The crypto rollercoaster continues

Crypto came into 2025 red hot. It’s ending the year ice cold.

Digital assets began the year by riding the wave of Donald Trump’s presidential victory, with bitcoin climbing above the key price point of $100,000 for the first time on December 4, 2024. President Trump and the First Lady both debuted their own memecoins ahead of the inauguration, signaling crypto acceptance from the highest levels of government. Once President Trump was firmly ensconced in the White House, crypto advocates were sure that this would be their best year yet.

At first, they seemed to be correct. In March, President Trump signed an executive order establishing a strategic bitcoin reserve. In July, Congress passed the GENIUS Act, creating regulatory guidelines for things like stablecoins, and building a framework for future crypto legislation.

Regulators followed that lead, with the SEC and CFTC ending lawsuits against several major crypto exchanges, and generally becoming more lenient for crypto across the board. That gave banks the green light to begin experimenting with their own digital offerings. Wall Street embraced crypto with abandon, and digital asset treasuries like Strategy become some of the hottest stocks on the market.

Then, it all came crashing down

Bitcoin couldn’t sustain its momentum, tumbling to nearly $76,000 in April. The problem, of course, was tariffs: The macroeconomic uncertainty that the trade war brought with it left investors worried about risk assets like crypto, and as they pulled their money out of digital assets, bitcoin plunged.

In classic fashion, the crypto king spent the year waffling above and below $100,000 as digital assets were pushed and pulled by macroeconomic worries and hopes. When the Fed cut rates, bitcoin soared—but when fears of a slowing economy reared their heads, investors took risk off the table and bitcoin fell—and where the OG crypto went, the rest of the crypto market followed.

Perhaps the biggest detriment to crypto’s year was gold. Crypto proponents have long touted bitcoin as digital gold, a safe place to store their wealth while still accruing strong returns. Gold’s record-breaking year turned that wisdom on its head, and investors were all-too-happy to put their money and their faith in old school gold while watching the gains roll in.

A year in review

Bitcoin climbed to a new all-time high of just over $126,000 in October, and while today’s price of just over $87,000 is far below that point, don’t be fooled—it was still a very good year for crypto.

Digital assets took major strides in 2025, becoming a force in markets as crypto legitimacy gained momentum. As you’ll read below, that momentum should continue into 2026—but so will the volatility.—MR