Bitcoin Market Insights
The president of CoinDesk’s Indexes and Data division, David LaValle, has a point for investors: Bitcoin shouldn’t be overlooked.
He shared an analogy on CNBC’s “ETF Edge” about the early days of smartphone adoption. “When I first got my smartphone, I didn’t dismiss it just because I still needed a cab sometimes. I was thrilled not to juggle an MP3 player with my phone,” LaValle noted. This enthusiastic perspective contrasts with the current sentiment surrounding Bitcoin, particularly as it has faced some challenges lately.
Bitcoin dropped about 2% during the recent holiday stretch, marking a striking decline of nearly 50% from its peak of $126,279 on October 6, 2025. Even though it surpassed the $65,000 mark earlier this week, it retreated back to around $63,000 by Thursday.
Despite these fluctuations, LaValle remains optimistic about the digital currency’s future. He believes that the ongoing economic downturn, often labeled the “crypto winter,” isn’t likely to deter both institutional and retail investors from increasing their stakes in Bitcoin. “We’ve seen quite a bit of shift over the past eight years, but this cycle feels different. It’s more about when the market will rebound rather than if it will,” he explained, viewing the current phase as an opportunity for credibility in the market.
Todd Rosenbluth, head of research and editorial at TMX VettaFi, echoed this sentiment, highlighting a favorable trend among Bitcoin ETF investors. Despite ongoing market volatility, he noted that investor levels have remained stable—a sign of hope. “The iShares Bitcoin Trust ETF (IBIT) has actually faced net outflows, yet investors are still purchasing it during this downturn. To me, that’s quite encouraging,” he remarked.
Rosenbluth referenced a VettaFi survey of financial advisors from early May, illustrating differing stances on digital assets. While nearly half were observing from the sidelines, only 22% were actively building or investing. “Some see the recent drop as a chance to buy while others hesitate due to the declines. Still, I think the demand for crypto will shift and evolve,” he said.
However, the losses have been significant for major Bitcoin ETFs. Both the iShares Bitcoin Trust ETF and Grayscale Bitcoin Trust ETF (GBTC) have seen declines of around 40% over the past year.
