Crypto markets got more institutional and more regulated in 2025, but the familiar “altcoin season” many traders expected never fully arrived.
Bitcoin (BTC) hit fresh highs earlier in the cycle, yet much of the rest of the market lagged. Bitcoin was down approximately 7% year-to-date after an early-October sell-off, while the total market capitalization of altcoins declined by more than 46% from its 2025 peak, according to TradingView data.

Even so, a handful of tokens managed…

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