Analysts at CryptoQuant report that the total cryptocurrency market capitalization has declined by more than $730 billion over the past 90 days. Bitcoin experienced the largest drop, with its market value falling by about $348 billion. This downturn reflects a significant capital outflow amid heightened market volatility.
The cryptocurrency market has undergone a sharp contraction, with its total capitalization shrinking by more than $730 billion in less than 100 days, according to data from CryptoQuant. This period, spanning roughly the past 90 days, marks a notable shift in investor behavior.
Bitcoin, the largest cryptocurrency by market capitalization, saw the most substantial losses in absolute terms. Its value decreased from approximately $1.70 trillion on November 22, 2025, to around $1.35 trillion at the time of the report, representing a drop of $348 billion or about 22 percent.
Other segments of the market also faced declines. The top 20 cryptocurrencies by market cap, excluding Bitcoin and stablecoins, experienced a drawdown of about $260 billion, falling from $1.07 trillion on December 2, 2025, to roughly $811 billion. Meanwhile, mid- and small-cap assets lost more than $120 billion, declining from $390 billion on December 11, 2025, to $268 billion.
CryptoQuant analysts described the situation as "an unprecedented short-term capital outflow that is deepening the contraction of the crypto economy." They added, "This is more than a simple correction — the numbers show investors exiting in a classic risk-off mode."
In response to the volatility, the firm recommends monitoring on-chain metrics closely, including the short-term holders' cost basis and Bitcoin cycle signals. Earlier analyses from experts had indicated a potential accumulation zone for Bitcoin based on certain indicators.
