Bitcoin’s Price Is Down 50% — Yet Adoption Has Never Been Stronger

The worth of Bitcoin has been lower in half since hitting its all-time high. That a lot is tough to disregard. But based on a new report from monetary companies agency River, the value chart is telling solely a part of the story.

Underneath the floor, Bitcoin adoption throughout establishments, governments, banks, and unusual retailers has been rising at a tempo that the agency describes as historic — and one which has but to totally present up within the worth, River stated.

5 Countries, Major Banks, And Record Institutional Buying

Governments are now not simply watching from the sidelines. Based on studies from River, 5 new nation-states turned Bitcoin holders in 2025, together with sovereign wealth funds in Luxembourg and Saudi Arabia, a central financial institution within the Czech Republic, and purchases by Brazil and Taiwan.

River estimates that 23 nation-states now maintain Bitcoin in some type, whether or not via state-backed mining operations, asset seizures, or direct central financial institution publicity. That is a class of possession that didn’t meaningfully exist only a few years in the past.

What Bear Market?

“There’s no bear market in Bitcoin adoption […] it’s compounding in ways in which aren’t affecting the value, but,” River disclosed in a report launched Tuesday, which famous that the highest crypto asset is down 50% from its all-time high.

On the banking facet, 60% of the highest US banks are actually actively constructing Bitcoin-related merchandise for his or her clients. A extra favorable regulatory local weather within the US has made it potential for banks to carry Bitcoin in custody and supply associated companies — one thing that was successfully off the desk for many regulated monetary establishments not way back.

Money Flowing In

Institutional traders have been piling in as effectively. Reports say registered funding advisors have been internet patrons of Bitcoin for eight consecutive quarters, placing roughly $1.5 billion into Bitcoin exchange-traded funds each quarter over the previous two years.

In whole, establishments gathered 829,000 BTC all through 2025 — a determine that features purchases made by companies, governments, funding funds, and ETF automobiles. River identified that behind these institutional numbers are tens of millions of particular person individuals gaining their first publicity to Bitcoin via retirement accounts, brokerage platforms, and company stability sheets.

Businesses had been the only largest class of patrons in 2025, based on the research. Crypto treasury firms — companies that maintain Bitcoin as a core a part of their monetary technique — drove the vast majority of these purchases, with adoption amongst that group rising 2.5 occasions in comparison with the yr earlier than.

Featured picture from Creative Fabrica, chart from TradingView