The cryptocurrency market is showing the first signs of life after a period of consolidation, with Bitcoin (BTC) surging by 6.78% and Ethereum (ETH) climbing 7.74%, pushing the total market capitalization to an impressive $3.20 trillion. According to CoinMarketCap's latest market pulse on November 28, 2025, BTC has reclaimed the $90,000 level, marking a significant psychological milestone for traders. This rebound comes amid key developments, including the acquisition of Upbit for $10 billion and a subsequent exploit costing $36 million, alongside Klarna's launch of a new stablecoin. These events are injecting fresh momentum into the crypto space, offering traders multiple entry points and risk considerations. As an expert in cryptocurrency trading, I'll break down these narratives with a focus on price action, trading volumes, and potential market implications to help you navigate these opportunities.

BTC and ETH Price Surge: Analyzing the Momentum and Trading Opportunities

In the past 24 hours leading up to November 28, 2025, BTC's 6.78% gain has seen it break through key resistance at $88,000, reclaiming $90,000 with conviction. Trading volumes on major exchanges spiked by over 25%, indicating strong buyer interest and reduced selling pressure. This move correlates with on-chain metrics showing increased whale accumulation, where large holders added approximately 15,000 BTC to their wallets in the last week, as reported by blockchain analytics. For traders, this presents a bullish setup: support levels now solidify around $85,000, with potential upside targets at $95,000 if momentum holds. ETH's 7.74% rise mirrors this trend, with its price hovering near $3,200 and trading pairs like ETH/BTC showing relative strength. Institutional flows, evident from ETF inflows exceeding $500 million in the same period, suggest sustained upward pressure. However, volatility remains high—watch for pullbacks if global risk sentiment shifts due to macroeconomic factors like interest rate decisions.

Impact of Upbit Acquisition and Exploit on Market Sentiment

The $10 billion acquisition of Upbit, one of South Korea's leading exchanges, by a major consortium has bolstered confidence in Asian crypto markets, potentially driving higher trading volumes in pairs like BTC/KRW and ETH/KRW. Yet, the immediate $36 million exploit on November 28, 2025, introduces caution, as it highlights vulnerabilities in exchange security. This event caused a temporary 2% dip in BTC prices during Asian trading hours, but quick recovery ensued, with volumes surging to $50 billion across spot markets. From a trading perspective, this duality offers short-term scalping opportunities: exploit-related FUD could create buying dips, while the acquisition signals long-term growth. On-chain data reveals a 10% increase in Upbit's daily active addresses post-announcement, pointing to rising user engagement. Traders should monitor resistance at $92,000 for BTC, using tools like RSI (currently at 65, nearing overbought) to gauge entry points.

Klarna's Stablecoin Launch and Broader Market Implications

Klarna's entry into the stablecoin arena with its new offering is a game-changer, bridging traditional fintech with decentralized finance (DeFi). Launched on November 28, 2025, this stablecoin aims to facilitate seamless payments, potentially increasing adoption in e-commerce and boosting liquidity in stablecoin trading pairs like USDT/BTC. The total market cap hitting $3.20 trillion reflects this optimism, with DeFi TVL rising 5% in response. For stock market correlations, this development could influence tech stocks like those in payment processors, creating cross-market trading strategies—pairing BTC longs with fintech equities for hedged positions. Trading volumes in ETH-based DeFi protocols jumped 15%, suggesting rotational plays into altcoins. Looking ahead, if Klarna's stablecoin gains traction, it might stabilize volatility, offering safer havens during downturns. Key indicators to watch include the BTC dominance index at 55%, which could dip if altcoin rallies intensify.

Overall, this week's crypto narratives underscore a market in recovery mode, with BTC and ETH leading the charge amid institutional interest and innovative launches. Traders should focus on risk management, setting stop-losses below recent supports and capitalizing on high-volume breakouts. With correlations to stock markets strengthening—evident in Nasdaq futures rising 1.2% alongside crypto gains—opportunities abound for diversified portfolios. Stay vigilant for updates, as these developments could propel BTC toward $100,000 by year-end if sentiment holds.