Bitcoin is heading for its worst November since 2019
According to fresh data from Coinglass, Bitcoin is on track to record its weakest November performance in five years. The month has been marked by steady declines, reflecting fading momentum following strong rallies earlier in 2025.
Historically, negative Novembers are relatively rare for Bitcoin, but when they do occur, they often signal deeper short-term weakness.
Every red November has historically been followed by a red December
One of the notable patterns highlighted by analysts is that, in Bitcoin’s price history, every instance of a red November has been followed by a red December. While past performance never guarantees future results, the pattern adds weight to concerns of continued downside pressure heading into the final month of the year.
Traders are now paying attention to whether this recurring seasonal trend will repeat or whether Bitcoin will break the pattern for the first time.
What’s driving the weakness this month
Market analysts point to several factors contributing to Bitcoin’s underperformance:
– Lower liquidity in global markets heading into year-end
– Persistent outflows from crypto ETFs
– Strength in commodities such as silver drawing capital away
– Reduced risk appetite amid macro uncertainty
These elements have collectively slowed momentum and added pressure to BTC’s short-term market structure.
How traders are positioning for December
As November comes to an end, traders are watching:
– Whether Bitcoin can reclaim key support levels
– ETF flow trends
– The next Federal Reserve communication
– Changes in macro liquidity
– Risk sentiment across equities and crypto
If Bitcoin stabilizes and breaks its seasonal pattern, December could become a consolidation month rather than a continuation of the decline. If not, historical models suggest further downside is possible.
