Bitcoin NFT Market Update - 14 Nov 2025 * Since our previous post on 27 Aug 2025, the median price of the top 10 NFTs on Bitcoin is down 36.7%. The median price is down 96.9% since the peak * In the period, the Bitcoin price is down 14% in USD, such that the USD decline in NFT prices is even greater * Turns out investing in onchain JPGs is not always entirely consistent with a Benjamin Graham "Intelligent Investor" type philosophy * Seems the JPS enjoyers are being defeated by basic market economics, rather than filters or doomsday softfork threats like BIP-444(BitMEX Research)