Crypto’s 2025 Meltdown: Worse Than FTX? 🚨

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By November 2025, the cryptocurrency market had shed over $1.3 trillion in value, a hemorrhage that would make even the most jaded of financiers weep into their caviar. Bitcoin, that once-golden goose, plummeted from $126,000 to below $85,000 in a mere fortnight-proof that even digital dreams can be snuffed out by the cold, unyielding hand of reality. 🐍

But lo! What of the FTX-driven apocalypse of 2022, that grand carnival of chaos? Did it not leave the digital asset realm quivering in its boots, a shattered mirage of trust? 🧠

The Cataclysm of Market Capitalization and Price Declines

Analysts, those modern-day soothsayers, now squabble over whether this year’s tempest is a more venomous serpent than the FTX-induced deluge. On paper, the numbers are as grand as a Russian novel-yet in practice, it’s but a tempest in a teacup compared to the systemic deluge of yore. 🌩️

Between October and November 2025, crypto’s total market cap wobbled like a drunkard, collapsing 30% from $4.2 trillion to under $3 trillion. Bitcoin, that fickle lover, shed 32%-a heartbreak akin to a lover’s betrayal. Ethereum, ever the tragic hero, lost over 40%. Yet these numbers, though grim, pale beside the 2022 cataclysm. 📉

After FTX’s grand exit, the market plunged 73% from its 2021 zenith. Bitcoin, once a titan, slumped to $15,500, a mere shadow of its former self. Ethereum, that once-bright star, fell below $900-proof that even the brightest can be extinguished by greed. 🌌

Liquidations and the Dance of Panic

Liquidations in 2025 reached heights previously reserved for the most absurd of operas. Over $19 billion in leveraged positions vanished in a single day-tenfold the horror of 2022. Yet, in 2022, the chaos was a full-blown tragedy, with FTX, Celsius, Voyager, and 3AC collapsing like houses of cards. 🏗️

Though 2025’s liquidations were fierce, they were but a skirmish, not a war. The market, resilient as a phoenix, endured. 🦅

165,000 Bitcoin taken off Coinbase over the weekend!
Cause TBD. But the last comparable plunge was just after FTX collapsed. Bitcoin was $16K
– Charles Edwards (@caprioleio) November 24, 2025

Institutional Shudders and Public Frenzy

The FTX collapse, that masterstroke of betrayal, shattered trust like a glass vase dropped from a skyscraper. Core Scientific, that once-mighty titan, filed for bankruptcy. Crypto lenders, those ephemeral specters, vanished into the ether. Public companies like MicroStrategy and Coinbase, once golden, lost 80% of their value. 🪦

By contrast, the 2025 crash saw no such grandeur of ruin. ETFs, those fragile creatures, suffered outflows of $3.7 billion but endured. MicroStrategy, ever the optimist, even added to its holdings-a gesture of defiance against despair. 🤝

Sentiment and the Macro Menagerie

Both eras brimmed with fear, yet 2025’s was a mere whisper compared to the thunder of 2022. In 2022, billions of customer assets vanished, leaving a void deeper than the Mariana Trench. Institutional investors froze, regulators launched global crusades, and the world held its breath. 🌍

This month, investors pulled back but did not flee. ETF outflows were orderly, hedge funds hedged with precision, and regulators, though uncertain, did not descend into chaos. 🧭

The Crypto Spring Is Compressed. Window Is Closing…

Yes, the cycle has been difficult…

Even people who’ve been through multiple cycles start questioning everything.

But then you zoom out:

– Realized losses now match FTX collapse levels

– QT ending in days after harshest…

– Dan Gambardello (@dangambardello) November 24, 2025

The FTX Collapse: The Unchallenged Monarch of Crypto Bear Markets

The 2025 crash, though sharp, was but a fleeting shadow. It erased a trillion dollars and triggered record liquidations, yet the market structure, like a well-constructed novel, held. 📖

The 2022 collapse, however, was a saga of depth, duration, and systemic decay. It devoured fragile firms, froze customer assets, and nearly shattered institutional trust. A true tragedy, not a mere misstep. 🎭

Thus, while November 2025’s crash is a painful chapter, it is not the masterwork of despair that the FTX-era collapse was. A high-stakes correction, not a foundational crisis. 🧩

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2025-11-25 04:20