Brodigy’s Buzz: Crypto News Stories of November 2025 That Shook the Market
November 2025 marked a significant correction in the crypto market, with over $1 trillion in value erased amid macroeconomic pressures and reduced investor confidence. As of 20 November 2025, the total market cap stands at $3.2–$3.3 trillion, down from October’s $4T levels.
Bitcoin (BTC) fell below $89,000 on 19 November 2025 before recovering to around $92,000, influenced by US economic data and equity market trends. Ethereum (ETH) traded near $3,000 amid ongoing ETF activity. Institutional developments, such as exchange filings and mining sector updates, provided counterpoints to the broader decline.
Here, a curated breakdown of the month’s key stories.
Market Correction Erases Over $1 Trillion in Value
The global crypto market experienced a substantial decline in November, losing $1 trillion from its market capitalisation, bringing it to approximately $3.2 trillion by mid-month. Bitcoin dropped below $89,000 on 19 November, marking the first negative year-to-date performance for the asset. The downturn was linked to US economic indicators and concerns over technology sector valuations, contributing to $3 billion in leveraged liquidations across exchanges. Ether and Solana saw declines of 3–5%, reflecting broader risk-off sentiment in equities.
Bitcoin ETF Outflows Reach $2.3 Billion Mid-Month
US spot Bitcoin ETFs recorded outflows of $2.3 billion by mid-November, the second-highest monthly total of 2025, amid reduced inflows from institutional investors. This marked a reversal from earlier positive flows, with net redemptions accelerating after October’s gains. The trend correlated with Bitcoin’s price correction, causing total ETF assets under management to decline. Analysts attributed November 2025 Bitcoin ETF outflows to profit-taking and macroeconomic uncertainty.
Coinbase Launches ETH-Backed Loans as Onchain Lending Surges Past $1.25B
Coinbase has rolled out ETH-backed loans for most US users, allowing borrowers to access up to $1 million in USDC without selling their ETH. The product runs on Base and is powered by Morpho, extending Coinbase’s push into onchain financial services. Liquidations still apply, and rates vary with market conditions. The move comes as Coinbase’s integrated onchain lending markets surpass $1.25B in loan originations, with $810M in active loans and over 13,500 borrowers. Coinbase also plans to expand the program to support cbETH and potentially other assets.
Kraken Files Confidentially for US IPO
Kraken submitted a confidential filing for an initial public offering in the US, positioning the exchange for a potential valuation of $10–$15 billion. The filing follows similar moves by competitors like Gemini and reflects growing regulatory clarity in the sector. Kraken, which reported projected 2025 revenue of $1.5 billion, plans to expand into derivatives and tokenised assets post-listing. CEO Dave Ripley highlighted the IPO as a step toward broader market access, despite the ongoing price volatility.
1inch Unveils Aqua, a Shared Liquidity Layer to Boost Capital Efficiency in DeFi
1inch has launched Aqua, a new liquidity protocol that allows DeFi apps to draw from the same pool of user capital across multiple strategies without requiring users to lock funds in any contract. Instead, assets stay in the user’s wallet, and strategies only pull liquidity when executing trades. Aqua introduces a “shared liquidity layer”, solving fragmentation by letting the same wallet simultaneously support AMMs, stable swap pools, custom trading logic, and more. Each strategy operates independently, governed by Aqua’s accounting system.
The November sell-off may have dominated headlines, but the story beneath the surface is far more balanced. Prices pulled back sharply, yet institutions continued building, exchanges advanced toward public listings, and DeFi protocols quietly shipped some of their most significant upgrades of the year. The contrast is a reminder that while markets move in cycles, infrastructure moves forward. With macro uncertainty still in play and volatility persisting, the foundations being set today are likely to shape the next leg of the market once sentiment recovers.
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