Crypto Market Loses Trillions: Who's Hit the Hardest
Date: 2025-11-21 Author: Gabriel Deangelo Categories: BUSINESS
In November, Bitcoin (BTC) fell to a seven-month low, reaching $88,500. Since its peak of $126,000, the leading cryptocurrency has lost approximately 27% of its value in a month, and the overall market has lost over $1 trillion in capitalization. By 5:20 PM Moscow time on November 20, BTC had recovered slightly to $92,000, up 0.6% in a day. However, on a monthly basis, the market remains in the red.
The crypto market's peak capitalization was recorded on October 6 at $4.3 trillion, and it has currently fallen below $3.2 trillion. The market has yet to recover from the October crash, when cascading liquidations on exchanges resulted in the closure of leveraged positions worth over $19 billion. In April of this year, BTC hit a yearly low of $74,400, and a further 20% decline could push the current low even further.
Bloomberg analysts note that Bitcoin's growth this year was driven by expectations of a Federal Reserve interest rate cut and institutional investor interest. Both factors have now faded, but experts remain cautiously optimistic. Bitwise Chief Investment Officer Matthew Hougan believes the market is nearing the end of its sell-off, but further declines are still possible before stabilizing.
Ethereum (ETH), which reached $5,000 at the end of August, has fallen below $3,000 again, losing 24% in a month. Among the top 10 cryptocurrencies, Cardano (ADA) and Solana (SOL) are the worst performers, declining 29% and 25%, respectively. SOL, which peaked at $300 in January, is currently trading around $140, having lost more than half its value.
Among the top 100 cryptocurrencies, Story (IP), SPX6900 (SPX), and Pudgy Penguins (PENG) have seen the largest losses, declining by 50%, 45%, and 43%, respectively. Only 18 coins have shown growth over the past month, with Zcash (ZEC) leading the gains, up 150%.
Despite the negative trend, experts believe the current sell-off may end soon, and the market will gradually find support for a price recovery. However, the high volatility of cryptocurrencies continues to pose significant risks for investors.
