Bianco Research President Jim Bianco on Friday pointed out that crypto is on track to be the worst-performing asset class of 2025, if the top two cryptocurrencies, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), close the year in the red.
BTC, ETH's 2025 So Far
Bitcoin, which was at $93,463 at the beginning of 2025, dipped below this level earlier this week before recouping some of the losses. BTC was hovering at $95,871 at the time of writing, up around 2.6% year-to-date.
Ethereum was at $3,331 at the beginning of 2025, and was hovering at $3,209 at the time of writing, down 3.7% year-to-date.
Inflows Into Bitcoin ETFs
Bianco highlighted in a post on social media platform X that since January 2024, $59 billion has been invested in the initial 10 Bitcoin Spot ETFs. This substantial inflow has resulted in an average purchase price of $90,146.
"Had this money stayed in cash (a money market fund) over the last 22 months, it would have had a larger unrealized gain," he said.
Expert Says Current BTC Levels A Reasonable Entry Point
Hunter Horsley, CEO of Bitwise Asset Management, expressed in a CNBC interview that the current Bitcoin levels present a “reasonable entry point” for investors. He maintains that 2025 remains a promising year for digital assets, as Bitcoin continues to capture market share from gold.
Meanwhile, Michael Saylor of Strategy Inc. (NASDAQ:MSTR) has reaffirmed his confidence in Bitcoin, despite its recent plunge. In a statement on X, Saylor emphasized that Strategy is secure even if Bitcoin’s value drops by 80%. He noted that Bitcoin’s long-term performance surpasses major asset classes, with an average annual gain of 50% over the past five years.
Adding to the market’s volatility, Bitcoin’s sharp decline to below $96,000 has intensified fears, with the Crypto Fear and Greed Index plummeting to one of its lowest points this year. The market also witnessed significant ETF outflows, with $869.9 million in net outflows recorded on a single day.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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