming">$6 Billion Meltdown: The Crypto ETF Crash Wall Street Didn&#8217;t See Coming</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49083026/bitcoin-to-90000-soon-possible-but-you-wont-like-what-may-happen-next">Bitcoin To $90,000 Soon? Possible, But You Won&#8217;t Like What May Happen Next</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49092328/grayscale-dogecoin-etf-logs-the-first-1-8m-inflow-as-bitwise-launches-rival-doge-etf">Grayscale Dogecoin ETF Logs The First $1.8M Inflow As Bitwise Launches Rival DOGE ETF</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49089049/etf-expert-blasts-faulty-bitcoin-outflow-chart-as-way-off-but-ibits-slide-toward-43-is-very-real">ETF Expert Blasts Faulty Bitcoin Outflow Chart As &#8216;Way Off&#8217; But IBIT&#8217;s Slide Toward $43 Is Very Real</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49081301/robinhood-steps-into-prediction-markets-with-exchange-acquisition-hood-up-3">Robinhood Steps Into Prediction Markets With Exchange Acquisition, HOOD Up 3%</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49077024/cleanspark-executive-says-company-will-keep-buying-bitcoin-but-is-very-strategic-about-it-were-not-ideological">CleanSpark Executive Says Company Will Keep Buying Bitcoin But Is &#8216;Very Strategic&#8217; About It: &#8216;We&#8217;re Not Ideological&#8217;</a></li>
</ul>



Trader Notes: Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1993735953634951559">said</a> traders are laser-focused on this level, noting that a clean breakout could open the door to $93,000.



Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1993694952434635227">highlighted</a> Bitcoin's Thanksgiving performance over the last decade: just 2 green years, 8 red, with an average return of –0.8%.



Crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/1993746795554542039">expects</a> the market may soon present bears with an attractive short setup, arguing that the heavy resistance zone between $91,000–$93,000 could cap upside and trigger a slow bleed lower.



Still, bulls hold a structural advantage. Jelle emphasized that the latest rally is spot-driven rather than perp-driven, a dynamic that typically gives upside moves more durability.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49092054/why-a-bitcoin-thanksgiving-rally-is-probably-not-happening-10x-research">Why A Bitcoin Thanksgiving Rally Is Probably Not Happening: 10x Research</a></li>
</ul>



Image: Shutterstock

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