#Square
Crypto Market Dynamics Under Trump and Biden
As 2025 nears its end, the crypto market, once expected to thrive under Trump's pro-crypto environment, is significantly down, valued at only 20% of its Biden-era peak. This discrepancy raises questions about the market's fundamental health. Analyst Ran Neuner argues that despite favorable conditions, including abundant liquidity and institutional interest, traditional market theories now seem inadequate.
Contrasting views exist, with market commentator Gordon Gekko suggesting the current structure reflects intentional market design rather than dysfunction. The landscape has shifted from a speculative retail-driven model to a more institutionalized environment under Biden, creating a divide between "institutional crypto" and "attention crypto." Analysts emphasize the need for participants to adapt to new liquidity flows and market structures, as the old patterns of altcoin seasons appear outdated amidst a growing number of digital tokens.