#Strategy加仓BTC The 2025 crypto market presents a tale of two extremes.

From a price perspective, overall pressure persists. The total market capitalization for the year declined by 10.4% to $3.0 trillion, marking the first annual decrease since 2022, with Q4 plunging by 23.7% (evaporating $946 billion). After reaching a high of $4.4 trillion, it collapsed in October due to a $1.9 billion liquidation event. Meanwhile, traditional assets performed well—gold surged by +62.6%, while $BTC fell by 6.4%, reflecting the same weakness in the US dollar and crude oil.

However, the infrastructure layer tells a different story—resilience is evident. Stablecoins grew counter to the trend by 48.9%, adding $102.1 billion, reaching a total of $311 billion, a record high, with PYUSD ranking fifth; institutional deployment accelerated, with data asset management companies (DACs) deploying at least $49.7 billion, controlling over 5% of BTC and ETH supplies; derivatives markets are exceptionally active, with CEX perpetual contract trading volume soaring 47.4% to a record $86.2 trillion, while DEX perpetuals surged by 346% to $6.7 trillion, increasing their share in overall CEX trading to 7.8%; prediction market trading volume surged by 302.7% to $63.5 billion.

Industry data speaks volumes—price bear markets cannot hide ecological prosperity. Trading depth, capital inflows, and practical use cases all see breakthroughs, demonstrating that the underlying vitality of the crypto market remains strong.