NewsBTC
Nov 4, 2025
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Crypto Market Drops as Long-Term Holders Sell $44B in Bitcoin

Key Points:

  • The crypto market experienced a sharp downturn in early November, primarily due to long-term holders selling $44B in Bitcoin, while ETFs only saw $4B in inflows.
  • Market sentiment is affected by several events: Samourai Wallet's alleged xpub logging, Iran's crackdown on illegal mining operations, and Stream Finance's $93M loss leading to stablecoin depegging.
  • Despite these challenges, Bitcoin remains above $100K. Historically, November has yielded an average 42.11% return for Bitcoin.
  • The total crypto market cap dropped to $3.46T from $4.3T at the start of October, with Bitcoin down about 6% this week, and Ethereum struggling to maintain $3.5K.

Total crypto market cap graph.

  • Samourai Wallet faces scrutiny after accusations of laundering funds and logging users' xpubs, raising privacy concerns.
  • Iranian authorities dismantled over 100 illegal mining farms, intensifying fears about global mining stability.
  • Stream Finance’s $93M loss caused its stablecoin XUSD to depeg, adding to market uncertainty.

On-chain data suggests some optimism as whales continue accumulating assets through OTC desks, and exchange balances are at multi-year lows. This indicates long-term holders are still confident despite current market hesitation.

  • Investors are showing interest in presale projects like PepeNode ($PEPENODE), which blend DeFi yield mechanics with a gamified virtual mining experience.

Iranian authorities close over 100 Bitcoin mining farms.

Overall, while current conditions are challenging, historical trends suggest potential recovery. Investors are advised to consider presales as a strategic entry point amidst volatility.