Bitcoin’s price behavior through 2025 puzzled many market participants. Following a post-halving advance and the arrival of large institutional inflows, expectations of a sustained parabolic move were widespread. Instead, Bitcoin spent much of the year oscillating within broad ranges, repeatedly failing to hold breakouts despite clear demand. This apparent stagnation can be plausibly explained not by a lack of interest or structural weakness, but by the rational portfolio div

The past year in Bitcoin has been one of equilibrium—an uncanny balance between bullish conviction and invisible suppression. Prices have refused to break decisively below the psychological floor near $100,000, yet every rally toward the $125,000 region has stalled with surgical precision.

In the third quarter of 2025, a potent narrative captivated the digital asset market: that institutional and corporate demand for Bitcoin...