No surprise is emerging in the final stretch: by year-end, Bitcoin is trading around $88,000, closing slightly below the prior year’s level. Despite reaching an all-time high of $125,000 in October, momentum faded noticeably in the months that followed. Ether also finishes the year at roughly $2,970, down slightly. Many major altcoins posted double-digit declines, as capital increasingly rotated back into Bitcoin and stablecoins over the course of the year.
Total crypto market capitalization stands at around $3 trillion as of December 31. Bitcoin dominance has risen to nearly 60%. The year is ending quietly: thin liquidity, low volumes, and narrow trading ranges defined December. Larger price moves failed to materialize, including the typical year-end rally.
In hindsight, many analyses describe 2025 as a consolidation phase. After a strong first quarter and solid ETF inflows, volatility increased significantly from the summer onward. New highs were quickly sold into. In the fourth quarter, both Bitcoin and Ether fell by more than 20%. Market watchers see this as a typical pattern of late-cycle behavior.
On the macro side, uncertainty around tariff policy and the Federal Reserve’s rate path dominated. Mixed signals on potential rate adjustments in 2026, rising real yields, and elevated inflation expectations weighed on risk assets overall. While major U.S. equity indices performed solidly, Bitcoin lagged behind their gains.
As a result, the year ends without a clear trend reversal. Bitcoin is holding its support zone, while the broader market remains subdued and awaits fresh drivers. Only in 2026 should it become clearer how liquidity conditions, macro data, and derivatives-market dynamics will evolve.