Bitcoin Heads for Worst Month Since 2022 Crypto Collapse
Bitcoin is on track for its most severe monthly decline since the catastrophic crypto market crash of 2022, according to Bloomberg. The world’s leading cryptocurrency has shed about 23% of its value in November 2025, marking its largest monthly drop since June 2022 and signaling a dramatic reversal from the bullish momentum seen earlier in the year.
Record Highs to Sharp Declines
Just weeks ago, Bitcoin soared to record highs above $126,000 in early October, fueled by favorable regulatory developments and strong retail and institutional interest. However, the euphoria quickly faded as macroeconomic headwinds, technical breakdowns, and a wave of leveraged liquidations triggered a steep sell-off.
By mid-November, Bitcoin had plunged below $90,000 for the first time since April, erasing all of its 2025 gains. The drop was triggered by a so-called “death cross” on the charts, stalled inflows into Bitcoin ETFs, and rising inflation concerns that dampened hopes for imminent Federal Reserve rate cuts.
Market Impact and Liquidations
The November rout has been marked by massive liquidations across the crypto derivatives market. On November 3 alone, over $463 million in leveraged positions were wiped out as more than 173,000 traders were liquidated. The broader crypto market has also suffered, with major altcoins like Ethereum, XRP, Solana, and Binance Coin experiencing steep declines.
According to CryptoQuant, a leading digital asset research firm, “Bitcoin market conditions are the most bearish they have been since the current bull cycle started in January 2023.” The firm added that “we are highly likely to have seen most of this cycle’s demand wave pass.”
Macro and Technical Factors
The downturn has been exacerbated by a confluence of macroeconomic and technical factors. Hot inflation data released in late November dashed hopes for a December rate cut, while Nvidia’s disappointing earnings triggered a broader tech sell-off. Algorithmic trading and stop-loss cascades have further accelerated the decline, with Bitcoin grinding down through key support levels.
ETF outflows have also intensified, reflecting waning institutional appetite. The “death cross” — a technical indicator where the 50-day moving average falls below the 200-day moving average — has attracted algorithmic short-selling and deepened the bearish sentiment.
Broader Market Fallout
The impact of Bitcoin’s decline has rippled beyond the crypto sector. Shares of MicroStrategy, a major corporate holder of Bitcoin, have fallen to one-year lows. High-flying tech stocks have also tumbled, and market volatility has spiked as investors reassess risk exposure.
What’s Next for Bitcoin?
Analysts remain divided on Bitcoin’s near-term outlook. While some see the current selloff as a healthy correction after a period of excessive speculation, others warn that the market may have entered a prolonged bear phase. Historical patterns suggest that November can be a volatile month for Bitcoin, but the severity of this year’s decline is unprecedented in recent memory.
Investors are advised to closely monitor on-chain metrics, macroeconomic developments, and global events as the year draws to a close. The coming weeks will be critical in determining whether Bitcoin can stage a recovery or if further downside lies ahead.
As the crypto market navigates this turbulent period, the lessons from the 2022 collapse remain fresh in the minds of investors and regulators alike. The resilience of Bitcoin and the broader digital asset ecosystem will be tested in the months ahead.