Summary of this article
Bitcoin falls 21 per cent in November amid market volatility.
Major cryptocurrencies see losses; ETF outflows and profit booking impact.
Medium-term recovery possible if support holds, macro conditions improve.
Bitcoin experienced a noticeable decline in November that reflects broader movements in the cryptocurrency market. The shift has attracted attention from investors, which shows the fluctuations that have impacted trading in cryptocurrencies in recent weeks. Overall, market activity shows continued volatility in the digital asset space.
Major Cryptocurrencies Continue to Face Losses in November
Bitcoin is currently trading around $86,937, down by 0.07 per cent in the past 24 hours and 4.88 per cent over the week. Since the start of November, when it was around $110,500, Bitcoin has dropped roughly 21 per cent. During the month, it also touched a seven-month low of $80,659, a decline of about 27 per cent, and remained in the red for most days.
It’s not just Bitcoin that has seen losses this month. Ethereum is again struggling to rebound above $3,000 and is currently trading around $2,904, up 0.57 per cent in the past 24 hours, but down 5.10 per cent over the week. During November, it also touched a four-month low of $2,700. Solana started the month at $187 and is now trading around $136, up 0.55 per cent in the last 24 hours. Binance Coin is at $853.11, up 0.10 per cent, after starting above $1,000 in November beginning.
Key Factors Behind Decline
The declines across major crypto market in this month shows a combination of market forces and investor activity. Several factors have contributed to this downward trend that shapes the movements of Bitcoin, Ethereum and other digital assets.
Says Edul Patel, CEO of Mudrex, “Bitcoin’s decline was largely triggered by external factors, including the US government shutdown and liquidity constraints resulting from outflows in exchange-traded funds (ETFs). Additionally, profit booking from short-term holders led to further downside, with Bitcoin taking support at $80,000.”
Vikas Gupta, country manager, Bybit India, says, “Bitcoin’s decline of more than 20 per cent in November reflects a combination of macroeconomic uncertainty and market-specific pressures.
He added that the delay in the expected US interest rate cut has increased the risk-off sentiment among investors. At the same time, Bitcoin breached key technical support levels, triggering automated liquidations, while ETF outflows of around $1.20 billion in a single week significantly reduced buy-side liquidity.
What Lies Ahead For Bitcoin
Patel also noted that the November correction has made investors more cautious but hasn’t altered the broader bullish outlook for crypto. Most selling came from short-term investors, while long-term holders continued accumulating Bitcoin. With improving sentiment and the odds of a US rate cut in December at about 80 per cent, a trend reversal could be expected.
Gupta also highlighted the technical and liquidity factors that could influence Bitcoin’s future outlook.
He added that Bitcoin has strong support in the $88,000-95,000 zone and if ETF outflows stabilise and macro conditions improve, a medium-term recovery is possible with the potential to reclaim previous highs and test the $180,000-200,000 range. He added that a decisive break below major support could trigger further liquidation-driven corrections.
