- Bitcoin experienced a significant drop in November 2025 due to U.S. session sell-offs.
- Major contributors were ETF outflows and long-term holder distribution.
- BTC’s performance marked one of the weakest quarters since 2018.
Bitcoin faced one of its weakest Novembers since 2018, primarily driven by U.S. trading session sell-offs and significant ETF/ETP outflows.
The substantial losses emphasize investors’ cautious sentiment, highlighting declining liquidity and risk appetite across markets.
Bitcoin’s November 2025 drawdown was marked by significant selling pressure during U.S. trading sessions. The sell-off was characterized by ETF/ETP outflows and long-term holder distribution, contributing to one of Bitcoin’s weakest quarterly outcomes since 2018.
Major institutional players involved include VanEck and Grayscale, who provided deep insight into market movements. Their analysis details how U.S. trading hours significantly impacted Bitcoin’s price, with approximately 85% of losses attributed to these sessions. Matthew Sigel, Head of Digital Assets Research at VanEck, stated, “Crypto investors felt like they were tossed through a washing machine in November, as relentless selling pressure shook coins loose from weaker hands.” – VanEck Crypto Monthly Recap November 2025
Bitcoin’s market performance reflected a severe reduction in liquidity and risk appetite, with prices falling by 17.5% in November. Institutional actions during U.S. hours were pivotal, concentrating losses and indicating broad risk-off sentiment across the crypto sector.
Financial implications include an evident decrease in ETF/ETP flows and long-term holder distribution pointing to strategic shifts among investors. The market structure changes suggest a cautious climate, with digital asset treasuries trading at a discount to NAV, representing subdued speculation.
The drop in Bitcoin’s value highlights a significant shift in market dynamics, necessitating careful analysis of trading patterns. Institutional research outlines structural changes contributing to declining liquidity, further compounded by reduced speculative activity during the period.
Potential outcomes include impacts on regulatory scrutiny and technological adaptation, with historical trends suggesting a similar path seen during past large-scale sell-offs. This environment calls for increased observation and adaptation in trading strategies moving forward.
