November was a challenging month for the cryptocurrency market, marking its worst performance in three years. Bitcoin and Ethereum both experienced significant declines, attributed in part to the prolonged U.S. government shutdown, which exacerbated market fears and economic slowdown. While equities showed more resilience, Bitcoin recorded its second-worst monthly performance, and Ethereum followed suit with its second-worst month in the same timeframe. Despite the downturn, prediction markets like Polymarket and Kalshi reported record trading volumes, achieving new highs. However, perpetual decentralized exchange (DEX) activity slowed, and major blockchain networks such as BNB Chain and Solana saw decreases in fees and transaction volumes. In contrast, some altcoins like RAIN and STRK managed to post notable gains, defying the broader market trend.