Bitcoin’s Reality Check: Why 2025 Didn’t Deliver the Moon

[chainsniff]

Bitcoin entered 2025 wrapped in bold forecasts and sky-high expectations, with predictions stretching from $150,000 to as high as $500,000. Instead, the year closed with Bitcoin hovering around the high-$80,000 range, highlighting a sharp disconnect between narrative-driven optimism and actual market behavior.

The shortfall wasn’t about a lack of belief — it was about structure. Liquidity stayed tight, rate cuts arrived slower than hoped, and institutional investors treated Bitcoin more like a portfolio hedge than a speculative rocket ship. The result was a mature market that absorbed demand without igniting the reflexive rallies seen in earlier cycles.

[etfs]

belief was there, structure just wasnt