During the period from November 24 to 30, 2025, the cryptocurrency market experienced mixed dynamics with signs of recovery amid macroeconomic expectations, significant token unlocks, and regulatory shifts. Below is a detailed overview of key events reflecting price fluctuations, technological updates, and global trends.
Market and Price Dynamics
The crypto market concluded the week with moderate growth after initial volatility. Bitcoin (BTC) traded in the $90,155–$91,632 range, closing around $91,421 with a 0.98% daily increase, reflecting expectations of a US Federal Reserve rate cut with an 86.4% probability in December. Ethereum (ETH) rose 0.21% to $3,007, XRP gained 0.68% to $2,193, while Solana (SOL) remained nearly unchanged ($136.65, -0.04%). Total market capitalization reached $3.1 trillion with 2.4% growth, led by LSK (+24%), ALCX (+16%), and QNT (+14%).
The week began with a rally on Fed rate cut expectations (85% probability): BTC recovered to $87,000 (+1.67%), ETH surpassed $2,900 (+2.1%), XRP jumped 11%, while PayFi, Meme, DeFi, and Layer 1–2 sectors showed broad gains. However, on November 25, liquidations reached $344 million (+57%) and open interest grew 1.28% to $129 billion, signaling instability. By November 30, spot BTC ETFs interrupted a four-week outflow streak, recording $70 million inflows, indicating potential bottom formation.
Regulatory Events
S&P Global downgraded Tether (USDT) stablecoin rating to "5 (weak)"—due to increasing risky assets in reserves (Bitcoin, gold, loans, corporate bonds) and gaps in counterparty and bank disclosure information. The stablecoin market contracted for the first time in two years: capitalization fell 1.48% to $303 billion (-$4.54 billion), with USDT maintaining 60.9% dominance ($184 billion, +0.56%), but USDC (-2.71% to $73.5 billion) and Ethena USDe (-22.5% to $7.39 billion) declined. CEX trading volumes reached $1.48 trillion but decreased month-over-month.
Switzerland launched consultations for new licenses covering stablecoin issuers and crypto institutions (custody, trading, staking) with reserve backing and asset protection requirements. Australia introduced a digital asset bill to prevent past failures, while Ripple's RLUSD received UAE approval for regulated operations. The FSB warned about gaps in global crypto regulation.
Technology and Token Unlocks
The week featured major unlocks totaling $566 million:
- November 25: Plasma (XPL) — 88.89 million tokens ($17.53 million, 4.74% circulating supply, price -22.1% weekly)
- November 28: JUP — 53.47 million ($13 million)
- November 29: Hyperliquid (HYPE) — 9.92 million ($327 million, 2.66%, price -16.7%, pressure risks amid weak demand)
- November 30: OP — 31.34 million ($9 million)
These events increased volatility, particularly for declining assets.
Ethereum developers are preparing the Fusaka upgrade—the second in 2025 for L2 chain traffic processing. BlackRock's BTC ETF became the most profitable product with assets approaching $100 billion. Hackers stole $71 million in November (annual total $1.48 billion).
Investments and Infrastructure
Blockchain venture funding (DeFi, Web3, AI, infrastructure) remains active: the weekly report highlighted key deals for November 24–30. ETH ETFs surpassed $2.5 billion, with ETH projected toward $3,500. Nasdaq prioritizes SEC approval for stock tokenization; CME experienced a data center outage (>10 hours). Kazakhstan's central bank is considering cryptoasset investments.
Conclusion
The week of November 24–30, 2025, highlighted market resilience: growth on Fed expectations and ETF inflows compensated for unlock risks and Tether downgrades, but stablecoins and regulatory gaps remain vulnerabilities. For beginners, the key lesson is monitoring macroeconomics, unlocks, and regulations: volatility remains high, but bottom signs (ETF inflows, LSK/QNT rallies) hint at potential rebound toward $100K for BTC if Fed policy eases. Long-term growth will be supported by upgrades like Fusaka and global licensing, strengthening crypto-finance integration.