Coinglass data noted that the Bitcoin price had significantly underperformed compared to previous Novembers.
Bitcoin’s November return currently stands at -6.55%, according to Coinglass data. This performance is well below BTC’s average November return of +42.49% since 2013.
Data shows that November has historically been a strong month for Bitcoin. In eight of the last twelve years, Bitcoin has seen a November rally, while in only four years has it experienced a decline. The median November return during this period was calculated at +8.81%.
In contrast, November 2025 performance remains in negative territory, deviating from the historical trend. Market analysts believe this weak performance is due to uncertainty surrounding the Fed’s interest rate policy, the US government shutdown, and early-stage selling by some Bitcoin whales.
November 2024 was also quite strong, with Bitcoin returning +37.29%. The year before, in November 2023, a more moderate but still positive close was seen at +8.81%. Meanwhile, November 2022 closed with a -16.23% drop, November 2021 with a -7.11% drop, and November 2019 with a -17.27% drop. The sharpest November declines were recorded in 2018 with a -36.57% drop.
There were also quieter years within this period. November 2016, November 2015, and November 2014, which finished with a +5.42% increase, +19.27%, and +12.82%, are among the examples where November performance was closer to the historical average.
