Bitcoin is trading at $87,305 after dropping 20.60% during November, according to data from CoinMarketCap. This performance marks a sharp departure from the cryptocurrency’s historical patterns.
November has traditionally been Bitcoin’s strongest performing month. The month typically delivers average returns of 40.82% based on historical data from CoinGlass.
LOOK AT THE DATA. NOT THE FEAR:
OCTOBER WAS RED. SENTIMENT IS DEAD.
BUT NOVEMBER HAS BEEN BITCOIN’S STRONGEST MONTH
WITH AN AVERAGE RETURN OF +42.5%.LOW SENTIMENT. BULLISH SEASONALITY.
THE PERFECT SETUP.MARKETS DON’T REWARD EMOTION.
THEY REWARD PATIENCE AND POSITIONING. pic.twitter.com/uWemVrLdeG— Merlijn The Trader (@MerlijnTrader) November 3, 2025
October also failed to meet expectations. The month closed down 3.69% despite usually posting average gains of around 19.92%.
Bitfinex analysts addressed the unusual market conditions in a Tuesday report. “In the current quarter, historic seasonality metrics have failed to hold up,” they stated.
The price decline has pushed Bitcoin below a key technical level. This marks only the third time since early 2024 that Bitcoin’s price has fallen below the lower band of the short-term holders’ cost-basis model.
Short-term holders are defined as investors who have held Bitcoin for less than 155 days. According to CoinGlass, these holders have an average realized price of $86,787.
Bitfinex analysts pointed to unusual buying patterns as a factor in the recent price drop. Trading activity around the $106,000 and $118,000 price levels was heavier than typical market conditions.
These buyers are now experiencing losses. A deeper layer of holders is “capitulating at a loss,” according to the Bitfinex report.
The market now stands at a crossroads. Bitfinex analysts outlined two possible scenarios for Bitcoin’s near-term direction.
The first path involves a resurgence in demand. The second option would see the market enter a longer and potentially deeper accumulation phase.
Some early indicators suggest demand may be returning among large holders. Crypto sentiment platform Santiment reported wallet data in a Tuesday post on X.
The number of wallets holding at least 100 Bitcoin has risen by +0.47% (91 wallets) since November 11th. Meanwhile, small wallets (especially 0.1 $BTC or less) have been shrinking in number. Retail capitulation will generally play out well for crypto prices in the long run. pic.twitter.com/I0C6EV24QV
— Santiment (@santimentfeed) November 25, 2025
The number of wallets holding at least 100 Bitcoin has increased by 0.47% since November 11. This represents an addition of 91 wallets in the whale category.
Bitcoin recovered modestly after dropping near $80,000 last week. The cryptocurrency now hovers around $88,000 but remains in a rangebound pattern.
Market participants are monitoring U.S. Federal Reserve policy decisions. Softer economic data has increased expectations for a December interest rate cut.
Speculation about potential Fed leadership changes has also entered market discussions. Reports suggest Kevin Hassett, a close adviser to Donald Trump, could be nominated as the next Fed chair.
The Commodity Futures Trading Commission announced a new “CEO Innovation Council” on Tuesday. Acting Chair Caroline D. Pham is seeking nominations for the council, which will provide guidance on digital-asset regulation and stablecoins. Nominations are due by December 8.
December historically shows quieter performance for Bitcoin. The month has posted average returns of 4.75% since 2013.
The post Bitcoin (BTC) Price: November Losses Break Historical Trend as Whale Activity Shows Early Recovery Signs appeared first on CoinCentral.
