While some Bitcoin investors may begin 2026 with sour tastes in their mouths, there was more to like in 2025 than they might think, Coin Bureau co-founder Nic Puckrin believes.
Puckrin understands the disappointment, as expectations were frequently defied throughout 2025. The year ends with Bitcoin struggling to maintain $90,000 as precious metals prosper.
Yes, Bitcoin ends 2025 on a downer, but Puckrin reminds investors that it did reach an all-time high of $126,000. More importantly institutions like BlackRock and Vanguard have accepted it has a role to play.
“It was also the year that saw BlackRock’s iShares Bitcoin Trust ETF (IBIT) become one of the most successful launches of all time, while several altcoin ETFs were approved and have seen strong demand,” Puckrin said. “Sometimes, during sell-offs, it can be hard to see the forest for the trees. But if we zoom out, even $90,000 Bitcoin was the stuff of dreams just a few short years ago.
“What has been particularly unexpected, however, is the stellar performance of precious metals – specifically gold and silver, which are up 69% and over 130% year-to-date. This has been driven by a combination of rate cuts, geopolitical tensions – which are resurfacing again this week with Venezuela – and, crucially, the dollar debasement trade.”
Puckrin conceded that Bitcoin has failed to react to rate cut hopes and dollar debasement fears, two triggers that normally drive up prices. He believes that if those triggers persist into 2026 that prices will indeed rise. The momentum enjoyed by precious metals can quickly change.
2025 will end with Bitcoin on the ropes, but that means little for 2026 as a whole.
“Heading into year-end, while precious metals and the US stock market are rallying, Bitcoin remains jittery,” Puckrin noted. “With $24 billion in options set to expire on Boxing Day, these jitters may well continue as 2025 draws to a close. But what we see in the final days of 2025 will not dictate what happens next year.
“In 2026, I expect the key market catalysts to come from the appointment of the new Fed Chair, who could be announced as early as the first week of January; the central bank’s monetary and fiscal policy; and the US midterm elections. For crypto, any news around the Clarity Bill will likely have a strong impact, too.
“Crucially, there’s still every possibility that Bitcoin will reverse course and hit new ATHs in 2026, while gold and silver may begin to lose some of their shine. As for the US stock market, it will likely continue to ride the AI train for longer than anyone expects.”