Bitcoin’s journey through 2025 proved to be a period of heightened volatility, ultimately ending the year broadly where it began. The cryptocurrency reached a new all-time high of approximately USD 126,000 in early October, supported by growing optimism around regulation and strong inflows into newly launched spot Bitcoin exchange-traded funds (ETFs). However, these gains were reversed in the fourth quarter as over-leveraged positions were unwound and risk-off sentiment took hold, pushing Bitcoin down from its October peak to lows below USD 86,000 by late November. Farhan Badami, Market Analyst at ...