🔗 What Really Happened in Crypto in 2025 - and What’s Next
2025 was supposed to be the $BTC bull run. Instead, it became the year crypto fully entered the financial system - without the classic euphoria.
🧩 What defined 2025?
• Institutionalization won - ETFs, funds, and corporate treasuries now hold ~13% of $BTC supply
• Bitcoin peaked near $120k, but the explosive phase never came
• Trump-era politics drove volatility: tariffs, memecoins, Bitcoin reserve headlines
• Record $20B liquidations (Oct 10) broke momentum and confidence
• Stablecoins + RWA exploded - real adoption, real cash flows
• DEX derivatives (Hyperliquid) challenged CEX dominance
🧠 The big shift?
Crypto didn’t replace TradFi - it merged with it. Blockchain became infrastructure, not rebellion.
📉 Why the bull run felt “wrong”?
• Fewer retail traders
• Less leverage-driven hype
• More controlled, ETF-led flows
• Cycles no longer cleanly follow halvings
Some say 4-year cycles are breaking.
Others say they’re just stretching.
The market is slower, heavier, more institutional.
The next big move won’t reward hype - it will reward positioning.
