Bitcoin spent the week stabilizing after November’s sharp pullback, with price rebounding from the low $80Ks back toward the $90K region by November 27. The recovery follows a roughly 20% monthly decline from all-time highs and one of Bitcoin’s weakest Novembers since 2018. Sentiment has shifted toward the possibility of a local bottom as volatility compresses and derivatives data signals an inflection point in positioning.
Ethereum continued to lag Bitcoin, sliding early in the week before finding a modest bounce from the high $2.7K area to around $3K. Despite the relief move, ETH remains below key moving averages and trapped in a broader bearish channel. Analysts view the current upswing as corrective, with meaningful downside risk unless buyers can reclaim resistance zones in the upper-$3K range.
Stablecoins showed an important structural shift, with the aggregate market cap on pace for its first monthly decline in over two years. Even so, stablecoin dominance is rising, which reflects rotation into lower-volatility assets rather than a drop in overall usage. Tether’s USDT continues to expand its market share, while USDC and newer entrants like Ethena’s USDe face noticeable outflows, accelerating consolidation toward the strongest issuers.
Altcoins and DeFi posted a mixed but slightly positive performance, with sectors such as RWAs, DeFi protocols, meme coins, and Layer 1s recording modest gains. CeFi tokens and certain Layer 2 ecosystems underperformed, and liquidity across the board remains thinner. With several altcoins facing event-driven catalysts in the final days of November, idiosyncratic volatility could pick up, though the entire complex remains highly sensitive to renewed Bitcoin-led moves in either direction.
