Bitcoin tried to pretend it was still a hotshot but… nope. The crypto markets bled over the weekend, and now it’s all, “Wait, did I lose my gains?!” 🤯 Despite the US government reopening on Thursday, which was supposed to be the financial equivalent of a superhero cape, the markets just sighed and said, “Not today, thanks.”
Bitcoin (BTC) fell to a low of $93,029 on Sunday, down 25% from its all-time high in October. It started the year at $93,507. Sighs What a rollercoaster! 🎢
It has since rebounded to around $94,209, CoinGecko data shows. A tiny victory for the crypto community, who are now just hoping for a miracle. 🙏
This year was tipped to be a strong one for the crypto markets after US President Donald Trump was inaugurated on Jan. 20 and formed the most pro-crypto administration to date. Cue the dramatic music… which has followed through on most of his promises. Or, as we like to call it, “pro-crypto” as in “pro-anything that doesn’t involve taxes.” 🤷♂️
Regulatory momentum under the Trump administration has been accompanied by an explosion in corporate Bitcoin treasury adoption and more inflows into the spot Bitcoin exchange-traded funds. Because nothing says “economic stability” like companies investing in a digital asset that’s basically a 2009 version of a ponzi scheme. 🕵️♂️
However, Trump’s war on tariffs and the US government shutdown – the latter of which ended on Thursday after a record 43 days – have contributed to multiple double-digit Bitcoin price pullbacks throughout the year. Because who doesn’t love a good 43-day “I’m not here!” drama? 😂
Bitcoin whales have also slowed price rallies
Another key catalyst seen behind Bitcoin’s price slump has been OG Bitcoiners and whales selling off portions of their holdings, compressing upside even in light of positive industry developments. Because nothing says “I’m a whale” like selling your stash when the market’s down. 🐋
However, Glassnode analysts last week said the “OG Whales Dumping” Bitcoin narrative isn’t as strong as it is made out to be, explaining that it is “normal bull-market behaviour,” particularly during the late stages of bull runs. Because of course it is. Nothing says “normal” like watching your crypto portfolio shrink while you’re sipping champagne. 🥂
“This steady rise reflects increasing distribution pressure from older investor cohorts – a pattern typical of late-cycle profit-taking, not a sudden exodus of whales.”
Bitcoin isn’t alone – Ether (ETH) and Solana (SOL) are down 7.95% and 28.3% respectively from the start of 2025, while most altcoins have been hit even harder. Because why have one crash when you can have a full symphony of meltdowns? 🎶
Four-year cycle thesis still not in effect, analyst says
Industry analysts are also speculating whether the four-year cycle thesis remains in effect, despite the crypto markets having far more institutional and regulatory backing compared to earlier market cycles. Because nothing says “trust” like a bunch of bankers and regulators suddenly caring about your digital tokens. 🧾
Bitwise chief investment officer Matt Hougan is one of a few analysts who believe Bitcoin will boom in 2026 due to the “debasement trade” thesis playing out, while the broader markets will benefit from increased adoption in stablecoin, tokenization and decentralized finance. Because 2026 is just the year we all knew was coming… or maybe it’s just a fancy way of saying “hope for the best.” 🌟
“I think the underlying fundamentals are just so sound,” Hougan said last Wednesday.
“I just think those are too big to keep down. So I think 2026 will be a good year.”
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2025-11-17 03:09