Cryptocurrency trading in Indonesia slowed significantly toward the end of the year, with transaction values in November 2025 reaching Rp37.20 trillion (17/12), down 24.53% from October’s Rp49.29 trillion, according to the Financial Services Authority (OJK).

Despite the monthly decline, total crypto transaction values for 2025 remained significant, reaching Rp446.77 trillion year to date.

Bitcoin Price Corrections Drive Market Slowdown

Calvin Kizana, CEO of Tokocrypto, said the decline aligns with Bitcoin’s performance, which recorded its second-worst month of 2025. In November, Bitcoin prices fell by over 17% due to a combination of Bitcoin ETF outflows, weaker institutional demand, and increased selling by short-term investors.

“The pressure on global markets intensified after US President Donald Trump expanded tariffs on China on 10 October 2025, prompting global risk reassessment. Volatility continued into November and worsened due to the US government shutdown, which tightened liquidity in traditional financial markets,” Calvin explained (17/12).

Institutional Outflows Affect Domestic Market

Data from SoSo Value showed that Bitcoin ETFs in the US saw $3.48 billion in outflows during November, the second-largest monthly withdrawal since their 2024 launch.

This situation influenced domestic investors, many of whom adopted a wait-and-see approach ahead of the year-end holiday and Christmas season.

Tokocrypto Performance Remains Strong

Despite market volatility, Tokocrypto maintained solid activity. By November 2025, the platform’s total transaction value approached Rp150 trillion, reflecting sustained user interest even during the global market correction.

New Deposit Options Aim to Increase Trading

To boost domestic trading activity, Tokocrypto launched a new deposit method through Bank Central Asia (BCA). Users can now deposit via BCA Virtual Account, making Rupiah deposits faster, easier, and free of additional fees, allowing investors to choose the most convenient transaction method.

PHOTO: UNSPLASH

This article was created with AI assistance.