Strategy founder Michael Saylor rejected the argument that stablecoins compete with Bitcoin after ARK Invest CEO Cathie Wood revised her 2030 Bitcoin price forecast. Wood lowered her projection from $1.5 million to $1.2 million on November 6, citing stablecoin adoption in hyperinflation-affected emerging markets. Saylor countered that Bitcoin serves as digital capital while stablecoins function within transactional finance, describing them as complementary rather than competitive.

Bitcoin dropped 23% in November, recording its steepest monthly decline since June 2022. Placeholder partner Chris Burniske said the selling phase has just begun. Alliance DAO co-founder QwQiao projected markets require another 50% drop before stabilizing.

Tokyo-listed Metaplanet approved a $135 million perpetual preferred share offering on November 20 to fund Bitcoin acquisitions. The Class B shares carry a 4.9% annual dividend and a ¥1,000 conversion price. Strategy founder Michael Saylor stated his firm can withstand an 80%–90% Bitcoin drawdown while maintaining 1.15 times leverage with 4.5-year debt maturity.

GANA Payment, a BNB Smart Chain project, lost $3.1 million after attackers gained unauthorized contract control and manipulated staking rewards. The attacker laundered 1,140 BNB ($1.04 million) and 346.8 ETH ($1.05 million) through Tornado Cash, with approximately $1 million remaining on Ethereum. Blockchain security firm HashDit identified the vulnerability as malicious transfer of contract ownership, enabling extraction of excess GANA tokens.

Bitcoin short-term holders are experiencing one of the most severe capitulation phases of the current cycle, with the Short-Term Holder Spent Output Profit Ratio falling to approximately 0.97. Recent buyers are selling at losses, with 65,200 BTC transferred to exchanges. BlackRock's IBIT recorded its largest single-day outflow of $523 million since launch.

Approximately 40% of Strategy's 649,870 BTC holdings are underwater following recent acquisitions at an average price of $102,171, data show. The company purchased 8,178 BTC at levels roughly 10% above current trading prices. Analysts have raised concerns about the leveraged treasury model's implications for Bitcoin's market structure and its alignment with decentralization principles.

Bitcoin dropped below $90,000 on November 17, marking its first time trading beneath this level since April. The decline pushed the average spot ETF investor into unrealized losses, with the flow-weighted cost basis across all ETF inflows standing at approximately $89,600, data show. The cryptocurrency now trades more than 30% below its record high above $126,000 reached in early October.

Dutch central bank governor Olaf Sleijpen has warned that the $300 billion stablecoin market may require European Central Bank monetary policy adjustments if growth continues at current rates. The market has expanded over 48% this year following new U.S. regulations. Euro-pegged stablecoins represent only 0.18% of global circulation compared to dollar tokens' 99.58% dominance, according to DefiLama data.

The Scaramucci family has invested more than $100 million in American Bitcoin, a Bitcoin mining and treasury company cofounded by Eric Trump and supported by Donald Trump Jr. The investment was made through Solari Capital, an investment firm founded by AJ Scaramucci, which led a $220 million funding round completed in July. The move demonstrates how Bitcoin is creating common ground between former political adversaries, as Anthony Scaramucci previously served as White House communications director and later became a vocal Trump critic.