Crypto Market Update: Bitcoin Records Weakest Monthly Performance Since 2022
By Meagen Seatter and Giann Liguid | November 21, 2025
The cryptocurrency market is experiencing significant headwinds as Bitcoin logs its most challenging monthly performance since the 2022 crypto crash. As of the morning of November 21, 2025 (9:00 a.m. UTC), Bitcoin’s price plummeted to around $83,590.70, down 10.4% over the past 24 hours, marking a continuation of a broad market downturn.
Bitcoin’s Steep Decline
Bitcoin prices dipped to a daily low of $81,868.75 before slightly recovering, but the overall trajectory remains bearish. The digital asset has declined roughly 23% for November alone — its steepest monthly slide since June 2022. This drop follows Bitcoin’s early-October peak near record highs, from which it has now fallen more than 30%.
Market analysts attribute the sell-off to a major liquidation event on October 10 that wiped out $19 billion in leveraged positions, profoundly impacting the valuations across the entire crypto market. Following this, the combined cryptocurrency market capitalization has contracted by approximately $1.2 trillion in just six weeks. As of now, total crypto asset values have slipped back below $3 trillion, with Bitcoin’s fall mirrored across other top cryptocurrencies.
Ethereum and Altcoins Also Falter
Ethereum, the second-largest cryptocurrency, mirrors Bitcoin’s downward trend, with a 24-hour drop of 11.2%, priced at approximately $2,736.63. Similarly, altcoins like XRP and Solana experienced declines of 12.2% and 13%, respectively, trading near $1.94 and $128. The broader market sentiment has turned increasingly cautious, as reflected by the Crypto Fear & Greed Index falling sharply to 11 — a level categorized as “extreme fear” and the lowest since late 2022. This heightened fear has been fueled by recent large liquidations involving crypto whales, including a wallet last active in 2011 that offloaded more than $1.3 billion worth of Bitcoin in late October.
Institutional Withdrawal and Market Pressures
Institutional investors have become notably cautious amid the turmoil. US-listed Bitcoin ETFs recorded record outflows this month, totaling $3.79 billion—a historic high surpassing the previous peak observed in February. BlackRock’s Bitcoin ETF alone witnessed redemptions exceeding $2 billion.
Adding to market anxiety are the cautious forecasts surrounding Federal Reserve policy. Current CME FedWatch data indicates only a 37.6% probability of a 25-basis-point rate cut in December, with more than 62% expecting no changes. This sentiment shift was also echoed by prediction markets such as Polymarket.
Impact of Broader Market Conditions
Equity markets have compounded cryptocurrency woes, as a notable pullback in US stocks—a nearly 4% decline in the S&P 500 on Thursday alone—erased over $2.7 trillion in market value. These developments triggered risk-off sentiment among investors, further pressuring digital assets. Bitcoin briefly dipped into the $85,000 range amid these equity sell-offs, and daily crypto liquidations surpassed $800 million.
New Lending Service from Coinbase
In a contrasting development, Coinbase has introduced a new lending feature allowing eligible US users to borrow up to $1 million in USDC by using Ether (ETH) as collateral. Powered by the Morpho protocol on Base, this service enables borrowers to maintain ETH exposure while accessing liquidity without selling their holdings. The loan product is available across most US states except New York, reflecting ongoing regulatory complexities.
Market Outlook
After a promising start to the final quarter of 2025, the cryptocurrency market has encountered a notable setback, with Bitcoin’s November performance underscoring increased volatility and risk aversion among investors. As institutional flows retreat and macroeconomic uncertainties loom, market participants remain vigilant.
For ongoing updates on Bitcoin, Ethereum, and altcoins, follow @INN_Technology on Twitter and stay tuned to Investing News Network’s cryptocurrency coverage.
Authors’ Disclosures: Meagen Seatter and Giann Liguid hold no direct investment interests in any companies mentioned in this article.
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