The Great Shift in the 2025 Crypto Market: Top Assets Monopolize, Retail Interest Shifts to the Stock Market

【Crypto Rhythm】 The crypto market in 2025 did not follow the script everyone expected. Many people are hoping for a rally, but what they got was an interesting twist — perhaps this marks the end of an era of pure speculation in the industry, moving towards more solid asset classes.

The old four-year cycle pattern no longer works well. The current market fluctuations are not the result of “big trends” self-fulfilling, but rather real money flowing with liquidity, and attention shifting among institutions and retail investors.

Looking at this year’s situation makes it clear: in the past, capital would circulate like this — flowing from Bitcoin into Ethereum, then spreading to altcoins. But in 2025, it’s completely reversed; funds are not dispersing outward but instead accumulating tighter and tighter. Especially now that retail investors are moving into stocks, the market has become extremely concentrated. The rebound cycle of altcoins has shrunk from 60 days last year to 20 days now. What does this indicate? It shows that hot spots are rotating faster and faster, but only the top assets are truly making money. Most coins are just catching their breath, with almost all new capital being absorbed by Bitcoin and Ethereum.

To break this deadlock, at least one of the following three things must happen:

1. Institutional investment products like ETFs and digital asset funds expand their investment scope beyond just top-tier coins.
2. Major assets like Bitcoin and Ethereum continue to surge, boosting the overall market.
3. Retail investors flow back from the stock market, refocusing their attention on the crypto market.

The key is whether these variables can truly expand liquidity beyond a few giants. If not, the market may continue to trend towards centralization. How the market will perform next year ultimately depends on where capital flows and how the entire ecosystem’s structure adjusts.