BTC down 5.2% to $86.8k after that Thanksgiving crash wiped out the $90k bounce. November was brutal—Bitcoin dropped $18k total and saw major ETF outflows. Ether fell 6% to $2.84k, down 22% for the month. The whole sector lost over $1 trillion from its $4.3T peak.
Weekend liquidations were nasty: $637M in futures positions got crushed as momentum traders unwound. Bitcoin hit an intraday low of $85.7k, extending monthly losses past 21%.
Meanwhile, Tether's having a rough week after S&P downgraded USDT's peg stability, citing weak reserves and outsized Bitcoin holdings. CEO Ardoino fired back calling it "traditional finance propaganda."
One bright spot: Japan's moving toward a flat 20% tax on crypto gains (replacing the brutal 50%+ progressive rate). Could bring traders back to domestic exchanges in 2026.
Altcoins got dragged down too—XRP -7.1%, SOL -6.9%.
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Crypto markets getting hammered right now 📉
BTC down 5.2% to $86.8k after that Thanksgiving crash wiped out the $90k bounce. November was brutal—Bitcoin dropped $18k total and saw major ETF outflows. Ether fell 6% to $2.84k, down 22% for the month. The whole sector lost over $1 trillion from its $4.3T peak.
Weekend liquidations were nasty: $637M in futures positions got crushed as momentum traders unwound. Bitcoin hit an intraday low of $85.7k, extending monthly losses past 21%.
Meanwhile, Tether's having a rough week after S&P downgraded USDT's peg stability, citing weak reserves and outsized Bitcoin holdings. CEO Ardoino fired back calling it "traditional finance propaganda."
One bright spot: Japan's moving toward a flat 20% tax on crypto gains (replacing the brutal 50%+ progressive rate). Could bring traders back to domestic exchanges in 2026.
Altcoins got dragged down too—XRP -7.1%, SOL -6.9%.