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Bitcoin dropped 21% in November amid market volatility, but remains above 2024 levels due to institutional demand.
Bitcoin’s recent price drop, including a 21.2% decline in November and 23.2% loss over three months, is normal market volatility seen across asset classes, Binance CEO Richard Teng said in Sydney on November 21, 2025.
He attributed the sell-off to investor deleveraging and risk aversion, citing concerns over an AI-driven valuation bubble.
Despite the downturn, Bitcoin remains above double its 2024 level, supported by growing institutional interest and products from firms like BlackRock.
Teng called the correction a healthy pause for the industry.
He did not confirm if founder Changpeng Zhao, pardoned by President Trump in October, will return, noting current operations continue under existing leadership.
Bitcoin cayó un 21% en noviembre en medio de la volatilidad del mercado, pero permanece por encima de los niveles de 2024 debido a la demanda institucional.