Crypto Market Review Updates for November 2025: Price & Sentiment

2025-11-25

The crypto market had another volatile week, with prices swinging sharply as traders reacted to shifting macroeconomic signals, especially around expectations of a U.S. interest rate cut.

Even though the market has been in decline for several weeks, new data suggests a potential recovery could be forming.

Here’s a full review of the most important developments in the crypto market from November 17–24, 2025. Read this article to find out more!

Crypto Market Performance in November 2025

Market Review (1).webp

Last week, Bitcoin (BTC) and the broader crypto market moved almost entirely in sync with global macroeconomic news. The biggest catalyst? Expectations around whether the Federal Reserve will cut interest rates in December.

On November 20, the Fed released minutes from its October meeting. The language was considered hawkish, which immediately pushed market sentiment downward.

Many traders started believing that a December rate cut wasn’t happening at all, with expectations sinking to just 22%. This triggered a sharp sell-off, sending Bitcoin down as much as 13% in two days, hitting a weekly low of $80,600.

But the trend flipped fast. On November 21, Fed official John Williams, known historically as a policy hawk, made unexpectedly dovish statements. This was a major shock to the market and completely reversed expectations for a December cut.

According to the latest probability data, there is now a 69.3% chance the Fed will cut rates by 25 basis points in December.

Bitcoin (BTC) Price Fluctuates

The chart above highlights how closely BTC price moved with interest rate sentiment. As soon as expectations flipped upward, BTC rebounded sharply. The market remains extremely sensitive to every macro signal right now.

A few additional liquidity indicators shaped market outlook:

Hawkish/Dovish Influence of Fed Officials

Current Fed officials vary significantly in influence and stance, with Powell and Williams at the top. Cook’s vote may be the “tie-breaker” that determines the December decision.

Japan Government Bond (JGB) Yields Hit 1.78%

The 10-year Japanese government bond yield has climbed to its highest level of the year. If the yen keeps strengthening, it could trigger an unwinding of the $350B–$1T yen carry trade, tightening global dollar liquidity and pressuring risk assets, including crypto.

TGA (Treasury General Account) Liquidity Still Tight

Even after the U.S. government shutdown ended, the TGA balance remains high, meaning fiscal liquidity hasn’t yet entered the market.

Market Sentiment Remains in Extreme Fear

Last week marked seven straight days of extreme fear across the crypto market. After BTC’s brief plunge to $80,600, sentiment improved slightly, but the Fear & Greed Index is still deeply in the “fear” zone.

The last time the market stayed in extreme fear this long was during the FTX collapse in 2022, when fear persisted for two full months.

Market Data Week-Over-Week

Here are the market data, week-over-week:

ETF Flows

BTC ETFs → $1.218B outflow (+9.5% WoW)

ETH ETFs → $500M outflow (–31.3% WoW)

Exchange Balances

BTC exchange balance ↓ 1.3%

ETH exchange balance ↓ 1.76%

Stablecoin Market Cap

Total stablecoin capitalization → $264.82B (–0.1% WoW)

Overall, the market is showing signs of investor hesitation, but not panic.

Local Hotspots in the Crypto Market

1. Altcoin Movements

While the overall market struggled, some tokens showed extreme volatility:

ZEC → –18%

STRK → –31%

HYPE → –18%

PUMP → –26%

TNSR → +250% (peaked at +800% intraday)

One major catalyst was the Tensor Foundation’s acquisition of Tensor Marketplace and the burning of 22% of TNSR supply, which helped push prices higher.

2. New Meme Token: “jesse”

Base co-founder Jesse launched a token named “jesse” on the Zora platform.

Market cap peak: $30M

Current market cap: $13M

Early buyers saw 2–3x gains before the pullback.

3. Derivatives Market Cooling Down

Altcoin contract open interest and volume dropped across major platforms, indicating reduced risk appetite.

4. Key News Highlights

Here are some notable headlines:

- Fed’s Williams hints rate cuts may come soon

- MSCI may remove digital-asset-heavy companies from its indices

- Several Wall Street firms dumped $5.38B in Strategy shares.

- Franklin Templeton’s XRP ETF (XRPZ) approved for NYSE Arca.

- U.S. “Bitcoin for America” bill proposes strategic BTC reserves.

- Mt.Gox moves 10,608 BTC ($954M).

- Launch of the new jesse token.

Conclusion

The crypto market review updates in November 2025 continues to be driven primarily by expectations around a potential Federal Reserve rate cut.

A dramatic shift from hawkish to dovish sentiment last week sparked a rebound, but overall market confidence remains fragile. Despite prolonged fear, some sectors, especially select altcoins, still show pockets of strong momentum.

Investors should continue watching macro indicators, especially JGB yields, ETF flows, and Fed communications. As December’s rate decision approaches, volatility is likely to remain elevated.

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FAQ

What caused crypto prices to fall last week?

A hawkish release of Fed meeting minutes lowered expectations for a December rate cut, triggering a sell-off across crypto.

Why did expectations reverse so quickly?

A surprising dovish comment from Fed official John Williams shifted market sentiment almost instantly, pushing expectations back above 69%.

Is a crypto market recovery likely soon?

If the Fed signals a rate cut and global liquidity stabilizes, a short-term recovery is very possible.

Why is the Japanese bond yield important for crypto?

Rising JGB yields may unwind yen carry trades, which could reduce dollar liquidity and negatively impact risk assets like crypto.

Which altcoin performed best last week?

TNSR was the standout, surging more than 250% in a week due to major token burns and ecosystem developments.

Disclaimer: The content of this article does not constitute financial or investment advice.

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