🚨Сrypto underperform every asset in 2025
Stocks hit ATH, gold hit ATH, even oil pumped 35%
I spent days analyzing ETF flows, liquidity and macro
Here’s market breakdown and what it means for BTC👇🧵
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Optimism prevails in the stock and gold markets
In the crypto market - $BTC and alts are catching dump after dump
Why?
It is not only technical factors the reason is more fundamental
I made a detailed breakdown of the situation and I am ready to explain what is what
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The first factor - ownership concentration
A large part of $BTC is currently still in OG wallets
When these people started selling at the $100k peak the market became overloaded
The scale of sales was colossal - $200-250B of old bags
This created fundamental pressure on the price and limited growth
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The second factor - psychological pressure (similarly for those same OGs)
Imagine yourself with a pile of $BTC that literally defines your life
And on top of all the existing FUD everyone starts actively discussing say the quantum threat
Even if the problem is not immediate it strengthens the desire to partially sell off
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The third factor - the narrative is already too weak for new buyers
Stocks offer a lot of everything: AI, space, defense, metals
$BTC offers only the story about money devaluation and it no longer excites
Just look - demand for gold grew even at Tether
Their purchases exceeded top banks in Q3
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The fourth factor - liquidity
Crypto always feels the state of free money on the market
2021 and 2024 were liquidity peaks 2025 is its decline
And now Tether is under pressure because S&P rated it as a weak asset
And if it really bends this will drag the whole market with it
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The sixth factor - PvP and money concentration
Experienced players take money from the market while others panic
Because of this weak alts increase pressure on $BTC
Accordingly profit-taking often leaves crypto empty
So it is no surprise why OI dropped sharply
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So what is next for $BTC?
$BTC will most likely go for a rebuild
OGs may reduce selling after the 4-year cycle
Quantum computers and other factors will keep scaring the market
And for now gold and other assets and stocks will be the priority
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Alts can move sharply on their own it depends on narrative and hype
But unfortunately overall attention to crypto is falling
There are no new narratives yet to boost upward
For now the market is waiting and searching for fresh themes to restore interest
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Conclusion?
2025 showed that crypto is not an autonomous growth engine
It depends on concentration narratives and global liquidity
$BTC succumbed to cyclical psychological and technical limitations
The next growth now depends exclusively on news and changes in macro
11,69 mil
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