Fri Nov 21 11:00:00 UTC 2025: Here’s a news article summarizing the Bloomberg report:
Bitcoin Plunges Toward Worst Month Since 2022 Crypto Crisis
London – Bitcoin is experiencing a significant downturn, on track for its worst monthly performance since the widespread crypto market collapses of 2022. The leading cryptocurrency slid as much as 6.4% on Friday to $81,629 before slightly recovering to $84,166 as of 7:42 a.m. in London, according to Bloomberg data. Ether also saw a steep decline, falling as much as 7.6% to below $2,700.
November has seen Bitcoin shed approximately 23% of its value, marking its steepest monthly drop since the tumultuous period following the TerraUSD stablecoin implosion in May 2022, which triggered a domino effect of corporate failures, including the collapse of Sam Bankman-Fried’s FTX exchange.
The recent downturn follows a massive liquidation event on October 10th, wiping out $19 billion in leveraged token bets and erasing roughly $1.5 trillion from the overall cryptocurrency market capitalization. Selling pressure intensified, resulting in an additional $2 billion in leveraged positions being liquidated in the past 24 hours, according to CoinGlass data.
Institutional investors appear hesitant to buy the dip. US-listed Bitcoin exchange-traded funds (ETFs) experienced $903 million in net outflows on Thursday, the second-largest single-day redemption since their debut in January 2024. Open interest in perpetual futures has also fallen 35% from its October peak.
Pratik Kala, portfolio manager at Apollo Crypto, noted a “forced seller in the market” with unclear depths. Analyst Tony Sycamore of IG Australia suggests the market might be testing MicroStrategy’s “pain threshold,” warning that a further price slide could trigger margin calls on the company’s leveraged Bitcoin holdings.
Adding to the market woes, US stocks, which had previously rallied, surrendered gains amid concerns over valuations and doubts about a Federal Reserve rate cut in December.
First Piper 