2024 vs 2025: Same Structure, Different Liquidity
The chart shows two overlapping yearly price structures with very different market contexts:
2024 closed at $93,576 after a strong mid-year breakout, driven by ETF inflows, stablecoin supply expansion, and heavy accumulation from large entities.
2025 tracks slightly below at $89,575, following a similar pattern — but with reduced liquidity, higher volatility, and rotation from majors into emerging narratives.
What’s interesting is the structural symmetry:
The early year drawdown in both cycles formed the base.
Acceleration came after mid-year, once capital returned to risk assets.
The late-year plateau shows markets consolidating after rapid expansion.
This suggests 2025 is not a breakdown, but a consolidation year, where price action mirrors 2024 — just with a lower liquidity profile.
Cycles don’t repeat perfectly, but they often rhyme.
When the structure stays intact, the narrative usually shifts before the price does.
