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He describes the year as “The worst bull run of all time” noting that despite Bitcoin’s resilience, most altcoins have plummeted by 90% or more. The causes, he maintains, include institutional dominance, memecoin chaos, political turbulence, and persistently high interest rates.
Institutions, memes and missed opportunities
Institutional investors have tightened their grip on the cryptocurrency market, pouring capital into infrastructure and real-world asset projects tied to top-tier tokens. While this solidified Bitcoin’s position, it left little room for smaller players and speculative assets to thrive.
Meanwhile, the memecoin mania of 2024-2025 generated retail excitement and ended in collective regret. The sector’s absurd extremes, including offensive and unserious projects, became a painful lesson in the risks of overdoing substance.
“They fooled us. OURSELVES,” the merchant admits, calling it a period of self-inflicted damage that could take years to recover from.
Meanwhile, US President Donald Trump’s trade policies triggered what he called a “-20% black hole” in stocks. The resulting shock waves dampened investor sentiment and risk appetite, making 2025 a difficult year for cryptocurrency performance.
Bitcoin’s strength amid widespread doubts
Despite these challenges, Bitcoin is in a rare positive spot, up about 20% so far this year. November has historically been a strong month for BTC and, with rate cuts on the horizon, some analysts still see room for a near-term rally.
Supporting this optimism, Stockmoney Lizards highlighted a potential “Three valleys rising” pattern forming on the Bitcoin chart. This is a classic bullish setup that often precedes big breakouts.
If history repeats itself, this challenging “bull market” could soon turn out to be a long accumulation phase.
