According to @BitMEXResearch, they have not studied NFTs in depth and have limited interest, emphasizing that NFTs are generally bad investments, source: @BitMEXResearch on X, Nov 14, 2025. They add that NFTs being put on Bitcoin is not a concern for them and that critics should ignore NFTs rather than push for restrictions, source: @BitMEXResearch on X, Nov 14, 2025. They state NFTs will fall in value and see no point in technical measures to deter or prevent NFTs, signaling a clearly bearish stance on NFT valuations that traders tracking Bitcoin-based NFT activity should note, source: @BitMEXResearch on X, Nov 14, 2025.

According to @BitMEXResearch, since Aug 27, 2025, the median price of the top 10 NFTs on Bitcoin fell 36.7%, marking a continued drawdown in the segment traders track for momentum and risk management (source: BitMEX Research, Nov 14, 2025). According to @BitMEXResearch, the median is down 96.9% from the peak, underscoring severe value compression across leading Bitcoin NFT benchmarks that affects entry/exit planning (source: BitMEX Research, Nov 14, 2025). According to @BitMEXResearch, BTC declined 14% in USD over the same period, which mechanically amplifies USD-denominated losses for Bitcoin NFT holdings relative to native pricing (source: BitMEX Research, Nov 14, 2025).