November Sees Bitcoin's Second Worst Monthly Decline in 2025

Bitcoin is set to conclude November with a substantial downturn, marking its second-worst monthly performance this year with a 17.28% decrease. This decline follows closely behind February’s 17.39% drop, according to data from CoinGlass.

Key Takeaways

Bitcoin is facing its second-worst monthly performance of 2025, with a 17.28% decline in November.
The downturn follows significant market instability linked to economic events and shifts in institutional investment.
Bitcoin's price dipped below $80,000 before recovering to approximately $90,773.
Factors contributing to this decline include increased tariffs, a US government shutdown, and significant institutional outflows from Bitcoin ETFs.

Remarkably, this month's downturn signifies the largest drop for Bitcoin in November since 2022, when it experienced a 16.23% loss.

Reasons for November's Bitcoin Price Decline

According to data from BeInCrypto, Bitcoin commenced November at around $110,000 after a tumultuous October that reached a record peak of $126,000 but concurrently wiped out about $20 billion in market capitalization.

The selloff started on October 10, when former President Donald Trump announced increased tariffs on China, leading investors to reevaluate risks across global markets.

This financial instability continued into November, further worsened by an unprecedented US government shutdown that tightened liquidity in traditional markets.

In addition to these macroeconomic factors, Bitcoin also experienced a decline in institutional investment. Data from SoSo Value indicates that Bitcoin exchange-traded funds (ETFs) saw significant outflows of $3.48 billion in November, marking the second-largest monthly outflow since launching in 2024.

US Bitcoin ETFs Monthly Flows Since Launch. Source: SoSo Value

This trend of asset outflow first appeared in the latter half of October and intensified in November as global markets reacted to prevailing macroeconomic challenges, diminishing one of the asset's most dependable demand sources.

Simultaneously, short-term investor capitulation amplified market stresses. According to Glassnode, the realized losses for short-term holders surged, with the seven-day exponential moving average (EMA) rising to $427 million daily, the highest level since November 2022.

The panic selling was notably prevalent, surpassing loss levels recorded during the previous two significant lows of the current cycle.

Glassnode Panic Selling Data

During this period, Bitcoin experienced substantial panic selling, causing losses akin to those seen at previous critical lows in the cycle.

The data indicates that this recent decline in Bitcoin's value was largely driven by reactive selling rather than intentional long-term distribution.

As a result of these combined factors, Bitcoin's price briefly plunged to a seven-month low, falling below $80,000. However, it managed to rebound to $90,773 at the time of this report. This price movement illustrates the effects of external pressures as well as underlying structural strains within the cryptocurrency market.