Bitcoin closed November 2025 down by 16.7%, marking its weakest November performance since 2019 and prompting reassessment of near-term momentum.

Ethereum declined by more than 21% in the same month, reflecting broader selling pressure across major crypto assets globally.

Monthly performance

Across the month, intraday volatility increased while trading volumes showed episodic spikes around macroeconomic announcements and liquidations of leveraged positions.

The reported 16.7% drop for Bitcoin and the over 21% fall for Ethereum are based on aggregated exchange data and documented monthly closes.

Historical pattern

Historically, months with significant November declines have sometimes been followed by continued weakness in December, suggesting short-term momentum can persist across year end.

Market participants often cite positioning, tax flows, and rebalancing as factors that may amplify year-end price moves without guaranteeing direction.

Market context

Observers note that broad risk-off episodes in macro markets tend to coincide with sharper cryptocurrency drawdowns, but causality and magnitude vary across episodes.

Analysts emphasize that past seasonal tendencies are not deterministic and recommend monitoring liquidity, on-chain activity, and macro headlines for evolving signals.