Bitcoin dropped below $90,000 on November 17, marking its first time trading beneath this level since April. The decline pushed the average spot ETF investor into unrealized losses, with the flow-weighted cost basis across all ETF inflows standing at approximately $89,600, data show. The cryptocurrency now trades more than 30% below its record high above $126,000 reached in early October.

Dutch central bank governor Olaf Sleijpen has warned that the $300 billion stablecoin market may require European Central Bank monetary policy adjustments if growth continues at current rates. The market has expanded over 48% this year following new U.S. regulations. Euro-pegged stablecoins represent only 0.18% of global circulation compared to dollar tokens' 99.58% dominance, according to DefiLama data.

The Scaramucci family has invested more than $100 million in American Bitcoin, a Bitcoin mining and treasury company cofounded by Eric Trump and supported by Donald Trump Jr. The investment was made through Solari Capital, an investment firm founded by AJ Scaramucci, which led a $220 million funding round completed in July. The move demonstrates how Bitcoin is creating common ground between former political adversaries, as Anthony Scaramucci previously served as White House communications director and later became a vocal Trump critic.

Harvard University expanded its Bitcoin exchange-traded fund holdings by 257% in the third quarter, reaching 6.8 million shares valued at $442.8 million as of September 30. The iShares Bitcoin Trust now constitutes the endowment's largest disclosed position, making Harvard the 16th-largest holder of the BlackRock-managed fund, according to its latest 13F filing.

XRP declined 5% following the November 13 debut of Canary Capital's ETF, which attracted $245 million in day-one inflows and surpassed Bitwise's Solana ETF as 2025's largest launch. The token traded near support levels between $2.25 and $2.40 as analysts maintained bullish targets above $4 contingent on market recovery.

Tether has deployed approximately $1.5 billion in commodity trade financing across oil, cotton, wheat, and agricultural markets. CEO Paolo Ardoino announced on November 14 the company's plan to expand lending operations using both U.S. dollars and USDT. The initiative is backed by nearly $200 billion in reserves including U.S. Treasury bills and gold.

Short-term Bitcoin holders transferred 29,400 BTC to exchanges at a loss while long-term holders distributed approximately 815,000 BTC over the past month, marking the highest level since January 2024. Data show long-term holder profit-taking has increased from roughly 12,500 BTC daily in early July to 26,500 BTC currently. Bitcoin is testing its 365-day moving average at $102,000, a key technical support level throughout this bull cycle.

Coinbase has challenged banking associations seeking to broaden the GENIUS Act's interest prohibition to cover merchant discounts and third-party rewards linked to stablecoin payments. Chief Policy Officer Faryar Shirzad said on November 13, 2025, that Congress intended the Act to ban only issuer-paid interest, not benefits from external parties. The American Bankers Association and 52 state groups had urged Treasury on November 4, 2025, to treat any economic benefit tied to stablecoin holdings as prohibited interest.

Canary Capital launched the first U.S. spot XRP exchange-traded fund under ticker XRPC on November 13, 2025. The fund recorded $26 million in trading volume within its first 30 minutes, according to Bloomberg ETF analyst Eric Balchunas. XRP rose 3% to $2.40 following the debut, while daily trading volume for the token reached $6.24 billion.