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The investment landscape in 2025 has delivered an unusual outcome that few would have anticipated at the start of the year. Assets traditionally viewed as slow movers have risen as the clear winners, while the cryptocurrency market has quietly slipped to the bottom of the performance rankings. 

As the year draws to a close, data from across commodities, equities, and digital assets shows an imbalance in returns, revealing that cryptocurrencies now sit behind every major asset class in year-to-date performance.

Clear Split Between Traditional Assets And Crypto

The performance data for 2025 reveals a strong divergence between traditional markets and digital assets, with the gap widening as the year progressed. According to the figures revealed on the social media platform X by ‘Bull Theory,’ silver is the top-performing asset for 2025, posting gains of about 130% year-to-date. Gold is the second-best-performing asset of 2025, with an increase of about 65%, while copper has climbed close to 35%. These numbers reflect sustained strength across the commodities sector.

Equity markets are also currently trading in positive territory. The Nasdaq is up around 20% on the year, the S&P 500 has gained approximately 16%, and the Russell 2000 is higher by about 13%. 

The only negative numbers are from the crypto industry. In contrast, the crypto market sits at the bottom of the performance rankings. Bitcoin is currently down by about 6% from its 2025 opening price, Ethereum has declined around 12%, and the entire altcoin market (removing Ethereum) has suffered a much deeper drawdown of about 42%. Therefore, the crypto market is now officially the worst-performing asset class in 2025.

Chart Image From X. Source: @BullTheoryio

From Mid-Year Rally To Q4 Breakdown

The current weakness of the crypto market is very different from the optimism that dominated the beginning and middle of 2025. During that period, the crypto market experienced a powerful recovery that reignited bullish sentiment across the board. Bitcoin, Ethereum, XRP, and several large-cap tokens pushed to new all-time highs.

Bitcoin’s rally peaked in October, when it set its standing record of $126,000 after months of steady accumulation and strong momentum. Ethereum, on the other hand, registered a new all-time high of $4,946 in August, while XRP’s all-time high came earlier in July. XRP’s record price of $3.65 was the most notable, as it was its first time breaking into a new all-time high since 2018.

That bullish trend began to unravel as the fourth quarter got underway, starting with the crypto market flash crash on October 10. The decline has extended since then, and Bitcoin and the broader crypto market have now fallen into negative territory from their 2025 opening levels. 

Quarterly returns data shows that Bitcoin just recorded its worst fourth-quarter performance in seven years. The result is a year in which digital assets, despite a powerful mid-year rally, are closing out as the worst-performing major asset class.

Bitcoin Quarterly Returns. Source: @TedPillows On X

Featured image from Unsplash, chart from TradingView

According to a report by Mercado Bitcoin, crypto trading activity in Brazil rose 43% year-over-year in 2025, while the average amount invested per user crossed roughly BRL 5,700 — about $1,000.

Reports have disclosed that this jump was driven by heavier use of stablecoins and a growing appetite for lower-risk crypto products alongside traditional tokens.

Rise In Transaction Volumes

Bitcoin remained the most traded asset, followed closely by USDT, Ether and Solana. Stablecoin transaction volumes were about three times higher than the prior year, a sign that many investors are moving funds into pegged tokens for trading or as a cash-like holding.

The report shows that around 18% of investors now hold more than one digital asset, which points to broader portfolio choices beyond single-coin speculation.

Fixed-Income Tokens Gain Traction

Demand for tokenized fixed-income offerings surged. Renda Fixa Digital, or RFD, recorded 108% growth in volume, and Mercado Bitcoin distributed roughly $325 million through these structured products during the period covered. Based on reports, many retail investors appear to be using these instruments to seek stable yields instead of chasing only price gains.

Young Traders Push Numbers Higher

Younger investors were a major factor, with participation among those under 24 rising about 56%. Activity increased across age groups, but the fastest growth was clearly among younger adults.

Regional data show São Paulo and Rio de Janeiro leading in transaction volume, although activity expanded into other states. Average ticket sizes increased, which helped lift the overall value of trades even as more people entered the market.

Regulatory And Market Signals

Tax authority figures and market trackers offer similar signals. A Receita Federal update covering activity through September 2024 recorded a roughly 24% rise in crypto transactions measured in BRL, and one report put USDT’s share of on-chain volume near 62%. Those numbers underline how stablecoins have become central to flows in and out of Brazilian crypto markets.

What This Means For Investors And Firms

Based on reports, Brazil’s market is showing signs of maturation: investment amounts are growing, product choices are widening, and stablecoins are being used more often for trading and storage.

Exchanges are responding with more fixed-income style offerings, and younger users are helping to expand the investor base. Market watchers warn that this does not remove price risk, but it does suggest a shift in behavior as more people use crypto for a mix of trading and yield strategies.

Featured image from Unsplash, chart from TradingView

2025 was a challenging year for the cryptocurrency market and industry, and it did not spare the spot Bitcoin exchange-traded funds (ETFs). The US-based Bitcoin ETF market experienced wet and dry spells in equal proportions over the course of the year.

However, BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (ticker: IBIT), has been a standout performer at times this year. According to the latest market data, the product’s performance in 2025 has earned it a spot among some of the best funds in the global ETF market.

BlackRock’s IBIT Records $25 Billion Net Inflow In 2025 

In a recent post on the social media platform X, senior Bloomberg analyst Eric Balchunas revealed that BlackRock’s Bitcoin ETF has ranked sixth in net capital inflows in the past year. This feat comes despite the BTC exchange-traded fund posting a negative return in the same period.

According to data shared by Balchunas, BlackRock’s IBIT registered a net inflow of approximately $25 billion so far this past year. What’s interesting is that the Bitcoin ETF pulled in this significant capital despite being the only fund with negative performance among the traditional equity and bond ETFs, as observed in the chart below.

Interestingly, SPDR’s GLD ETF, the world’s largest physically backed gold exchange-traded product, lags behind BlackRock’s IBIT in terms of capital inflows despite its 64% return in the year. Notably, Vanguard’s S&P 500 ETF (VOO) led the cohort with a year-to-date capital inflow of over $145 billion.

Furthermore, Balchunas highlighted that while the crypto community would naturally complain about the Bitcoin ETF’s yield, it is also important to recognize the significant feat of attracting the sixth-largest capital in spite of this negative return. According to the ETF expert, this yearly performance is a good sign in the long term.

Balchunas wrote:

If you can do $25b in a bad year, imagine the flow potential in a good year.

The Bloomberg analyst did credit the older, long-term investors (the boomers) in what he called a “HODL clinic” for the positive net inflows seen by BlackRock’s Bitcoin ETF.

Bitcoin ETFs Record $497 Million Weekly Outflow

According to SoSoValue data, the US-based Bitcoin ETFs closed the week with a total net outflow of $158 million on Friday, December 19. This brought the ETFs’ record to about $497.05 million in outflows over the past week.

The dismal run of performances in the Bitcoin ETF market can be seen in the price action of the premier cryptocurrency in recent weeks. The Bitcoin price is down by exactly 30% from its all-time high of $126,080.

As of this writing, the price of BTC stands at around $88,293, reflecting a 2% decline in the past seven days.

Hyundai Group’s Seoul offices were evacuated after an email threatened explosions unless a Bitcoin ransom was paid, authorities and media reports said.

The message demanded 13 Bitcoin — roughly $1.1 million — and set a deadline of 11:30 AM, prompting an immediate safety response across multiple company sites on December 20, 2025.

Threat Sent To Seoul Offices

According to police and news outlets, the email named two locations: the Hyundai Group building in Yeonji-dong, Jongno-gu, and the Hyundai Motor Group tower in Yangjae-dong, Seocho-gu.

Staff left work and buildings were cleared while local law enforcement mobilized special units. Reports have disclosed that Hyundai moved operations to remote work as officials searched the premises.

Police Clear Buildings After Sweeps

Bomb squads and officers combed rooms and public areas at both sites. Equipment was used and rooms were checked methodically. No explosives or suspicious devices were found, officials reported.

During the hours of searching, streets near the buildings were closed and entry was tightly controlled. No transfer of the demanded 13 BTC has been traced, and Hyundai did not pay the ransom, according to sources close to the company and law enforcement briefings.

Officers said the threat appeared aimed at causing alarm rather than reporting a verifiable plan. Investigators have been collecting digital evidence from the threatening email and are working with cyber units to trace its origin.

Searches of nearby surveillance footage and building logs were carried out as part of standard procedure. Several witnesses described the scene as tense, with employees escorted out calmly and officers coordinating safe movement.

Part Of A Wider Pattern Of Extortion

Based on reports from multiple outlets, this incident is not isolated. Similar threats have targeted major South Korean firms in recent days, with messages mentioning Samsung Electronics, KT, Kakao, and Naver.

Authorities believe some of the messages may be copycat attempts or coordinated extortion that rely on fear rather than real bombs. Officials said they are treating each tip seriously while trying to separate credible leads from hoaxes.

Financial and cybercrime units have noted an uptick in ransom demands tied to cryptocurrencies in the region over the past months. While attackers favor crypto for its cross-border reach, tracing transactions can sometimes reveal useful leads when firms and exchanges cooperate.

Analysts who follow such cases say investigators now routinely combine physical security sweeps with blockchain analysis to follow any money trail.

Hyundai released a brief statement confirming the evacuations and thanking emergency services for their fast response, but it declined to comment on investigative details.

Featured image from Unsplash, chart from TradingView

Tom Lee, chairman of BitMine and managing partner at Fundstrat, has been a vocal optimist when it comes to the cryptocurrency market, especially for Bitcoin and Ethereum. Most recently, Fundstrat’s managing partner revived his $62,000 target call for the Ethereum price in 2026.

However, it appears that Lee and his investment firm do not align in terms of their market expectations for the coming year. Fundstrat seems to be looking at a more bearish setup for most of the large-cap digital assets, including Bitcoin, Ethereum, and Solana, in 2026.

$60,000 Is The Target, But Not For Ethereum

According to screenshots posted on social media platform X, Fundstrat released a 2026 crypto strategy report, warning internal clients of potential market headwinds in early 2026. The report’s title, however, also suggested that Bitcoin, Ethereum, and Solana could enjoy significant growth in the second half of next year.

Sean Farrell, Fundstrat’s head of digital asset strategy, projected significant drawdowns for the crypto market in the first half of 2026. The research set the target for the Bitcoin price between $60,000 to $65,000, the Ethereum price within $1,800 – $2,000, and the Solana price around $50 – $75.

Farrell wrote in the report:

These levels would present attractive opportunities into year-end. If this view proves incorrect, I still prefer to play defense and wait for confirmation of strength.

This circulating report stands in contrast to the predictions of Tom Lee, who is the chief investment officer (CIO) at Fundstrat. Speaking to attendees at the Binance Blockchain Week earlier this month, Lee stated that the price could run up to as much as $62,000 as Ethereum becomes the core infrastructure for tokenized finance.

In September, at the Korea Blockchain Week, Lee said that the price of Bitcoin could reach as high as $250,000 by year-end, while Ethereum’s value could climb toward $12,000. The rationale for this projection revolved around macro tailwinds and growing institutional interest in crypto assets.

Now, while the Fundstrat internal document has yet to be authenticated by Bitcoinist as of press time, Colin Wu-led outlet Wu Blockchain verified that this document was indeed distributed to internal clients.

Bitcoin And Ethereum Price At A Glance

As of this writing, Bitcoin, the world’s largest cryptocurrency by market cap, is valued at around $88,180, reflecting no significant movement in the past 24 hours. Meanwhile, the price of ETH stands at around $2,980. 

The Brooklyn District Attorney’s Office, Kings County, has charged a man for allegedly defrauding $16 million from unsuspecting individuals by posing as a Coinbase representative. The elaborate scam, which reportedly ran from April 2023 to December 2014, resulted in about 100 victims, 70 of whom were interviewed over the course of the investigation.

Brooklyn Man Indicted In Nationwide Phishing Scam

In a press statement on Friday, Brooklyn District Attorney Eric Gonzalez announced the Virtual Currency Unit had indicted one Ronald Spektor of Sheepshead Bay, for orchestrating a multi-million dollar phishing and social engineering scam. Spektor, also known as “Ronaldd”, and identified as 23 years old, allegedly contacted multiple Coinbase users acting as an exchange representative to claim that users’ assets were at risk of being stolen, and directed that they move their assets to a given new cryptocurrency wallet. 

As earlier stated, victims of this scam were found all around the US, including a California resident who reported a $1 million loss, and another Virginia resident who lost over $900,000. Spektor, who has been associated with the Telegram handle @lolimfeelingevil, notoriously cleaned out the stolen assets by laundering them through crypto mixers and gambling sites.  

The 23-year old defendant was arraigned before the Supreme Court Justice Danny Chun on a 31-count indictment, including counts of first-degree grand larceny, first-degree money laundering, and scheme to defraud. However, Spektor has been held on bail conditions of $2.5 million, after investigations also revealed plans of the alleged fraudster to escape to Mexico.

Coinbase Collaborates With Authorities

Speaking on the case, Coinbase’s Chief Legal Officer, Paul Grewal, appreciated the district attorney’s efforts while also noting the exchange’s commitment to protect its customers, evident through its participation in the investigation. 

Grewal said: 

We’re grateful to District Attorney Gonzalez and the Brooklyn District Attorney’s Office for their partnership and relentless work to protect victims. In this case, Coinbase supported the investigation by helping identify the perpetrator and the customers he defrauded, providing evidence to ensure he could be charged, and assisting law enforcement efforts to trace and recover funds connected to the fraudulent phishing scheme. We’re committed to protecting our customers and working hand-in-hand with law enforcement to hold scammers accountable and help bring justice for those they harm.

Meanwhile, Gonzalez has vowed to cleanse Brooklyn of online scams, especially those exploiting innocent crypto users.

The Brooklyn DA said:

My office is committed to making sure that Brooklyn never becomes a hub for online scams, and we will continue to root out every instance of cryptocurrency fraud, which is a serious problem that’s been exploding throughout the country. We will investigate offenders using the latest technology, freeze their assets whenever possible, and assist the victims.

At press time, Gonzalez’s office also reports that $105,000 in cash and approximately $400,000 in crypto assets have been confiscated from the defendant over the course of the investigation, with ongoing efforts to gain access to more stolen assets.