The trend is even weaker than what DuoDuo analyzed. The market data is like someone’s hairline, continuously going down. The shorting position for BTC is only 70 dollars away, really no respect. The shorting position for SOL is only 0.02 dollars away. Ether support has been accurately entered! The past is the past, a new trend update is here ~ update.

In November 2025, the core of the crypto world is the continuous big dump in prices and a significant evaporation of market capitalization, compounded by factors such as institutional capital withdrawal and the influence of Fed policies, leading the market into extreme panic, while also accompanied by security issues at DEXs. The following are specific details: 1. Market Price and Liquidation Situation: From November 15 to 16, Bitcoin briefly fell below $94,000, and by the 21st, the decline intensified, dropping over 6% to $87,000, marking a new low since April; Ethereum fell below $3,200, and mainstream tokens like SOL and Cardano also experienced significant declines. As of the 21st, the total market capitalization of cryptocurrencies had evaporated by over $1 trillion from the peak in October to approximately $3.2 trillion. During this period, liquidation waves occurred frequently, with over 225,000 investors liquidated within 24 hours from the 15th to the 16th, amounting to $1.066 billion; on the 21st alone, over 220,000 people were liquidated across the network, with a total liquidation amount of $821 million. 2. Institutional and Giant Movements: Institutional funds have clearly withdrawn, with Bitcoin ETFs experiencing net outflows for five consecutive weeks, totaling $2.6 billion. Since November 12, this has shifted from net inflow to net outflow, with redemptions reaching $870 million on the 13th. The assets of the giants have significantly shrunk, with the Trump family's crypto-related assets down by 30%, and MicroStrategy's stock price has fallen by more than 30% within a month, with its market capitalization now below the value of the Bitcoin it holds. However, Grayscale still insists on a structurally bullish outlook for Bitcoin, stating that its "digital gold" logic remains unchanged, in an attempt to stabilize market confidence. 3. Market sentiment and macro policy impact: On November 13, the cryptocurrency Fear and Greed Index fell to 10, hitting the lowest point since March 2020, remaining in the "extreme fear" range for a long time. This is closely related to Fed policies, with several senior officials expressing concerns about inflation. Expectations for interest rate cuts in December have cooled, and CME's "Fed Watch" shows a 70.2% probability of maintaining the interest rate unchanged that month. The high interest rate expectations have significantly reduced the attractiveness of non-yielding crypto assets, becoming a core reason for the price pullback. 4. Industry security incidents: In November, the decentralized derivatives exchange Hyperliquid suffered a coordinated attack, resulting in a loss of about $5 million from the HLP vault. Earlier this May, the Cetus exchange on the Sui network was attacked by hackers for $200 million, and Balancer has also been attacked multiple times. These security incidents continue to undermine investor confidence in DeFi platforms, further exacerbating market panic. 5. Altcoin Dynamics: Some altcoins have independent market trends, with Zcash's price increasing by 24% before its halving in November, and the market even speculating that its price may reach $1000; Chainlink also launched "Rewards Season 1" on November 11, providing airdrops for LINK stakers to attract market attention. #非农数据超预期 #Gate广场圣诞送温暖

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