Bitcoin Drops 20% in November as Crypto Market Loses $2T

• Bitcoin’s price fell by 20% in November, hitting a 6-month low.
• Stablecoin market capitalization dropped $2 billion amid regulatory concerns.

The cryptocurrency market recorded a sharp decline in November 2025, with Bitcoin’s price dropping nearly 20% and stablecoin market capitalization contracting by $2 billion. According to a November 28, 2025, report by Cointelegraph, this downturn was driven by heightened concerns over potential U.S. Federal Reserve interest rate cuts and fears of a financial bubble in the artificial intelligence sector.

Bitcoin’s value declined from $110,000 to $91,000 during the month, reaching a low of $82,600 on November 21. This development marked the first time Bitcoin traded below $100,000 since May 2025. Cointelegraph noted that this price drop triggered a broader market sell-off, resulting in a loss of nearly $2 trillion in Bitcoin’s market capitalization. Analysts at Deutsche Bank highlighted that the crash was unique due to high levels of institutional participation, evolving regulatory policies, and global macroeconomic challenges.

The stablecoin sector also faced challenges, with its market capitalization decreasing by $2 billion in November. This contraction represented the largest decline since the FTX collapse of November 2022, as regulatory scrutiny and doubts regarding stablecoin stability created uncertainty. Cointelegraph noted that such conditions raised concerns among investors holding these assets.

Despite the downturn, institutional and governmental involvement in Bitcoin increased significantly during the same period. Institutions and governments now collectively control 17% of the total Bitcoin supply. Exchange-traded funds (ETFs) alone hold over 7% of Bitcoin’s supply. Additionally, the number of private and public companies holding Bitcoin in their treasuries has grown to 357, reflecting sustained confidence among large investors.

On the regulatory front, seven countries—including the United States, Spain, Switzerland, and Japan—are currently in the process of revising their cryptocurrency tax policies. Cointelegraph stated that these reforms demonstrate ongoing governmental engagement with the crypto sector. Moreover, Bolivia’s recent decision to permit banks to offer crypto custody and recognize digital currencies as legal tender underscores a progressive shift in crypto adoption worldwide.

Macroeconomic trends also provided further context for the market’s performance. According to Cointelegraph, 17 of the G20 nations reported slowing inflation rates in November. Such trends have historically influenced cryptocurrency adoption, particularly in countries experiencing monetary instability. However, concerns over the sustainability of the AI industry and its potential economic risks added additional pressure to market sentiment.

As of November 28, 2025, at 15:08 UTC, Bitcoin (BTC) is trading at $92,227.34, with a 1.52% increase in 24-hour trading volume, according to CoinMarketCap. Tether (USDT) is valued at $1, experiencing a 0.012% movement in the last 24 hours, while Ethena (USDe) is priced at $0.999, with a 0.012% change during the same period.