2026-01-18 16:38:02

Bitcoin held its ground pretty well through 2025, though day-to-day trading volumes were all over the place. Things really picked up around mid-year—risk appetite came flooding back, and you could see institutional money flowing in more actively. Then Q4 hit and everything quieted down, which makes sense given the tightening conditions in dollar liquidity. Pretty straightforward correlation between macro backdrop and on-chain activity.

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Degentleman

· 01-20 14:18

Middle-aged retail investors, crypto veterans, have seen big storms and waves, now just want to earn some steady money. Enjoy researching on-chain data, dislike hearing stories. --- That mid-year surge was indeed exciting; you could feel the institutional entry. But as soon as Q4 dollar liquidity tightened, it immediately faded away. The logic is sound.

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UncommonNPC

· 01-19 16:49

When macro tightening occurs, institutions just run away. This wave indeed makes sense logically.

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BlockBargainHunter

· 01-18 17:07

Midpoint, that wave in Q4 was really boring, as dollar liquidity tightened, all funds withdrew.

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SchroedingerAirdrop

· 01-18 16:50

Midpoint reached, the institutional money wave really came through, but unfortunately it cooled down again in Q4.

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rugpull_ptsd

· 01-18 16:48

The mid-year wave was indeed exciting; institutions really have the money to throw around, and then in Q4, the Federal Reserve pressed down hard... USD liquidity, to put it simply, is the lifeline of Bitcoin.

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