Crypto Up Today On one side, there are renewed claims and conversations that JPMorgan Chase has closed accounts linked to Strike CEO Jack Mallers, reigniting long-standing fears about crypto debanking and the power of large banks over crypto businesses. Even though these specific claims about Mallers and JPMorgan are circulating mainly in social and industry discussions, and not yet confirmed by public regulatory filings or mainstream documents, they tap directly into a real pattern of account closures and access issues that crypto firms have faced for years.
After a painful month of selling, Bitcoin has bounced back from lows near 80,000 dollars and is trading around 86,000 to 87,000 dollars on November 24, 2025. Major altcoins like Ethereum, Solana, and XRP are also showing modest gains. The move comes after Bitcoin’s worst weekly loss since February and a drop of about thirty percent from its all-time high above 126,000 dollars set in October.
This article explains why fears about crypto debanking are rising again, who Jack Mallers and Strike are, and most importantly, Why Crypto Is Up Today even as trust in banks is being debated. You will see how macro forces, ETF flows, and investor psychology all intersect with questions about banking access and Bitcoin’s original promise of being “money without permission.”
Who Is Jack Mallers And Why Does His Banking Status Matter?
Jack Mallers is one of the most recognizable figures in the Bitcoin ecosystem. He is an American entrepreneur and software developer, best known as the founder and CEO of Strike, a Bitcoin-based financial services and payments application. Strike uses the Lightning Network to move value across borders more quickly and cheaply than traditional payment rails, while letting users interact in familiar fiat currencies on the surface.
Mallers played a visible role in El Salvador’s adoption of Bitcoin as legal tender, often presenting Bitcoin as a way to modernize payments, lower remittance costs, and offer an alternative to the existing financial system. More recently, he also became CEO of Twenty One Capital, a Bitcoin asset-management company backed by Tether and SoftBank that aims to hold tens of thousands of BTC on its balance sheet as part of a public-market strategy.
Because of this profile, Mallers has become a symbol of Bitcoin-native finance. If a major bank is perceived to be closing his accounts, many people see it not only as a private banking decision but as a broader signal about how willing the traditional system is to work with Bitcoin companies at all. That is why the phrase crypto debanking immediately resurfaces whenever someone like Mallers is said to have banking issues.
What Is “Crypto Debanking” And Why Are People Worried?
The term crypto debanking describes a situation where banks close, freeze, or refuse to open accounts for individuals or businesses tied to digital assets. That can include exchanges, mining farms, trading funds, payment apps like Strike, or even people whose income comes mainly from crypto projects.
Sometimes there are clear compliance reasons. Banks have strict duties under anti-money-laundering and sanctions laws. If a customer triggers repeated red flags or operates in a jurisdiction outside the bank’s risk appetite, debanking can be an extension of normal risk controls.
What worries the crypto community is the less transparent side. Over the last few years, there have been several public cases where JPMorgan and other banks were accused of closing accounts for organizations or individuals involved in controversial or sensitive areas. Examples include the National Committee for Religious Freedom, which said JPMorgan closed its account and sparked a national debate about “political debanking,” and other customers who claim large banks have cut them off based on views or activities rather than clear violations of law.
Bank CEOs, including JPMorgan’s Jamie Dimon, have strongly denied that they close accounts for political or ideological reasons. In congressional testimony and interviews, they insist that any such decisions are driven by regulatory obligations, risk models, and standard compliance procedures, not by a dislike of crypto or particular viewpoints.
However, from a crypto founder’s point of view, the effect is similar either way. Losing your bank accounts can make it hard to pay staff, settle taxes, or move fiat into and out of exchanges. That is why even the perception of crypto debanking is enough to trigger anxiety and fresh interest in self-custody and Bitcoin’s bank-free design.
Why Is Crypto Up Today? Market Snapshot for November 24, 2025
The other big question is why, in the middle of all this tension, crypto is up today. On November 24, 2025, Bitcoin is trading around 86,000 to 87,000 dollars after rebounding from a brief dip near 80,000 dollars. That rebound has lifted the broader crypto market today. Ethereum is modestly higher, Solana has ticked up, and XRP has also posted gains of a couple of percent.
At the same time, analysts at Deutsche Bank remind everyone that Bitcoin is still about thirty-one percent below its October peak of roughly 126,000 dollars and has just logged its worst weekly loss since February. They highlight five headwinds behind the recent slide: weaker global risk sentiment, uncertainty about Federal Reserve rate cuts, stalled regulatory momentum, large institutional outflows from crypto products, and profit-taking by long-term holders. So when we ask Why Is Crypto Up Today, we are not talking about a roaring bull market. We are looking at a meaningful but still fragile bounce inside a bigger corrective phase.
Bitcoin’s Weekend Rebound And Key Levels
Bitcoin’s move over the last few days helps explain why the crypto market today feels more hopeful than it did a week ago. Data from Barron’s and other financial outlets shows that BTC gained nearly four thousand dollars over the weekend, climbing from around 83,000 dollars to above 87,000 dollars before stalling. The level around 80,000 dollars has acted as an important support zone, with several reports warning that a decisive break below that line could open the door to deeper losses and more intense selling pressure.
So far, that line has held. Long-term buyers and opportunistic traders have stepped in around the low 80,000s, helping push the price back up. At the same time, technical indicators tracked by various analytics platforms show that Bitcoin has recently been in oversold territory, with a very low 14-day RSI and an Extreme Fear reading on the Fear and Greed Index.
That combination—important support holding, oversold indicators, and extreme fear—often sets the stage for a short-term move upward as sellers tire out and even cautious investors begin to nibble at lower prices. This mechanical dynamic is a big part of Why Crypto Is Up Today, even if nothing in the underlying economy has dramatically changed overnight.
Macro Winds: Rate-Cut Hopes And A Risk-On Tilt
Crypto does not trade in a vacuum. The macro backdrop has shifted in a way that helps explain why crypto is up today alongside other risk assets. Stock futures and major indices are pointing higher at the start of this holiday-shortened week. Futures for the Dow, S&P 500, and Nasdaq are all up, and investors are increasingly betting that the Federal Reserve will cut interest rates at its December meeting.
Commentary from New York Fed officials has nudged market expectations toward a roughly seventy-five percent probability of a cut. Lower interest rate expectations are usually positive for speculative assets. When cash yields are high, assets like Bitcoin that do not pay interest look less appealing. When traders begin to price in easier policy, money starts flowing back into technology stocks, high-growth names, and digital assets.
On November 24, Bitcoin’s rebound is part of a wider move where crypto-linked stocks such as Coinbase, Marathon Digital, and MicroStrategy are also trading higher in early sessions, riding the same risk-on wave. So one part of Why Is Crypto Up Today is straightforward. The macro environment looks slightly less hostile, and when overall risk appetite improves, Bitcoin and altcoins are often among the first assets to respond.
ETF Flows, Outflows, And A Pause In The Selling
Another piece of the puzzle is fund flow data. In recent weeks, Bitcoin ETFs have faced heavy outflows. Some research notes that spot Bitcoin ETFs lost more than a billion dollars in a single week, including large redemptions from major products such as BlackRock’s IBIT. These outflows were a big contributor to November’s drawdown because they represented institutional investors cutting exposure rather than retail traders alone.
However, the most recent data shows that the pace of outflows may be slowing. For example, after several negative days, Friday saw more than two hundred million dollars in net ETF inflows, hinting that some larger players are once again willing to buy Bitcoin at lower levels.
When outflows ease and occasional inflow days appear, the constant selling pressure that weighed on the market begins to fade. That is another reason crypto is up today. It is not that ETFs suddenly turned wildly bullish, but that they stopped being such a heavy drag on price. In other words, the market is no longer fighting the same intense wall of institutional selling it was battling earlier in the month.
Does Debanking News Push Crypto Prices Higher?
The connection between crypto debanking headlines and short-term price moves is complicated. From a strictly data-driven standpoint, most of today’s bounce in Bitcoin and other coins can be explained by technical factors, macro shifts, and the slowing of ETF outflows. Prices have rebounded from support, risk appetite has improved thanks to rate-cut hopes, and extreme fear readings have moderated a bit.
However, there is also a narrative layer. When stories circulate that a major bank like JPMorgan Chase may have closed accounts linked to a prominent Bitcoin figure such as Jack Mallers, it reinforces one of the oldest arguments for Bitcoin: the idea that your money should not depend on the permission of a bank that can change its mind.
Even without confirmed public documentation of the specific claims, the broader history of contested account closures and testimony about alleged debanking makes the narrative feel credible to many people. That narrative does not always move price immediately. But over time, it shapes how people answer the question Why Is Crypto Up Today in a deeper sense. They may say it is up because more people are gradually choosing a system where they can self-custody assets and move value without fearing that a bank relationship will vanish with a short form letter.
How Crypto Businesses React To Debanking Fears
For companies inside the industry, the threat of crypto debanking is not just a talking point. It drives concrete changes in how they operate. Crypto firms now avoid relying on a single large bank. Instead, they spread their fiat operations across several institutions, sometimes in multiple countries, to reduce the risk that one closure will shut down their entire business. Where possible, they also use specialized payment processors that are more comfortable working with digital asset flows.
At the same time, these companies increasingly lean on crypto-native infrastructure alongside traditional banks. Stablecoins, on-chain settlement, and Bitcoin’s Lightning Network provide alternative rails for moving value. Strike, for example, allows users to send and receive fiat currencies while routing value through Bitcoin under the hood, reducing the need to depend entirely on correspondent banks for every transaction.
In this way, each new debanking scare pushes the ecosystem a little further toward the original vision of a parallel financial system where Bitcoin, stablecoins, and on-chain networks do more of the heavy lifting, and banks become only one part of the overall picture.
Will Today’s Crypto Rally Hold Or Fade?
Even though crypto is up today, there is no guarantee that the move will last. The same data that explains the bounce also highlights the risks. Bitcoin is still roughly thirty percent below its October peak and remains in a broader downtrend on many longer-term charts. Sentiment indicators show that the market is in Extreme Fear, and technical analysis from several outlets points out that key moving averages have rolled over, reflecting the intensity of the November crash.
If upcoming economic data or central-bank commentary disappoints, traders could quickly reassess their expectations for rate cuts. That would hit risk assets, including crypto, and could send Bitcoin back to test the 80,000-dollar level that has become such an important line in the sand.
On the other hand, if macro conditions continue to improve, ETF outflows remain under control, and support levels hold, this week’s bounce could mark the beginning of a more durable stabilization phase. In that scenario, Why Crypto Is Up Today might be the first chapter of a story about the market digesting a brutal correction and building a base for the next big move.
Conclusion
The debate over whether JPMorgan Chase closes Strike CEO Jack Mallers’ accounts sits at the intersection of finance, politics, and technology. It brings renewed attention to crypto debanking, a phenomenon where people fear that access to the legacy banking system depends on opaque decisions that may not always be purely about compliance.
At the same time, the market is giving its own answer to a different but related question: Why Is Crypto Up Today, November 24, 2025? Bitcoin has bounced from near 80,000 dollars to around 87,000 dollars, altcoins are in the green, and risk assets as a whole are benefiting from rising hopes that the Federal Reserve will cut rates in December. ETF outflows have slowed, extreme fear is beginning to ease, and technical support has held for now.
Together, these stories remind us what crypto is really about. It is not only a price chart. It is a tug-of-war between a permissioned financial system and a permissionless alternative, between the comfort of banks and the resilience of self-custody, between macro headwinds and long-term belief.
Nothing in this article is financial advice. But if you are trying to understand Why Crypto Is Up Today, the answer lies in both the numbers on the screen and the deeper question of who controls access to money in the first place.
FAQs
Q: What does “crypto debanking” mean and how is JPMorgan involved?
Crypto debanking refers to banks closing, freezing, or refusing to open accounts for people and businesses connected to digital assets. Over the last few years, JPMorgan and other big banks have been criticized in high-profile cases involving religious groups, political organizations, and customers in controversial sectors, although the banks insist decisions are driven by risk and regulation, not ideology. Claims about specific actions toward Jack Mallers and Strike are part of this broader debate, but so far they have not appeared in public regulatory filings.
Q: Why is crypto up today, November 24, 2025, even after a big crash?
Crypto is up today because several forces have shifted at once. Bitcoin has bounced from important support near 80,000 dollars to around 86,000–87,000 dollars. Macroeconomic sentiment has improved as traders expect the Federal Reserve to cut interest rates in December, which supports risk-on assets. At the same time, heavy ETF outflows have started to slow, and extreme fear readings in sentiment indicators are beginning to ease, enabling a relief rally after weeks of intense selling.
Q: How could debanking fears affect Bitcoin in the long run?
In the short term, debanking controversies mainly affect specific businesses that lose access to accounts. In the long run, they reinforce Bitcoin’s core narrative as a self-custodial, permissionless asset that does not depend on banks to function. Each new story about possible account closures or banking friction encourages some users and companies to hold more BTC directly, adopt stablecoins, or route payments over Bitcoin and Lightning rather than relying solely on traditional banking rails. Over time, this can make Bitcoin’s use case as an alternative financial system more compelling to those who worry about centralized control.
Q: Is today’s crypto rebound a sign that the bear phase is over?
It is too early to say that. Bitcoin remains roughly thirty percent below its October all-time high, and technical and sentiment indicators still point to a cautious, fragile environment. The move we see today looks more like a relief rally after heavy selling than a fully confirmed new uptrend. Whether the bounce turns into something bigger will depend on future macro data, central-bank decisions, ETF flows, and how well key support levels such as 80,000 dollars continue to hold.
Q:How should ordinary investors think about Why Crypto Is Up Today?
For most people, the fact that crypto is up today should be a prompt to understand the drivers rather than an invitation to chase short-term moves. Prices have risen because selling pressure eased, macro expectations improved, and fear reached extreme levels where a bounce was likely. Those conditions can change quickly. Investors who are not traders may be better served by focusing on risk tolerance, diversification, and time horizon, and by recognizing that both debanking headlines and sudden rallies are recurring features of a very volatile asset class rather than once-in-a-lifetime events.
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