Interest in Bitcoin is waning, but analysts predict a comeback.
Date: 2025-11-10 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Alex Thorne, head of research at Galaxy Digital, told CNBC that the decline in enthusiasm for Bitcoin is due to a shift in market focus. He noted that after Donald Trump's victory in the US presidential election, digital gold became the "investment deal of the year," but investors soon shifted to other sectors.
Thorne noted that much of the attention is currently focused on artificial intelligence, nuclear energy, quantum technologies, and gold. These areas have become major profit centers and have temporarily diverted capital from the cryptocurrency market. He emphasized that many of these sectors—especially gold—are traditionally compared to Bitcoin, as they are often viewed as hedges against inflation and instability.
Despite short-term challenges, the expert remains confident in Bitcoin's long-term potential. However, Galaxy Digital recently revised its forecast, lowering its expected BTC price by the end of 2025 from $185,000 to $120,000.
Altcoins are strengthening their positions
Against the backdrop of Bitcoin's weakening, some analysts expect altcoins to strengthen. According to expert Matthew Hylan, the BTC dominance chart has been looking bearish for several weeks in a row. He explained that the recent rise was only temporary and resembled a "dead cat bounce" within a broader downtrend.
Additional pressure on the market has been the actions of large cryptocurrency holders. According to Glassnode, the activity of so-called "veteran whales" has increased significantly—wallets older than seven years are executing trades of over 1,000 BTC per hour. Researchers believe this indicates a gradual redistribution of assets between established and new market participants.
According to statistics, large investors have sold approximately 32,500 BTC since October 12. Meanwhile, smaller traders, on the contrary, have been actively buying coins during the decline, creating a noticeable contrast in the behavior of different investor groups. Santiment analysts believe this trend could serve as a warning sign, indicating a possible continuation of the correction.
Thus, the Bitcoin market is experiencing a cooling phase caused by shifting priorities and growing interest in other technology sectors. However, Galaxy experts are confident that this period is temporary, and Bitcoin will once again become the focus of investors, as it has in previous market cycles.
