Bitcoin has shown limited price growth in 2025, a year that traditionally follows a halving event where significant gains are expected. Unlike previous cycles, this year has been marked by relative stability, with the cryptocurrency even behaving like a stable asset at times. According to Samson Mow, CEO of Jan3 and a prominent Bitcoin advocate, this period of calm is likely temporary, suggesting that a significant price movement is on the horizon.
Market Resilience Amid Large Liquidations
Earlier this year, the cryptocurrency market faced what Mow described as the largest liquidation event in its history. While many altcoins experienced sharp declines, Bitcoin’s price only dipped to around $20,000. Mow noted, “Altcoins dropped to the depths, but Bitcoin was largely unaffected,” emphasizing the cryptocurrency’s growing resilience. This incident illustrates Bitcoin’s ability to absorb selling pressure without suffering significant losses, highlighting its status as a relatively stable asset in a tumultuous market.
Several factors have contributed to Bitcoin’s stagnation in price. Mow identified profit-taking as a major reason, with some investors choosing to realize gains rather than reinvest. Additionally, he pointed to the activities of large holders, often referred to as “whales,” who may be rotating their Bitcoin holdings, creating sideways market pressure.
The Impact of ETFs and Market Dynamics
The movement of funds into exchange-traded funds (ETFs) can also influence the buying pressure reflected in the spot market. Mow remarked on the presence of “paper Bitcoin” selling, which may not accurately represent real demand for the cryptocurrency. “Maybe it’s paper Bitcoin, maybe it’s ETFs, maybe it’s profit-taking; it could be many things,” he explained.
Another significant factor affecting Bitcoin’s price is the previous rally in altcoins. Notably, Ethereum reached new highs, and XRP traded near $3.50, which Mow characterized as unsustainable. When altcoins undergo corrections, Bitcoin often experiences a brief dip before recovering. This continuous rotation of investor attention and capital can hinder Bitcoin’s ability to surge, even in the face of strong demand.
While Bitcoin’s limited upside thus far may give the impression of a market at rest, Mow argues that this is not indicative of exhaustion. He pointed to ongoing supply constraints and sustained demand, suggesting that a price movement is inevitable. “It’s impossible that someone ends up with 10% of the supply at these prices,” Mow asserted. “The price has to move sooner or later.”
For the time being, Bitcoin’s post-halving stability reflects a balance between profit-taking, selling pressure, and capital rotation. According to Mow, the current quiet phase is likely just the calm before a significant price shift, leaving investors and analysts alike anticipating what may come next in the world of cryptocurrency.
