Bitcoin Plummets 23% in November, Pulling Crypto Market Below $3T
The cryptocurrency market is witnessing its most severe monthly decline of 2025. Bitcoin has plunged roughly 23% in November, causing the total crypto market cap to fall below $3 trillion for the first time since April.
Bitcoin reached a low of $81,000 on Friday before bouncing back to approximately $84,166. This represents its most significant monthly drop since the crypto crash of June 2022. Despite the pro-crypto stance of the incoming Trump administration and robust institutional adoption throughout 2025, Bitcoin has now dropped more than 30% from its early-October record high.
The downturn gained momentum following a massive liquidation event on October 10 that wiped out $19 billion in leveraged positions. This event also erased roughly $1.5 trillion from the combined value of all cryptocurrencies.
Institutional sentiment mirrors this caution. US-listed Bitcoin ETFs recorded a record $3.79 billion in outflows this month, surpassing the previous high in February. BlackRock’s IBIT alone saw more than $2 billion in redemptions.
The pressure reflects not only weak technical momentum in crypto but also a broader aversion to risky assets. This is due to turbulence in tech stocks, rising interest-rate risks, and regulatory uncertainty surrounding cryptocurrencies.