According to the latest report released by 99Bitcoins, the cryptocurrency market experienced a significant sell-off in Q4 2025, with the total market capitalization dropping by 25% to 27%, reaching approximately $2.9 trillion. Bitcoin prices fell from a high of around $126,000 in October to just over $80,000, mainly due to ETF fund outflows and a surge in trading volume, indicating that the market is in a "distribution" phase. Despite the downturn, stablecoins have continued to solidify their position, accounting for 30% of on-chain transaction volume, while the spot trading ratio of decentralized exchanges (DEX) and centralized exchanges (CEX) also increased to about 20%.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
According to the latest report released by 99Bitcoins, the cryptocurrency market experienced a significant sell-off in Q4 2025, with the total market capitalization dropping by 25% to 27%, reaching approximately $2.9 trillion. Bitcoin prices fell from a high of around $126,000 in October to just over $80,000, mainly due to ETF fund outflows and a surge in trading volume, indicating that the market is in a "distribution" phase. Despite the downturn, stablecoins have continued to solidify their position, accounting for 30% of on-chain transaction volume, while the spot trading ratio of decentralized exchanges (DEX) and centralized exchanges (CEX) also increased to about 20%.