Bitcoin's cumulative return for November 2025 stands at -6.55% as of early November, according to Coinglass data, marking a stark deviation from its historical average November return of +42.49% since 2013. This performance is notably weaker, as November has historically been a strong month for Bitcoin, with positive returns in eight of the last twelve years and a median return of +8.81% over that period.
In contrast, recent years like November 2024 saw a +37.29% gain, while November 2023 closed at +8.81%. However, negative returns were recorded in November 2022 (-16.23%), 2021 (-7.11%), 2019 (-17.27%), and the sharpest decline in 2018 at -36.57%. Analysts attribute the 2025 downturn to uncertainty surrounding the Fed's interest rate policy, the US government shutdown, and early-stage selling by Bitcoin whales, highlighting broader market volatility.