2025 November Crypto Crash: Less Severe Than FTX Era, Analysis Shows

As per Bitjie.com, the November 2025 crypto market crash saw over $1.3 trillion in market value wiped out, with Bitcoin dropping from $126,000 to below $85,000 within weeks. Analysts are debating whether this downturn is more damaging than the 2022 FTX-triggered crash. The total crypto market value fell by about 30% between October and November 2025, reaching under $3 trillion. Bitcoin lost nearly 32% in value, while Ethereum dropped over 40%. In contrast, the 2022 crash saw the market fall 73% from its 2021 peak, with Bitcoin hitting $15,500 and Ethereum falling below $900. The 2025 crash saw record liquidations, with over $19 billion in leveraged positions wiped out in a single day in October—ten times the worst single-day loss in 2022. However, unlike 2022, the 2025 crash did not trigger widespread platform bankruptcies. The 2022 FTX collapse led to a chain reaction of bankruptcies, including Celsius, Voyager, and 3AC, and severely damaged trust in the industry. In 2025, while ETFs saw record outflows, companies like MicroStrategy continued to buy more Bitcoin, showing market confidence. Despite the pain, the 2025 crash was more of a sharp correction than a systemic crisis, unlike the FTX era, which caused long-term damage to the financial system and investor trust.