Crypto Markets Dip As US Wholesale Inflation Ticks Up

Major digital assets posted mild losses on Tuesday, Nov. 25, following modest gains on Monday, as investors await clearer signals from macroeconomic data and geopolitical developments.

Bitcoin (BTC) is trading at $87,000, down 2% over the past 24 hours, while Ethereum (ETH) is down 1.6% at $2,930.

Among the top altcoins, XRP dipped 4% to $2.18, Solana (SOL) is flat at $137, and BNB slipped 2% to $856.

The total crypto market cap stands at $3.1 trillion, down 1% in the past 24 hours, with trading volume reaching $154 billion. Bitcoin maintains a 56.5% market share, while Ethereum accounts for 11.5%.

The top gainer over the past 24 hours is Kaspa (KAS), which surged 17%. Ethena (ENA) followed, climbing 11.6% to $0.284, while Quant (QNT) rose 8.7% to $86.71.

On the downside, Zcash (ZEC) led losses, dropping 15% to $495. Bitcoin Cash (BCH) fell 6.6% to $521, while Rain (RAIN) slid 5.1% to $0.007.

Liquidations and ETF flows

More than $318 million in crypto positions were liquidated over the past 24 hours, according to Coinglass data. Short positions accounted for the majority at $163 million, while longs represented $142 million of the liquidations.

Bitcoin led the sell-offs with $103 million liquidated, followed by Ethereum at nearly $60 million, and HYPE with over $40 million in liquidations.

Spot Bitcoin ETFs saw outflows of $151 million on Monday, while Ethereum ETFs attracted inflows of over $97 million. Among altcoins, Solana (SOL) ETFs drew nearly $58 million, and XRP ETFs added approximately $164 million.

Geopolitical Concerns

Experts say crypto assets are trading flat or slightly lower amid uncertainty over the Ukraine conflict, as the U.S., Ukraine, and Russia continue negotiating a potential peace deal, CNN reported earlier today.

Ukraine has reportedly agreed to a U.S. proposal, but President Volodymyr Zelenskyy said more work is needed. However, he may meet U.S. President Donald Trump soon to finalize the agreement, CNN added.

Meanwhile, Russian officials have warned they could reject the plan if it differs too much from previous discussions.

U.S. Inflation Data

Also released earlier today, U.S. inflation data showed that wholesale prices rose 0.3% in September, mainly due to higher energy and food costs.

Core PPI, which excludes food and energy, increased 2.6% over the past year, the smallest gain since July 2024 and slightly below expectations, Bloomberg reported.

The data suggests that companies are keeping price increases in check despite rising costs, while prices of services stayed mostly unchanged. Economists say the reports may prompt the Federal Reserve to consider another rate cut in December.