Narratives in crypto in 2025
The table above shows how narratives changed throughout last year. What stands out is that there was no stable “meta” that lasted longer than a month — almost every month the market switched to a new narrative.
This might actually be one of the problems of the market: narratives appeared quickly and faded just as fast, without having enough time to fully play out their potential.
And markets generally need stability — it’s better to have fewer narratives, but ones that last longer.
The table above shows how narratives changed throughout last year. What stands out is that there was no stable “meta” that lasted longer than a month — almost every month the market switched to a new narrative.
This might actually be one of the problems of the market: narratives appeared quickly and faded just as fast, without having enough time to fully play out their potential.
And markets generally need stability — it’s better to have fewer narratives, but ones that last longer.