Bitcoin (BTC) is heading towards its fourth annual loss since its inception, but ironically, this decline is the first that is not associated with a major scandal or catastrophic collapse within the crypto industry, at a time when the market is supposed to be more mature and regulated than any previous cycle.
📊 During a sharp selling wave on Monday, Bitcoin fell by about 3.7%, bringing its losses since the beginning of the year to nearly 7%, trading around $87,000.
🤔 Why does this decline seem strange?
This weak performance comes despite:
Expansion of institutional adoption
Maturity of regulatory frameworks
Unprecedented political support from U.S. President Donald Trump
Launch and flow of billions of dollars into Bitcoin exchange-traded funds (ETFs)
However... the momentum is lost.
🧊 Loss of momentum after the historic peak
Since hitting a historic peak above $126,000 in October, Bitcoin has entered a phase of confusion:
A clear decline in trading volumes
Continued withdrawals from ETFs
Weak risk appetite in derivatives markets
Even whale purchases (including the strategy led by Michael Saylor) did not change the trend
📉 Decoupling from U.S. stocks
While the S&P 500 index has gained nearly 16% since the beginning of the year, and tech stocks continued to rise, Bitcoin failed to keep pace with this performance, leading to a decoupling from traditional markets.
🧠 Lessons from the past... and the present differences
Previous annual losses for Bitcoin were always linked to major shocks:
2014: Mt. Gox collapse
2018: ICO bubble burst
2022: FTX collapse and widespread regulatory tightening
As for today, there is no single clear shock... but a slow drain of liquidity and short-term confidence.
⏳ Time correction instead of price collapse?
Some analysts see the current cycle taking the form of a long-term consolidation rather than a sharp decline, with the price moving within a range: 🟢 $70,000 – $100,000
But the most pressing factor remains:
Previously excessive leverage
Liquidation of $19 billion in bets in October
Selling old whales
Withdrawals of more than $5.2 billion from ETFs
Market depth down by about 30%
🔎 Summary:
Bitcoin is no longer collapsing due to scandals but is entering a phase of testing investors' patience. The market has received almost all the incentives... but the price needs time, new liquidity, and a different momentum story.
