November crypto market review and hot topic analysis TL,DR
In November 2025, the United States faced a government shutdown that resulted in missing key economic data. Coupled with weak employment, declining consumption, and unclear policy direction, market expectations fluctuated repeatedly, leading to a divergence between economic growth and inflation signals. Although external risks have eased somewhat, the overall recovery remains moderate, with an increased reliance on policy transparency, data recovery, and market confidence.
In November, the average daily trading volume of the cryptocurrency market was approximately $180.8 billion, showing characteristics of short-term activity with frequent inflows and outflows of funds but lacking a sustained trend. During the same period, the total market capitalization fell from about $3.88 trillion to a low of $2.98 trillion, with several brief rebounds failing to reverse the overall downward trend. Newly launched popular tokens such as Monad, Pieverse, and Allora were actively traded, but the activity level of meme-type projects was relatively low.
In November, BTC spot ETF saw a significant net outflow of 35.8 billion USD, ETH current
PANews·2025-12-01 03:07