Red November 2025 or Just the "Great Purge"?

November 4, 2025 - a date that will go down in crypto history as one of the most turbulent days of the year. The total market capitalization dropped 6.58% in 24 hours, wiping out $250 billion in value. Bitcoin (BTC) fell below $100,000 for the first time in 180 days, currently trading at $100,333 (-5.35% in 24 hours, -10% over two days). Ethereum (ETH) is down -10% over the day, and against the backdrop of the broader market crash, this looks like a continuation of bearish pressure. The Fear & Greed Index plunged to 21 - the "extreme fear" zone where investors flee to stablecoins, while trading volume surged 26.95% to $257 billion. Is this the start of a bear market, or a classic "shakeout" before the next bull run? Let’s break it down.

From Euphoria to Panic

The market entered November with high hopes - historically, it’s BTC’s strongest month with an average gain of +42%. But reality hit hard: BTC dropped from $110,000 at the start of the month to $104,000–$105,000, and total market cap fell to $3.31 trillion. BTC dominance rose to 60.43% (+0.22%), signaling capital rotation into "safe" assets. Stablecoin volume hit $251 billion (97.67% of total), while DeFi volume stood at $28 billion (10.89%). This is a textbook picture: traders de-risking, institutions sitting on the sidelines.According to CoinMarketCap, the top 10 coins show mixed daily performance: most are up over 24 hours, but weekly declines couldn’t save the market from $1.3 billion in liquidations (mostly longs).

Analysts from CryptoQuant and Santiment note:

“October’s rally has run out of steam, and profit-taking + a strong dollar (DXY) are pressuring risk assets”

Testing the $100K Fortress

But there are bullish signals too: over 50,000 BTC withdrawn from exchanges, miners posting record revenues, and Trump officially ending “Biden’s war on crypto.” Historically, November delivers +42% for BTC, and analysts (Tom Lee) forecast $150–200K by year-end.Key level: $100K - if it breaks lower, next test at $95K; if it bounces, target $115K.

Today’s dump isn’t the end - it’s a purge of weak hands. As @bncryptoworld said on X:

“HODLers will outperform traders”

Buy the dip in BTC/ETH, diversify into privacy coins and RWA, ignore the noise. Crypto isn’t for the faint of heart - but it’s the greatest financial revolution in history. Stay strong, HODL with conviction - and November could still be yours.