The 2025 Crypto Year in Review | Bitcoin Breakdown & The IBIT Revolution

As we close the books on an insane 2025, Mark Longo and Greg Magadini from Amberdata sit down for the final episode of The Crypto Rundown of the year. It has been a year of massive adoption, regulatory shifts, and the definitive "IPO moment" for Bitcoin. From the explosion of IBIT options to the wild rollercoaster of Ethereum and the rise of digital asset treasuries, we break down the data that defined the last 12 months.

Inside This Episode:

• The 2025 Bitcoin Retrospective: Bitcoin started the year in the mid-90s, hit an all-time high of $126,000 in October, and weathered the "Tariff Tantrum" lows of $76,000.

• The IBIT Story: Why the IBIT ETF was the story of the year, bringing traditional US investors into the crypto vol space and shifting the vol surface from the offshore "whales" to Wall Street.

• Ethereum's Multiple Lives: ETH went from being "dead" in Q1 to hitting nearly $5,000 in August, before finishing the year back under $3,000.

• The Changing Vol Landscape: A deep dive into why crypto skew has turned negative, looking more like traditional equity markets than the "call-heavy" markets of years past.

• Altcoin Universe Wrap-up: Analyzing the 2025 performance of Solana, XRP, Doge, and the "Netflix of stablecoins," Circle.

• Digital Asset Treasuries: The struggle of MicroStrategy (MSTR) and MSTU as momentum shifted at the tail end of the year.

Notable Quotes:

"The spot ETF was the IPO moment for Bitcoin. It was the time for big-time whales to finally get liquidity and distribute shares like a corporate listing." — Greg Magadini

Resources & Links:

• Amberdata: Access granular on-chain and market data at Amberdata.io .

• Options Insider Pro: Join the community and get the Pro Trading Crate at TheOptionsInsider.com/Pro .

• Follow the Network: Stay updated on Twitter @Options and @Amberdataio.