Crypto Market Cap Crashes $1.3T in Just 45 Days, Falls Below $3 Trillion

⬤ The crypto market's been getting hammered lately. Total market cap peaked at an all-time high of $4.27 trillion back on October 6, but by November 20, it had crashed below the $3 trillion mark. That's a $1.3 trillion wipeout in less than seven weeks—one of the quickest bear market moves crypto has ever seen. The selling pressure has been relentless, with barely any relief rallies to speak of.

⬤ Looking at how this played out, the market cap broke down pretty steadily after hitting that October peak. It dropped through the $4 trillion level first, then slid past $3.5 trillion, before landing around $2.98 trillion. There were a few brief moments where things looked like they might stabilize, but those didn't last long. The decline just kept going, week after week. This wasn't just Bitcoin taking a hit—pretty much every major cryptocurrency got dragged down, from large-cap altcoins to smaller digital assets across the board.

⬤ October and November charts tell a brutal story, with massive red candles showing heavy money flowing out of crypto. Every time the market tried to bounce back, sellers jumped in and pushed prices right back down. The speed of this drop really shows how quickly things can turn in crypto—one day everyone's celebrating record highs, the next everyone's scrambling for the exits. Sentiment flipped from super optimistic to risk-off mode faster than most people expected.

⬤ With the crypto market cap now sitting below the $3 trillion threshold, we're in a new phase where macro signals and overall confidence levels are going to matter more than ever. A move this big doesn't just affect crypto traders—it impacts broader risk appetite and shows just how fragile bullish momentum can be when things reverse. The market's going to be watching closely to see what happens next and whether this is just a correction or something bigger.