Bitcoin “died” four times in 2025, but a hidden infrastructure boom proves the skeptics completely wrong

The year 2025 saw Bitcoin declared dead at least four times due to significant price volatility, including a January AI-induced flash crash and a massive October liquidation event triggered by a 100% tariff announcement, which erased $20 billion in leveraged positions. However, beneath these dramatic price drawdowns, the underlying infrastructure of the crypto ecosystem experienced a boom. Key developments included the passage of stablecoin legislation, substantial inflows into Spot ETFs (totaling tens of billions), and major jurisdictions establishing actual regulatory rulebooks rather than relying on enforcement threats. While speculative assets like AI tokens and memecoins suffered brutal losses, the institutional rails—ETFs, custodians, and on-chain markets—functioned under stress. Furthermore, global regulation matured with frameworks like the US GENIUS Act and Europe's MiCA, embedding crypto deeper into global financial plumbing and setting the stage for multi-asset crypto ETFs.

(Source：CryptoSlate)