If the bull market of 2021 was an outdoor casino for everyone to revel in, the crypto market of 2025 has already transformed into a sophisticated meat grinder operated by institutions. When the market is good, the Bitcoin ETF can attract hundreds of millions of dollars in net buying every day, siphoning liquidity like a black hole devouring stars - asset management firms like BlackRock only acknowledge the label of 'digital gold', while altcoins? They are merely bulk chips in the casino.
