2025 was a blockbuster year for Bitcoin (BTC) and the wider crypto market as crypto-friendly legislators platformed growth-focused regulation and Wall Street finally accepted Bitcoin, Ether (ETH), and numerous altcoins as a valid asset class worthy of inclusion in an investment portfolio.
The global bid on Bitcoin, Ether and Solana’s SOL (SOL) token was near immeasurable, with total net flows into the spot Bitcoin ETFs reaching $57 billion and the total net assets across the ETFs reaching $114.8 billion.
Spot Bitcoin ETF netflows in 2025. Source: SoSoValue.com
Going into 2026, the real question is, will the pace of institutional, corporate and government-level adoption, which were critical price drivers in 2025, continue? Since October, the robust inflows to the spot Bitcoin ETF tapered off and, in some cases, turned into a sellers’ market for weeks on end, and this was followed by a 30% correction in BTC and 50% in Ether.
In an interview with Schwab Network’s Nicole Petallides, Cointelegraph Head of Markets Ray Salmond said that the crypto market’s performance in early 2026 will depend on a range of factors.
“Given how the narratives surrounding AI, Fed rate cuts, a strategic Bitcoin reserve and ETF flows drove the market, I’m curious to see if the same narratives catalyze price upside in 2026 or will a new narrative need to emerge to bring buyers back into the markets?”
.@Cointelegraph’s Head of Markets Ray Salmond tells @NPetallides that he expects bitcoin, ethereum and solana demand in the spot and ETF markets to set the tone for the industry in 2026.
For more market news, tune into: https://t.co/PYaqKPRp8C pic.twitter.com/ZCp1EIXyUh
— Schwab Network (@SchwabNetwork) December 22, 2025
Beyond the ETF flows and demand across spot markets like Binance and Coinbase, investor sentiment regarding the immense size of the AI industry buildout and the performance of the tech-heavy S&P 500 is likely to have a direct impact on crypto markets.
The AI buildout, company valuations, fundraising, IPO performance, and whether datacenter hyperscalers continue to propel the equities markets…
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