The recent Bitcoin selloff reversed last week’s gains, dropping from $92,000 to $85,700 amid $650 million in liquidations. Whale accumulation and ETF inflows initially supported recovery, but Sunday’s sharp decline renewed market concerns.
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Bitcoin fell 6% to $85,700 after a weekly 10% gain, triggered by heavy selling pressure.
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ETH ETFs saw $312 million in inflows, the strongest since October, before the reversal hit broader crypto majors down 6-8%.
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Over $650 million in liquidations occurred, with 90% from long positions, highlighting volatility as BTC tests $80,000 support levels.
Bitcoin selloff reverses crypto gains in December 2025: BTC drops to $85,700 after whale buying and ETF inflows falter. Explore key drivers and market outlook. Stay informed on crypto trends—subscribe for updates.
What Caused the Bitcoin Selloff in Late November 2025?
Bitcoin selloff in late November 2025 stemmed from renewed selling pressure that erased a week’s worth of recovery gains, pushing prices from a high near $92,000 down to $85,700. Initially, large holders known as whales shifted to net accumulation, supported by positive ETF inflows, but a sudden Sunday evening decline triggered over $650 million in market liquidations, primarily from leveraged long positions.
How Did Whale Activity Influence the Crypto Recovery?
Mega-whales holding over 10,000 BTC flipped to net accumulation for the first time since August, with their trend score indicating strong buying interest. The 1,000-10,000 BTC cohort followed suit, marking the end of weeks-long outflows, while retail investors with less than 1 BTC showed the highest accumulation since July. According to on-chain analytics from platforms like Glassnode, this shift correlated with Bitcoin’s 10% weekly rally. However, the momentum reversed abruptly, underscoring the fragility of such accumulations amid broader macroeconomic uncertainties. Ethereum’s ecosystem benefited similarly, with ETH ETFs recording $312 million in net inflows—their best week since October 10—contributing to a temporary stabilization across major cryptocurrencies.
The broader market context reveals a tug-of-war between bullish signals and persistent headwinds. Bitcoin exchange-traded funds (ETFs) saw $70 million in inflows last week, the first positive week since October 24, per data from ETF trackers. This influx helped crypto majors like Bitcoin, Ethereum, BNB, and Solana post gains of around 10% mid-week. Yet, the holiday period’s thin liquidity amplified the impact of the selloff, wiping out progress and leaving BTC at $85,700 as trading resumed.
Market participants are closely watching on-chain metrics for signs of capitulation or renewed support. The liquidation event, totaling over $650 million with $580 million from longs, was one of the largest in recent months, as reported by Coinglass analytics. This has reignited debates among cycle analysts who predict potential dips to $70,000 or lower, echoing patterns from previous halving cycles. Conversely, sustained whale buying could stabilize prices around current levels, preventing further downside.
Frequently Asked Questions
What triggered the $650 million crypto liquidations in November 2025?
The liquidations were primarily driven by Bitcoin’s rapid drop below $86,000 on Sunday evening, catching leveraged traders off guard after a period of recovery. Long positions accounted for 90% of the wipeout, exacerbated by thin holiday trading volumes, according to liquidation data from major exchanges.
Is Bitcoin headed for $80,000 or lower after this selloff?
Bitcoin’s current support at $85,700 could hold if whales continue accumulating, but a break below might lead to $80,000 or sub-$70,000 levels, as suggested by historical cycle patterns. Monitor ETF flows and on-chain activity for near-term direction, with experts like those at CryptoQuant emphasizing whale behavior as a key indicator.
Key Takeaways
- Whale Accumulation Reversal: Large holders briefly supported recovery but couldn’t prevent the selloff, highlighting market sensitivity to sudden shifts.
- ETF Inflows Provide Temporary Boost: $70 million into BTC ETFs and $312 million into ETH ETFs signaled optimism, yet failed to counter liquidation pressures.
- Volatility Ahead: Watch for sustained buying to avoid deeper corrections; investors should prepare for testing key support levels like $80,000.
Conclusion
The Bitcoin selloff in late November 2025 has overshadowed a promising week of whale accumulation and robust ETF inflows, leaving crypto majors like Ethereum and Solana down 6-8% at current levels. As markets digest the $650 million liquidation event, the path forward hinges on whether large holders resume buying to defend $85,700 support. With ongoing developments in stablecoins, prediction markets, and corporate adoption—such as JPMorgan’s new BTC-linked products—investors should stay vigilant. For deeper insights into crypto trends, explore our latest analyses on emerging protocols and token unlocks.
It was a Thanksgiving week of crypto price action to be grateful for—until it wasn’t.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of COINOTAG. Subscribe to the Morning Minute on Substack.
GM! Today’s top news:
- Crypto majors selloff, reverse week of gains; BTC at $85,700
- Tether founder Paolo defends against insolvency concerns (again)
- China’s central bank confirms crypto’s illegal status, signals crackdown
- Saylor teases green dots for first time, raising speculation around BTC selling
- Hyperliquid token unlocks begin, 1.75M distributed across team
📈 📉 Crypto Recovers, Then Reverses
Whale accumulation and ETF inflows had paused the Bitcoin selloff. At least temporarily.
But a Sunday night selloff has renewed worries around market conditions.
📌 What Happened
After weeks of heavy selling pressure, Bitcoin spent the back half of the holiday week doing something it hasn’t done in a while: recovering.
The driver – multiple large BTC holder cohorts flipped from net distribution to net accumulation for the first time in months.
On-chain data showed that the 10,000+ BTC “mega-whale” cohort shifted into positive accumulation territory for the first time since August. Their accumulation-trend score jumped toward the high end of the range, signaling that the biggest balance sheets were finally adding rather than trimming.
Right behind them, the 1,000-10,000 BTC cohort registered a similar flip into net buying after weeks of steady outflows.
And retail holding < 1 BTC showed the strongest accumulation since July.
At the same time, ETF outflows slowed meaningfully and flipped to net inflows.
The BTC ETFs saw $70M in net inflows on the week, the first week of inflows since Oct 24.
Even stronger, the ETH ETFs saw a whopping $312M in net inflows (their strongest since Oct 10).
All resulting in a 10% gain across the board for crypto majors on the week.
Until last night.
Bitcoin fell from a local high near $92,000 all the way through $86,000 in a major Sunday night selloff that led to $650M+ in liquidations.
As the dust settles this morning, BTC is holding at $85,700 and crypto majors are down 6-8% across the board.
Not the start to December that we wanted. And now even Saylor is talking about selling.
What if we start adding green dots? pic.twitter.com/a19bD33KzD
— Michael Saylor (@saylor) November 30, 2025
🧠 Why It Matters
This is a critical time for Bitcoin and crypto.
The 4-year cycle truthers and bears are out in full force, fully expecting this cycle to repeat all of the others, meaning a Bitcoin dip to the $70k range or lower.
And then for most of last week, the bulls finally got some glimmers of hope. Prices stabilized and rebounded. Whales started buying again. ETFs flipped positive.
But then a whole week of progress reversed last night in a few hours.
This week will be very telling about the near-term future for crypto prices.
If the whales keep buying, they can put a bottom in on Bitcoin (and likely the broader crypto sector). And the ETFs will likely follow suit.
Else, we likely revisit the lows around $80k or perhaps go lower.
We will find out soon enough.
🌎 Macro Crypto and Memes
A few Crypto and Web3 headlines that caught my eye:
- Crypto majors are red and reversing all of last week’s gains; BTC -6% at $85,800; ETH -6% at $2,820, BNB -7% at $822, SOL -7% at $127
- MYX (+15%) and JST (+4%) led top movers
- Over $650M was liquidated from the crypto market over the past day, with $580M in longs wiped out after BTC dipped below $86k
- ZEC was hit the hardest of all top tokens, down 20% to $355 and now down 35% on the week
- Tether founder Paolo Ardoino once again spoke out against the latest round of Tether FUD, explaining how Tether is not at risk of insolvency
- China’s central bank confirmed that crypto is illegal and signaled a crackdown incoming
- Robinhood is partnering with Susquehanna to launch a new CFTC-licensed exchange, clearing the way for a big move into prediction markets
- Pavel Durov announced a new decentralized confidential compute network ‘Cocoon’ where GPU owners on the network earn TON rewards
- JPMorgan introduced a new structured BTC bond-like product that pays investors 16% min up to 50% pending BTC performance with some downside protection up to 30%
- Sony Bank is planning to launch a US dollar-pegged stablecoin as early as 2026
In Corporate Treasuries / ETFs
- The BTC ETFs had net inflows of $70M last week, with the ETH ETFs seeing $312M
- The cap on IBIT options was raised to 1M contracts (up from 25k max), now the same as most global equities
- Saylor teased green dots coming this week instead of traditional orange dots, leading to speculation around selling of BTC to buy back MSTR
In Memes / Onchain Movers
- Memecoin leaders are very red down 5-10%; DOGE -9%, Shiba -6%, PEPE -10%, PENGU -10%, BONK -10%, TRUMP -6%, SPX -11%, and FARTCOIN -11%
- No notable onchain movers
💰 Token, Airdrop & Protocol Tracker
Here’s a rundown of major token, protocol and airdrop news from the day:
- Hyperliquid token unlocks began, with 1.75M tokens distributed across team members so far
- MegaETH refunded all the deposits to its pre-deposit bridge
- Jupiter shared that HumidiFi’s WET token will be the first token on new DTF platform, launching December 3
🚚 What is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- NFT leaders were mostly red down 2-7%; Punks +1% at 30.9 ETH, Pudgy -6% at 5.4, BAYC -2% at 5.84 ETH; Hypurr’s -7% at 620 HYPE
- CryptoDickButts (+11%) led notable movers
