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The crypto market cooled in November: volume hit a six-month low, and ETF funds experienced a large withdrawal.

DAOplomacy

2025-12-01 04:20:17

The crypto market in November can be aptly described with the words “quiet.”

The monthly trading volume of centralized exchanges has plummeted to $1.59 trillion, a decrease of 26.7% from October—this is the worst performance in half a year. Even the exchange that firmly holds the top position saw its trading volume drop from $810.4 billion in October to $599.3 billion, a loss of over $200 billion. Decentralized exchanges have not escaped either, with trading volume sliding to $397.7 billion.

The shift in market sentiment is reflected in the price: Bitcoin has dropped from a high near $110,000 at the beginning of the month to $86,500 by the end. A more direct signal is the US Bitcoin spot ETF, which saw a net outflow of $3.48 billion in a single month, the largest scale of fund withdrawal since February this year.

Trading volume shrinks, prices adjust, and capital escapes—three signals appear simultaneously, indicating that the market is clearly undergoing a cooling period.

BTC-7.24%

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SchrodingerProfit

· 11h ago

Wow, is November this bad? The volume has directly slumped by 50%, and the large investors have all run away, this is going to be a disaster.

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PumpAnalyst

· 11h ago

A 26.7% fall, this is the rhythm of the market maker's whipsaw, the suckers have all been played for suckers. But to be honest, the support level looks quite stable now, maybe the bottom is right here [思考] --- ETF withdrawal of 3.48 billion? I knew the institutions were fleeing, while the retail investors are still chasing the price, it's hilarious. --- Volume has slumped by 50%, what is this if not a bottom formation? Everyone, do a good job with risk control, don't fall for the market maker's tricks. --- After this wave in November, who still dares to say there is no cycle? I've said it long ago, the technicals have already broken, now it's too late to regret. --- I really don't understand, every time there's a big dump, someone rushes in, isn't this just digging a hole for themselves? Brothers, wake up. --- Being bearish is being bearish, but this rebound is coming, trust my analysis. --- 86,500 dollars, the support level is right here, if it breaks, then goodbye.

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Ser_APY_2000

· 11h ago

The Cut Loss drama has started again, November has really become the season for harvesting suckers.

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ChainSherlockGirl

· 11h ago

According to my analysis, Large Investors' Wallets should have run away a long time ago. With such a cut in volume, it shows that retail investors are starting to panic, right? When the ETF had a net outflow of 3.48 billion, I knew this wave was doomed. Now it's just a matter of who can hold on until the end, haha. On-chain data shows that behind this "massive capital migration" in November, large funds must be quietly laying out something. I am tracking it. BTC fell from 110,000 to 86,500. The rhythm of this wave is too strong. Personally, I suspect that someone is accumulating. Wait, I need to check the movements of the exchange's Cold Wallet addresses... to be continued. It's really crazy that the volume is at a six-month low and they still dare to say the market has no issues. A 26.7% shrinkage rate is not a small number. Even the leading exchanges couldn't hold on. That's the most interesting part. Risk warning: The above is purely personal interpretation and does not constitute investment advice.

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LiquidityOracle

· 11h ago

The Be Played for Suckers has started again. Every time this kind of data comes out, someone wants to buy the dip, and the result is that they are trapped again.

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YieldWhisperer

· 11h ago

nah hold up, those etf outflows aren't the real story here... look at the actual wallet movements during that dump, classic institutional panic exit pattern i've seen since 2017. tvl numbers always get inflated anyway when volume contracts like this, artificially masking the real liquidity crisis underneath

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GasFeePhobia

· 11h ago

The rhythm of being played for suckers has started again, I really can't hold on any longer.

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