Bitcoin lost all its gains for the year after a weekend market bleed, dropping to $93,029 on Sunday, 25% down from its October high. It has since rebounded to $94,209. The US government reopening was expected to provide relief, but multiple double-digit price pullbacks were caused by Trump’s tariffs and shutdowns. OG Bitcoiners and whales selling off holdings have also impacted prices. Ether and Solana are also down from the start of the year, with most altcoins hit even harder.

The pro-crypto Trump administration was expected to boost the crypto market, but it has faced challenges from tariffs and shutdowns. Regulatory momentum has increased corporate Bitcoin treasury adoption and inflows into spot Bitcoin exchange-traded funds. Despite OG whales selling off holdings, Glassnode analysts believe it is normal late-cycle behavior, not an exodus. The four-year cycle thesis is being questioned, with analysts speculating on the future of Bitcoin in 2026. Bitwise’s CIO believes the debasement trade thesis will lead to a boom in 2026, driven by increased adoption in stablecoin, tokenization, and decentralized finance.

Read more at Cointelegraph: Bitcoin’s 2025 Gains Wiped After Latest Market Tumble