Bitcoin’s Worst November in Years
The Breakdown2 Des 2025

Bitcoin’s Worst November in Years

November just logged Bitcoin’s ugliest performance since 2018, with a seasonally strong month instead turning into a mini crypto winter driven by thin liquidity, excess leverage, and global macro jitters from Japan to the Fed. This episode digs into what really caused the drawdown, whether the pain is flushing out the froth ahead of a healthier 2026, and how to think about the latest macro correlations—plus a fresh round of Tether FUD, new clarity from MicroStrategy on what would actually make them sell, and a mysterious Bitcoin move from SpaceX. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Episoder(2054)

The Five Most Important Stories This Week

The Five Most Important Stories This Week

NLW and Scott Melker cover why this may be the first baby bear market in our new tradfi integrated paradigm. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watc...

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[CORRECT] Fed Minutes Slam the Door on Rate Cuts—Bitcoin Hits New Lows

[CORRECT] Fed Minutes Slam the Door on Rate Cuts—Bitcoin Hits New Lows

The latest Fed minutes show a deeply divided committee but a clear signal: no December rate cut is coming. Markets reacted fast, sending Bitcoin tumbling to new lows as leveraged traders piled in and ...

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Bitcoin’s Bottom Watch Begins

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The Bitcoin Bears Are Back In Town

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The crypto market is facing a renewed period of intense fear as Bitcoin turned red on the year, briefly dropping below $93,000 amid a 10% weekly drawdown and the Fear & Greed Index hitting extreme low...

18 Nov 202512min

The Week Crypto Moved Forward While Prices Fell Behind

The Week Crypto Moved Forward While Prices Fell Behind

Extreme fear grips the market and Bitcoin dips into the mid-$90Ks, but the real story is everything happening underneath the sell-off. This Friday 5 breaks down the heavy wallet distribution, the liqu...

17 Nov 202523min

What the End of the Shutdown Really Means for Crypto

What the End of the Shutdown Really Means for Crypto

NLW looks at what the end of the 43-day government shutdown means for crypto, from the CFTC finally moving toward a confirmed chair and opening the door to regulated spot markets, to the SEC racing to...

14 Nov 202511min

Did the US Steal $13 Billion in Bitcoin? China Says Yes

Did the US Steal $13 Billion in Bitcoin? China Says Yes

China is accusing the US of hacking a major Bitcoin mining pool in 2020 and stealing 127,000 BTC—now worth more than $13 billion. NLW breaks down the origins of the Labuyan hack, why the coins later a...

13 Nov 202511min

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