Crypto Daily | 01.02 – Institutions Shift, Bitcoin Struggles, Liquidity Hits Records

1. Institutional Landscape: Growth vs. Market Reality
Institutional activity in crypto continues to show mixed signals. One major global exchange delivered a standout performance in 2025, recording $34 trillion in total trading volume, managing $162.8 billion in user assets, and surpassing 300 million users worldwide. Throughout the year, the platform strengthened compliance frameworks and security infrastructure. Looking ahead to 2026, its strategy is clearly aligned with enterprise-grade solutions and capital inflows from sovereign funds.
In contrast, MicroStrategy faced a challenging year in equity markets. Despite aggressively accumulating Bitcoin—now holding 672,497 BTC valued at nearly $59.5 billion—its stock declined for six consecutive months in 2025. Rising volatility, concerns over index exclusion, and market sentiment weighed heavily on its share price, highlighting the growing disconnect between Bitcoin exposure and traditional equity performance.
2. Bitcoin: A Broken Seasonal Pattern
Bitcoin delivered one of its weakest fourth quarters in history during Q4 2025, posting a -23.07% return. This sharply contradicts historical trends, as Q4 has traditionally been Bitcoin’s strongest quarter, with an average return of over 77%. The breakdown of this seasonal pattern has raised questions about shifting market cycles and institutional behavior.
As 2026 began, Bitcoin entered a low-volatility consolidation phase, trading between $86,000 and $88,500 during the New Year holiday period. Reduced trading volume, clear resistance levels, and weakening momentum suggest a fragile short-term structure. Ongoing institutional fund outflows have further tightened liquidity, limiting upside attempts.
3. Stablecoins Strengthen Hard-Asset Reserves
Tether continued to expand its long-term reserve strategy in 2025. On New Year’s Eve alone, it acquired 8,888 BTC, bringing its total Bitcoin holdings to over 96,000 BTC. These positions currently reflect unrealized gains of approximately $3.52 billion.
Beyond Bitcoin, Tether now holds 116 tons of gold, placing it among the top 30 gold holders globally. Its Bitcoin reserve address ranks fifth worldwide, and second among private enterprises. The company allocates 15% of quarterly profits toward Bitcoin purchases, reinforcing its commitment to diversified, hard-asset-backed reserves.
Market Takeaway
Institutional participation in crypto is evolving—not retreating. While Bitcoin faces short-term pressure and broken historical patterns, large players continue to accumulate strategically. Liquidity conditions and macro forces remain the key drivers to watch as 2026 unfolds.$BTC ‌