PANews, December 21st news, Jocy, founding partner of IOSG, posted on platform X stating that 2025 will be the worst year for the crypto market, with OG investors experiencing three waves of selling. From March 2024 to November 2025, long-term holders (LTH) will have cumulatively sold about 1.4 million BTC (worth $121.17 billion): First wave (end of 2023 - beginning of 2024): ETF approval, BTC rises from $25,000 to $73,000; Second wave (end of 2024): Trump elected, BTC surges to $100,000; Third wave (2025): BTC stays above $100,000 for a long time. Unlike the single explosive distributions of 2013, 2017, and 2021, this time it is a multi-wave continuous distribution. Over the past year, BTC has remained sideways at its high for a year, a situation that has never occurred before; BTC that has not moved for over 2 years has decreased by 1.6 million coins (about $140 billion) since the beginning of 2024. But the other side of risk is opportunity, in terms of investment logic:
Short-term (3-6 months): fluctuation in the range of $87,000 to $95,000, institutions continue to accumulate.
Mid-term (first half of 2026): Policy + institutional dual drive, target $120,000 - $150,000;
Long term (second half of 2026): Increased volatility, watch the election results and policy continuity.
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