What to know:
- The cryptocurrency market fell sharply in early November after long-term holders sold $44 billion worth of Bitcoin, while ETFs absorbed just $4 billion in inflows.
- From Samourai Wallet’s alleged xpub registration to Iran’s mining raids and Stream Finance’s $93 million loss resulting in the decoupling of its stablecoin, fear is widespread.
- Despite bearish momentum and weak sentiment, Bitcoin remains above $100,000, and November has historically delivered the strongest monthly returns (+42.11% on average).
- Presales like $PEPENODE stand out as stable entry points amid volatility, offering incremental price stages, high staking returns, and a gamified ecosystem built around virtual mining and meme culture.
The cryptocurrency market just faced its toughest start to November in a long time.
He The total crypto market capitalization has dropped to $3.46 trillion.after reaching $4.3 trillion in early October. $BTC is down around 6% this week and $ETH is struggling to maintain $3.5K. The outlook is gloomy.
A turbulent October, which did not go as traders wanted, saw long-term Bitcoin holders dump approximately $44 billion BTC, while ETFs and digital asset trusts (DATs) absorbed only about $4 billion in net inflows. For the first time in seven years, October was not “Uptober” and instead ended in the red for Bitcoin.
Much of the current decline is due to a set of confidence shocks. The Samourai Wallet ruling hit the privacy meta hard. Prosecutors are seeking five-year prison sentences for his founders for laundering more than $237 million in funds. This sets a chilling precedent for developers.
Then came the Iranian crackdown on mining. According to the data, 95% of Iran’s crypto miners operate illegally and put enormous pressure on the country’s power grid. Then the authorities dismantled More than 100 mining farms and 1.4 thousand machines seized.. Naturally, this created new FUD around global mining stability.
Finally, Stream Finance’s $93M DeFi Loss caused its $XUSD stablecoin to become unpegged. Naturally, this caused a lot of suspicion and anger among cryptocurrency users.
The technical aspects reflect the panic. Bitcoin’s RSI is in oversold territory and the bearish MACD points to weak near-term momentum. However, despite all this fear, $BTC has remained above $100,000 (so far).
History favors patience: November has generated an average return of +42.11% for Bitcoin since 2013. This is actually the highest average return of any month of the calendar year. So traders remain hopeful.
Which brings us to where the smart money is looking for the best cryptocurrency to buy: pre-sale projects like PepeNode ($PEPENODE), where utility, performance, and meme culture collide just as the market prepares for its next move.
The Bigger Picture: Fear Versus Fundamentals
Most market crashes start with panic, not fundamentals. What looks like a collapse is actually just a reset of sentiment after overheated months. Traders are simply concerned that stocks and gold have hit all-time highs in October, while cryptocurrencies have lagged behind.
On-chain data still looks positive. Whales are accumulating through OTC windows, while ETF inflows remain stable (although lower than in the summer).
Exchange balances are at multi-year lowsmeaning that long-term holders still hold on to their coins. Structurally, the market appears quite strong. It’s just that trust is weaker than ever.
But that creates opportunities. Capital rotates into pre-sales because they move in structured price stages, increasing gradually rather than oscillating with market sentiment. That steady progression gives investors a clearer entry point, even when broader markets are in the red.
A notable example is PepeNode ($PEPENODE))a utility-based meme ecosystem that combines DeFi yield mechanics with a game-style mining experience.
PepeNode ($PEPENODE): turn Meme Coins into a virtual mining game
PepeNode ($PEPENODE)) is the first mine to earn meme coin built on Ethereum. Instead of relying on power-hungry GPUs or ASIC platforms, it introduces virtual mining through digital nodes that generate performance based on how you build and optimize your setup.
Each user will start with a virtual server room. This is essentially an empty space waiting to be filled with Minder Nodes. You can buy, upgrade or sell your nodes at any time, adjusting their design to increase production and maximize your profits.
Everything takes place within an interactive and gamified environment that rewards strategy and participation. Leaderboards track the best miners, with high performers earning additional rewards in trending cryptocurrencies like $PEPE.
It’s part mining simulator, part performance engine, and even part social competition. And that is resonating with investors.
🔍 Find out how to buy PepeNode in our simple step-by-step guide.
$PEPENODE is a new version of meme coins. In a market that craves new forms of utility, this balance between fun and function may prove to be its true strength.
⛏️💎 Join the PepeNode Presale today and start extracting rewards.
This article is not financial advice. Cryptocurrencies and pre-sales carry inherent risks. Do your own research (DYOR) and never invest more than you are willing to lose.
Written by Aaron Walker, NewsBTC – www.newsbtc.com/news/analysis-why-crypto-market-is-down-best-crypto-to-buy-pepenode
