It the beginning of this year, like most analysts, we were incredibly bullish. Our target range for the Bitcoin price EOY was $150,000 to $400,000. Obviously, we were incorrect.
In today’s newsletter we are going deep.
We will start by breaking down 4 key reasons why Bitcoin underperformed in 2025.
Additionally, we will dive deep into the current macroeconomic conditions, the shifting risk-tides, Bitcoin on-chain data, institutional flows, and Bitcoin Mining.
This is the final newsletter of 2025 – and we’re closing out the year with a banger.
Grab a notepad, lock-in, and enjoy.
Well see you in the new year.
Why Bitcoin Stagnated in 2025
To start, we’re going to break down four key reasons why Bitcoin underperformed in 2025: