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How the $19 billion crypto crash broke the 2025 bitcoin (BTC) narrative

Digital asset treasuries, new altcoin ETFs and bitcoin’s famed year‑end seasonality were meant to supercharge prices. What came instead was the worst drawdown since the 2022 crypto winter.

Crypto was supposed to go out with a bang this year.
Heading into the fourth quarter, bitcoin was riding a wave of strong ETF inflows, digital asset treasuries (DATs) pitching themselves as leveraged bets on the next leg higher, and analysts dusting … [6564 chars]

Source: CoinDesk | Published: 2026-01-01T12:00:00Z

Credit: CoinDesk

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