Bitcoin’s Price Recovery Fuels Altcoin Surge; Wintermute Analyst Foresees Stable Phase

Major cryptocurrencies, including BTC, ETH, and XRP, have all experienced a short-term price bounce on Monday and have been maintaining that bullish momentum. Bitcoin, the largest cryptocurrency by market capitalization, crossed above $87,000 yesterday and reached a high of $89,195 after falling below $80,000 on Friday. Bitcoin’s price rally boosted the overall cryptocurrency market, helping XRP, ETH, and SUI achieve price surges of 9%, 4%, and 12%, respectively. 

Jasper De Maere, an OTC trader at Wintermute, commented on the current market scenario, opining that digital assets had been heavily affected by broader economic problems. According to him, the market is now stabilizing as prominent cryptocurrencies like BTC, XRP, and ETH all perform well. De Maere believes that, despite digital assets being hit hard by the economic downturn, the crypto market now appears to be entering a more stable and less volatile phase. 

“While digital assets have been caught squarely in the macro unwind, the market now sits at a point where consolidation finally looks plausible,” he wrote in a Monday note.

The broader cryptocurrency market recovery is fueled not only by Bitcoin’s momentum but also by recent comments from San Francisco Fed President Mary Daly regarding a possible December rate cut, which had previously seemed unlikely. Nick Timiraos, Chief Economics Correspondent at The Wall Street Journal, wrote on X that San Francisco Fed President Mary Daly told him she supported lowering interest rates at the central bank’s meeting the following month because she saw a sudden deterioration in the job market as both more likely and harder to manage than an inflation flare-up.

NEW: San Francisco Fed President Mary Daly tells me she supports lowering interest rates at the central bank's meeting next month because she sees a sudden deterioration in the job market as both more likely and harder to manage than an inflation flare-up https://t.co/LvhdHCjj08

— Nick Timiraos (@NickTimiraos) November 24, 2025

According to the latest information, the odds for a December interest rate cut are high, with traders pricing an 85% chance of a 25 basis point rate cut for the December 10 meeting. 

Jim Caron, Morgan Stanley Investment Management CIO of the Portfolio Solutions Group, said that the odds of a Federal Reserve rate cut in December were 50/50 on “Bloomberg The Close.” his statement underestimates the current market sentiment. The latest reports back the 85% probability, reflecting stronger expectations for monetary easing.

Ethereum Nears $3K, XRP Surges, While Internal Crypto Market Conditions Improve

ETH, the second-largest cryptocurrency by market capitalization, is trading at $2,932, closing down the gap to the $3,000 psychological level. Ethereum’s native cryptocurrency displayed a 3.7% price increase over the past 24 hours, reversing a 7-day downtrend. XRP, on the other hand, is up by 9% and trading above $2.20 after falling below $1.89 in previous days. 

De Maere wrote that while digital assets had been dragged through a macro-driven unwind, first as the AI melt-up had stalled, and then as the Fed had reset expectations, the internal structure of the market now looked materially healthier. He noted that majors were showing clearer relative strength, sentiment had fully washed out, and the leverage overhang had largely dissipated. He also added that crypto had been the worst-performing major asset class for the third straight week, with broad selling and long unwinds pushing altcoins to the bottom of the pack as the macro-led derisking had continued. He mentioned that while the macro picture remained shaky, the internal structure of the crypto market seemed to be improving.