The 2025 cryptocurrency market is experiencing significant turbulence, with most altcoins plummeting over 90% despite Bitcoin's surge past $110,000. Analysts such as Scott Melker and Crypto Birb note the lack of an altcoin season and the overwhelming influence of institutional investors, leaving retail traders struggling with meme coins and unmet expectations. In a dramatic turn, the market recorded $19 billion in liquidations within 24 hours. Despite initial optimism for a November recovery, prices have continued to decline following a modest interest rate cut and a hawkish outlook from the Federal Reserve.