The cryptocurrency market has been faced with a significant slowdown since the beginning of 2025, some investors calling it the most painful cycle in history.
Some were disappointed with the changes in industry policy and the same enthusiasm in the United States, while others have even speculated on the talent leaving the sector of other industries.
However, although the current state of the cryptography market may seem dark for some, the current cycle is far from being the most brutal ever recorded and many members of the community remain optimistic.
“For those who have crossed several cycles, this is only part of the process,” Trezor Lucien Bourdon’s analyst told Cointelegraph.
The post-Trump inauguration sale
The current drop in cryptographic markets occurred after Bitcoin (BTC) reached a level of all time above $ 106,000 in December 2024, with the peak widely attributed to optimism around Donald Trump’s victory during the American presidential election.
While many were optimistic, some investors, such as the co-founder of Bitmex, Arthur Hayes, predicted with precision a sale of crypto after the inauguration of Trump on January 20.
Bitcoin price table since October 2024. Source: Coingecko
Since then, Bitcoin has dropped more than 18%, the total market capitalization of the crypto erasing almost all the gains from the Trump electoral victory, lowering 25%.
In the sale of post-Trump inauguration, investors have dropped around $ 4.6 billion in negotiated products in exchange for crypto by March 7, while the consecrated market saw even more outings, with at least $ 1 billion in liquidations in one day on March 3.
What was the sale of the most brutal crypto in history?
But the most recent sale is not the worst ever recorded. “If we are talking about the worst cycle of Bitcoin, 2014-2015 was perhaps the most brutal,” Bourdon de Trezor told Cointelegraph.
Referring to the collapse of the MT. Gox Crypto Exchange, which underwent a loss of 850,000 BTC in a security violation in 2024, the analyst underlined the event as the worst sale of Bitcoin ever recorded.
Bitcoin Table price in the period from July 2013 to July 2016. Source: Coingecko
“The collapse of Mount Gox has erased 70% of the Bitcoin trading volume, leading to a reduction of 85% on a market without institutional support and much less liquidity,” said Bourdon.
More than the fall in prices
According to Brett Reeves, European Bitgo de Bitgo sales, there is “much more to fall” on the current market.
In addition to larger price slowdowns in the past, Reeves has highlighted notable progress in global cryptography products and regulations, which indicate cryptographic assets increasingly integrated into the international financial system. He said:
“Although prices can crash for the moment, we must remember how far we have arrived in a short space in time and how much this space has potential in the years to come.”
Unlike the skeptics and pessimists of the crypto, some industry leaders even see the current market cycle as a bull market.
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“I actually think it’s the best,” said Cointelegraph, founder of Quantum Economics, Mati Greenspan, adding:
“What distinguishes this bull market from previous Bull Crypto races is that it is the first time that we have seen prices increase over time that is not accompanied by an impressive impression of money. This withdrawal is short -term pain that will allow long -term gain. »»
According to Crypto Miles Deutscher analyst, terms such as “bullish market”, “bears market”, “cycle” or “alts-season” are not even suitable for the current market situation.
Source: Miles Deutscher
“This is a different market now,” he said in an X Post on March 13.
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