Bitcoin ended 2025 below $100,000, falling short of its anticipated rally and exhibiting mixed market signals. Long-term holder distribution continues while accumulation by mid-sized whale wallets persists, indicating uncertain demand. Analysts frame 2026 as a late post-halving phase largely influenced by macroeconomic factors rather than clear bull or bear market dynamics. Meanwhile, Ethereum saw large wallets increase holdings despite a nearly 9% price decline over the year, reflecting confidence from institutional and whale investors. The crypto investment space experienced $952 million in outflows amid U.S. regulatory delays, particularly from Ethereum and Bitcoin funds, although XRP and Solana attracted inflows anchoring selective optimism.