Bear Market Grips Bitcoin Price While Adoption Expands Across Wall Street
Bitcoin (BTC) continued its downward trajectory in February, buying and selling at $64,492, almost 50% under its early October all-time high (ATH) worth.
Yet, worth motion tells solely a part of the story. According to River, Bitcoin adoption accelerated final yr, with establishments, banks, retailers, public firms, and even nation-states growing their publicity.
Is Bitcoin’s 50% Decline Masking a Structural Bullish Trend?
BeInCrypto recently reported that the crypto market has slipped into excessive worry, with retail traders rising more and more pessimistic about Bitcoin’s worth. This sentiment is mirrored in a surge of “Bitcoin going to zero” searches, which lately reached an all-time high.
The worth drawdown has additionally weighed on institutional contributors. Crypto hedge funds have pulled back from the market.
“With Bitcoin and ETH persevering with to slip, crypto hedge funds have retreated to money. Their common money ranges are presently 15.32%, the very best in nearly a yr,” Nic Puckrin, co-founder of Coin Bureau, advised BeInCrypto.
Moreover, recent disclosures show that in Q4 2025, institutional traders additionally trimmed their Bitcoin exchange-traded fund (ETF) publicity.
However, when seen from a broader perspective, the long-term adoption trajectory stays constructive. In a current market report, River highlighted that the biggest cryptocurrency’s adoption surged in 2025.
“There is not any bear market in bitcoin adoption. Bitcoin is down 50% from all-time highs, however adoption is compounding in ways in which aren’t affecting the worth, but,” the post learn.
According to River, establishments collectively added roughly 829,000 BTC in 2025. This determine contains purchases from companies, governments, funds, and ETFs.
Registered funding advisors allotted near $1.5 billion per quarter into Bitcoin ETFs over the previous two years. Notably, none of these quarters recorded internet outflows.
Although publicity amongst RIAs is widespread, with 29 of the 30 largest US corporations holding positions, portfolio allocations stay minimal, averaging 0.008%.
Businesses emerged as the biggest consumers in 2025. They added $54 billion value of Bitcoin to their steadiness sheets throughout the yr.
Bitcoin treasury firms account for almost all of company holdings, collectively controlling 866,000 BTC. At the identical time, the variety of publicly listed corporations with Bitcoin holdings rose to 194.
At the sovereign degree, 5 nations became new Bitcoin holders in 2025, together with purchases linked to 2 sovereign wealth funds, Luxembourg and Saudi Arabia, in addition to the Czech Republic’s central financial institution. In whole, 23 nation-states now maintain Bitcoin.
“Trust in bitcoin has grown quicker than that of any asset in historical past. What started as an experiment is now a globally acknowledged store-of-value, with adoption patterns that rival the web,” River wrote.
US Businesses Embrace Bitcoin Payments
Beyond direct accumulation, cost adoption expanded materially. The variety of US retailers accepting Bitcoin funds tripled throughout the yr. Furthermore, international utilization elevated by 74%.
Meanwhile, improvement exercise inside conventional finance continues. Approximately 60% of the 25 largest US banks are building Bitcoin merchandise, indicating ongoing institutional integration.
River acknowledged that the present wave of adoption is unlikely to set off a right away 10-fold worth surge for Bitcoin. However, the agency argued that such a regular integration might carry higher significance.
Looking forward, River mentioned it expects adoption to speed up meaningfully over the approaching years as broader participation deepens.
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