Strategy CEO Michael Saylor projects Bitcoin could reach $150,000 by the end of 2025, describing this year as the first of institutional digital asset adoption. In a longer-term forecast, he predicts BTC may hit $21 million over 21 years, assuming approximately 29% annual appreciation.

Bitcoin fell 2% in early Asian trading, dropping below $107,000 as large holders took profits and ETF outflows continued. The decline extends weakness from October, when a major liquidation event on October 19 established bearish sentiment that persisted into November. Market participants view the move as consolidation following a volatile period.

Bitcoin began November trading below its recent consolidation levels amid market uncertainty. Analysts from The Bull Theory identify several factors that historically align with strong BTC performance in November, when the cryptocurrency has averaged 40–42% gains in past years. These catalysts include the resumption of government spending, corporate buyback programs, elevated Federal Reserve repo activity, and accumulated Treasury balances.

Strategy has filed to offer 3.5 million shares of euro-denominated perpetual preferred stock (STRE) to raise capital for bitcoin acquisitions and corporate operations. The company announced Monday it purchased 397 BTC for approximately $45.6 million, bringing total holdings to 641,205 BTC, according to a company statement.

Bitcoin long-term holders have sold approximately 400,000 BTC over the past 30 days, according to onchain data. The Long-Term Holder Net Position Change metric has turned increasingly negative, signaling accelerated distribution. Technical indicators have shifted from buy to neutral for the weekly outlook, with long-term moving averages now showing sell signals.

Senate Agriculture Committee Chair John Boozman said bipartisan negotiations on the CLARITY Act have resumed, with a committee markup potentially occurring before Thanksgiving. Banking Committee Chair Tim Scott's office confirmed talks restarted after crypto industry leaders mediated following an earlier stalemate over controversial DeFi provisions, according to Boozman and spokesman Jeft Naft.

Bitcoin's blockchain activity has declined sharply in 2025, with daily transaction fees dropping from approximately 4.7 BTC in January to just over 2 BTC in May—a 56% decrease. Average block size has contracted by around 10% since the first quarter, settling near 1.53 MB. Despite reduced network congestion, Bitcoin maintains price levels above $110,000, though miners now depend more heavily on block subsidies as fee income diminishes.

Cipher Mining has signed a 15-year, $5.5 billion hosting agreement with Amazon Web Services to provide 300 megawatts of computing capacity for AI workloads starting in 2026. The deal marks the former Bitcoin mining company's shift to large-scale data center infrastructure. Cipher will deploy liquid-cooled and air-cooled systems in two phases, with the first phase scheduled for August 2026.