Crypto Market Crash: Why is Crypto Down Today?

November 2025 is generally a cold month for the global crypto market, with an overall negative sentiment. Most of the major cryptocurrencies, including Bitcoin, have seen a sharp decline in price with a generally bearish sentiment. Several macroeconomic indicators, the overall fragility of the market, and the shifting investor sentiments are contributing to this decline in crypto prices. 

Current Status of the Global Crypto Market 

Bitcoin has dropped by 30% from its October peak level of over $126,000 to below $90,000 in November, erasing all the progress it had made throughout 2025, marking its lowest level since early in the year. The asset’s total liquidations in the last 24 hours exceeded $500 million due to forced selling and leveraged position liquidations

Ethereum is down around 3% over the past week, trading near $3,236, while other altcoins like Solana have fallen about 12%. The total market capitalization of the global crypto market has dropped to around $3.26 trillion, signaling a widespread decline in the price and value of other altcoins. 

The Fear and Greed index is 10 with “extreme fear”. This shows that investors are looking for risk aversion. Several macroeconomic factors, such as a lower likelihood of a Federal rate cut, the hawkish Federal Reserve stance, escalating global trade tensions, and thin liquidity in crypto markets, will make the market more fragile and volatile. 

The major cryptocurrencies that lost value over the last 24 hours include Monero (XMR) dropped by approximately 3.59%.

• Litecoin (LTC) declined by around 3.58%.
• Ethereum (ETH) fell by about 2.34%.
• Binance Coin (BNB) decreased by close to 2.97%.
• Polkadot (DOT) dropped by roughly 2.32%.
• Ethereum Classic (ETC) dropped about 2.72%.

Crypto Market Crash: Reasons

Due to heavy market liquidations, cryptocurrencies worth over $ 600 million have been wiped off the market. With a thin order book, even the lowest valued sell order will result in high fluctuations in the market.

The overall investment sentiment is “Extremely Fear”, with it being 10. Moreover, there is a negative institutional flow with  U.S.-listed Bitcoin spot ETFs, reporting $278 million as a single-day outflow. Thinner liquidity, decreased order book depth, and deleveraging have worsened the market stability. 

Top Liquidations and Largest Exchanges Affected

In the last 24 hours, liquidation worth $530 million occurred, with Bitcoin leading at $188 million in liquidations, followed by Ethereum at $160 million, Solana at $21 million, and XRP at $13 million. Major exchanges like Hyperliquid and Bybit are closing over $130 million in long-term. 

Even though Binance saw a high volume of liquidations, Hyperliquid, Bybit, and HTX exchanges have been the most severely impacted. In short, the strongest cryptocurrencies, such as Bitcoin, and the biggest exchanges affected include Binance, Hyperliquid, Bybit, and HTX.

The Bottom Line

The cryptocurrency market is highly volatile, and several factors influence its outlook. As it is highly unstable and subject to constant change, the future is uncertain. This phase is difficult for short-term investors, while long-term investors can accumulate currencies by leveraging the ongoing volatility.

Also Read: XRP Price Prediction: Is a Bullish Turn Coming?