BTC: From Heaven to Hell 😉

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So, the year of our Lord 2025. Bitcoin, that digital phantom, dared to dream of grandeur – new highs, the blessing of the state, a veritable deluge of funds. And, naturally, it all culminated in a most predictable and thoroughly unpleasant October. A tragedy, you say? Bah! A cautionary tale, more like.

2025. A year that will be remembered, if only by those unfortunate enough to have invested in this… phenomenon. Prices soared, governments momentarily forgot their disdain for anything they couldn’t control, and fortunes were made and, of course, lost. Oh, so many lost. 😇

Great stacks of perfectly good money rushed in, seeking “infrastructure.” As if! The year also demonstrated, with a rather satisfying thud, how swiftly these gains can evaporate. One minute, utopia; the next, a frantic scramble for the exits. A familiar story, wouldn’t you agree? 🤔

Let us, then, take a stroll through the year, painstakingly quarter by quarter. A morbid curiosity, perhaps? A desire to learn from the mistakes of others? Or simply a perverse enjoyment of watching the inevitable unfold? Regardless, here we go…

The Year Begins With Politics and a Dash of Delusion

The year commenced with a distinctly feverish excitement within the crypto bazaars. And who should reappear, like a particularly persistent cockroach, but Donald Trump? Back in the White House, spouting pronouncements about “amazing” Bitcoin and its “greatness” for the nation. One could almost smell the self-promotion. 👃

He even, with a flourish of the presidential pen, pardoned Ross Ulbricht. A symbolic gesture, naturally. As if a pardon could wash away the sins of the digital underworld. Such melodrama!

Bitcoin is “amazing” and “a great thing for our country.” – President Trump

– Michael Saylor (@saylor)

And the price! Good heavens, the price! It dared to breach the psychological barrier of $100,000. A feat celebrated with the restraint of a particularly boisterous circus. 🎪 Traders, swept up in the frenzy, pushed through it with alarming speed. Confidence bloomed, as fragile and temporary as a spring blossom.

Then came March, and a rather grand executive order. A “Strategic Bitcoin Reserve” for the United States! Naturally. Seized Bitcoin, rebranded as a “long-term asset.” Compared to gold, you understand. Gold! As if digital nothingness could ever rival the weight and solidity of the real thing. But logic, alas, rarely concerns itself with the whims of the market.

Bitcoin Faces Its First Test in Q2 – Or Attempts To

The optimism, that relentless, irritating optimism, continued into the second quarter. Public companies, in a desperate attempt to appear “innovative,” began mimicking MicroStrategy. Bitcoin on balance sheets! A “store of value”! As if accounting tricks could magically transform a volatile asset into something…stable.

And, of course, there was the little matter of the US-China tariff war. A senseless squabble over trade, which caused a brief dip in the market. But fear not, dear reader! The sell-off was fleeting. The markets, you see, are now so interconnected, so hopelessly entangled, that all crises eventually blur into one vast, meaningless mess.

Trump increased tariffs on China to 125%, while pausing it for other countries

👉🏼 Americans will now import Chinese products from third countries

👉🏼 China will still get its money

– Iran Observer (@IranObserver0)

Then came improvements to the ETF structure… better redemptions for spot Bitcoin ETFs, meaning large investors could move their money around faster. More seamlessly. More foolishly, one might add. Capital flowing freely, like water into a leaky bucket.

Bitcoin Reaches Peak Euphoria in Q3 – A Most Dangerous Condition

The third quarter (summer, if you insist on remembering such trivialities) delivered the year’s most exuberant phase. Bitcoin, that untamed beast, appeared unstoppable. Congress, in a moment of inexplicable inspiration, advanced two crypto bills – the GENIUS Act and the Clarity Act. Rules for stablecoins! Definitions for digital assets! Such order! Such control! 🙄

Banks and payment firms, predictably, welcomed these steps. Clarity, you see, allows for exploitation. And exploitation, my dear friend, is the lifeblood of finance.

The spot Bitcoin ETFs saw massive inflows. A staggering $12.4 billion! Asset managers, finally succumbing to the hysteria, began treating Bitcoin like a…mature allocation. As if. The delusion spread like a contagion.

And the price… oh, the price! It climbed relentlessly, reaching a peak of $126,198 on October 6th. The highest price ever recorded. A monument to human folly. 🤡

Related Reading: Iran’s Currency Crisis Sparks Bitcoin Adoption Debate

Bitcoin Suffers the October 10 Crash – The Inevitable Reckoning

Of course, euphoria never lasts. It’s a fundamental law of the universe. And so, on October 10th, the bubble burst. The markets snapped. The US-China trade tension flared anew. And Bitcoin… well, Bitcoin plummeted.

Heavy leverage, naturally, exacerbated the situation. Long positions collapsed in waves. A cascade of despair. Roughly $19 billion in leveraged trades vanished in a single day! A fitting tribute to greed.

RUMOR: Few major crypto funds blew up during the October 10th flash crash that wiped out $19 billion. They’re now being forced to sell Bitcoin and ETH to cover losses, which explains the relentless dumping. This also fits why Alt/Btc pairs are holding up well.

– Ash Crypto (@AshCrypto)

Altcoins fared even worse, some losing over half their value. A bloodbath, in the truest sense of the word.

As of today, prices hover between $85,000 and $95,000. Still above pre-2024 levels, yes. But a mere shadow of the October heights. A poignant reminder that even the most spectacular rises are inevitably followed by the most humiliating falls. A lesson, if only anyone would bother to learn it. 🥂

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2025-12-31 14:01