$BTC As of late November 2025, the cryptocurrency market is showing the following key dynamics:

1. Market and Volatility

- Bitcoin (BTC) is currently priced at approximately $111,000, with a 24-hour increase of about 1.2% and a daily trading volume reaching $28.1 billion, maintaining its position as the market leader with ample liquidity.

- Ethereum (ETH) is reported at about $3,976, with a 24-hour increase of 2.3% and a daily trading volume of $16.3 billion, showing relatively stable performance.

- The annual volatility for 2025 has reached a near five-year high, with altcoins experiencing an average amplitude of 50% in the third quarter, and market sentiment lingering in the “extreme fear” zone.

2. Macroeconomics and Policy

- The Federal Reserve maintained a hawkish stance in the third quarter of 2025, with a high-interest rate environment causing the cryptocurrency sector to overall decline by about 15%, as funds flowed out of risk assets toward treasury bonds and other risk-free income tools.

- After the Trump administration took office, it proposed a “strategic Bitcoin reserve” plan and appointed pro-crypto officials, boosting market optimism, but tariffs and fiscal stimulus could raise inflation, complicating the outlook for monetary policy.

- The current U.S. Congress is referred to as the “most pro-crypto in history,” with the market generally expecting a more favorable regulatory framework to be introduced before 2026.

3. Stablecoins and ETFs

- Citibank pointed out that the continued expansion of stablecoins, the capital-raising ability of spot ETFs, and the increase in institutional allocation ratios will become important supporting factors for cryptocurrency prices in 2025.

- Market observation: If the macro environment maintains high interest rates, ETF inflows may slow; if interest rate cut expectations rise in 2026, funds are expected to flow back in.

4. Regional Regulatory Progress

- The Central Bank of Ghana plans to submit a cryptocurrency regulatory bill to Parliament in September, aiming to issue licenses to trading platforms in order to regulate the market and attract foreign investment.

- In the United States, the White House has allowed 401(k) plans to invest in cryptocurrencies, with large private equity firms like Blackstone expected to further dominate institutional fund allocation.

5. On-Chain Data Highlights

- The number of active addresses on the Dash network surged by 150% in 2025, with daily transaction volume increasing by 268%, and market capitalization rising to $1.03 billion, indicating that some public chain ecosystems are still expanding rapidly.