Ethereum price risks further correction as bullish volume fades

Dogecoin has experienced a notable rise in value as anticipation builds around the upcoming launch of Grayscale's Dogecoin ETF, scheduled for November 24, 2025. Analysts attribute this increase to a combination of meme enthusiasm and institutional inflows, despite ongoing technical uncertainties in the market.

BitMine has acquired an additional 21,537 Ethereum tokens for approximately $60 million, increasing its holdings to over 3% of the total Ethereum supply despite facing around $4 billion in unrealized losses. This purchase comes amid a recovering market for Ethereum, which had previously seen a significant decline of over 25% in value within a month.

This week, Ethereum's landscape was shaken as Vitalik Buterin's RISC-V proposal faced rejection from Arbitrum developers, while Tom Lee reported a significant $3.5 million loss on his investments. Additionally, a mysterious buyer made headlines with a $1 billion bid, creating a tumultuous environment for traders.

The Cardano blockchain experienced a significant network split on November 21, 2025, triggered by a crafted delegation transaction that exploited a known software bug. This incident halted ADA trading on major exchanges and led to an investigation into the exploit, resulting in key resignations within the organization.

Bitcoin's price has risen above $86,000, marking a potential rebound after a period of significant volatility and leverage wipeout. The current trading price is approximately $86,646, reflecting a 0.6% increase in the last 24 hours, with a daily range between $85,483 and $87,995.

BitMine has significantly expanded its Ethereum holdings by purchasing 21,537 ether tokens, despite facing a challenging market characterized by declining stock prices and substantial unrealized losses. This acquisition reflects the company's ongoing strategy to accumulate Ethereum amid adverse market conditions, as reported by analytics platform Lookonchain.

XRP price has recently rebounded, breaking above a key hourly moving average, signaling a potential recovery after a period of decline. This upward movement follows a drop to a six-week low of $2.12, where the market faced profit-taking pressures and reduced trading activity.

Bitwise Chief Investment Officer Matt Hougan has indicated that the rising value capture of crypto tokens, particularly with Ethereum's upcoming Fusako upgrade, may contribute to a market rebound in 2026. This upgrade is expected to enhance the economic value proposition for Ethereum holders, potentially increasing returns significantly.