Bitcoin fell approximately 18% throughout November, trading below $91,000 as the month neared its close. The decline represents one of the steepest November losses in recent years, approaching the 17% drop recorded in November 2019, according to CoinGlass. Some analysts view the pullback as a market reset that has eliminated overleveraged positions.

Bitcoin may reach a new record high following derivatives market developments and accumulation by major holders. Nasdaq filed to raise BlackRock's IBIT options limit from 25,000 to 1 million contracts, a roughly 40-fold increase aimed at easing institutional participation barriers. Large holders have resumed buying while exchange infrastructure expands to accommodate increased demand.

Thailand has implemented a zero percent personal income tax on cryptocurrency capital gains for trades conducted through Securities and Exchange Commission of Thailand (SEC)-licensed platforms, according to Ministerial Regulation No. 399. The exemption runs from January 1, 2025 through December 31, 2029, covering profits from selling or transferring digital assets including Bitcoin on approved domestic exchanges, brokers, or dealers. The policy aims to encourage traders to use regulated platforms and enhance transaction transparency.

Bitcoin's implied volatility has climbed toward 60% over the past two months, marking a shift after remaining subdued since US Bitcoin ETF approval, according to analyst Jeff Park. Options market activity may be amplifying price movements as traders rapidly adjust positions. Bitcoin fell below $85,000 on Thursday, triggering widespread liquidations and increased selling pressure across leveraged trades.

Bitcoin has dropped to its lowest level in several months amid structural capital outflows from the market, according to NYDIG research. The firm's analysis shows spot ETF flows reversed in early October, digital asset treasury premiums declined, and stablecoin supply contracted. These indicators point to systemic liquidity withdrawal rather than panic-driven selling.

Grayscale Investments will launch spot ETFs for Dogecoin and XRP on NYSE Arca on November 24, 2025, trading as GDOG and GXRP. The products convert existing private trusts into publicly traded funds, enabling retail and institutional investors to access both cryptocurrencies through traditional brokerage accounts. Regulatory filings with the US Securities and Exchange Commission confirm the listings.

Bitcoin fell below $90,000 this week for the first time in seven months. Data show over 102,000 transactions exceeding $100,000 and approximately 29,000 transactions above $1 million were recorded, according to Santiment. Addresses holding at least 1,000 BTC rose to 1,384 from 1,354 three weeks earlier, while wallets with one BTC or less declined to about 977,420 from 980,577 in late October.

Bitcoin fell approximately 15% over the past week, declining below $100,000 and $95,000 to trade around $90,300 on Wednesday. Strategy acquired 8,178 BTC for $835.6 million at roughly $102,171 per coin during the downturn. Approximately 40% of the firm's total 649,870 BTC holdings now show unrealized losses, according to CryptoQuant analysis.

President Donald Trump on Friday endorsed a Senate proposal authorizing tariffs up to 500% on imports from countries purchasing Russian energy. The measure targets oil, natural gas, petroleum products, and uranium from major buyers including India and China. Cryptocurrency markets saw $620 million in liquidations across 24 hours following the announcement, with Bitcoin declining 1% in immediate trading.